I guess this wasn't what you were hoping for, huh? ) :
DynTek Announces 1-for-1,000 Reverse Stock Split
Irvine, CA - November 26, 2008 - DynTek, Inc. (DYNK.PK), a leading provider of professional technology services, announced today that its Board of Directors has approved a 1-for-1,000 reverse stock split of its outstanding shares of common stock, which DynTek expects to be effective December 8, 2008.
Reverse Stock Split
At the Annual Meeting of Stockholders held on November 13, 2008, DynTek's stockholders authorized the Board of Directors to effect a reverse stock split of DynTek's outstanding shares of common stock. On November 24, 2008, the Board of Directors approved the reverse stock split at a ratio of 1-for-1,000, which DynTek expects to take effect on December 8, 2008, or as soon thereafter as possible. As a result of the reverse stock split, each stockholder's shares will be automatically converted into one thousandth, or 0.1%, of the number of shares that he or she owned immediately before that date, and the number of shares outstanding will be reduced from approximately 161,746,000 shares to 161,746 shares. However, the reverse stock split will not affect any stockholder's percentage ownership of DynTek's shares, except to the extent that the reverse stock split would result in any stockholder owning a fractional share.
Stockholders that would otherwise be entitled to receive a fractional share as a result of the reverse stock split will, instead, receive a cash payment for the equivalent of $0.02 per pre-split share, which represents the fair market value of the common stock as determined by the Board of Directors.
Following the reverse stock split, DynTek's common stock will continue to trade on the Pink Sheets and stockholders will receive transmittal letters in the mail to be used to exchange their existing stock certificates for new stock certificates representing the number of shares of common stock into which their shares will be converted as a result of the reverse stock split and any cash payment to which they may be entitled in lieu of any fractional share. However, stockholders should not send in their stock certificates until they receive a transmittal letter, which will contain detailed instructions for exchanging their stock certificates for new stock certificates.
About DynTek
DynTek is a leading provider of professional technology services to mid-market customers, such as state and local governments, educational institutions and commercial entities in the largest IT markets nationwide. DynTek offers technology practices in IT security, advanced network infrastructure, voice over internet protocol ("VOIP"), and access infrastructure. DynTek's multi-disciplinary approach allows its clients to turn to a single source for their most critical technology requirements. For more information, visit www.dyntek.com.
Shayne can fool SOME of the shareholders ALL of the time.
And he can fool ALL of the shareholders SOME of the time.
But, he can't fool ALL of the shareholders ALL of the time!
