CORAL SPRINGS, Fla., Jan 12, 2001 (BUSINESS WIRE) -- PDC Innovative Industries Inc. (OTCBB:PDCI) today declared a 5% dividend for all holders of record on 1/12/2001 and payable Jan. 22, 2001. PDCI officers and directors have relinquished all rights to the 5% dividend, according to a company spokesperson. The dividend will give one share of PDCI common for every 20 shares owned by a shareholder.
PDCI management stated that the additional shares for stockholders is intended to allow those holders to participate in the growth of the company which the company expects will occur in 2001 when the Sterile-Box 2000 is marketed through Clearlake Financial Corp. of Hialeah, Fla.
Those who are shareholders through Jan. 22, 2001 will receive the 5% dividend. After Jan. 22, 2001 the shares will trade without the dividend.
The PDCI Board of Directors was also informed today that company Founder David Sowers and Mrs. Sowers have elected to sign a lock-up agreement relative to shares owned by the Sowers family. Other than the exercise of voting rights, the lock-up would extend for a two year period from issue in July 2000. Concerned with the possible distraction of the family shares, the shares are being removed from the market for at least the two year period as indicated, permitting the trading shares more flexibility while the company markets its products with the expectations of good revenues and is subsequently able to manufacture more products already designed for the company.
Hypo-Sterile 2000, also known as Sterile-Box 2000, is a container for use in a hospital, clinic or medical office location that receives contaminated, disposable syringes and other small devices after use on a patient. The contaminants are subjected to high Fahrenheit temperatures for sterilization and then a compacting process which reduces the materials to the size of a U.S. quarter piece. The residual product remaining after the process is transformed into non-toxic waste able to be disposed of as ordinary trash. The container is expected to compete more than favorably against current bio-hazardous systems, including the standard Sharps Container which creates heavy disposal costs in order to get rid of contaminated product. One of the major, proprietary aspects of Hypo-Sterile 2000 is its portability and simple maintenance needs. There are no desktop sterilizers currently functioning in the medical fields that can be compared to the PDCI container product.
This press release contains forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Expression of future goals and similar expressions reflecting something other than historical fact involves risks and uncertainties. The actual results the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.
CONTACT: PDC Innovative Industries Inc., Coral Springs Dave Sowers, 954/341-0092
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KEYWORD: FLORIDA INDUSTRY KEYWORD: MEDICAL MEDICAL DEVICES MANUFACTURING DIVIDEND
STOCK SYMBOLS: [(pdci)]
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