MCDA .025/0.03 DIVIDEND NEWS MOVING TO OTCBB 0S 7 FLOAT 5 MILL
Macada Holding, Inc. Announces Company Update
Macada Holding, Inc. Announces Company Update
FT. LAUDERDALE, FL -- (Marketwire) -- 08/25/09 -- Macada Holding, Inc. (PINKSHEETS: MCDA) announced that management intends to sell the company's subsidiary LyfeTec, Inc, together with its assets, to an OTC Bulletin Board company. Management stated that Macada Holding, Inc. is in the process of finalizing definitive agreements regarding its recently announced letter of intent to acquire Macada Design Group. Upon completion of this acquisition, current management expects to resign and move on to manage the new OTCBB parent company of LyfeTec and assets. To this end, management has increased the transparency of the company through public disclosure and the posting of financial statements which has resulted in the removal of the "caveat emptor" classification on pinksheets.com which has resulted in shareholders' and market makers' increased ability to trade the company's common stock.
Management stated that LyfeTec's continued focus will be in the medical industry, and that the acquiring company will be released upon completion of due diligence and the signing of non-disclosure and confidentiality agreements in addition to acquisition agreements. As a fully reporting company, management will continue to target other medical industry companies for acquisition. Management stated that negotiations are underway with five companies with respect to potential acquisitions, some of which will generate immediate revenues for the company.
Once all deals are completed, Macada Holding shareholders will receive a pro rata dividend of the new parent Bulletin Board company while retaining their Macada Holding shares. As of today's date, the company's share structure is:
(i) Number of shares authorized; 1,000,000,000 of which Preferred is
100,000,000.
(ii) Number of shares outstanding; Common: 6,965,077
Preferred 77,000,000 class (A).
(iv) Freely tradable shares (public float); 4,974,379
Safe Harbor Provision
This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Macada Holding, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.
Contact:
Steven Cohen
954-772-2640
Source: Marketwire (August 25, 2009 - 8:30 AM EDT)
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