NanoSignal Corp. to Issue Special 20% Restricted Stock Dividend
10/6/2004 1:24:00 PM
LAS VEGAS, Oct 6, 2004 (BUSINESS WIRE) -- NanoSignal Corp. (Pink Sheets: NNOS) has determined, after an extensive review of a detailed shareholder audit, conclusive and stunning documented proof of the market making activity involving the approximately 7,000 mystery names of various DTC and NOBO lists obtained by the company document that many names obtained by the company are not shareholders.
To address this very troubling issue, NanoSignal Corp. called a special meeting of legal, accounting and forensic experts together with litigators to discuss this problem and how to resolve this dramatic event. One conclusion approved by the board of directors is to issue a special one time 20% restricted stock dividend to our known shareholders as of Nov. 3, 2004.
The results of this special 20% restricted stock dividend, when issued to proven shareholders who actually do tender their recognized and verified certificates to the company's transfer agent, should prove that although the company can identify approximately 240,000,000 issued shares, other records tend to indicate that there are an additional 500,000,000 shares allegedly held in Street and retirement accounts that regrettably are not recorded shareholders of ours at our transfer agent. To resolve this presumed imbalance of sales to the unsuspecting, NanoSignal Corp. will be issuing a special 20% restricted stock dividend to those actual verified shareholders of record at the transfer agent only.
Details of the pending distribution of restricted shares will be filed in sufficient time to allow newly designed certificates to be issued along with new restricted dividend share certificates from the transfer agent to the actual proven owners of record. "We wish to reward real shareholders while also keeping in mind our desire to provide better security for our real shareholders we are redesigning our share certificates and issuing new ones in conjunction with this special dividend," stated Sir Rupert Perrin, chairman of NanoSignal.
About NanoSignal Corp.
NanoSignal Corp. is a medical technology company introducing its patented Slices(TM) technology to the MRI industry, allowing radiologists and technologists to perform advanced imaging features beyond the capabilities of the standard MRI computer.
Information about NanoSignal Corp. is available at www.nanosignalcorp.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: NanoSignal Corp.
NanoSignal Corp.
investor@nanosignalcorp.com
or
Princeton Research Inc. for NanoSignal
Mike King, 702-650-3000 (Investor Relations)
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