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Tuesday, September 20, 2011 9:52:31 AM
Zamage Digital Imaging, Inc. (ZMGD) Letter to Shareholders: Corporate Update
09/20/2011 @ 9:31
MarketWire
0.0006 0.0 (0.00%) @ 7:57AM
Zamage Digital Art Imagng (PN) (USOTC:ZMGD)
Intraday Stock Chart
Today : Tuesday 20 September 2011
Zamage Digital Art Imaging, Inc. (PINK SHEETS: ZMGD) (www.zamagedigitalcorp.com) and the CEO of Paraform Design Ken Olschewske address questions raised by the company shareholders regarding Paraform's current market position and ZMGD corporate issues as they stand today, September 20, 2011.
Mr. Olschewske stated, "Shareholders had been contacting Paraform and ZMGD stating their concerns regarding Paraform's current position, the sales of the ZMGD shares and, by extension, the possible sale of ZMGD shares by the company's M&A advisor, IR representatives, and other service providers.
"We are utilizing this opportunity to advise our followers that neither Paraform, nor our service providers are currently involved in sales of ZMGD shares nor is any dilution in progress. To the best of our knowledge none of the large share blocks that appeared on the market originated from the company.
Moreover, Paraform Design does not require any investment capital to run its day-to-day operations. The company is dedicated to sustainable growth and treats ZMGD as a vehicle to this growth. If a need for financing arises, it will be to expand the company, not to sustain it. If such expansion funds ever become necessary, we assure our followers that we will raise such funds modestly, without massive dilution, or damage to our stock price and followers.
ZMGD does not subscribe to OTC Markets financial posting services. We expect our Q2 financial statements to be posted with our IR's Support Site and on our corporate web site (www.zamagedigitalcorp.com) within days. Our followers will be pleasantly surprised see that Paraform has not diluted, that we represent a self-sustained entity and a company with a good and bright future and prospects.
"Regarding our subsidiary in China, ZMGD board members have had a disagreement with the Chinese subsidiary, vis-a-vis direction of the company. The China subsidiary saw dilution as a growth mechanism, which was highly opposed by the ZMGD management that stands against dilution and any such market tactics. To that end, the Chinese subsidiary will most likely be dismissed by ZMGD management, and all stock issued to the China subsidiary will be returned to the treasury.
"A new suitable merger candidate as a replacement to the China subsidiary in order to maintain ZMGD valuation is an option that we are not ruling out. Management will seek out a company of similar size and stature to allow for higher transparency with the shareholders and public.
"We are looking forward to continue working with our shareholders and we will update on all developments as they unravel," concluded Ken Olschewske.
Contacts:
Investor Relations
1-647-426-1640
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