PDVP Comments on Updated Share Structure
Jun 20, 2007 12:02:00 PM
PORTLAND, ME -- (MARKETWIRE) -- 06/20/07 -- Podium Venture Group, Inc. (PINKSHEETS: PDVP), an apparel, media, and publishing holding company in the lifestyle sports industry, announced today the total number of authorized common stock remains at 500,000,000 with approximately 429,460,887 issued and outstanding and 246,700,431 in the float.
"As stated before, we have received numerous shareholder calls and emails addressing the issue of our current share structure and currently held brands. Let me first say that given our current operations, M&A strategy, and structure of our three brands; N'East Magazine, Erino Clothing, and Corduroy Surf Co., we have no current plans of increasing the authorized common stock. With the aggressive growth plan we have in place it should be understood, and as previously announced, that we intend to grow this company though acquisitions, capitalization and vertical growth. While recent events as announced have affected our current structure -- I weigh that with what effect it has brought Podium and its brands. That is the simple method we use -- risk vs. gain. We are still wildly undervalued just looking at what we have in our quiver. The entire Podium team is eagerly waiting to turn the corner and go into the later half of the year with all cylinders firing and a very successful 2007." -- Jim McGinley, President and CEO, Podium Venture Group, Inc.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
CONTACT:
Podium Venture Group, Inc.
Jim McGinley
207-772-3202
www.podiumventuregroup.com
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