DAMASCUS, Md., Feb. 24 /PRNewswire-FirstCall/ -- Syndication Inc., (Pink Sheets: SYNJ), reports that on February 25th 2009, The BOD of Syndication authorized the CEO to take the necessary steps to rescind 300 million issued and outstanding shares of the Company's Common Stock to the Treasury. The Company maintains that the action taken by the Board is one of many that embrace a comprehensive Company Capitalization Policy designed to increase equity valuation, enhance the potential for equity investment, discourage short trading activity and, most importantly foster a longer term investor attitude.
Other then the reverse split of the Company's common stock initiated last year on November 6th 2008, the Company currently has no intention or plans to do another at any time in the near future. The Company indicates that as of February 18th 2009 the estimated issued and outstanding non-restricted tradable float was just shy of 658 million shares. "The reverse split, pending Stock Dividend and stock rescission are all strategies designed to set up the capitalization structure of the Company in a way that best promotes the potential for the increased valuation of our Company's stock in the trading markets. However, and more importantly, the actions taken by the BOD are intended to reward our shareholders for their continued interest and support while establishing policy designed to encourage a longer term investment position. It is my position, depending on the results and reception of this first Stock Dividend, to recommend that the Board consider establishing policy that routinely pays a dividend of this type on a consistent and timely basis," said Sorrentino, the CEO of Syndication. The Company indicates that more news on the pending dividend, our green energy development and the Sy-Med Spinal Decompression Division is pending.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
|SOURCE Syndication Inc.|
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