TIBURON, CA — (MARKET WIRE) — 10/25/10 — Triton’s (PINKSHEETS: TTDZ) management decided to place this press release to eliminate any confusions, misrepresentations and distortions, of the facts. Additionally, to confirm to the Market and the Shareholders the actual essentials regarding the previously announced Corporate Action to Buyback Common Shares.
It is definitely a fact that on October 15, 2010 the Company through Action Stock Transfer Corporation , its Transfer Agent, completed the retiring of 43,817,855,923 Common Shares or 99% of the 44,007,866,636 issued and outstanding shares of the Company. At the time of this corporate action by the Company the Market Capitalization was $ 0.0001 per share.
Following this action the Company’s present Market Capitalization is as follows:
TOTAL OUTSTANDING SHARES AFTER THE EXCHANGE: 190,010,173 of these 100,000,000 shares are owned by insider Shareholders, Management and employees, making the current public float 90,010,173 free trading shares. Absolutely and categorically no new shares have been issued. Subsequent to the above mentioned Capitalization the present market price of $ 0.0001 per share does not reflect the Company’s Market Capitalization just prior to the reduction in common shares and is not suitable. So based on the present Capitalization the market price should be higher.
All Shareholders were advised of the actual facts of the corporate action via an extensive mailing and the Transfer Agent was and is available to answer all questions regarding the Company’s activities.
“Shareholders and the Market should be confident that we executed the Corporate Action to Buyback 99% of the Common Shares as dictated by law. Our priority is to strengthen the Company and make it ready to accept new Financing and additional Shareholders,” said Gregory Lykiardopoulos , Chairman and CEO of Triton Distribution Systems, Inc.