Triton Distribution Systems, Inc. Management Preparing the Company for Major Financial Growth
Date : 01/13/2011 @ 8:00AM
Source : MarketWire
Stock : Triton Distribution Systems, Inc. (TTDZ)
Quote : 0.018 0.0 (0.00%) @ 8:14AM
Triton Distribution Systems, Inc. Management Preparing the Company for Major Financial Growth
Triton Distribution (USOTC:TTDZ)
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Today : Thursday 13 January 2011
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Triton's (PINKSHEETS: TTDZ) management, in anticipation of the closing of the acquisition of AGT on January 15, 2011 and the greatly welcomed pending private placement, is pleased to announce today that based upon shareholders and board of directors approval of the various note transactions, warrant conversions and debt exchange agreements, Triton is in a position to have up to approximately $4.2 million in debt and $4.1 million in other liabilities eliminated. As a result, management anticipates an increase of approximately $8.3 million in total shareholder's equity.
Immediately after the closing of the acquisition and preceding the acceptance of the private placement investment, the company will post publicly the new modified financial reports that will clearly position it in a very appropriate place to accept comfortably the new investors and adjust to the rapid financial growth.
Additionally management is planning in the very near future to upgrade the company to a higher exchange suited to trade Triton's stock.
FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. The company's operations and business prospects are always subject to risk and uncertainties.
Contact:
Triton Distribution Systems, Inc.
Gregory Lykiardopoulos
CEO
415-381-4806