|By PR Newswire||
|January 7, 2014 08:15 AM EST||
WELLINGTON, Florida, January 7, 2014 /PRNewswire/ --
Muscle Warfare International, Inc (OTC: MWAR) today announced that its Board of Directors has approved the retirement of 104,176,805 million common shares to the Treasury and has set a new record date of January 7, 2014 for the dividend of its common stock to its shareholders.
The retirement of the common shares gives us a total of 35,525,631 million outstanding shares prior to the stock dividend. As soon as, the dividend shares are issued we will update the share structure on OTC Markets.
All shareholders of MWAR owning common shares on the record date of January 7, 2014 shall receive two (2) shares of MWAR common stock for every share held by such a shareholder. For example, if a shareholder owns 10,000 shares of MWAR common stock at the close of business on January 7, 2014 that shareholder shall receive 20,000 additional shares of MWAR common stock.
MWAR management stated that the Board approved this stock dividend to reward the loyalty and patience the shareholders have shown as the Company has developed its business plan from concept to operations.
The dividend common shares will be "restricted" as defined in the Securities Act of 1933. Rule 144 allows for the public resale of restricted securities only if certain holding period and other conditions are satisfied. The start date for the holding period for the dividend shares shall be the record date of January 7, 2014.
Per FINRA requirements for market transparency, the Company is required to provide notice to and receive acceptance from FINRA prior to the actual distribution of the dividend. Pending any unforeseen delays from FINRA, the Company plans to have the aforementioned stock dividend paid and distributed within three to four days. The payment of the dividend will not require an increase in the total number of authorized shares of common stock nor is there a need for an exchange of certificates.
As soon as, FINRA approves the stock dividend, MWAR shall have the transfer agent print new share certificates, and begin sending them out to shareholders. This process may take 3-4 days prior to shareholder receiving the new shares, if the shareholder has a new mailing address please send an e-mail with certificate holders name and new address, do not call to give new address.
About Muscle Warfare International, Inc
(MWAR) Founded in 1985 and headquartered in Wellington, Florida, United States, our business model is to research, evaluate, and acquire profitable private firms in the business segments of sports nutrition, energy, and business services for the benefit of our shareholders. By providing the financial and human capital necessary to deal with the overwhelming administrative, planning, governance, compliance, and regulatory issues that abound, our partners can focus their energy and flourish.
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FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the holding industry; the positioning of Muscle Warfare International, Inc. in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Muscle Warfare International, Inc. can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
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SOURCE Muscle Warfare International, Inc