|By Marketwired .||
|July 28, 2014 01:09 PM EDT||
FORT WAYNE, IN -- (Marketwired) -- 07/28/14 -- Freedom Energy Holdings, Inc. (OTC: FDMF) CEO Brian Kistler announced today the plan for gifting the true value of the company through to its common and preferred shareholders.
Kistler stated, "Last week I spent several days secluded with my business advisors discussing the current and future direction of the company. While FDMF has always been a holding or incubation company, meaning the true value has always been in the technology and subsidiaries owned, it is obvious that this message has not been fully grasped by the general public and of course the onus is on myself and the Company to ensure that shareholders, both existing and prospective, fully understand the Company's objectives, goals and accomplishments in line with its model as a holding company.
"To that effect, I wish to make it clear that effective immediately the following changes are being implemented:
1. The name of the company will change to reflect the true direction of the company
2. Accordingly, a request will be made with FINRA to change the name and symbol as well as permission to re-domicile the company from Maryland to Florida.
3. A new website will be developed to reflect the new corporate image. Additionally, we will implement a greater presence on the social media outlets.
4. Effective July 29, 2014 and forward, each Common and Preferred Shareholder (of at least 10 million FDMF shares) will be entitled to receive units of each subsidiary and technology owned by FDMF. To be clear, on a date to be declared in the future, for each 10 million shares of FDMF Common stock owned, there will be one unit (of the subsidiary) issued to the shareholder of record on that date. In other words, the more FDMF common shares owned on the date of the declaration the more units will be issued to that FDMF shareholder. Partial units will be issued based on each 100,000 shares owned rounded up i.e. 10,000,000 common shares will equal 1 unit; 10,100,000 common shares will equal 1.01 units. Each unit will equal 100 common shares of the subsidiary and the right to purchase an additional 100 shares at a 15% discount to the market at the time of public offering. Preferred shareholders will be treated as if the preferred shares were converted to common shares according to the conversion rate on file with the Maryland Secretary of State.
5. During this process there will be no reverse. At the current time and with the aforementioned action, I see no reason to implement any reverse split.
"The purpose for these actions is to provide clarity to the public and a gift to the genuine long term holders of the FDMF Common and Preferred shares. Holders of FDMF stock will have a path to direct ownership of where the value of our company truly is. The only requirement to receive the future units when issued, is to be a record holder of either the common or preferred shares of the company on the date of declaration.
"The subsidiaries and technology will not be spun off until it would qualify, on its own, for a direct listing on one of the major exchanges or NASDAQ. The date of declaration will be different for each technology and or subsidiary and independent of each other.
"Currently we have exposure to the renewable energy, cannabis, and entertainment industries. I am currently reviewing several other opportunities that are being presented from private companies that have a desire to be exposed to the public markets. I hope to bring announcements of new acquisitions that will follow the above plan, in the very near future. I will be scheduling a conference call on Monday August 4, 2014 and will announce it in a follow up press release," concluded Kistler.
ABOUT FREEDOM ENERGY HOLDINGS, INC:
Freedom Energy Holdings, Inc. (OTC: FDMF) is a diversified holding company that specializes in the identification and development of technologies with commercial applications. Current technologies under development are KC-9000 and SR-139. Subsidiaries in operation are Launch TV Network, Inc and Global Medical Marijuana Forum, Inc. More information can be found at www.freedomenergyholdings.com
FORWARD LOOKING STATEMENT-This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in company's public announcements.