WILMINGTON, Del., Dec. 29, 2014 (GLOBE NEWSWIRE) -- Redux Holdings, Inc. (OTC:RDXH) announces that the new incoming deals will not require such an increase of the authorized shares to 400,000,000. Instead the company has struck a deal that will entail no increase of the authorized shares. The authorized stock will stay at 100,000,000. To be clear, management has relayed to all parties that "less is more." By creating a preferred class of stock that gives a cash dividend (not stock dividend), certain parties have opted out of taking so much restricted common stock. Furthermore, Management would like to relay that the former management took restricted preferred stock in exchange for the public company.
Mr. Leo goes on to state, "It is my greatest priority to bring value to this company, not to pillage its shareholders by means of unnecessary dilution." With this said, Mr. Leo has opted out of taking any common stock and all ownership rests in two year restricted preferred stock with priority over all other classes for a cash dividend.
The next filing to be posted will be to the Nevada Secretary of State authorizing 5,000,000 shares of preferred stock.
Please remember Redux Holdings, Inc. is still very deep in the process of getting everything set up for the next stage in our strategy. Shareholders can also find information posted on social media sites indicated below on this press release on the contact section. Management will be using all social media at its disposal to relay tid bits as we move forward.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
CONTACT: Redux Holdings, Inc. (302) 235-3141 firstname.lastname@example.org
Source:Redux Holdings, Inc.