DAMASCUS, Md., May 31, 2016 (GLOBE NEWSWIRE) -- Syndication Inc., (SYNJ.PK), on May 20th, 2016 filed its 2016 1st, Quarter Financial Statement indicating that over the last Three Quarters the Company's stock buyback and rescission program resulted in a net reduction of its I/O (Issued and Outstanding), by -450 Million shares of Common Stock. The BOD then passed resolutions declaring its intent to continue the program through 2016.
Other notes outlined in Section 20 (Subsequent Events) of the 1st Q 2016 financial Filing indicated that on the May 4th, 2016 the CEO requested Board approval on his move for a $2.5 Million independent accountant upgrade on its ARCHER Intellectual Property, increasing the valuation from $1 Million to $3.5 Million coupled with a right down of over $500K of convertible debt referred to in NOTE 4 of the Companies 2015 Year End and 1st, Quarter 2016 Financial Statements. The Company stated that the combination of the two accounting adjustments should bring our Shareholders Equity up to $4 Million meeting the NYSE MKT, (previously known as Alternext), Tier 2 Exchange listing "Shareholders Equity" threshold qualification. The Company noted that the original $5 Million valuation of its ARCHER Intellectual Property was haircut to $1 million by its outside accountants with the caveat of an increase in the valuation provided that the company began to generate sales of the software. A condition, which according to the 1st, Quarter 2016 and 2015 yearend financial filing, was satisfied. The company commented further that it expects to gain an additional $500K in equity as a result of the write down of debt held on the books since initiated in 2005. The CEO noted that the Company was highly confident in gaining relief of the debt as the lending institution had been dissolved as a business and has not made cry for payment against the outstanding balance for a period greater than 7 years. Too, all stock purchase warrants associated to the note have expired and, the Company has never received a "Notification of Assignment".
The BOD noted that the NYSE-MKT Exchange (formally referred to as the ALTERNEXT), was recently retooled to service the growth of small micro-cap companies. They established the initial standards so startup companies like Day TradeXchange and Syndication could meet the relatively achievable benchmarks. The BOD noted that with the accounting adjustments stated, the Company will have met 4 of the 6 initial listing standards required for the MKT Exchange. $4 MM in Stockholders Equity, 400 public Shareholders, 1 MM share public float, and a 2 year operating history, leaving only a $15MM float valuation and a stock price of $3/SH as the final qualifications. A representative of the Company opined that it was the BOD's opinion that these final conditions would be satisfied as the company neared its planned $3 Million ARCHER hedge fund seed financing.
The BOD concluded that reaching the $4 Million Shareholders Equity benchmark, and the Buyback and Rescission Program combined with other recently implemented strategies are effectively altering the Company's financial profile to meet the financial requirements outlined within Tier 2 of the qualification standards for the NYSE-MKT Exchange, (formally referred to as the ALTERNEXT). All prerequisites including a $4 Million valuation requirement, are steadily being achieved. The stock buyback and rescission strategies are designed to gain the equity leverage and stock price levels required to meet the qualification standards of the exchange. These benchmark achievements matched with the addition of a revenue dimension should effectively alter the overall financial profile of the Company, justify an increase in the market valuation of ARCHER and Syndication, and produce a subsequent positive affect on our stock price.
When asked to describe why ARCHER is creating such a buzz in the day trading market, the CEO responded, "take 2 minutes, click the link below and watch todays "Trade of the Day" video on our DTX You Tube page, and then you'll quickly understand", said CEO of Syndication Inc., Sorrentino.
SEE ARCHER IN ACTION; Trade of the Day; on YOU TUBE: https://www.youtube.com/channel/UCy6cbOBL89UpZEC5tKlyeBg
"FREE LIVE TRADING ROOM VISITORS PASS"
DTX invites investors and traders of all experience and those simply curious about day trading to watch and listen to our professional traders make live trade calls in the DTX trading room. To schedule a FREE LIVE TRADING ROOM VISITORS PASS simply go to www.daytradexchange.com and enter your e-mail address and a trading coordinator will contact you with arrangements, (no credit card required). Login to DTX's live trading room from your computer and witness professional traders call trades in crude oil (CL), natural gas (NG), Russell 2000 (TF), Euro Currency (6E), S &P 500 (ES) and other futures markets. The trading room is open to members 24/7 but, only hosted by professional traders Monday -- Friday 8:30 to 11:30 AM EST. Day traders hold no open positions overnight and depending on market conditions, trades can happen relatively quick. With holding times of less than 5 minutes the trading room can provide many opportunities to profit. Witness firsthand how the ARCHER trading indicator provides our members with the trading edge they need to become profitable day traders.
Contact the Company to register for your FREE LIVE TRADING ROOM VISITORS PASS. Additional information on quarterly, semi-annual and annual trading room subscription packages as well as the ARCHER Software lease program is available by calling DTX at 888-422-5515 or by going to; http://daytradexchange.com and entering your e-mail address. Active traders are welcome to call and take advantage of our FREE 3 DAY live trading room trial.
Day TradeXchange, where day traders trade.......
DTX; Trade of the Day; on You Tube: https://www.youtube.com/channel/UCy6cbOBL89UpZEC5tKlyeBg
ARCHER in the NEWS; http://www.syndicationinc.net/news.php
UPTICK NETWORK NEWS RADIO; Live Interview with Syndication CEO, Brian Sorrentino; https://upticknewswire.com/uptick-network-interview-with-ceo-brian-sorrentino-with-syndication-inc/
STOCK RADIO; LIVE Interview with Syndication CEO, Brian Sorrentino: http://thestockradio.com/otcpink-synj-syndication-inc-ceo-brian-sorrentino-2013.html
Follow Day TradeXchange at www.daytradexchange.com
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
CONTACT: John Ford Director of Trading 1-888-422-5515 firstname.lastname@example.org
Source: Day TradeXchange