Mon Arc (MONA) Various Corporate Update And Multiple Dividend Distributions (LDSR), (GLCC) and (RMDM)
MONTREAL, Feb. 6 /PRNewswire-FirstCall/ - www.monacorporation.com - The Company (MONA) has been receiving a very high volume of investor enquiries regarding the status of dividends that have been previously announced. Investors should note that all of the dividends previously announced are still forthcoming, but there have been unforeseen delays in processing and executing the distribution of these dividends, which are beyond the control of the company.
Many of the delays that have been encountered relate to the complexity of calculating the quantity of shares or cash amounts to be distributed and determining the accuracy of the distribution to shareholders entitled to receive them. The company's transfer agency has been working diligently with the various regulatory bodies to ensure that these distributions are handled in a manner that can reliably verify the accuracy of the distribution process. The fact that a number of these dividends require the identification of shareholders at a previous point in time, and verification that qualifying shareholders have held shares continuously between the Date of Record and the ex-dividend date as announced, have led to some unanticipated difficulties. Until these are resolved to the satisfaction of all regulatory parties, the dividends cannot be distributed. Moreover the company is still to receive some of these as payment in order to make a distribution.
The dividends in question include the following:
1. A cash dividend declared on October 7, 2008, of $0.20 per share is to
be paid to shareholders who have held their shares continuously since
September 30th, 2005. A certain provision excludes payment to
management, insiders, and founders of MonArc Group, adding to the
complexity of the calculations. This cash dividend was allocated and
designated to shareholders who invested in the company in 2005 when
the company's operations were crippled by the 4 consecutive
hurricanes which effected the company's operations while it was
located in Florida.
2. Each qualified share of MONA will receive 0.123 shares of Emerald
stock in respect of the spin-off of Sino Medica into the Emerald
Capital Group (3EM Frankfurt Exchange). The dividend is to be paid to
shareholders of record as of February 1, 2008. It is MonArc
managements understanding that this company is in the process of
being moved to Pink Sheets from Frankfurt.
3. A stock dividend of 0.0026 shares of Landstar Corporation (LDSR) for
each share of MonArc Corporation will be distributed to shareholders
of record as of February 1, 2008 in respect of the MonArc Group
interest of a spin-off of Hubei Chuguan Industry Co. Ltd. to Landstar
in December, 2008.
4. A stock dividend of shares of RMD Entertainment, Inc. (RMDM) shares
will be distributed in respect of the spin-off of Beijing Innotrek
Technology Co. Ltd. into RMD Entertainment in October, 2008. A total
of 2.4 shares of RMD Entertainment (RMDM) will be distributed for
each share of MonArc Corporation held on the date of record of
October 16, 2008. The total number of shares anticipated to be
distributed is approximately 1,000,000,000. MonArc has not received
these shares yet as this company is in the process of obtaining a new
CUSIP number and a new trading symbol including a stock reverse. MONA
agents are currently in China discussing various options available to
both companies. One option under consideration may involve a post
reverse stock distribution and another where MONA would in a capacity
as a shareholder only acquire and keep acquiring RMDM shares on the
open market. The company sees this as a win win for all concerned and
its recommendations are under review by the RMDM management and its
legal advisors.
The Company is working to ensure that problems with the previous stock dividend of shares of Good Life China Corporation (GLCC) are not repeated. The management sub come to the shareholders pressure to issue these dividends, did so prematurely with the restrictive legend attached 'restricted shares'. In the case of the GLCC stock dividend, many shareholders had their shares directed to their brokerage houses, who in turn as we are advised, recorded the shares under the fictitious ticker symbol 'GOLIF' in order to identify them as restricted shares. The Company has been advised by many of its shareholders that there have been difficulties with this distribution, as the brokerage houses in question are requiring a legal opinion from each shareholder attesting to the fact that the shares can have their restrictive legends removed be provided by each individual shareholder. The company has also learned that Good Life China management franticly tried to recall the dividend as it learned that some of the recipients received their stock as free trading from their brokers, which eroded much of their values on relatively small trades. The management does not intend to make the same mistake again.
To address this issue, the Company will be holding the upcoming share dividends in escrow, until they are satisfactorily aged, and allowed to be distributed as free trading shares under the SEC rules and regulations, with the legal opinion letter attached when distributed to the brokers.
The Company is optimistic that the complications encountered in providing sufficient verification regarding the accuracy of these distributions is close to being resolved, and will be providing updates on developments on a timely basis. The company verily believes that this dividend calculation difficulty is further compounded by the extreme shorting which affected the company's security over the years. Briefly with a name change and a CUSIP change the company was able to shake the short sellers off. Moreover, as evidenced by the ongoing litigation in Toronto Canada where amongst other things the company's previous agents are seeking an injunction against the stock bashers and a blog type web site Investors Hub that caters and harbours these individuals, which encourages factual company information to be removed or deleted while slanderous and erroneous self serving comments designed and crafted by short sellers with the sole intent to exploit the novice shareholders.
Aforementioned dividends # 2 and # 3 namely Sino Medica and Land Star were earned as a consulting fee by the company's Secretary Garr Winters for the benefit of MonArc Group while the company was engaged in the business of a USA based SPC company for the Chinese markets. It should be noted that investors qualifying for these various dividends can expect to receive dividends that will have a material value in relation to MonArc's current share price.
According to the company records, and notwithstanding various financing and recapitalizations the company undertook to acquire these assets and or interests in these assets, which are now being distributed to its shareholders in their entirety, the current actual share structure and float is exorbitant, extensive, and extravagantly, in favour of the company shareholders in comparison to what the market price currently reflects. The company is hopeful that these dividends once calculated and paid out will not only expose the activities of this blog web site and its dark propaganda machine which prays on the novice, and inexperienced shareholders, but will also rain in the short sellers and their activities which went on undetected for a prolonged period of time.
The company wishes to use this opportunity to advise its shareholders that in these currently depressed economic times, MONA remains a viable healthy company with good resources both financially and in human resources with its ITI Bio Tech company flourishing.
Investors seeking more information can contact The Investors Line, www.theinvestorsline.com Tel (860) 819-3746
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
Source: PR Newswire (February 6, 2009 - 12:28 PM EST)
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