Syndication Inc. CEO Reminds Shareholders of Combo Stock Dividend; 1.25% SYNJ.PK & 25% of BEEN.PK Holdings; Record Date of March
23 March 2011 - 12:37AM
Syndication Inc. (Pink Sheets:SYNJ) CEO reminds its Shareholders of
the Combination Restricted Common Stock Dividend. The RECORD DATE
of the dividend is March 31st, 2011. The Company advises
shareholders to contact their brokerage house to determine their
individual X Dividend Date. Normally 3-4 days prior to the Record
Date, the X Dividend date can fluctuate between houses for a myriad
of reasons and shareholders must own Syndication Stock on the X
Dividend Date in order to avail themselves of the issuance. The
issuance will include a 1.25% Restricted Common Stock Dividend of
the Company's .0001 Par value Common and a 25% distribution of the
Company's 10% holdings in Better Environment Concepts Inc., (Pink
Sheets:BEEN) trading on the Pink Sheets OTCBB.
It was further resolved by the Board that the Company will
adhere to a strict dividend issuance schedule and authorized the
CEO to begin the process of releasing the same dividend for the 2nd
Quarter 2011 with a "Declaration Date" on or about April 2nd 2011.
The Board also took further steps to enhance the Company's Dividend
program by creating an affordable service that would enable our
shareholders to have the restrictive legends on their dividend
shares lifted. It is anticipated that the charge for the service
will be approximately $50.00. The Board expects to launch the
service in coordination with our transfer agent as soon as the
amended restrictive legend to be stated on the dividend shares is
approved by each of our legal teams.
"The dividend policy of the Company is designed to increase
equity valuation, enhance the potential for equity investment,
discourage short trading activity and, most importantly foster a
longer term investor attitude. As the growth in valuation of the
Company becomes realized the dividends will become a strong
attraction to new shareholders. I also recognize that our dividend
policy is problematic to market makers holding short positions in
our stock and I feel sure that this dividend issuance will cause
real attention demands. However, I will not deny dividends to our
shareholders because, the ability of market makers trading our
stock for the purpose of their own self profit, becomes
complicated," said the CEO of Syndication Inc.
After receiving multiple independent appraisals on the actual
condition of our target warehouse the investment oversight
committee consisting of representatives of Syndication Inc. and
Better Environment Concepts Inc. (the Company's investor/financer),
concluded that the roof of the warehouse was too damaged to repair
and must be completely replaced. Further findings of the committee
revealed that the original estimate represented by the seller/bank
of $100,000.00 to $125,000.00 to repair the roof could not be
guaranteed for more than one year and left the building
un-insurable. The best estimate proposed for the replacement of the
entire roof was approximately $640,000.00 dollars placing the total
required investment for the property at $1,140,000.00 and well out
of a competitive price range. The Committee passed a motion to
approve a counter offer of $175,000.00 "as is" for the purchase of
the foreclosed property. The Company is moving forward on this
premise.
The Company has been informed by our legal counsel that the
International Fraud Investigation Division of HSBC has provided
testimony by way of affidavit indicating that the $5 million SBLC
provided by Capital Assets Holding Co. drawn off the HSBC Bank of
London was in fact a fraudulently produced counterfeit document.
Further testimony and discovery provided under oath by the
Defendant John Mulvana revealed that Mr. Katsburg and/or Mr.
Liverett provided him with fraudulently fabricated company minutes
bearing the forged signatures of the Company's officers authorizing
the release of the Company's escrowed funds. The defendant has
withdrawn his motion for dismissal and we have granted him the
right to interplead the funds held in escrow and to file cross
complaints against other parties to the transaction that he may
believe hold a share of the legal and financial responsibilities
asserted in our claim against him. We have made it clear to the
defendant by way of counsel that we have no intention of settling
and expect to receive a full recovery of our $592,000.00 of
escrowed funds as well as punitive damages and legal fees. The
company is highly confident that it will prevail in these matters.
The Board remains resolute to the execution of our business plan
and the belief in our future. We believe that the dividends play an
important role in the long term development of our stock valuation.
In our opinion, they will become valuable both monetarily and as a
recognized function of our Company culture. The pursuit of the
alternative energy market is still in its embryonic stage and South
Carolina is one of its frontiers. The State is aggressively
courting Syndication/SRE S.C. as a player in their business
community. We are using their economic dearth as leverage to
convert our business plan from chalk board to practical
application. An interesting revelation fostered by the task is that
it can be done much cheaper than originally anticipated and the
opportunity for profits is far greater than originally forecasted.
As issues develop the Company will release details on the Lake City
S.C. warehouse purchase and the status of the counter offer and
roof replacement, legal issues related to the $5 million dollar
loan escrow and the 2 Consulting Agreements with Better Environment
Concepts Inc., (the Capital Market and Acquisition Structure
Agreement and the SRE S.C. Inc., Plant Operations Oversight
Agreement).
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: Syndication Inc.,
Brian Sorrentino Phone: 888-422-5515
or go to Syndicationinc.net
For all mail correspondence; Box 503, Damascus, MD 20872
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