Macada Holding, Inc. Announces Company Update
25 August 2009 - 10:30PM
Marketwired
Macada Holding, Inc. (PINKSHEETS: MCDA) announced that management
intends to sell the company's subsidiary LyfeTec, Inc, together
with its assets, to an OTC Bulletin Board company. Management
stated that Macada Holding, Inc. is in the process of finalizing
definitive agreements regarding its recently announced letter of
intent to acquire Macada Design Group. Upon completion of this
acquisition, current management expects to resign and move on to
manage the new OTCBB parent company of LyfeTec and assets. To this
end, management has increased the transparency of the company
through public disclosure and the posting of financial statements
which has resulted in the removal of the "caveat emptor"
classification on pinksheets.com which has resulted in
shareholders' and market makers' increased ability to trade the
company's common stock.
Management stated that LyfeTec's continued focus will be in the
medical industry, and that the acquiring company will be released
upon completion of due diligence and the signing of non-disclosure
and confidentiality agreements in addition to acquisition
agreements. As a fully reporting company, management will continue
to target other medical industry companies for acquisition.
Management stated that negotiations are underway with five
companies with respect to potential acquisitions, some of which
will generate immediate revenues for the company.
Once all deals are completed, Macada Holding shareholders will
receive a pro rata dividend of the new parent Bulletin Board
company while retaining their Macada Holding shares. As of today's
date, the company's share structure is:
(i) Number of shares authorized; 1,000,000,000 of which Preferred is
100,000,000.
(ii) Number of shares outstanding; Common: 6,965,077
Preferred 77,000,000 class (A).
(iv) Freely tradable shares (public float); 4,974,379
Safe Harbor Provision
This news release includes forward-looking statements, including
with respect to the future level of business for the parties. These
statements are necessarily subject to risk and uncertainty. Actual
results could differ materially from those projected in these
forward-looking statements as a result of certain risk factors that
could cause results to differ materially from estimated results.
Management cautions that all statements as to future results of
operations are necessarily subject to risks, uncertainties and
events that may be beyond the control of Macada Holding, Inc. and
no assurance can be given that such results will be achieved.
Potential risks and uncertainties include, but are not limited to,
the ability to procure, properly price, retain and successfully
complete projects, the availability of technical personnel, changes
in technology and competition.
Contact: Steven Cohen 954-772-2640
KMA (CE) (USOTC:MCDA)
Historical Stock Chart
From May 2024 to Jun 2024
KMA (CE) (USOTC:MCDA)
Historical Stock Chart
From Jun 2023 to Jun 2024