New ETF Book by Larry Connors - Click here to read more
Current BZTG shareholders will be able to exchange 1 share in BZTG for 1 share in the new entity at the time of listing. The share structure of the new entity will exactly reflect the current 300m with no additional issue. After which the new entity will take control of the Texas entity and will see it trading as an ADR on the NASDAQ.
Participants in the IPO will need to acquire BZTG stock on market as will Investment Houses and Brokers involved in the IPO. Two Hong Kong brokers are competing for the IPO and an announcement for the lead position will be made in the coming weeks.
The IPO will be released to qualified, professional investors only in Asia. The new structure will allow for a more rapid expansion in China as well as being a tax effective base for the company to grow from. It will also bring to an end the opportunity for the rampant naked short selling practices that have spread through our current exchange.
The make up of the Hong Kong Board will be predominantly new and in keeping with the company's strong focus on Asia. The IPO will be featured at the upcoming SMART Investment Expo in Hong Kong www.smartexpos.com.
Some Directors of the Company intend on increasing their holdings but prior to that acquisition it should be pointed out that:
1. The Company has in the past released financial information 2. The Company has beaten expectations every quarter since inception 3. Estimates of $120m in revenue for 2009 may be revised upwards.
To allow for the proper dissemination of these press releases, directors will not be buying on market for the next 7 days. The directors believe this results in maximum shareholder value.
About Buzz:
Buzz Technologies, Inc. is a convergent media company with operations ranging from infrastructure development to online retail.
The foregoing press release contains forward-looking statements based on the Company's beliefs as well as assumptions made by and information currently available to the Company, including statements regarding the timing of the introduction of certain products. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties which are identified and described in the Company's registration statements and periodic reports on file with the SEC, some of which are beyond the Company's control. Actual results could differ materially from these forward-looking statements as a result of a variety of factors including, among others, issues related to the travel and transportation industries, and prevailing economic conditions in general. In light of these risks and uncertainties, or should underlying assumptions prove incorrect, there can be no assurance that the forward-looking statements contained in this press release will in fact transpire or prove to be accurate.
Buzz Technologies, Inc.
Srisoonthorn Road Cherngtalay, Phuket, Thailand
CONTACT: Beth Simpson, Marketing Director, Buzz Technologies, Inc Tel: +668 7272 1727 e-mail: beth@12buzz.com WWW: http://www.12buzz.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
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