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Veridigm, Inc. (DE) will be name changed to Mobile Media Unlimited Holdings, Inc. (DE) in due course.
The Veridigm Board of Directors and MMU Advisors has welcomed incoming Chairman, Chief Executive Officer Anthony Sasso.
Veridigm President Gary Freeman said, "We have gone to extraordinary lengths to ensure that the Veridigm entity is up to date in all areas of previously unpaid taxation and that Veridigm is in good standing. This arduous task was necessary for the caliber of MMU clients who require qualifying 'means tests,' as well as long overdue Veridigm housekeeping in preparation for Y/E 2008 consolidated auditing and re filing for OTC BB listing status. Simultaneously, MMU's investors garnered control of a 'to be named' secondary US public company which will be utilized for alternative MMU financed projects, proprietary database research and analysis tools, licensing & branding of applications to 3rd parties, joint ventures & other miscellaneous investments that do not immediately qualify as MMU/Veridigm core competencies."
Manny J. Shulman, managing partner of Shulman and Associates, who advises Sasso, MMU and Veridigm, said, "We are now satisfied that the criteria and qualifications of Veridigm are habitable for the MMU deal. Veridigm has just effected common stock cancellations to its treasury of 40,111,000 or 14.6 percent shares of common stock. We have formally closed Veridigm's Regulation D 504 offering as of 12/31/08 and irrevocably cancelled all outstanding Reg D 504 exemption legal opinions, Blue Sky exemptions and previously issued 504 shares are no longer exempt from registration. The company is reporting a not inconsequential & wholly unexplainable differential between its free trading common share count issued and outstanding as reported by CEDE & Co/DTCC and its common share NOBO/OBO count as reported by S&P as compared to its recent Transfer Agent ledger. We do not foresee an immediate resolution of this suspicious differential and we believe this differential may be responsible for VRGD's recent and extended price and volume volatility.
"The company's equity capital remains 510,000,000 shares authorized. 72 percent of 100 percent of the controlling VRGD super voting preferred shares are owned by MMU entities & Mr. Sasso. These preferred shares have no conversion ability to common under present restrictions. The remaining 8 percent of VRGD preferred shares are now owned by two institutional clients who have no ability to convert to common under present restrictions. For more information about MMU's unique business platform please visit www.mmusms.com."
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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