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Alaska Pacific Energy Corporation Announces a March Filing of its Restricted Convertible Preferred Stock Dividend, pending FINRA Approval
Alaska Pacific Energy Corporation Announces a March Filing of its Restricted Convertible Preferred Stock Dividend, pending FINRA Approval.
About this update from Alaska Pacific Energy Corp.
[{"type":"text","content":" Alaska\n Pacific Energy Corporation Announces a March Filing of its Restricted \nConvertible Preferred Stock Dividend, pending FINRA Approval Feb 22, 2014 OTC Disclosure & News Service\n ACCESSWIRE) 02/22/2014 8:00:00AM - Alaska Pacific Energy Corporation. \n(OTC PINK: ASKE ) is pleased to announce that, pursuant to its press \nrelease on Dec 23, 2013, it will be filing a Corporate Action with \nFINRA, before the middle of March, to issue a restricted stock dividend \nto its shareholders in street name. Shareholders will be delivered \nphysical certificates of Convertible Preferred Stock to their addresses \nof record, or Broker/Dealer bearing a restrictive legend that will have a\n holding period of one year. Details of the record date and dividend \nwill become available to the shareholders once FINRA has approved the \nFiling. Dominick\n Falso, the President of Alaska Pacific Energy Corporation states, \" \nThere has been significant dilution over the years in Alaska Pacific \nEnergy Corporation, and the reason for that has been the issue of non \naffiliated debt in the company, which has gone unsettled. We have \nnegotiated settlements for many of our debt holders now, as is our \ncontractual responsibility, but we also want to protect the integrity of\n people's investments in the open market. Part\n of changing the business culture of Alaska Pacific Energy Corporation \nis acknowledging the fact that our market has not performed to the \nsatisfaction of our stock holders. Issuing restricted convertible \npreferred securities to those who own stock in the open market makes \nsense, because the dilution has impacted them the most. The rights and \nprivileges of the restricted convertible preferred securities have \nalready been noted in the company's amended articles of incorporation. \nThe Record Date & Payment Date will be known to our stockholders, \nonce FINRA approves the Filing.\" Safe Harbor Statement:\n This release includes \"forward-looking statements\" within the meaning \nof Section 27A of the Securities Act of 1933, as amended, and Section \n21E and or 27E of the Securities Exchange Act of 1934 that are based \nupon assumptions that in the future may prove not to have been accurate \nand are subject to significant risks and uncertainties, including \nstatements as to the future performance of the ...