Business
Andiamo Corporation (ANDI) Announces a new CEO, Mr. Rick Shykora. Additionally ANDI will be Issuing Anti-Dilutive Convertible Preferred 'C' Securities to All Common Shareholders
Andiamo Corporation (ANDI) Announces a new CEO, Mr. Rick Shykora. Additionally ANDI will be Issuing Anti-Dilutive Convertible Preferred 'C' Securities to All Common Shareholders.
About this update from Utopya Worldwide Holdings Inc
[{"type":"text","content":" Normal 0 Andiamo Corporation (ANDI) Announces that Mr. Dustin Secor will be stepping aside from his duties as CEO in favor of Mr. Rick Shykora. Additionally ANDI will be Issuing Anti-Dilutive Convertible Preferred 'C' Securities to All Common Shareholders with a record date of May 20, 2013.Andiamo Corporation (OTC: ANDI) Announces that Dustin Secor is stepping aside from his duties as CEO in favor of Mr. Rick Shykora. Mr Shykora will be updating the stockholders on the changes to the Board of Directors, and the new direction of Andiamo Corporation. His first major consent action, is to announce that ALL common shareholders, as of record date May 20, 2013 , will be issued Anti-Dilutive Convertible Preferred 'C' Securities due to the price depreciation in the open market. These securities will be priced at $2.50 per share, will be anti- dilutive, convert at $ 0.00001 par value and will be dividend capable. Additionally, once the company is audited, it's value will reflect a true market capitalization of the equity on its balance sheet, these securities will form the reconstituted Issued Capital, that will be registered by ANDI to create new freely traded securities for its shareholders. ANDI will host a conference call on Tuesday May7, 2013 at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to provide further clarification on the rights and privileges associated with these securities, and the new direction of Andiamo Corporation.The live call will include a moderated Q&A, after the prepared remarks by one of Andiamo's professional advisors. The dial-in telephone number for the live audio is as follows:North America: 1.605.475.6700 Access Code 728728#Rick Shykora, CEO,of Andiamo Corporation states, \"Issuing the Anti-Dilutive Convertible Preferred 'C' Securities is an important necessity in protecting the fiscal interests of our common shareholders, particularly since shareholder value has consistently been eroded in our capital market. The issuances of these securities are meant to act as 'PUTS' against reverse splits or any down side pressure from market forces. These are hybrid securities that are designed to protect investors and investments from dilution, while ensuring that the Company does not carry debt on its balance sheet. These securities that are being issued...