Business
TNI BioTech, Inc., Announces Correction of Dividend Disbursement
TNI BioTech, Inc., Announces Correction of Dividend Disbursement.
About this update from Biostax Corp.
[{"type":"text","content":" 0 0 1 646 3688 Brinen & Associates 30 8 4326 14.0 Normal 0 false false false EN-CA JA X-NONE /* Style Definitions */table.MsoNormalTable\t{mso-style-name:\"Table Normal\";\tmso-tstyle-rowband-size:0;\tmso-tstyle-colband-size:0;\tmso-style-noshow:yes;\tmso-style-priority:99;\tmso-style-parent:\"\";\tmso-padding-alt:0in 5.4pt 0in 5.4pt;\tmso-para-margin:0in;\tmso-para-margin-bottom:.0001pt;\tmso-pagination:widow-orphan;\tfont-size:11.0pt;\tfont-family:Calibri;}TNI BioTech, Inc. Announces Correction of DividendDisbursement West Palm Beach, FL - TNI Bio Tech, Inc.(Pink: TNIB) (the “Company”) the Company was recently made aware of a non-materialissue with the dividend issued on April 30, 2012 by TNI BioTech. TNI BioTech onApril 16, 2012 announced a dividend to its shareholders asof April 23, 2012, the record date. The Board unanimously approved a sixpercent (6%) dividend calculated based on the number of shares thatwere to be outstanding after the issuance for the acquisition of TNI andawarded to shareholders of record before the close of the acquisition. FINRA sentnotice to the Company and Signature Stock Transfer on April 20, 2012 declaring thedate of payment for the dividend to be April 30, 2012. Signature Stock Transferwas to issue the dividend shares on April 30, 2012 to the common shareholders inproportion to their percentage of common shares owned on April 23, 2012, therecord date. Signature StockTransfer mistakenly issued a dividend based on the number of shares outstandingbefore the close of the acquisition. TheCompany has instructed its new transfer agent, Issuers Direct, to deliver thecorrect number of shares authorized under the dividend to the shareholdersaccording to their ownership percentage of common shares as of the record date.Per disclosure to FINRA this dividend is a restricted stockdividend and all previously issued shares for distribution as well as newlyissued shares will be distributed containing a restricted legend. The Board ofDirectors and Management of the Company sincerely apologize to the shareholdersfor the confusion that this may have caused. AboutTNI BioTech, Inc.: TNI BioTech, Inc. is a biotechnologycompany researching new treatments and methods for treatment of cancer,HIV/AIDS, and certain autoimmune and other infectious diseases. The primar...