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Major Shareholder of Muscle Warfare International Retires 104,176,805 Million Shares and Sets a New Record Date for Common Stock Dividend to its Shareholders
Major Shareholder of Muscle Warfare International Retires 104,176,805 Million Shares and Sets a New Record Date for Common Stock Dividend to its Shareholders.
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[{"type":"text","content":"\n\n\n\nMajor Shareholder of Muscle Warfare International Retires 104,176,805 Million Shares and Sets a New Record Date for Common Stock Dividend to its Shareholders\n\n\n\n\n\nMajor Shareholder of Muscle Warfare International Retires 104,176,805 Million Shares and Sets a New Record Date for Common Stock Dividend to its Shareholders\nPR Newswire\nWELLINGTON, Florida, January 7, 2014\n\n\n\nWELLINGTON, Florida, January 7, 2014 /PRNewswire/ --\n\nMuscle Warfare International, Inc (OTC: MWAR) today announced that its Board of Directors has approved the retirement of 104,176,805 million common shares to the Treasury and has set a new record date of January 7, 2014 for the dividend of its common stock to its shareholders.\n\nThe retirement of the common shares gives us a total of 35,525,631 million outstanding shares prior to the stock dividend. As soon as, the dividend shares are issued we will update the share structure on OTC Markets.\n\nAll shareholders of MWAR owning common shares on the record date of January 7, 2014 shall receive two (2) shares of MWAR common stock for every share held by such a shareholder. For example, if a shareholder owns 10,000 shares of MWAR common stock at the close of business on January 7, 2014 that shareholder shall receive 20,000 additional shares of MWAR common stock.\n\nMWAR management stated that the Board approved this stock dividend to reward the loyalty and patience the shareholders have shown as the Company has developed its business plan from concept to operations.\n\nThe dividend common shares will be \"restricted\" as defined in the Securities Act of 1933. Rule 144 allows for the public resale of restricted securities only if certain holding period and other conditions are satisfied. The start date for the holding period for the dividend shares shall be the record date of January 7, 2014.\n\nPer FINRA requirements for market transparency, the Company is required to provide notice to and receive acceptance from FINRA prior to the actual distribution of the dividend. Pending any unforeseen delays from FINRA, the Company plans to have the aforementioned stock dividend paid and distributed within three to four days. The payment of the dividend will not require an increase in the total number of authorized shares of common stock nor is there a need for an exchange of certificates.\n\nAs soon as...