Business
Syndication; CEO INITIATES STOCK BUY BACK & RESCISSION PROGRAM, RESCINDS 250 MILLION COMMON; BOD REQUEST INCREASE to $5 MILLION from INITIAL $1 MILLION INDEPENDENT AUDIT EQUITY VALUATION on ARCHER SOFTWARE
Syndication; CEO INITIATES STOCK BUY BACK & RESCISSION PROGRAM, RESCINDS 250 MILLION COMMON; BOD REQUEST INCREASE to $5 MILLION from INITIAL $1 MILLION INDEPENDENT AUDIT EQUITY VALUATION on ARCHER SOFTWARE.
About this update from Day Tradexchange, Inc.
[{"type":"text","content":"\nDAMASCUS, MD., July 28, 2015 (GLOBE NEWSWIRE) -- Syndication Inc., (SYNJ.PK), reports that on July 20th, 2015 at the request of the CEO the BOD of Syndication authorized the CEO to take the necessary steps to rescind 250 million issued and outstanding shares of the Company's Common Stock to the Treasury. The Company declared this action as the first of multiple scheduled steps in a Stock Buyback and Rescission program designed as part of a comprehensive Company Capitalization Policy implemented to increase equity valuation, enhance the potential for equity investment, discourage short trading activity and, most importantly foster a longer term investor attitude.\n\t\n\tFurther BOD actions called for the Company's independent accountants to increase to $5 Million from the initial $1 Million equity valuation on the Company's ARCHER Trading Software reported on SYNJ's 1st Quarter 2015 Financial Statement, (balance sheet). The Company's outside accountants initially agreed to a $1 Million valuation on ARCHER with the caveat that it would consider valuation increases based on benchmark development achievements and sales performance. The BOD made prey for a $4 Million valuation increase based on the NINJATRADER product distribution and marketing agreement executed earlier in the 2nd Quarter 2015. The BOD anticipates a warm reception to its request opining that the upward adjustment if successful, should be reflected in the Company's 3rd Quarter 2015 Financial Filing.\n\t\n\tAside from being one of the most advanced forecasting trade indicators available to non-institutional day traders today, investors interested in the stock of the Company should not overlook the potential impact of ARCHER and NINJATRADER using an effortless and seemliness \"point and click\" delivery and distribution system to generate sales. The indicator is software that requires no production facility, no shipping or handling, and is accessible by simply clicking the icon on the NINJA trading platform currently being used by 75K day traders. Billing is automatic and can be handled by NINJATRADER as an add-on feature through its normal monthly billing cycle. \n\t\n\tWhen asked to comment on the new Capital Policy strategies the CEO stated, \"The $5 Million valuation and Buy Back initiatives are important to our long term goal of upgrading the Company's listing t...