Business
Union Dental Clarifies Corporate Share Structure
Union Dental Clarifies Corporate Share Structure.
About this update from Xcelerate Inc.
[{"type":"text","content":"\nUnion Dental Clarifies Corporate Share Structure\n\nUnion Dental Clarifies Corporate Share Structure\n\n\n CORAL SPRINGS, FL--(Marketwired - August 19, 2014) - Union Dental Holdings, Inc. (PINKSHEETS: UDHI) -- http://www.uniondental.com/ir -- a Company that operates and manages a network of dentists throughout the United States for union members as well as two Joint Venture arrangements with Drinkable Air, Inc announced on July 17, 2014 the Company had a total of 300,000,000 shares of Common Stock Authorized by the Company of which 248,321,432 are issued and outstanding. Of that amount the public float or free trading shares are 126,004,437. Of the total issued and outstanding shares Dr. Green holds 111,795,880 and all of those shares are restricted. There are also 10,521,115 restricted shares of stock held by individuals and cannot be sold without a Registration Statement or exempt from Registration and sold under Rule 144.On August 14, 2014 in its quarterly filings made on OTCMARKETS website as of June 30, 2014 the Company listed 300,000,000 shares of Common Stock authorized; 215,658,932 shares issued and outstanding; 146,397,717 Free Trading or public float shares and 69,261,215 restricted shares.The Company wants to clarify that both statements are true and correct. The answer for the different amounts relates to Dr. George Green buying all of the Dutchess shares and all of the underlying shares of stock from the warrant they held. The result of this transaction is that the Free Trading shares that Dutchess owned were then restricted due to Dr. Green's position as a control person. This resulted in the reduction of shares in the public float and due to these shares being restricted under Rule 144 on. Some of these transactions took place in early July therefore could not be listed in the June 30, 2014 filings. The Company feels the shares are undervalued at the current market price and has proven that belief by purchasing these shares from the toxic overhang free trading shares this previous funding created. The manner in which the Dutchess acquisition shares were completed enhanced the shareholder value in the Company by reducing the float and placing these shares in the hands of Dr. Green under 144 restriction.Dr George Green, President and CEO stated: \"Shareholders...