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The Automotive Resource Network Holdings, Inc. (ARNH) Announces It will be issuing Anti-Dilutive Convertible Preferred Securities to all of its common shareholders to protect their Investments.
The Automotive Resource Network Holdings, Inc. (ARNH) Announces It will be issuing Anti-Dilutive Convertible Preferred Securities to all of its common shareholders to protect their Investments..
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[{"type":"text","content":"\n\n\n\n\n\n\n\nThe Automotive Resource Network Holdings, Inc. (ARNH) Announces It will be issuing Anti-Dilutive Convertible Preferred Securities to all of its common shareholders to protect their Investments.\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nThe Automotive Resource Network Holdings, Inc. (ARNH) Announces It will be issuing Anti-Dilutive Convertible Preferred Securities to all of its common shareholders to protect their Investments.\n\nPR Newswire\n\nNEW YORK, April 25, 2013\n\n\n\n\n\n\n\n\n\n\n \n \n\n\nNEW YORK, April 25, 2013 /PRNewswire/ -- (OTC Pink: ARNH) The Automotive Resource Network Holdings Inc.'s CEO, Kathleen Roberton, is pleased to announce that ARNH is set to issue a specific class of Anti-Dilutive Convertible Preferred Securities to all of its common shareholders. The massive dilution, in the market, that was incurred through the removal of CONVERTIBLE DEBT on the Company's balance sheet wiped out a lot of equity that shareholders had in ARNH's security. \n\n\nCEO Kathleen Roberton states, \"We had to remove the compounding convertible debt off of our balance sheet because it was a derivative liability that would have destroyed ARNH's future growth prospects. We knew that signing off on these issuance resolutions might destroy shareholder value, but it was a necessary evil, if we were going to attract new equity to our balance sheet, and start meeting the objectives of our Three Step Plan. We have thus, come up with a solution to protect our stock holders from the losses they incurred in the open market. \n\n\nWe are going to issue our stockholders, who are on our NOBO list, Anti-Dilutive Convertible Preferred Shares that are priced at $2.50 per share, but convert at our par value, $0.00001 par. These securities will be issued to each stockholder, at no cost to the recipients. Next, we are then going to ask our stockholders to convert 1 or 2 preferred shares into 100,000 / 200,000 common shares, through our Transfer Agent, once we restructure the price and the Issued Capital of the Company....