Alaska Pacific Energy Corporation Announces a March Filing of its Restricted Convertible Preferred Stock Dividend, pending FINRA Approval
Feb 22, 2014
OTC Disclosure & News Service
ACCESSWIRE) 02/22/2014 8:00:00AM - Alaska Pacific Energy Corporation.
(OTC PINK: ASKE ) is pleased to announce that, pursuant to its press
release on Dec 23, 2013, it will be filing a Corporate Action with
FINRA, before the middle of March, to issue a restricted stock dividend
to its shareholders in street name. Shareholders will be delivered
physical certificates of Convertible Preferred Stock to their addresses
of record, or Broker/Dealer bearing a restrictive legend that will have a
holding period of one year. Details of the record date and dividend
will become available to the shareholders once FINRA has approved the
Filing.
Dominick Falso, the President of Alaska Pacific Energy Corporation states, " There has been significant dilution over the years in Alaska Pacific Energy Corporation, and the reason for that has been the issue of non affiliated debt in the company, which has gone unsettled. We have negotiated settlements for many of our debt holders now, as is our contractual responsibility, but we also want to protect the integrity of people's investments in the open market.
Part of changing the business culture of Alaska Pacific Energy Corporation is acknowledging the fact that our market has not performed to the satisfaction of our stock holders. Issuing restricted convertible preferred securities to those who own stock in the open market makes sense, because the dilution has impacted them the most. The rights and privileges of the restricted convertible preferred securities have already been noted in the company's amended articles of incorporation. The Record Date & Payment Date will be known to our stockholders, once FINRA approves the Filing."
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties. Company Contact Information:
Mr. Dominick Falso, President