Atlas Technology Reports on Capital Structure Almost 80 Percent of Shares in Public Float Confirmed in Combination of Certificate Form, in Deposit Process, or in "Hold" Position; Data Indicates Heavy Short Position
DOVER, N.H., March 18, 2013 /PRNewswire/ -- Atlas Technology Group, Inc. (OTC Pink: ATYG), the holding company for Racing Limos America, Inc., (http://www.racinglimosamerica.com/) an emerging advertising and marketing company with franchise operated locations, specializing in multi-media marketing partnerships, announced today that pursuant to the stock buyback announced last week, interesting data has been gathered regarding the trading activity in the Company's stock. Currently in the public float, there are just over 4.7 billion shares, and over 3.7 billion of these shares remain in certificate form, are still in the deposit process, or have been confirmed as in a "hold" position. During this last week, over 385 million shares were traded; according to otcshortreport.com, over 241 million shares of the volume were sold short. See this link: http://otcshortreport.com/index.php?index=ATYG&action=view
Nevertheless, Atlas Technology is committed to buying back half of the public float. CEO James Albion said, "I am mystified over how these institutions can abuse micro cap companies. We are going to continue the fight and force coverage of these short positions. Our business is moving along nicely; we expect to make several announcements on expansion of business internationally in the coming weeks. There is no reason for the unconscionable actions on the part of trading institutions to try to put us out of business.
"I have personally verified the whereabouts of nearly every share of our stock. As stated, almost 80 percent of the stock in the float is either in certificate form, has not completed the deposit process, or has been confirmed to be in a 'hold' position. So how can it be sold legally? We are continuing to gather financial resources to get our stock price back to respectability. We will win this battle," Albion concluded.
About Atlas Technology Group, Inc.
Headquartered in Dover, NH, Atlas Technology Group, Inc. is a holding company, with its primary holding being Racing Limos America, Inc.
Forward Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
CONTACT: Atlas Technology Group, Inc.: Investor Relations at (603) 285-0015 or by email at email@example.com; view our FACT SHEET at:
SOURCE Atlas Technology Group, Inc.