DDS Technologies USA, Inc. (DDSU) China Container Co Merger
HENDERSON, NV, April 14 /PRNewswire-FirstCall/ - DDS Technologies USA, Inc. (DDSU; www.ddstechnologiesusa.com) further to the company news of March 16 2010 the company is pleased to announce that it has secured a serious merger candidate following the Shareholder and Business Expo Conference. DDSU discussions with a China based Container manufacturing and assembly company continues. This company enjoys gross annual revenues in range of several million USD and profits in range of couple million USD. Spearheading the merger is the CEO of LandStar Inc Mr. Lee Congtang (LDSR) http://www.landstarcorp.com) who has been hard at work for several months working to make this merger a reality.
For reference purposes only, the targeted merger company is a supplier to LandStar. LandStar's operating subsidiary Hubei Chuguan Technology Co. Ltd. manufactures Vapor Recovery Units for the Chinese petrochemical industry, minimizing petrochemical evaporation that occurs during the transfer of volatile petrochemical fluids. Under the merger - amalgamation arrangement LDSR intends to acquire a majority position in DDSU Systems, Inc. (Approximately 15%)
Following this power-merger - amalgamation and in order to complete the transaction, DDSU completed a recapitalization to 880 million shares. Approximately 500 million restricted shares will be used up for the merger. The recapitalization documents will shortly be uploaded to the www.ddstechnologiesusa.com web site.
A source close to the company stated, "This will be a tremendous shot in the arm for the current investors of DDSU. We hoped for a solid company with good prospects and we got that -- that along with a sister and a parent company with good prospects and viable business. This complex structure will assure a stability for DDSU, raising us from the Company in Distress to a solid and profitable company that will raise the bar and deliver results to its investors. The LDSR connection offers a tremendous opportunity for the DDSU Systems
Shortly, DDSU will release the identity of the targeted merger company, news release the details or the LOI of the merger, begin updating the DDSU web site, and start appointing new officers and directors to its board from China to name a few.
The company is anticipating completing all of the above within the next 30 to 45 days where a formal merger announcement will be made from China from the operational head office."
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Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of DDS Technologies USA, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. DDS Technologies USA, Inc. cautions you that any forward-looking information provided by or on behalf of DDS Technologies USA, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. DDS Technologies USA, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond DDS Technologies USA, Inc.'s control. In addition to those discussed in DDS Technologies USA, Inc.'s press releases, public filings, and statements by DDS Technologies USA, Inc.'s management, including, but not limited to, DDS Technologies USA, Inc.'s estimate of the sufficiency of its existing capital resources, DDS Technologies USA, Inc.'s ability to raise additional capital to fund future operations, DDS Technologies USA, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match DDS Technologies USA, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. DDS Technologies USA, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT: For any investor relations matters, please contact www.minamargroup.net/helpdesk; Investor Relations Department Inquiry,www.minamargroup.net (IR); For (M&A) and Corporate Matters,www.minamargroup.com
SOURCE DDS Technologies USA, Inc.
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