MANASSAS, VA, April 7 /PRNewswire/ - Having received approval for the Amendment to its Articles of Association to accommodate the exchange and cancellation of all issued and outstanding common for voting preferred stock, the Company has today filed with FINRA all required documents pursuant to this corporate action.
The overwhelming majority shareholder support received by 8000 Inc., some 300 plus positive responses to date with copies of account positions and testimony, identified that these 300 accounts hold of record over 170MM shares. This is significantly greater than the number of shares issued by the Company and does not include 41 Broker-Dealers known to hold 8000 Inc. stock in their client accounts. 8000 Inc has asked respectively the SEC and FINRA to advise how 8000 Inc. should identify which shareholders actually own real shares and which do not so that the majority approved exchange can be consummated. 8000 Inc. will update the shareholders of any response and we believe that there is a mechanism in place to manage this discrepancy prior to the exchange being concluded.
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This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of 8000 Inc. see published disclosure documents at OTCMarkets. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.