WELLINGTON, Florida, December 17, 2013 /PRNewswire/ --
Muscle Warfare International, Inc (OTC: MWAR) today announced that its Board of Directors has approved a dividend of its common stock to its shareholders.
All shareholders of MWAR owning common shares on the record date of December 31, 2013 shall receive two (2) shares of MWAR common stock for every share held by such a shareholder. For example, if a shareholder owns 10,000 shares of MWAR common stock at the close of business on December 31, 2013, that shareholder shall receive 20,000 additional shares of MWAR common stock.
MWAR management stated that the Board approved this stock dividend to reward the loyalty and patience the shareholders have shown as the Company has developed its business plan from concept to operations.
The dividend common shares will be "restricted" as defined in the Securities Act of 1933. Rule 144 allows for the public resale of restricted securities only if certain holding period and other conditions are satisfied. The start date for the holding period for the dividend shares shall be the record date of December 31, 2013.
Per FINRA requirements for market transparency, the Company is required to provide notice to and receive acceptance from FINRA prior to the actual distribution of the dividend. Pending any unforeseen delays from FINRA, the Company plans to have the aforementioned stock dividend paid and distributed within three to four weeks. The payment of the dividend will not require an increase in the total number of authorized shares of common stock nor is there a need for an exchange of certificates.
About Muscle Warfare International, Inc
(MWAR) Founded in 1985 and headquartered in Wellington, Florida, United States, our business model is to research, evaluate, and acquire profitable private firms in the business segments of sports nutrition, energy, and business services for the benefit of our shareholders. By providing the financial and human capital necessary to deal with the overwhelming administrative, planning, governance, compliance, and regulatory issues that abound, our partners can focus their energy and flourish.
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FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the holding industry; the positioning of Muscle Warfare International, Inc. in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Muscle Warfare International, Inc. can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
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SOURCE Muscle Warfare International, Inc