HOLLYWOOD, Fla., Feb. 21, 2017 /PRNewswire/ -- Sunshine Capital, Inc. (Pink Sheets: SCNP) Today announced major changes to the Company corporate share structure. These changes include:
- The cancellation of 77% or 56,303,003 common shares of the Company, reducing the total issued and outstanding share count of Sunshine Capital, Inc. to only 16,997,000 shares of common stock. In exchange for the cancellation of 56,303,003 common shares of Sunshine Capital, Inc., DIB Funding, Inc. will receive 1,000 shares of voting preferred stock.
- A dramatic decrease of the authorized common shares from its current level of 1.5 Billion down to 17 Million.
Once DIBCOIN is trading, the reflection on the company's balance sheet will provide an alternative source of capital, thus making future loans or share issuance unnecessary. The company further states that it never intends to issue another share of stock, which guarantees the shareholder's ownership in the Company will never be diluted.
"The controlling shareholder has canceled their shares to guarantee the success of this Company and to increase the book value of all remaining shares outstanding," Stated, Adam Petty, President and CEO of Sunshine Capital, Inc. "With the cancellation of these shares, every penny ($.01) DIBCOIN trades at, once trading commences in the near future, will instantly provide Sunshine Capital, Inc. access to nearly $40,000,000 in capital and results in a net asset value, of Sunshine Capital, Inc., stock by approximately two dollars and thirty-five cents ($2.35) per share."
"Our next step is the listing of DIBCOIN on a global exchange," stated Honson Luma, Vice President of Sunshine Capital, Inc. "By the end of this quarter, March 31, 2017, I believe that all our shareholders, who have stayed with us through our developmental stage, will be extremely happy when the Company reports a dramatic increase in assets due to the launch and subsequent trading of DIBCOIN."
In addition, Sunshine Capital, Inc. announces that all the DIBCOIN transfers have been completed to all shareholders of record as of October 10, 2016, which was part of the special opportunity to the shareholders of Sunshine Capital, Inc.
The private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond control of the company, actual results may differ materially from the expectations expressed in the forward-looking statements.
Sunshine Capital, Inc.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sunshine-capital-inc-announces-the-cancellation-of-77-or-56303003-shares-of-its-common-stock-300410896.html
SOURCE Sunshine Capital, Inc.