The Automotive Resource Network Holdings Today Addressed Shareholders' Concerns Over Aggressive And Unusual Trading.
NEW YORK, May 16, 2012 /PRNewswire/ -- The Automotive Resource Network Holdings (ARNH.PK) today addressed present shareholders' concerns over the recent aggressive and unexplained trading that has taken place. Over the past week a large amount of shares has traded hands and, in our opinion, has clearly been done in an attempt to disrupt the stability of the stock price and gain at the expense of the overall shareholders. ARNH management is aware of 100% of all Free Trading shares available to be sold into the market. As part of the master plan to get the company on a firm financial footing, ARNH was able to "erase" almost ALL of the outstanding debt against the company by issuing the debt holders either a block of restricted or free trading common shares of the company. Kathy Roberton CEO said, "Over many months, plans and overall actions were discussed and agreed upon, in a 'gentlemanly fashion,' with Note Holders of ARNH that were designed to protect long term both the company and the shareholders." Roberton went on to say, "Upon our detailed investigation beginning last Thursday, we have verified the activity of all issued shares except that of the shares issued to settle previous management debt of Diversity Group International. Several requests have been made to verify the detailed activity of this block of common shares, yet parties have failed to respond. In the absence of any communication, I can only conclude, in my opinion, that this indicates a deliberate and intentional attempt to personally gain at the expense of the shareholders and the company. I am appalled and angered by this action, and our SEC attorney is looking into any possible wrongdoing."
ARNH management is confident and excited with both the short term and long term future goals of the company. In conclusion, Roberton went on to say, "We will be releasing a complete DRTV initiative plan and launch dates shortly, and are diligently revamping websites and the network marketing compensation plan to fall more in line with our distributors' wants and needs. This will give us a rock-solid base and revenues to sustain the growth of the company."
About The Automotive Resource Network Holdings, Inc.: The Automotive Resource Network Holdings, Inc. offers a unique month to month vehicle service contract and roadside assistance products direct to consumers through independent sales channels.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release relating to The Automotive Resource Network Holdings, Inc.'s future plans, expectations, beliefs, intentions and prospects are "forward-looking statements" and are subject to material risks and uncertainties. When used in this press release, the words "will," "future," "expect," "look forward to," similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Diversity Group International, Inc. (the "Company") that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur. All information set forth in this press release is current as of May 16, 2012.
The Company undertakes no duty to update any statement in light of new information or future events unless required by law.
Contact:
The Automotive Resource Network Holdings, Inc.
[email protected]
SOURCE The Automotive Resource Network Holdings, Inc.
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