DND Technologies President’s Letter of April, 30 2013 Updating Shareholder on the Current Status of the Company and its Projects.
Dear Shareholders:
Several of you have communicated your concerns to the company asking for an update on where the company is, and where management hopes to take it. In this regard, the company has been, at best, dilatory, in keeping you informed. As the new president, I hope to correct that.
To begin, because the company was tardy in completing several projects, and pursued other projects whose financial projections were, at best, not sufficiently impressive, last December the Board asked me, Jonathan Peters, to step into the day-to-day management of the company as its president. I agreed only if I could undertake a major review and, if necessary, restructuring of the company. The Board agreed and pledged their support. Upon my recommendation, a new company secretary was also appointed by the Board.
Upon appointment, I immediately began a complete review of where the company is, where it hopes to go and, most importantly, the planned project investment portfolio, and made recommendations to the Board as I completed each review. I also carefully examined proposed projects that you have not yet heard of, and made recommendations there also. Below are a few very short briefs on some of my recommendations.
- Cinutri: Good project. Early work is ongoing on the pilot project. I made the recommendation that DNDT continue this project. Please see www.cinutri.us for current updates.. We have received complaints that the www.cinutri.com site is down. It is, and will be for a few more days as it is being redeveloped and tied into the mobile payments software. Shareholders were alerted earlier that it was only a temporary site.
- Corrib Tower-Poprad. Good project. This project is doing extremely well as the first phase is nearing completion. I myself have spoken with the current owner several times a week this year much to his surprise. We are proceeding in line with our earlier announcement, and will take an active role in the next two phases.
- Telecom Project. Under review. The company did sign a tentative agreement with the Quintana Group to participate with them in launching two MVNOs (mobile phone licenses using a major carrier’s network). They already have a contractual offer of one license with the Telecom Service Bureau, a mobile virtual network aggregator “MVNA”), and have another license application with AT&T. MVNOs can be lucrative, but they are also costly to launch. I will be completing my review of this project in the coming weeks.
This project may fit in with what the telecom and mobile network projects that the company is already involved in Latin America and the Caribbean for several years now, but which, seemingly for no particular reason, were never fully explained to shareholders. I plan to redress this in the coming weeks.
- Best Balms. Not a good project. The company had reached agreement to acquire this company in the winter of 2009. However, the Matching Ads takeover happened before the paperwork was completed and Matching Ads did not follow through. An attempt was made to complete the acquisition in September of last year after the matching Ads project was rescinded. At that time, however, the owners reneged on their earlier agreement, asking for two-and-a-half times the price earlier agreed to. I was at that time not president of the company, but I blocked the project at the Board level, mandating that the company drop the project because it would not be sufficiently lucrative in the long run to justify the new asking price. That recommendation was adopted.
I am in the process of enhancing the company’s balance sheet several fold to facilitate its acquisition process as there are several additional projects that have not been publicly announced that the company is engaged in discussions to invest in or acquire. I have informed the Board that I will put each through a rigorous due diligence process before agreeing to them and informing shareholders.
Share Status Since the Rollback.
I will undertake to have the OTC DNDT page updated in the next week or two. But the foremost question on shareholders minds has been the share situation after the rollback. As of April 20, 2013 it was as follows:
Shares Outstanding: 3,702,259.
Float: 948,116
Shareholders of Record: 68.
Of the Shares Outstanding, just below half are still in certificate form, though all those certificates have reached their 144 restriction maturity dates and could conceivable be registered with DTC or placed with brokers at any time. A perusal of the company’s annual report posted on the OTC will tell you who holds those certificates. Without being solicited, several of those certificate holders have informed the company that they are holding them for the long run.
Every new president or Board chairman, myself included, promises to keep shareholders fully updated on their company’s activities. I again promise to do so in all sincerity.
Finally, I personally dismissed an employee who, in my opinion, sent an impropriate email to an important shareholder. I will not tolerate any such behavior on my watch. I have always taken the position that being a public company manager is like being a politician—you will be called exotic names on the public blogs. That is how it is. So though I wish that you would all give me time to complete the restructuring of the company before wishing that I would move to a dangerous neighborhood, I know it will not happen.
Very best regards to all of you from the new secretary and myself..
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe,""estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
Jonathan Peters: President
DND Technologies Chairman’s Letter of March 13, 2013 in Response to Shareholder Inquiries.
Dear Shareholders:
We have been urged by a shareholder to “say something” about the concerns that some shareholders have been expressing online about trading in the company’s shares. We therefore have the honor of responding to some of the main concerns expressed.
1. No! The company is not selling stock into the open market. To do so, the company would have to file a Registration Statement ("S-1") with the SEC. We have not done so. To do so would require a public disclosure, take several months, and would be costly, requiring the company to use funds earmarked for ongoing investments.
2. We, too, have noticed what seems to be "after-hours" trading in the company's stock. The company is not involved in that trading, and has absolutely no knowledge of the source of that trading. The company does not have a brokerage account. We were in fact pleasantly surprised that the company’s stock was receiving enough attention to effect after hours trading—though we were not pleased by the depressed prices of the after hours trades.
3. Outstanding shares: This information is subject to change as we have not yet had the time to look at all the complete data. In our September 30, 2012 filing on the OTC we listed 322,724,653 shares outstanding. With 40,672,384 in the float. Based on that data, after the reverse split, there were 3,227,246 shares outstanding and 467,273 shares in the float. However, as one might expect, those numbers are a bit dated—but we believe not by very much. More accurate numbers will be in our annual report which is being prepared and will be filed shortly. But, so as not to grossly underestimate here, let us round the numbers upward and surmise that there are approximately 4 million shares outstanding and 550,000 in the float (we have mentioned before that some brokers can hold certificates, clear them, notify DTC without actually depositing the shares, and trade against the certificates. Such shares may not show up in the float until a full DTC filing is done. So the float number may differ from the information provided. Of the post reverse split outstanding shares, management is aware of approximately 1.2 million shares that are still in certificate form and not on deposit with brokers.
4. Share Price. The company is being restructured in the expectation of long term profitability and share price stability. Projects that seem unlikely to contribute to growth in shareholder value are currently being jettisoned as new projects and acquisitions are brought online. While any drop in share price is always distressing to shareholders and management alike, we expect that there will likely be continued share price volatility during the restructuring process.
It should be kept in mind that we are less than 60 days away from the completion of a reverse split. Reverse splits, by their very nature, tend to promote share price volatility as they leave a level of shareholder uncertainty in their aftermath, and tend always to attract short-term profiteers. This is the nature of the market as everyone seeks to buy low and sell high, not to mention the possibility of a bit of shorting (sometimes more than a bit). An investor relations firm may, or may not, help. But that would require issuing shares to them and, of course, giving them cash. We do not believe that it would necessarily benefit shareholders at this time. We have decided that it should be considered only after the company’s restructuring process is further along.
5. All projects announced, including Corrib Tower, and several yet unannounced, are on track to come online in the coming weeks. Working on cross-border agreements in different languages often takes a lot more time than we would like.
Finally, we do not, under any circumstances, believe that this letter will answer all the questions that shareholders have. Some people will still be unhappy while others may express unhappiness merely to influence the share price to create an opportunity for themselves. But that is all part of the free market.
The staff of the company wish to avail themselves of this opportunity to express to all shareholders the renewed assurances of their highest consideration.
Safe Harbor Statement
Matters discussed in this letter/press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
Jonathan Peters, Chairman
DND Technologies, 800-341-8940
info@dndtechnologies.com
DND Technologies Wholly-Owned, Independent Subsidiary, Cinutri, has launched an Informational Website in English About the launching of its Mobile Supermarket Shopping Platform in Brazil.
NEW YORK, March 3, 2013 – PRWEB. DND Technologies, a diversified holding company that acquires, invests in, and partners with next generation start-ups and established businesses to bring new or improved products to market today announced that its independent, wholly-owned subsidiary, Cinutri, has launch an informational website in English about its mobile supermarket shopping platform in Brazil. The website, www.cinutri.us, has a generous amount of information about the project, including the pro forma financials.
Cinutri is a mobile supermarket shopping and payments business solution platform that allows users to use their mobile phones to remotely purchase goods from supermarkets, and have those goods delivered to their homes immediately or at some other requested time period. After registering for the service, users will be able to buy their required products with a few strokes on their mobile phones without the need to go to the supermarket. Using the Cinutri App, they will also be able to shop at remote franchisee locations, and posted product posters set up by Cenutri, and enjoy home delivery service at a convenient time. After registration, the consumer will receive a link via SMS to download the application on their phone, or they will be able to download it from the Apple Store or the Android Play Store. Payments for purchased items will automatically be deducted from the debit/credit cards and bank accounts programmed in during registration by the user. Cinutri’s profit will come from a revenue sharing agreement with supermarkets in its network.
The official website and web portal for Cinutri will be in Portuguese at www.cinutri.com which now hosts a temporary site until the pilot project is completed. The English site at, www.cinutri.us, was designed so that English speaking shareholders of DND Technologies, the parent company, may be informed about the project, and kept abreast of developments as the pilot and anticipated full deployment are initiated. Discussions are underway with Asian investors/users, pending the completion of the pilot.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
Media Contact: DND Technologies, 800-341-8940
info@dndtechnologies.com
DND Technologies has Announced that its Wholly-Owned Subsidiary, Cinturi, has Reached Agreement to Launch a Mobile Supermarket Shopping Platform in Brazil.
NEW YORK, February 25, 2013. DND Technologies, a diversified holding company that acquires, invests in, and partners with next generation start-ups and established businesses to bring new or improved products to market today announced that Cinturi, one of its wholly-owned subsidiaries, has reached agreement to launch a mobile supermarket shopping platform in Curitiba, Brazil.
Using a proprietary mobile payments technology, and working with the agreement of a network of supermarkets, Cinturi is preparing to launch a mobile supermarket shopping platform in Brazil. A Chief Technology Officer, Ivan Silva, the developer of the M-Code One mobile payments solution was engaged several weeks ago to oversee the pilot project in Curitiba, Brazil. The pilot project will be designed to identify and correct any technology issues before the full launching. Management believes that this project will deliver exceptionally good value to shareholders. Cinutri is a mobile supermarket shopping and payments platform that allows users to order items from participating supermarkets using the Centuri application (“App”) on their mobile phones, and have those goods delivered to their homes or another location immediately or at a requested time by supermarkets in their delivery area. After registering for the service, users will be able to buy their required products with a few strokes on their cellular phones without the need to go to the supermarket. Using their Cinturi App, they will also be able to be able to shop in a supermarket without using a physical shopping cart or stopping at the cashier, in confidence that the purchased goods will be delivered to their desired address. They will also will be able to have “cash back” delivered. User/investor discussions are currently underway in Asia pending completion of the pilot project.
Additional information on the project will be the subject of another press release very shortly, and a website being developed presently at www.cinutri.us will have detailed information on the project, including financial projections, and will be updated regularly so that shareholders in English Speaking countries may follow the developments. After the pilot, the website www.cinutri.com will be developed into the Portuguese operational web portal for local use by businesses and consumers in Brazil.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
Media Contact: DND Technologies, 800-341-8940
info@dndtechnologies.com
DND Technologies Board Chairman Updates Shareholders on the Company's Reverse Stock Split.
New York, January 18, 2013. DND Technologies a diversified holding company that acquires, invests in, and partners with next generation start-ups and established businesses to bring new or improved products to market, has undergone a reverse stock split as approved by a shareholder majority and the Board of Directors.
Dear Shareholders: Those of you who made frequent inquiries of the company will recall that management, like many of you, was disinclined to recommend a reverse split of the company’s stock for fear of an even temporary loss of shareholder value. However, the stagnation of the share price at sub-penny levels for a prolonged period has not only caused a serious loss in shareholder value, but has negatively affected management’s ability to finalize several important projects that, we believe, will bring good, long term value to all shareholders. Without the completion of on-the-table and new investments/acquisitions, we believe that shareholder value would continue to be eroded, leaving the majority of early shareholders at a current value disadvantage, and, in the long run, eroding value for all shareholders.
To be sure, management’s recommendation for the reverse split came only after wide consultation, and with the anticipation that the company would be able to complete several ongoing and new transactions, only a few of which include: (1) Cinturi: http://cinutri.com. A mobile shopping start-up (with very good financial projections) in Brazil whose pilot project will be done in partnership with a very well known international online and mobile payments company. (2) Poprad: http://www.corrib.sk. Already announced condominium project in Slovakia that has almost completed phase one of three phases; (3) Intex: http://intexfm.com. A start-up stock crossing network that will be based in Nassau, The Bahamas. As noted in previous press releases, there are several other very exciting and potentially lucrative projects in train.
Having witnessed reverse splits before, management expects to be the target of some interesting, if unflattering expressions by unhappy shareholders. Rather than be upset, we encourage this as a good thing because, when all is said and done, the company rightfully belongs to the shareholders and they should feel free to express themselves in new and exciting ways, and always to hold management’s feet to the fire. However, management believes that this reverse split will, very shortly, start returning well deserved value to those shareholders who, like management, are in it for the long run and hope to build a good, strong, diversified DND Technologies.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe,""estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
Jonathan Peters: Board Chairman
DND Technologies has served notice that it intends to exercise its option to acquire an interest in Corrib Poprad, the first phase of a three phase condominium development project in Poprad, Slovakia. October 23, 2012
DND Technologies, a diversified holding company that acquires, invests in, and partners with next generation start-ups and established businesses to bring new or improved products to market today announced that it has served notice that it intends to exercise its option to acquire an interest in Corrib Poprad, a three phase condominium development project in Poprad, Slovakia.
Before construction began, DND Technologies ("DNDT") reached an agreement with the owner of Corrib Tower, (http://corrib.sk/eng/index.php), that gave DNDT the option to acquire an interest in the project anytime before the before the first phase of the project reached 50% sales. Sales are currently approaching 40% as the first phase is nearing completion. The project is being financed by VUB Bank, a.s., which has also created a facility for financing apartment purchasers with up to 95% of the apartment value.
Poprad, the most populous city of "Spiš" region, the third largest town in eastern Slovakia, has been rated by Aa1.sk of Moody's as the most promising city in Slovakia. Poprad is Located at the foot of the High Tatras Mountains, the Alpine mountain range straddling Slovakia and Poland, and offers a wide range of year-round recreation activities, including ski resorts, the Aquacity waterpark, an ice stadium among other amenities. The Tatra National Park gets more than 4 million visitors a year from Slovakia, the Czech Republic, Poland and Germany, and is very popular with Russians.
DNDT's notice to exercise the option has been acknowledged and accepted by Corrib Poprad. Details of the final agreement are being worked out and will be announced shortly. Further information about DNDT's updated operational structure, investment strategy, and a brief mention of some of its planned investments may be found in the "About Us" section of DNDT's website at www.dndtechnologies.com
DND Technologies' wholly-owned subsidiary, Best Balms, Appoints Director of Latin American and caribbean Hispanic Markets. September 28, 2012
DND Technologies, a diversified holding company that acquires, invests in, and partners with
next generation start-ups and established businesses to bring new or improved products to
market today announced that its wholly-owned subsidiary, Best Balms, has appointed Elliott
Rivera as its Director of Latin American and Caribbean Hispanic Markets.
New York, NY (PRWEB) September 28, 2012 -- Mr. Rivera, will also serve as the company's manufacturer's
representative in Puerto Rico.
He has very extensive experience in both government and private sector service. Until August 2008, he was
president and CEO of the United Retailers Association of Puerto Rico, and is currently a Member Emeritus of
the Board. He is the President of ATM - Puerto Rico and the Caribbean, the Inter-American Business Alliance,
and Chairman Emeritus of United States Hispanic Chamber of Commerce. From 2007 to 2009 he was
Chairman of the International Committee of the United States Hispanic Chamber of Commerce (USHCC). In
1993, in collaboration with USHCC, he assisted in the establishment of an Office in Mexico City to offer
services to the members of Mexico's many Chambers of Commerce. "I look forward to working with Best
Balms", said he. "It will be a pleasure to introduce its excellent product line to my many friends and colleagues
in the retail and wholesale industry at home in Puerto Rico and in the other countries of Latin America and the
Caribbean".
Best Balms is the third largest all natural specialty balm company in the United States and has the most
comprehensive product line of specialty balms found in the world today. Best Balms products are 100% all
natural. With the appointment of Mr. Rivera, Best Balms expects to ramp up the sale of its products to the 589
million people of the Latin American region.
On other matters, the Nevada Secretary of State's Office has officially updated its information on DNDT to
reflect the lowering of the authorized common shares from 2 billion down to 800 million, the authorization of
30 million preferred shares, and the amending and restating of the Articles of Incorporation. This was done with
a view to building long-term shareholder value as the company moves to effect some of the acquisitions that are
under consideration. "This was a promise made to shareholders some time ago", said Jonathan Peters the Board
Chairman, so I am pleased that Board was able to approve it and management moved efficiently to update the
Nevada filings." Concerning the authorization of the preferred shares, he said, "Given the current negotiations
with a view to expanding the acquisition/investment holdings of the company, management felt it sensible to
have a 30 million preferred share authorization on hand should it be necessary to facilitate exceptional
acquisitions, and the Board agreed", he said.
|