SOURCE: Dakshidin Corporation

December 23, 2009 06:01 ET

Dakshidin Corporation Realigning for 2010

LAS VEGAS, NV--(Marketwire - December 23, 2009) - Dakshidin Corporation Update (PINKSHEETS: DKSC)

Interim CEO and President John Alexander van Arem has announced that the Dakshidin Corporation is working toward a resolution to try to cure the delinquency in the agreement between Dakshidin and RESTEC Inc. Restec has granted Dakshidin an extension till January 31, 2010 to cure the default.

"It is understandably difficult to complete anything quickly at this time of year however, in January we will have had time to review all the options and determine the new path that RESTEC and Dakshidin will take into the future."

Dakshidin Corporation has been delayed in meeting its targets including completion of the contractual obligations to RESTEC as well as the audit, as a result of problems with raising funds based on the ongoing economic conditions.

Dakshidin will issue an official press release in the latter part of January 2010 so as to inform the shareholders of progress made during the interim and advise them of how the company will be moving forward. No communications will come via IR (both email and our IR number) until the above mentioned press release is issued by the company in January.

Forward-Looking Statements: The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

Contact Information

  • Dakshidin Corporation
    John A. van Arem