LEAMINGTON SPA, UNITED KINGDOM--(Marketwired - May 5, 2014) - DNA Dynamics, Inc. (OTC Pink: DNAD) (PINKSHEETS: DNAD), a global software and application developer, today announced that it plans to retire four billion shares of common stock. Following the return of four billion common shares back to treasury, DNA Dynamics will have 5,444,095,969 common shares outstanding of which four billion is owned by insiders and subject to lockup agreements.
New CEO Glenn Alan Tellier states, "The return of over 40% of our outstanding shares, by management, to treasury shows our commitment to our shareholders as well as our dedication to creating real value in our company stock. We believe this capital restructuring will make our stock much more appealing to prospective acquisition targets. The company is currently in negotiations with an exciting business that would greatly enhance our online portfolio, and we expect to make a major announcement in the very near future." Mr. Tellier went on to say, "We are currently finalizing talks with a prospective candidate involving a unique online exchange in a newly legalized and rapidly growing industry."
About DNA Dynamics, Inc.
Headquartered in Leamington Spa in the United Kingdom, DNA Dynamics is a worldwide developer and publisher of graphically rich, interactive entertainment applications currently delivered on iOS®, Android™, Apple Mac® and PC. Through its operating subsidiaries, the Company has created, acquired or licensed a portfolio of highly recognizable or emerging brands that broadly appeal to its consumer demographics, ranging from children to adults and casual gamers to serious enthusiasts. For more information, please go to www.dnadynamics.net. You can also follow the Company on Facebook and Twitter.
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This press release may contain forward-looking statements, including information about management's view of DNA Dynamics, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of DNA Dynamics, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on DNA Dynamics' future results. The forward-looking statements included in this press release are made only as of the date hereof. DNA Dynamics cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, DNA Dynamics undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by DNA Dynamics.