SOURCE: Triton Distribution Systems, Inc.

Triton Distribution Systems, Inc.

October 07, 2010 08:00 ET

Triton Announces CEO's Decision to Turn Back to the Company 99.70% of His Shareholdings at No Cost to the Company

TIBURON, CA--(Marketwire - October 7, 2010) - Triton (PINKSHEETS: TTDZ) announced today Gregory E. Lykiardopoulos, the Company's present CEO, decision to turn back to the Company's treasury and retire 99.70% of his shareholdings at no cost to the Company. This action reduces the total issued and outstanding Common Shares of the Company by 34,892,672,451 shares or 79.26% (percent). This decision, combined with the recent Corporate Action to buyback Common Shares, should result in the total issued and outstanding of the Company's Common Shares to be 200,000,000 shares.

"After careful consideration I decided that the Company needs to be strengthened in the neighborhood of the Company's Capital structure in addition to the Financial Investments that have been agreed upon with the new shareholders. My decision is final and I am turning over my stock certificates to the transfer agent to be retired. This action will allow the Company to reduce the total issued and outstanding Common Shares and hopefully show the market how good of a value is Triton as an investment," said Gregory Lykiardopoulos.

About Triton Distribution Systems: Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton's proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages. Triton has developed a broad-based suite of products, including ReservationExpert™, TritonTwist™ and Red Dragon Express™ -- the world's first distribution gateway to the Chinese market.

FORWARD-LOOKING STATEMENTS: This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.

Contact Information

  • Contact
    Triton Distribution Systems, Inc.
    Gregory Lykiardopoulos
    CEO
    415-381-4806