SOURCE: Triton Distribution Systems, Inc.

Triton Distribution Systems, Inc.

November 18, 2010 08:00 ET

Triton Announces Change of Buyback Corporate Action to Reverse Split

NEW YORK, NY--(Marketwire - November 18, 2010) - Triton (PINKSHEETS: TTDZ) (PINKSHEETS: TTDZD) announced today following FINRA OTC approval, the change of the buyback Corporate Action to a Reverse Split, due to the following obstacles while still retaining the original promises made to the shareholders, stock brokers and the market overall:

A. Due to technical difficulties with the Depository Trust Company (DTCC) to exchange shares on the buyback Corporate Action, the Corporation's Board of Directors and Controlling Shareholders have agreed to change the buyback corporate action to a reverse split action. The reverse split action ratio will be 100 shares to 1 share. All shareholders will receive a minimum of 1 (one) share.

B. All shareholders that have been previously promised to be paid a convertible note for the reduced shares equal to the buyback shares will still receive from the Company the promised note at the value previously indicated of $ 0.0001 per share. All previously promised terms of the note will remain the same and will be mailed directly to all shareholders by the Transfer Agent. This act will not require DTCC involvement.

C. Additionally the CEO of the Company has retired 99% of his shares and returned them back to the Company at no cost to the Company. These shares have been permanently cancelled and the Company will not owe the CEO anything in return.

Following the FINRA OTC approval the Company's Market Capitalization is as follows:

    MARKET CAPITALIZATION   CALCULATED
COMMON SHARES
  MARKET PRICE
   
                 
AS OF SEPTEMBER 30 2010   $ 4,400,786   44,007,866,636   $ 0.0001
LESS COMMON SHARES RETIRED         43,817,855,923      
                 
AS OF November 18, 2010   $ 4,400,786   190,010,713   $ 0.0231
                 
TOTAL OUTSTANDING SHARES AFTER REVERSE SPLIT   $ 4,400,786   190,010,173   $ 0.0231

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.

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.

Contact Information

  • Contact:
    Triton Distribution Systems, Inc.
    Gregory E. Lykiardopoulos
    (415) 381-4806