SOURCE: Triton Distribution Systems, Inc.

Triton Distribution Systems, Inc.

October 18, 2010 08:00 ET

Triton Announces Final Retirement of 43 Billion Common Shares

TIBURON, CA--(Marketwire - October 18, 2010) -  Triton (PINKSHEETS: TTDZ) announced today that from the previously announced Corporate Action to buyback Common Shares, finally Retired 43,817,855,923 Common Shares or 99% of the issued and outstanding shares of the Company. Following this Action the Company's Proforma Market Capitalization is calculated as follows:

MARKET CAPITALIZATION
 
    MARKET CAPITALIZATION       COMMON SHARES     CALCULATED 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 OCTOBER 18, 2010   $ 4,400,786       190,010,713     $ 0.0231
TOTAL OUTSTANDING SHARES AFTER EXCHANGE   $ 4,400,786       190,010,173     $ 0.0231

"I can very confidently confirm that we have retired 43,817,855,923 common shares resulting from this Corporate Action," said Justeene Blankenship, President of Action Stock Transfer Corporation.

"We have contracted with Broadridge Financial Solutions, Inc. to advise all shareholders and their brokers every action taken regarding the Corporate Action to buyback 99% of the Common Shares. We have also advised all other shareholders via mailing and public press releases each step of the way during the implementation of this Corporate Action, and have communicated and explained to the responsible authorities the outcome of this Corporate Action. We strongly believe that the Company's Market Capitalization will now be adjusted per the above mentioned Market Capitalization Table.

"During these Economic hard times we have endured many hardships, but we are very confident that with the final steps of this Corporate Action we are now poised to finalize all the funding of our projects and offer the industry more innovative solutions needed," said Gregory Lykiardopoulos, Chairman and CEO of Triton Distribution Systems, Inc.

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.

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

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