New York, July 24, 2019 (GLOBE NEWSWIRE) -- Daniels Corporate Advisory Co. Inc. ("OTC:DCAC") is pursuing its 1/200 (1 new share for each 200 current shares) reverse split in order to interest institutional and retail investors in participating in its future growth potential. Company senior management has been tied up with the Audits for some time; now it can dedicate the time required to effectively respond to FINRA.
When we reduced the reverse split to 1/200 from the original 1/1000, we had to withdraw the original Action Request and re-submit a new one. That started the clock all over again from the beginning of the process.
Based on our current outstanding of 4,647,502,000 shares, the processing of the reverse split by FINRA will reflect 23,207,510 new shares outstanding.
Management believes that the reverse will be approved in approximately one month. Daniels/Payless Truckers, Inc. is an operating company with positive cash flow. It has 212 registered stockholders. If the shareholders in DTC/CEDE are included, the number of shareholders rises to 845. We have better credentials than most companies that enter and clear the FINRA Process.
Arthur D. Viola
Chairman & President
(917) 617 - 5445