BOULDER CITY, Nev., May 20, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – The management of Guard Dog, Inc. (GRDO), offers this update to interested parties.
A considerable amount of time and effort has been extended towards bringing the company current in its filings, investigating past share issuances, and finding an appropriate asset in which the company might invest. As has already been announced, we have repatriated 230 million shares which have been returned to the company’s treasury.
There are still outstanding share certificates which were issued to parties, even though no value was received by the company. These certificates are several years old. Guard Dog is investigating its options to have those certificates returned to the treasury, including commencing legal action. In the meantime, the company has informed its Transfer Agent and brokers that might accept such certificates for deposit, that these certificates are not to be honored by our Transfer Agent pending further notice.
There also appears to be as many as 300 million “dead” shares on the books, i.e. share certificates issued to parties which cannot be located. As these certificates are very old, it is possible that some may be lost, or that the holders may have passed away without bequeathing their holdings. The company is also considering its options with these “dead” certificates.
Several possible investments have been presented to management for consideration. Most have been disqualified from consideration, as Guard Dog is very particular about its next endeavor. In some cases, opportunities which were interesting to Guard Dog have been pulled from consideration by the asset holders because Guard Dog is unable to just write an immediate check. An investment from Guard Dog will require the raising of funds, and that will be done through equity financing rather than debt financing. In other words, Guard Dog will use its stock to raise capital to fund any investment. Fortunately, several funders are eager to help the company raise capital, once an appropriate investment has been identified and a relationship has been consummated.
The company is currently considering investing in an existing project (“the target project”) in the social media arena, which appears to have encouraging possibilities. Indeed, the target project is an improvement on an existing and very successful application. The target project is being developed by a highly qualified team, some of whom have significant backgrounds with well-known companies currently trading on the NASDAQ.
Negotiations and mutual due diligence are still in their infancy, however, Guard Dog’s Board of Directors and several advisors have been privy to an impressive presentation by the company. A similar presentation will be made to Guard Dog’s business consultants later this week and that will be followed by a meeting of the CEOs of Guard Dog and the target company in Los Angeles on May 29th. It is unknown when further announcements regarding this project will be made.
In anticipation of a possible agreement with the target company, Guard Dog management is arranging for an imminent application to the United States Securities and Exchange Commission, in order to raise funds through an equity issuance under Regulation A+. Such applications typically require 3 to 6 months for approval.
Guard Dog management feels that there is a possibility that a mutually beneficial relationship can be established between it and the target project, however management continues to warn potential investors that nothing is done until it is done. As always, Guard Dog admonishes potential investors that no investment in a high-risk company such as Guard Dog should be made with critical funds, such as those required for food and shelter. Guard Dog’s management reiterates its policy of not responding to forward-looking questions.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
Guard Dog, Inc.
1022 Nevada Highway
Boulder City, NV 89005