Infinite Networks (CE) (USOTC:INNX)
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From Dec 2019 to Dec 2024
Infinite Networks Corporation (Pink Sheets: INNX) today issued a
clarification of its previously announced stock dividend, a pay-out
dividend related to the planned spin-off of the Company’s
media and communications division known as Eller Industries, Inc.
The March 6, 2007 press release was intended to clarify to Infinite
shareholders who owned free trading shares must retain ownership through
the close of market as of Friday, March 23, 2007 to retain dividend
rights. As stated in the previous press release, “According
to NASDAQ, all trades through the close of business (market close) on
Friday, March 23, 2007, carry the right to receive this distribution. On
Monday, March 26, 2007, the security begins to trade without the right
to receive.“
The record date that was established February 28, 2007 is only for
Infinite shareholders of record, not shares in street name. This is
different than the shares traded through the OTC–Pink
on a daily basis. If you have sold your INNX shares on the OTC–Pink
sheet prior to the close of market Friday, March 23, 2007 you will not
have dividend rights to the ELRI shares.
In an interview, John Bush, president and CEO of Infinite Networks,
stated, “The original dates have not changed.
The confusion comes from understanding an effective date that NASDAQ
establishes to handle the free trading shares is different than the
Infinite shareholders of record date.“
This release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Securities Litigation Reform Act of
1995. Some of the statements contained in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the "Securities Act"), and Section
21E of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), that involve substantial risks and uncertainties. Some of the
forward-looking statements can be identified by the use of words such as
"anticipate," "believe," "estimate," "may," "intend," "expect," "will,"
"should," "seeks" or other similar expressions. Forward-looking
statements are based largely on management's expectations and involve
inherent risks and uncertainties. These risks include, but are not
limited to, the demand for implementation of Infinite Networks
Corporation services and the ability of the company to successfully
implement its strategies, each of which may be impacted, among other
things, by economic and/or competitive conditions. You should not place
undue reliance on any forward-looking statement, which speaks only as of
the date made. Many of these factors are beyond our control. The Company
cautions that the foregoing factors are not exclusive.