Take another look at this awesome PR from yesterda
Post# of 487
Take another look at this awesome PR from yesterday!
Blue Water Announces Stock Dividend
Board Authorizes One-Time Dividend of 25% of Stream Flow Equity Holdings
Jan. 27, 2014
BLUU announces that its Board of Directors has authorized a one-time stock dividend of a portion of Blue Water's equity holdings in Stream Flow Media, Inc. ("Stream Flow"). This dividend will be issued to Blue Water's shareholders after Stream Flow's shares begin trading on the OTCBB. Blue Water intends to use this Stream Flow dividend as a model for future equity investments.
Dividend Highlights:
- Blue Water will dividend 25% of its Stream Flow equity holdings (5M shares) via a one-time stock dividend
- No fractional shares will be issued. Fractional share amounts will be rounded to the nearest whole amount.
- As an example, if the dividend were to be processed today, and based on Blue Water's current capital structure, shareholders would receive approximately one share of Stream Flow for every 46 shares of Blue Water owned.
- The remaining Stream Flow shares will be sold over an 18-24 month period with the net proceeds going towards financing additional units of the Blue Water Bar & Grill(TM) restaurant concept.
Blue Water's President and CEO, J. Scott Sitra, stated, "Stream Flow has already initiated the process of becoming a public company. Last week they submitted their financial statements for audit and should be able to make their initial SEC filing sometime in the next few weeks. While it is our policy not to comment on specific price targets or valuations, we continue to believe our holdings in Stream Flow will experience significant upside growth after it begins trading on the OTCBB which will sharply enhance Blue Water's overall balance sheet. We intend to use this Stream Flow dividend as a model for future similar equity investment transactions brought to us through our Strategic Alliance with Taurus Financial Partners." Mr. Sitra continued, "So that our shareholders can better understand this entire process, we've prepared a simple-to-follow milestone schedule for Stream Flow receiving its listing on the OTCBB and, ultimately, our shareholders receiving this stock dividend."
Milestones for Stream Flow OTCBB Listing and Stock Dividend:
- Complete Audit of Financial Statements (underway)
- File Initial Form S-1 Registration Statement with the SEC (drafted)
- File Form 15c2-11 Disclosure Statement with FINRA
- Receive FINRA Approval and Trading Symbol on OTCBB
- Apply for DTC Eligibility (allows for electronic trading)
- Register Blue Water's Stream Flow Shares with the SEC on Second Form S-1 Registration Statement (filed simultaneously with DTC Eligibility application)
- Obtain Final FINRA Approval and Specific Record Dates for Stream Flow Stock Dividend
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