WDRP News
Wanderport's Shareholder Confidence Bolstered by New Agreement to a Self-Imposed Trading Restriction on Inventor's Shares
2012-10-04 07:00 ET - News Release
NEW YORK , Oct. 4, 2012 /PRNewswire/ -- Wanderport Corp. (OTC Markets-PINKSHEETS: WDRP) In a bold move to reinforce his dedication and strong belief in the direction of the company, Wanderport is pleased to announce Mr. Robert Simoneau , Wanderport's Technical Advisor and Product Licensor and majority shareholder has entered into a new agreement to restrict trading on his entire original block of shares received as compensation for the distribution rights to the "first of its kind" eco-friendly electric microwave energy tank-less water heating technology. Wanderport has remained faithful to shareholders by refusing to increase the company's total outstanding shares since 2010. To be consistent with this and to reinforce shareholder confidence, Mr. Simoneau has agreed to place the totality of his 400 million shares received in consideration for the distribution rights to the revolutionary technology (balance remaining after the return of 100 million shares to treasury from original 500 million) in escrow for the next two quarters. The new agreement is the second of a similar agreement which had expired on March 31, 2012 . Since then, Mr. Simoneau has made no attempt to remove the restrictive legend to sell the shares into the market. In fact, this agreement prevents any trading of the shares and avoids them from diluting the market in accordance to the Addendum's terms and conditions effective October 1, 2012 and set to expire on March 31, 2013 . Special reference to the new share restriction will be made in Wanderport's upcoming third quarter financial disclosure and a copy of the agreement will be filed as EXHIBIT "L" "ADDENDUM II TO LICENSING AGREEMENT" and submitted on www.otcmatkets.com - (ticker symbol WDRP , then choose the "Financial" tab. "As I always said, I am in for the long haul and I have increasing confidence in my belief in how the market will accept this technology's verifiable performance efficiency results by a reputable independent laboratory. By locking up my shares, it allows Wanderport to focus the necessary efforts and resources towards establishing and growing their market strategy and the price per share should take care of itself once implemented,'' stated Robert Simoneau . "Since Mr. Simoneau's convalescence after his operation on October 17 th , 2011, his energy, effort and performance levels were not always at their peak, although he remained a team player. Despite last year's physical toll on his health, we look forward to building great things together," said Mr. Richard Martel , Wanderport's President and CEO. "It is my belief that the price per share at hand is not a true reflection of what the technology could represent in today water heating marketplace and Robert's renewed commitment to the company and its shareholders will assist him to eventually optimize the value of his shares. Furthermore, after seeking Mr. Simoneau's confirmation, I am delighted to reiterate my intent to release the name of the third party laboratory on or before October 18 th , 2012, where I also intend to announce a firm date upon which the lab's performance efficiency results will be made public," continued Mr. Martel.
