BLAINE, Wash. , Nov. 13, 2012 /PRNewswire/ -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced today that the Company will make its final share reductions; seeking to secure a relationship which could possibly reposition the company quite well; increasing assets, securing immediate revenue streams and solidifying investment feasibility.
"Of the many things we have accomplished in the past year, some investors do not understand the magnitude of this particular endeavor," stated Peter Meier , President of Hollund. "But it's simple, when a very attractive, profitable company requests you to make changes to enhance the probability of a future business arrangement, you progress accordingly. Remember, we were approaching 9 Billion shares just 8 months ago. Today, we are sitting at around 4.7 Billion shares; and in the immediate future, with this next round of share reductions focused on the float as well as the issued and outstanding, we could possibly be as low as roughly 2.8 Billion shares within 45 days. That is a major adjustment; all for the possibility of an incredible transformative opportunity we expect to come to fruition should we stay on course."
The company is confident it will achieve a total reduction amount close to 70%, employing a share retirement plan which virtually extinguishes the possibility of the shares returning to market; "moving the valued interest to the future earnings," stated Meier. Management hopes to restore good health to the 'cap table' and gain the confidence of those shareholders who may consider the ambitious endeavor very bullish.
Mr. Meier continued, "Our primary interest is, and will always continue to be, an execution of the business plan. We strongly believe by dedicating ourselves to efficacious action, Hollund shareholders will benefit tremendously."
The company continues to seek capital which minimizes the sale of stock for cash; striving to raise funds through financings with longer-term equity positions.
By the close of business Friday, management will retire at least 500 million shares from the issued and outstanding, and 200 million shares from the float in this initial round of final reductions.
Then, on 2/25/2013
"Pink Sheet Filings - As this is our annual reporting, we have 120 days to file. Shareholders will note that we are still listed as a 'Current Filer' with OTC Markets (http://www.otcmarkets.com/ stock /HIMR/quote) for this reason. We've not filed as promptly as usual, because it is this year that we hope will mark a special time for us, to which, we must properly prepare. We do anticipate making our voluntary filing shortly.
"Relocating - North Cal was gracious enough to offer us separate space on their property. However, due to the closeness of the project , the logistics of such a move were quite in-depth, including insurance matters and other items to where the i's and t's must be dotted and crossed. We anticipate this entire process will also be concluded shortly.
"Share Reduction - During our last discussions of share reduction, we noted that we completed our original quest far ahead of schedule and would seek to continue the efforts with a new reduction effort. The company did in fact retire an additional 500 million shares from the Issued and Outstanding (I/O) share count during the last quarter of 2012. This reduced the I/O from what's currently reflected on the PinkSheets (http://www.otcmarkets.com/stock/HIMR/company-info) as 4,689,341,272 shares down to 4,189,341,272 shares. There was an oversight and the data on PinkSheets was not updated. We will continue to actively pursue a reduction effort even amidst debt repayment and future financings. Having a suitably restructured company without the use of an 'unwarranted' reverse will continue to be one of our corporate ambitions."
People close to the company continue to be supportive of Hollund's efforts. There has been much indication that their joint efforts with associates, consultants and strategic alliances, in pursuit of Brazil concessions, have lead to some unanticipated opportunities in other parts of Latin America and now quite possibly the Caribbean.
Mr. Meier concludes, "There are indeed some incredible opportunities that have presented themselves to Hollund over the past 3 months. Our collective team has worked and traveled tirelessly to eliminate what appears unproductive and bring online those items that make sense. We strongly believe that securing a concession within the next 12 months is more apparent and within reach."
