NEW YORK , April 25, 2013 /PRNewswire/ -- (OTC Pink: ARNH) The Automotive Resource Network Holdings Inc.'s CEO, Kathleen Roberton, is pleased to announce that ARNH is set to issue a specific class of Anti-Dilutive Convertible Preferred Securities to all of its common shareholders . The massive dilution, in the market, that was incurred through the removal of CONVERTIBLE DEBT on the Company's balance sheet wiped out a lot of equity that shareholders had in ARNH's security.
CEO Kathleen Roberton states, "We had to remove the compounding convertible debt off of our balance sheet because it was a derivative liability that would have destroyed ARNH's future growth prospects. We knew that signing off on these issuance resolutions might destroy shareholder value , but it was a necessary evil, if we were going to attract new equity to our balance sheet, and start meeting the objectives of our Three Step Plan. We have thus, come up with a solution to protect our stock holders from the losses they incurred in the open market.
We are going to issue our stockholders , who are on our NOBO list, Anti-Dilutive Convertible Preferred Shares that are priced at $2.50 per share, but convert at our par value, $0.00001 par. These securities will be issued to each stockholder, at no cost to the recipients. Next, we are then going to ask our stockholders to convert 1 or 2 preferred shares into 100,000 / 200,000 common shares, through our Transfer Agent, once we restructure the price and the Issued Capital of the Company. These securities will form the backbone of our registration statement with the SEC. After the SEC issues an EFFECTIVE, the converted securities will become freely traded for all our stockholders, at a quoted price of $2.50 per share. This event will likely be structured through a licensed BD firm, and will provide our stockholders with access to more shares, at a higher quoted price, and an opportunity to recoup losses from the debt issuances that the Company signed off on. There will be no costs incurred with the handling of transfer of these securities on the part of the stockholders. "
Kathleen Roberton , further states, "We are committed to buying more assets and completing forward acquisitions using our convertible preferred securities as currency. Many of the assets and businesses that we are looking to purchase, and audit, will be revenue generating. Malone Bailey will be doing a two year audit on the Company so that we can file a registration statement with the SEC. The revenue, from these acquisitions, will flow through the preferred securities thereby creating dividends for the Preferred Shareholders. To date, each company acquired has expressed a greater interest in the tax saving dividends than in the tax occurring conversion. Therefore, giving dividends is very important as we desire to repair shareholder confidence, by issuing convertible preferred securities that have the same rights and privileges that myself and the insiders own. In this way, if the company arranges a reverse split to restructure itself to be quoted at $2.50 per share, management, and its investors will not suffer any further dilution. The Company also warrants that it will no longer sanction or sign off on any further issuance resolutions, debt or otherwise, unless it is part of a Registration Statement with the SEC. We will be updating our shareholders through a general conference call, which we will publicly announce within the coming weeks. For further clarification, on the contents of this press release, please refer all inquiries to Mr. Luwayne J Santana at harvardtrust@execs.com.
About The Automotive Resource Network Holdings Inc.:
The Automotive Resource Network Holdings, Inc. is newly emerging as a holding company targeting the acquisition of undervalued, niche companies with high growth potential, income-producing commercial real estate properties and high return investments all designed to pay a dividend to our shareholders
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