NEW FILING TODAY! Hope this answers your question! The company is NOT diluting!
Axia Group, Inc (AGIJ) DTCC Chill Removed From Security
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OTTAWA , Canada, August 21, 2012– Axia Group (AGIJ.PK) is pleased to provide the following update regarding the “DTCC CHILL” the company has been straddled with over the last number of months. Simply put a DTCC chill can play havoc on a companys common share trading pattern.
Definition of 'Chill'
Special restrictions that can be placed on a given security by the Depository Trust Company (DTC). Chill restrictions are intended to limit the potential for problems within the financial marketplace, and can be placed on a security for various reasons.
Explanation of a 'Chill'
Owned by many financial companies including the New York Stock Exchange (NYSE), the DTC acts as a clearinghouse for stock exchange securities, settling trades in corporate and municipal securities. If the DTC has cause to be concerned about a specific security currently processed through its system, it may place a "chill" status on the security. This will restrict brokerages' ability to transfer the shares or units of the security through DTC until the security's issues are cleared up or it ceases trading on the market.
Read more: http://www.investopedia.com/terms/c/chill.asp#ixzz24C8mIGVB
Read more: http://www.investopedia.com/terms/c/chill.asp#ixzz24C8c1puc
The ‘chill order’ means that the Company’s stock cannot be transferred using DTC brokers, limiting them from freely trading the company stock without hurdles resulting in shareholders inability to buy or sell stock in the open market. No notice or explanation was received prior to the chill or after the chill was put in place a move which has clearly damaged investor confidence in AGIJ. The management is of the opinion that the Market Makers are taking advantage of the negative so called “Chill” and that perhaps in the company own estimate and projection as much as 100 Million shares may be in overhang against AGIJ.
To that end the company is pleased to announce that AGIJ management has been informed by the DTC to lift the Deposit Chill and has resumed accepting deposits of AGIJ for depository and book-entry transfer services.
Michael Arnkvarn CEO states, ‘ Our legal team has worked diligently on this file and we have been very persistent in our negotiations. The re-instatement of the DTC deposit services is huge for our company. It opens up the door for many more types of shareholders including institutional which will create a greater stability for our company.
We are of the opinion that our present share price is not reflective of the company and we are confident that this positive stride by DTC will reflect accordingly.
A copy of the DTC letter is attached to this OTC Markets filing which is self explanatory.
More updates forthcoming shortly and on a timely basis.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Axia Group Inc., that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Axia Group Inc. cautions you that any forward-looking information provided by or on behalf of Axia Group Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Axia Group Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Axia Group Inc.'s control. In addition to those discussed in Axia Group Inc.'s press releases, public filings, and statements by Axia Group Inc.'s management, including, but not limited to, Axia Group Inc.'s estimate of the sufficiency of its existing capital resources, Axia Group Inc.'s ability to raise additional capital to fund future operations, Axia Group Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Axia Group Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Axia Group Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT: Axia Group Inc.
corporate@axiacorporation.com
