DAMASCUS, Md., May 4, 2016 (GLOBE NEWSWIRE) — Syndication Inc., (SYNJ.PK), CEO requested Board approval on his move for a $2.5 Million independent accountant upgrade on its ARCHER Intellectual Property, increasing the valuation from $1 Million to $3.5 Million coupled with a right down of over $500K of convertible debt referred to in NOTE 4 of the Companies 2015 Year End Financial Statements. The Company stated that the combination of the two accounting adjustments should bring our Shareholders Equity up to $4 Million meeting the NYSE MKT, (previously known as Alternext), Tier 2 Exchange listing “Shareholders Equity” threshold qualification. The Company noted that the original $5 Million dollar valuation of its ARCHER Intellectual Property was haircut to $1 million by its outside accountants with the caveat of an increase in the valuation provided that the company began to generate sales of the software. A condition, which according to their 2015 yearend financial filing, was satisfied. The company commented further that is expects to gain an additional $500K in equity as a result of the write off of debt held on the books since initiated in 2005. The CEO noted that the Company was highly confident in gaining relief of the debt as the lending institution had been dissolved as a business and has not made cry for payment against the outstanding balance for a period greater than 7 years. Too, all stock purchase warrants associated to the note have expired and, the Company has never received a “Notification of Assignment”.
The BOD noted that the NYSE-MKT Exchange (formally referred to as the ALTERNEXT), was recently retooled to service the growth of small micro-cap companies. They established the initial standards so startup companies like Day TradeXchange and Syndication could meet the relatively achievable benchmarks. The BOD noted that with the accounting adjustments stated, the Company will have met 4 of the 6 initial listing standards required for the MKT Exchange. $4 MM in Stockholders Equity, 400 public Shareholders, 1 MM share public float, and a 2 year operating history, leaving only a $15MM float valuation and a stock price of $3/SH as the final qualifications. Which it its opinion would be satisfied as the company neared its planned hedge fund financing.
The BOD concluded that reaching the $4 Million Shareholders Equity benchmark, and the Buyback and Rescission Program combined with other recently implemented strategies are effectively altering the Company’s financial profile to meet the financial requirements outlined within Tier 2 of the qualification standards for the NYSE-MKT Exchange, (formally referred to as the ALTERNEXT). All prerequisites including a $4 Million valuation requirement, are steadily being achieved. The stock buyback and rescission strategies are designed to gain the equity leverage and stock price levels required to meet the qualification standards of the exchange. These benchmark achievements matched with the addition of a revenue dimension should effectively alter the overall financial profile of the Company, justify an increase in the market valuation of ARCHER and Syndication, and produce a subsequent positive affect on our stock price. When asked, to comment on recent achievements the CEO responded, “We’re knocking them down one at a time. I invite everyone to take 2 minutes, click the link below and watch todays “Trade of the Day” on our DTX You Tube page, and you’ll quickly understand what the buzz is all about”, said the CEO of Syndication Inc., Sorrentino.
SEE ARCHER IN ACTION; Trade of the Day; on YOU TUBE: https://www.youtube.com/channel/UCy6cbOBL89UpZEC5tKlyeBg
“FREE LIVE TRADING ROOM VISITORS PASS”
DTX invites investors and traders of all experience and those simply curious about day trading to watch and listen to our professional traders make live trade calls in the DTX trading room. To schedule a FREE LIVE TRADING ROOM VISITORS PASS simply go to www.daytradexchange.com and enter your e-mail address and a trading coordinator will contact you with arrangements, (no credit card required). Login to DTX’s live trading room from your computer and witness professional traders call trades in crude oil (CL), natural gas (NG), Russell 2000 (TF), Euro Currency (6E), S &P 500 (ES) and other futures markets. The trading room is open to members 24/7 but, only hosted by professional traders Monday — Friday 8:30 to 11:30 AM EST. Day traders hold no open positions overnight and depending on market conditions, trades can happen relatively quick. With holding times of less than 5 minutes the trading room can provide many opportunities to profit. Witness firsthand how the ARCHER trading indicator provides our members with the trading edge they need to become profitable day traders.
Contact the Company to register for your FREE LIVE TRADING ROOM VISITORS PASS. Additional information on quarterly, semi-annual and annual trading room subscription packages as well as the ARCHER Software lease program is available by calling DTX at 888-422-5515 or by going to; http://daytradexchange.com and entering your e-mail address. Active traders are welcome to call and take advantage of our FREE 3 DAY live trading room trial.
Day TradeXchange, where day traders trade…….
DTX; Trade of the Day; on You Tube: https://www.youtube.com/channel/UCy6cbOBL89UpZEC5tKlyeBg
ARCHER in the NEWS; http://www.syndicationinc.net/news.php
UPTICK NETWORK NEWS RADIO; Live Interview with Syndication CEO, Brian Sorrentino; https://upticknewswire.com/uptick-network-interview-with-ceo-brian-sorrentino-with-syndication-inc/
STOCK RADIO; LIVE Interview with Syndication CEO, Brian Sorrentino: http://thestockradio.com/otcpink-synj-syndication-inc-ceo-brian-sorrentino-2013.html
Follow Day TradeXchange at www.daytradexchange.com
Written Correspondence; PO Box 503, Damascus, MD 20872
CONTACT: John Ford
Director of Trading
1-888-422-5515 jford@daytradexchange.com
Source: Software