Given the Company's current cash constraints, any dividend during 2014, will be in the form of a common or preferred share of DGRI, or a spinout through an S-4.
Somit wird DIVI als Stamm Aktien ausgezahlt (during 2014)
ATLANTA, GA / ACCESSWIRE / April 17, 2014 - Dutch Gold Resources, Inc. (DGRI.OTC) (the "Company") (http://dutchgoldinc.com) today announced that its’ Board of Directors has authorized management to liquidate one of its wholly owned subsidiaries, Dutch Mining LLC. This action does not impact on the operations of the parent, DGRI.
There has been no business activity in Dutch Mining, LLC since 2008. There are no material assets in the subsidiary, as some of the assets were sold off for the benefit of taxing authorities. The prior landlord, Rendata Industrial Park, LLC, took the bulk of the assets of Dutch Mining LLC under the terms of its lease agreement.
The Company expects to place Dutch Mining LLC into a Chapter 7 bankruptcy proceeding later this month. DGRI will file an 8K with the Securities and Exchange Commission today, with the applicable resolutions of the Board of Directors. The Company believes that the bankruptcy process will take ninety to one hundred twenty days. The likely outcome will be that the Company will reduce its indebtedness by approximately $3,500,000, positively impacting both the balance sheet and profit & loss statement by Q3 2014.
Said Daniel Hollis, CEO, "While we remain disappointed by the dismal results of our acquisition of Dutch Mining, LLC, we are pleased to close this chapter of the Company’s history. This action will free us up to focus on the remaining indebtedness in DGRI, the parent company, where we will work vigorously to further purge the balance sheet. We believe that our new business model should be allowed to grow unencumbered and we will work diligently to mitigate our remaining debt through alternative debt resolution."
At the end of this process, the Company expects to have a $24,000,000 tax loss carry-forward, which will be used to shelter earnings from taxation over the next one to two years. The combination of debt elimination and the NOL improves the Company’s likelihood of becoming a successful acquirer as it seeks to grow by rolling other companies into its portfolio of offerings. This action may also positively impact the Company’s ability to finance acquisitions as well.
Von knapp 0,004 auf 0,0011 das war aber schon mehr als "gestern", alle die über 0,003 raus sind, haben, mal wieder alles komplett richtig gemacht, Glückwunsch.
Die anderen dürfen beten und hängen in einer weiteren "Gurke".