BUDAPEST, HUNGARY — (Marketwire) — 04/09/12 — Power of the Dream Ventures, Inc. (OTCBB: PWRV), Hungary-s premier technology acquisition and development company, today announced several steps taken to further strengthen shareholder value in anticipation of producing the company-s first revenue in 2012.
On April 5, 2012, the Company filed a Preliminary Information statement announcing several Corporate Action items, including:
the reduction of the authorized shares of common stock from 250,000,000 to 50,000,000 without affecting the issued and outstanding shares of the Company-s common stocks
an increase in the par value of the Company-s common stock and preferred stock from $.0001 per share to $.001 per share
and the creation of a class of Series B Preferred stock. Each Series B Preferred share shall have two votes and shall vote together with the common shares of the Company, each share of Series B Preferred shall not be convertible; each share of Series B Preferred shall be deemed the equivalent of two (2) shares of the Company-s common stock for the purpose of calculating the participation in all cash distributions or stock dividends
These Corporate Actions require a mandatory return of all certificates to the Company-s Transfer agent for processing and re-issuance.
“With these corporate actions, we are looking to further strengthen our share count position. I believe that the reduction of our issued and outstanding shares to 50 million shows that we are not looking to dilute our common base. The creation of the Series B Preferred is in anticipation of our near term fund raising goal, in which new, long term investors will receive these shares to further reduce our common dilution. I anticipate that 2012 will finally produce our first, significant revenue, revenue we will use to invests in / acquire additional technologies,” Mr. Rozsnyay added.
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary-s high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent “disruptive technologies.” For more information, please visit
At the Company:
Viktor Rozsnyay
President and CEO
Phone: +36-1-456-6061
Fax: +36-1-456-6062
US telephone: 1-646-499-4510 between 8AM and 1PM ET.
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