AmeriDream Entertainment Inc. Moving to Certificate Only Trading; Company Submits Documents to Adopt `'Custody Only'' Transfers of its Stock.Business Editors PALM SPRINGS, Calif.--(BUSINESS WIRE)--Jan. 6, 2003 AmeriDream Entertainment Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMDR AMDR Association of Medical Device Reprocessors AMDR Acceptable Macronutrient Distribution Ranges (nutrition) AMDR Air and Missile Defense Radar ) today announced that it has informed Depository Trust Co. ("DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ") and its transfer agent, Atlas Stock Transfer, Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , that AmeriDream is voluntarily withdrawing from DTC. As of Monday, Jan. 6, 2003, ownership of the company's shares of common stock must now be evidenced only in certificate form under seal of the company and signed by the president and secretary. Lang Elliott, president and chief executive officer, stated that shares of the company will be transferred only within the provisions of "Certificate Only" or "Custody Only" status. This share transfer system requires that any transfers of the company's stock be made only by delivery of physical stock certificates. No certificate shall be printed or entered into the company's books via its transfer agent in the names of either Cede & Co., Depository Trust Co., CDS & Co. or any other such depository for certificates. All certificates surrendered to the company's transfer agent shall be cancelled and reissued only in the direct name of the true beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of the shares. As a result of the company's Custody Only common share transfer system, current company shareholders holding their shares in "street name" (shares owned by a client held by a brokerage in the name of Cede & Co., which is the nominee for the Depository Trust Co.) in their brokerage accounts should immediately become registered shareholders by contacting their broker and requesting that their shares of AmeriDream be physically delivered to their address of record. This change will not restrict or limit current or future shareholders from purchasing or selling shares in the normal method through the existing and established broker-dealer network. The reason for this change is to protect the integrity of the market for shares of AmeriDream's share trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. , protect shareholder value and reduce the potential for unfair and improper trading practices known as naked short selling Naked short selling, or naked shorting refers to the practice of selling a stock short without first borrowing the shares or making an "affirmative determination" that the shares can be borrowed. . A naked short naked short The investment position of the underwriting firm for a new issue when the underwriting firm has sold more shares short than will be issued. sale of stock occurs when short positions are not declared, shares are not borrowed to cover the short sale, and shares are sold without delivering the stock to the purchaser. The company believes that naked short selling has occurred in the company's common stock. About AmeriDream Entertainment AmeriDream Entertainment, a Coachella Valley Coachella Valley (kō'əchĕl`ə), arid region, SE Calif., N of the Salton Sea. Water is brought into the region by artesian wells and by the Coachella Canal (123 mi/198 km long), a branch of the All-American Canal built between 1938 and , Calif.-based major motion picture and television production and distribution company, was founded and incorporated in California. AmeriDream Entertainment bases its future on public and industry financing. The AmeriDream companies will utilize its officers, directors and consultants to establish new production, co-production and distribution relationships throughout the world. AmeriDream Entertainment can be contacted at 760/408-1631. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This news release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of l933 and the Securities Exchange Act of l934, as amended by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of l995. Those statements include statements regarding the intent, belief or current expectations of AmeriDreamEntertainment Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are based upon current expectations of management and actual results and outcomes may differ materially from those contained in such forward-looking statements in this news release. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include the ability of management to gain approvals from the board of directors of both companies as well as regulatory approvals, unforeseen claims in connection with the intellectual property rights assets, fluctuation of operating results, the ability to compete successfully, the ability to revise forward-looking statements to reflect changed assumptions, and the occurrence of unanticipated events or changes to future operating results. |
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