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CDSS Wind Down Inc. (f/k/a Citadel Security Software) Announces Record Date for Initial Distribution.


Company has changed its name to CDSS CDSS California Department of Social Services
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CDSS Country Dance and Song Society
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 Wind Down Inc.

DALLAS -- CDSS Wind Down Inc., f/k/a/ Citadel Security Software Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: CDSS) today announced that it has set a record date of January 2, 2007 for the determination of stockholders entitled to receive the initial dividend from the proceeds of the sale of substantially all of the Company's assets to McAfee, Inc. (NYSE NYSE

See: New York Stock Exchange
: MFE MFE - maximal free expression ).

As described in the company's Definitive Proxy Statement Proxy Statement

A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting.
 filed with the U.S. Securities and Exchange Commission on November 3, 2006, shareholders will receive two or more liquidating distributions. The initial distribution is currently expected to be made January 5, 2007 following expiration of the 30 day indemnification Indemnification

Used in insurance policy agreements as to compensation for damage or loss. In the context of corporate governance, Director Indemnification uses the bylaws and/or charter to indemnify officers and directors from certain legal expenses and judgements resulting from
 period contemplated by the asset purchase agreement, and the final cash distribution would be made when all liabilities of the company have been satisfied. The amount and timing of the above-described distributions are dependent upon a variety of factors, including the timing of winding up the Company's business, the amount of any indemnification payments, and the costs, expenses and time involved in satisfying the Company's current liabilities Current Liabilities

Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year.
 and obligations, and those incurred by the Company following the closing of the asset sale. The Company will announce a record date for the remaining distributions at least 10 days prior to the distributions.

Forward-Looking Statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 

This press release contains forward-looking statements based on current management expectations. Those forward-looking statements include all statements other than those made solely with respect to historical fact. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. These factors include, but are not limited to, (1) the ability to recognize the benefits of the asset purchase transaction, including without limitation the risk that the amount of the proposed distribution to the Company's common stockholders could be reduced based on uncertainties related to the amounts of taxes, liabilities, wind down expenses, indemnification obligations or transaction expenses; (2) the amount of the costs, fees, taxes, expenses and charges related to the transactions and winding down expenses; and (3) the matters disclosed in the "Risk Factors" sections of the most recent SEC filings by the Company. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company's ability to control or predict. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 21, 2006
Words:416
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