Datascension Inc. Mandatory Certificate Exchange Progressing.Business Editors LAS VEGAS--(BUSINESS WIRE)--Feb. 13, 2004 The mandatory stock certificate exchange for Datascension Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DTSNV), formerly known as Nutek, Inc. is progressing as planned. Many certificates have already been received by Datascension's transfer agent, Transfer Online, Inc., to start processing the exchange for certificates bearing the new CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. , Company name and the beneficial owner's name. The first round of certificates is expected to be mailed to shareholders and brokers next week. Datascension instituted the mandatory certificate exchange as it changed its name from Nutek, Inc. to Datascension Inc., its CUSIP number to 238111108 and trading symbol Trading symbol See: Ticker symbol to DTSN DTSN Seaman, Dental Technician Striker (Naval Rating) DTSN Digital Tandem Switching Network (AT&T) on January 26, 2004. Concurrently, the Company's trading temporarily changed to a "when issued" status, symbolized by a "V" added to the end of the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors , to alert and allow sufficient time for brokerages, clearing houses and investors to exchange the Company's stock certificates for new certificates bearing the new Company name, CUSIP number and names of the beneficial owners. (Brokers: please refer to NASDAQ's January 30, 2004 UNIFORM PRACTICE ADVISORY UPC (Universal Product Code) The standard bar code printed on retail merchandise, which is administered by GS1 US, Brussels, Belgium and Lawrenceville, NJ (www.gs1.org). # 015-2004) While the stock is in a "when issued" status, the SEC T+3 requirement for settlement of trades within three business days is suspended. As soon as the "when issued" status is removed, the "V" will be removed from the ticker symbol and all unsettled trades will require immediate settlement. All trades will then be required to comply with T+3 settlement rules. NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on will lift Datascension Inc.'s "when issued" status when certificates representing a sufficient number of shares have been exchanged. The timing of this is entirely dependent upon how quickly the stock certificates are sent in for exchange. The Company has spoken with the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). ) and the situation is being monitored so as to insure compliance with these rules and the timely removal of the "V" from the ticker symbol. "The 'when issued' status is one of many positive happenings occurring in the Company," explained Murray Conradie, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Datascension Inc. "Our name change to Datascension Inc., illustrates our move to focus on a single industry that has proven to be profitable. Nutek, Inc., now Datascension, Inc., has been profitable for the past eight consecutive quarters, primarily due to the Datascension International subsidiary's data collection and market research business. Additionally, we've been meticulously executing our strategic growth plan to increase shareholder value, recently opening a new facility in the Dominican Republic Dominican Republic (dəmĭn`ĭkən), republic (2005 est. pop. 8,950,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola. The capital and largest city is Santo Domingo. and expanding our call center facility in Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. . These actions enable us to accommodate new data collection and market research business we've already contracted and to provide capacity for further growth." As part of the name change, CUSIP number change and ticker symbol change, all issued and outstanding shares of Nutek's current common stock MUST be exchanged for new certificates bearing the name Datascension Inc., and the name of the beneficial owner, or these shares will be void, shall not entitle the certificate holder to any of the rights of a shareholder of the Corporation, and shall be deemed worthless, non-transferable and non-tradable in any public or private market or exchange after April 25, 2004. "We thank our shareholders, the transfer agent, and the brokerage community for their continued patience and support during the mandatory certificate exchange procedure," noted Conradie. "We understand that this is a time-consuming task for all involved, but it is a necessary part of our effort to protect and enhance shareholder value and grow the company with a singular focus." STOCK CERTIFICATE EXCHANGE PROCEDURE FOR STOCKHOLDERS Stockholders who have in their possession paper stock certificates should read and carefully complete the Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. , which is available online at http://www.nutk.com/5/transletter.htm. This letter is also available by fax or U.S. Mail by calling 866-242-2405. The completed Letter of Transmittal must then be forwarded together with the stock certificate(s) via an insured, traceable delivery service to the Company's transfer agent, Transfer Online, Inc., 227 SW Pine Street, Suite 300, Portland, OR 97204. Tel: 503-227-2950 Fax: 503-227-6874. Note that there is no need to, and nor should, stockholders endorse the back of the stock certificate. Stockholders who hold their shares in street name with a broker are urged to immediately confirm with their broker that the broker is including their name on the list of beneficial owners being submitted to the Company's transfer agent. These stockholders will not be required to take any further action, unless their broker instructs them otherwise. The Company urges stockholders to make all requests in writing to their broker and keep a record of all communication. PROCEDURE FOR SHAREHOLDERS EXPERIENCING PROBLEMS WITH THEIR BROKERAGE RELATING TO DATASCENSION'S STOCK Shareholders are advised to have all Datascension-related communication with their brokers in writing. Written correspondence is the only proof of what is communicated between brokers and shareholders. If shareholders experience problems with their brokerage related to Datascension's stock, they should submit an explanation of the problem along with copies of their written correspondence regarding the matter directly to the company by email to share.exchange@datascension.com , by fax to 702-262-0033 or US mail to Datascension Inc, 6330 McLeod Drive, Suite 1, Las Vegas, NV 89120. Datascension can only attempt to assist those who provide copies of written correspondence. CERTIFICATE EXCHANGE PROCEDURE FOR BROKERAGES In conjunction with NASDAQ Uniform Practice Advisory UPC # 015-2004 noted above, the Company advises broker dealers with customers that hold Nutek, Inc. stock to promptly request from the Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion (DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ) stock certificates representing the number of shares, which reflect their ownership position, and to submit the certificates along with the beneficial owner information, as described in the Letter of Transmittal. Broker dealers should contact DTC directly for instructions on withdrawing their position. The number of shares represented by the certificates and delivered to the transfer agent must match exactly the number of shares held by the beneficial owners or this will delay processing. PROCEDURE FOR BROKERAGES WHO HAVE QUESTIONS OR ARE EXPERIENCING PROBLEMS RELATING TO TRADING DATASCENSION'S STOCK Brokers are advised to submit in writing a detailed explanation of the problem or questions they have related to Datascension's stock to our Investor Relations Investor relations The process by which the corporation communicates with its investors. contacts. Datascension can only attempt to assist those who provide written correspondence. 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 under 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 1995: Certain statements contained in this press release are forward-looking statements and information relating to the Company that is based on the beliefs of the management of the Company, as well as assumptions made by and information currently available to the management of the Company. Such statements reflect the current views of the Company with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. The Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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