Diversified Resources Group, Inc. Clarifies Position on Reverse Stock Split.SARASOTA, Fla.--(BUSINESS WIRE)--Aug. 6, 1999-- DRG DRG, n the abbreviation for diagnosis-related group. DRG see dorsal respiratory group. DRG Diagnosis-related group Managed care A unit of classifying Pts by diagnosis, average length of hospital stay, and , Inc., d/b/a Diversified Resources Group, Inc., (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 OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:DRGI), a Sarasota, Florida Sarasota is a city located in Sarasota County on the central west coast of Florida, USA. Its official limits include Sarasota Bay and several barrier islands between the bay and the Gulf of Mexico. based company, stated today that the Company's goal is to be qualified for a NASDAQ National Market Systems (NMS See NetWare Management System. ) listing as soon as possible. Presently, the company is in the process of filing its Form 10 to become a fully reporting registrant An individual or organization that signs up (registers) for a training class or service. See domain name registrar. . Another requirement to become a NASDAQ NMS listed stock is a minimum bid price of $5 per share. The company has already achieved several of the qualifications, and is working diligently to meet all remaining qualifications. The Company currently has no intention of reverse splitting its stock until it has achieved the balance of the qualifications for listing on NASDAQ's National Market Exchange. The Company's Board of Directors and Senior Management believe that it is in the best interest of the Company, its Stockholders and Investors to attain NASDAQ listing as soon as possible. Therefore, the Company will execute any authority granted to it by its shareholders to reverse split the shares when, and if, the situation demands such action. "We are very pleased with the Company's progress to date, and are focused on the completion of our additional goals", stated Mr. O. Howard Davidsmeyer, Chairman of the Board of DRGI. This press release shall not constitute an offer to sell securities under an exemption from registration pursuant to Regulation D, Rule 504 of the Securities and Exchange Commission. Statements regarding the company's expectations about new and exciting products, future financial performance and other forward looking statements are subject to various risks and uncertainties, including, without limitation, demand and acceptance of new and exciting products, technological advances and product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , competitive factors and the availability of capital to finance growth. Log on to www.diversified-resources.com |
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