H-Quotient, Inc., Reincorporating in Nevada; 'Certificate Only' Trading Authorized.Business Editors VIENNA, Va.--(BUSINESS WIRE)--March 11, 2003 The H-Quotient, Inc., (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :HQNT) Board of Directors has voted to reincorporate Re`in`cor´po`rate v. t. 1. To incorporate again. in Nevada for purposes of jurisdiction. H-Quotient, Inc., (a Nevada corporation) will only issue stock certificates to beneficial holders of stock certificates in H-Quotient, Inc., (a Virginia corporation). Shares of the Virginia corporation held in broker's names or by the Depository Trust Corporation (DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ) and related entities will not be exchanged, and will not be tradable after the reincorporation. Stockholders will be notified of the date of exchange. H-Quotient, Inc., attorney, Paul Goodman, said, "The company is joining a group of companies that have chosen to reincorporate in Nevada to enjoy Nevada's reduced corporate taxes and to take advantage of the predictability and flexibility of Nevada's laws which, among other things, helps companies attract and retain investors." Companies that have opted out of the DTC system include: GeneMax Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : GMXX - News), Ten Stix Inc. (OTCBB: TNTI - News), Midas Trade (OTCBB: MIDS MIDS Multifunctional Information Distribution System MIDS Matrix Information and Directory Services (USA) MIDS Multifunction Information Distribution System MIDS Municipal Infrastructure Data Standard - News), Hadro Resources (OTCBB: HDRS HDRS Hamilton Depression Rating Scale HDRS High Data Rate System HDRS Horn Drive Riot Squad - News), Vega Atlantic Corporation (OTCBB: VATL - News), and Intergold Corporation (OTCBB: IGCO - News). President and 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. Douglas Cohn said, "We have closely monitored the experiences of companies that have opted out of DTC, and decided that it is the most efficient way to combat the continued abuses of the system. Naked shorting Naked Shorting The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. , whereby stock is shorted but not delivered, has become rampant and threatens the integrity of the stock market, and the Certificate Only method of trading provides a sensible, workable solution to this pernicious practice. Trading will not be impeded. Rather, it will be expedited because purchasers of our stock will actually receive the stock they are buying within the required three business days. The phantom shares created through electronic trading will be eliminated. It is important that all beneficial owners of H-Quotient, Inc. (a Virginia corporation) stock instruct their brokers to obtain certificates preparatory to the exchange of stock with H-Quotient, Inc. (a Nevada corporation)." This announcement may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated. For more information visit the H-Quotient web site at www.hquotient.com. |
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