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Applied Digital Solutions Reports 2003 Fourth Quarter and Year End Financial Results
While we are pleased by these accomplishments, we know there are many new challenges ahead of us," continued Mr. Silverman. "Our existence is no longer in jeopardy, and with our businesses now on much more solid-footing, we have the opportunity to create real value for our shareholders. This is why I am pleased to announce today that we will effectuate a 1 for 10 stock split with a record date of April 5, 2004. We do this not because we are required to do so today by the Nasdaq, as we have until July to meet its listing requirements, but because our businesses have matured to the extent that we can now attract quality institutional investors seeking a company that is capable of generating earnings in the future. Our improved capital structure, now that we no longer have to issue shares to satisfy preexisting obligations to previous management or creditors, will allow investors to evaluate the Company's prospects without fear that we will have to issue equity under those adverse conditions. I am excited about the prospects for 2004, as we now have all of the pieces in place, including the right management team, capital structure and technology mix to pursue sustainable, long-term value for our shareholders."
Applied Digital Solutions Reports 2003 Fourth Quarter and Year End Financial Results
While we are pleased by these accomplishments, we know there are many new challenges ahead of us," continued Mr. Silverman. "Our existence is no longer in jeopardy, and with our businesses now on much more solid-footing, we have the opportunity to create real value for our shareholders. This is why I am pleased to announce today that we will effectuate a 1 for 10 stock split with a record date of April 5, 2004. We do this not because we are required to do so today by the Nasdaq, as we have until July to meet its listing requirements, but because our businesses have matured to the extent that we can now attract quality institutional investors seeking a company that is capable of generating earnings in the future. Our improved capital structure, now that we no longer have to issue shares to satisfy preexisting obligations to previous management or creditors, will allow investors to evaluate the Company's prospects without fear that we will have to issue equity under those adverse conditions. I am excited about the prospects for 2004, as we now have all of the pieces in place, including the right management team, capital structure and technology mix to pursue sustainable, long-term value for our shareholders."
