|Page (1) of 1 - 08/25/11||email article||print page|
DNA Dynamics to Issue 30 Million Shares for Pending Acquisition(August 25, 2011)
LEAMINGTON SPA, United Kingdom, Aug. 25, 2011 (GLOBE NEWSWIRE) -- DNA Dynamics (Pink Sheets:DNAD) announces today that it has agreed the outline terms for another key acquisition. Working with its attorney, DNA Dynamics will issue 30m shares of restricted common stock to be released at key milestones over the next 90 days. The stock will remain restricted for at least 12 months from the date they are transferred from Escrow and will continue as restricted stock for as long as the holders remain in the business.
As the full deals terms are still being negotiated, DNAD is unable to release full details of the parties involved but, in the interest of shareholder transparency, the Board felt compelled to give the investment community as much notice as possible of the addition to the issued share capital.
The acquisition gives DNAD access to the very lucrative Social Gaming / MMO market and the many millions of online players via platforms such as Facebook™ that brings.
Ed Blincoe, CEO of DNA Dynamics, in discussing DNAD's general acquisition strategy, said, "We believe that a healthy amount of strategic acquisitions can sit alongside our very ambitious natural growth plans. There are areas of the business we are looking at making stronger such as Social Online, Licensing and Browser Development. Our strategic acquisitions will fall into those categories and our intention is to continue to grow a fully rounded business, able to deliver profitable results and, thus, shareholder value."
DNA Dynamics, Inc. recently announced that it was able to continue its rebranding exercise with the launch of its new corporate website, which can be found at www.dnadpk.com The exercise started in May with a new logo, brochureware and marketing collateral and should continue into September with the launch of the two subsidiaries' websites www.dna-interactive.com and www.dnadevstudios.com
About DNA Interactive
DNA Interactive, is a publisher of games and apps for mobile and tablet devices including iPhone apps, apps for the iPad along with apps for Android phones and tablets. Established in 2010 DNA Interactive develops, acquires and publishes games for Android and iOS devices.
About DNA Studios
DNA Studios, formerly Slam Productions Ltd, is a videogames developer based in Leamington Spa, Warwickshire. DNA Studios create Games and Apps for Mobile Devices and handheld consoles using their proprietary Rapid Application Development tool, The "Slam Engine." In 2010, the company was named by Develop Magazine as one of the top 100 most successful game studios in the world.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
CONTACT: Rishika Sharma
(1) 347 352 0078
Related Keywords: ENTERTAINMENT, ACQUISITIONSManufacturing, Manufacturing/Production, Manufacturing, Sales & Marketing, Productivity Applications, Inc., Apple Computer, Biology, Genetics, Business, Entertainment, england, Other,