Dynasty Limousine Inc. Provides Certified Post Forward Split Share Statistics
JACKSONVILLE, Fla., June 1, 2012 /PRNewswire/ -- Dynasty Limousine Inc. (PINKSHEETS: DNYS), a full service Luxury Transportation and Limousine firm covering the southeast United States, has received certified share statistics following the recent 3:1 forward stock split. The information was received from the company's transfer agent, Broadridge Corporate Issuer Solutions, and a copy of the certification has been posted on the OTC Markets Website. A copy of the document may be accessed via the following link: http://www.otcmarkets.com/stock/DNYS/financials.
Dynasty Limousine recently executed a 3 for 1 forward stock split in order to create a more orderly trading market in its securities. Certified post-split share counts as of May 30, 2012 are as follows; Authorized shares 100,000,000, Shares issued and outstanding 14,539,275, Shares in public float 2,946,272. Pierce Fleming, Dynasty Limousine's CFO and VP, commented on the current share structure. "We are committed to non-dilution and the certified statistics from our transfer agent confirm that only 30k shares have been issued in the past 19 months. This represents an increase of .00206% in over a year and a half since the company started trading. We are proud of this and feel that we are part of only a small fraction of OTC issuers who are protecting shareholders in this manner."
Mr. Fleming also commented on the public float numbers. "DNYS has a very small float of 2.9M; however the effective float is likely much lower as many of the original investors still hold shares from when Dynasty was a private company. The float had been estimated at 2.2M post-split, however every share sold when the company was private was restricted. These investors have held since 2008 and 2009, so as they come into the market the float will change. Dynasty does not control the public float, only the amount of shares that are issued and outstanding. The company has no convertible debt and no outside financing arrangements calling for any share issuance whatsoever."
Dynasty Limousine recently posted record annual revenues, and subsequently has posted a record first quarter for this year. "Based on the current share structure and the closing price as of May 31, 2012, DNYS has a market capitalization of $741,503," stated Mr. Fleming. "With 2011 revenues of $718,494, first quarter revenues of $204,662, and a record April in which the company generated over $89,000, DNYS is trading at a P/E well below market averages. We will continue to grow the business and several additional revenue streams are being explored to add long term shareholder value."
About Dynasty Limousine Inc.
Dynasty Limousine is a full service Limousine and Transportation firm with offices in Jacksonville and Orange Park, Florida. The Company was founded in 1998 and currently operates a fleet of 17 Limousines, Luxury Sedans, and Limousine Buses with service areas primarily in the Southeast United States. The Company is a member of the National Limousine Association, and has a nationwide affiliate network to handle all domestic service requests. Dynasty currently has 18 employees, and is actively seeking acquisitions and expansion into additional markets.
Dynasty maintains an A+ accredited BBB rating, and was named a National top three finalist for "Limousine Operator of the Year" by LCT Magazine for 2009, 2010, 2011 and 2012. Additional company information may be accessed via Dun and Bradstreet, OTCmarkets.com, or by visiting the Investor Relations area located on our corporate websites. At the time of this release, the total number of shares issued and outstanding is 14,539,275 with an estimated float of 2,946,272. The company executed a 3:1 forward split in the first quarter of 2012.
About Broadridge Corporate Issuer Solutions
Broadridge is a leading provider of investor communications and technology-driven-solutions to banks, broker-dealers, mutual funds, and corporations globally. Our systems and services include investor communication solutions, securities processing and operations. In short, we provide the infrastructure that helps the financial services industry operate. With 50 years of experience, we provide financial services firms with advanced, dependable, scalable and cost-effective integrated services to help run their businesses. www.Broadridge.com
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts included in this release, are forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products and services, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party vendors, and other risks detailed in the Company's prospectus and periodic reports filed with the Securities and Exchange Commission. Dynasty Limousine Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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