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DAC Technologies Announces Stock Buy-Back Plan
LITTLE ROCK, AR -- (MARKET WIRE) -- April 24, 2007 -- DAC Technologies (OTCBB : DAAT ) today
announced plans to buy back up to 200,000 shares of its common stock. At
its current price, the Company believes its shares are undervalued, and
reducing the number of shares outstanding would be a prudent use of
corporate funds.
In addition, David A. Collins, Chairman and CEO, recently purchased 10,000
shares of the Company's common stock as evidenced by his Form 4 filing on
April 9, 2007.
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of
high quality, reasonably priced security safes, gunlocks, gun cleaning kits
and security products, as well as accessory items for the sporting goods
market. DAC distributes its products through mass merchandisers such as
Wal-Mart and Kmart, and sporting goods retailers and distributors such as
Dick's, Big Five, Cabela's, Acusport, Jerry's, RSR and others. DAC also
provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage,
Marlin and Taurus, as well as others. Also, DAC's products are distributed
through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for
forward-looking statements. Certain information included in this press
release (as well as information included in written statements to be made)
contain statements that are forward looking, such as those relating to
consummation of the transaction, anticipated future revenue of the
Company's and success of current public offerings. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and,
accordingly, such results may differ materially from those expressed in any
forward-looking statements.