NEW YORK, March 26, 2001 (PRIMEZONE) -- MonsterDaata, Inc. (OTCBB:MDDC), an information infrastructure utility company, announced today a 1 for 5 reverse stock split effective at the close of business today. MonsterDaata shareholders will receive one new share of common stock for every five shares of old common stock held as of the close of business today. The new trading symbol for MonsterDaata, Inc. will be (OTCBB:MSRD) simultaneously effective.
"This move is designed to increase MonsterDaata's liquidity and to expedite our push for future listing on a major exchange," says Samuel B. Petteway, CEO of MonsterDaata, Inc. "We intend to increase MonsterDaata's appeal to a much wider group of investors and institutions."
No fractional shares of new common stock will be issued in connection to the stock split. Rather, holders entitled to receive fractional shares of new common stock will receive one whole share of new common stock in lieu of each such fractional share. Except for the number of shares to be outstanding after the reverse stock split, the old common stock and new common stock are identical.
About MonsterDaata
MonsterDaata, Inc. (www.monsterdaata.com) is an Internet information utility company that has developed advanced data compilation, transformation and delivery technology designed to transform and distribute significant amounts of information from disparate sources for a number of business verticals and professionals. The company derives revenue through the distribution of content and applications solutions in a highly customizable, flexible manner. These products are designed to enable businesses to easily aggregate, analyze and distribute customized, industry-specific content in order to better drive their sales and marketing programs, increase revenue and traffic and reduce transaction costs.
The statements contained in this release which are not historical facts contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, the risks and uncertainties detailed in MonsterDaata's Securities and Exchange Commission filings.