PHOENIX, April 2, 2007 (PRIME NEWSWIRE) -- B2 Digital, Inc. (OTCBB:BTOD), an innovator in the digital content delivery business, announced the retirement of 48,000,000 shares of common stock into the company's treasury.
B2Digital today finalized a share exchange agreement with an existing shareholder, whereby the shareholder will exchange 48,000,000 shares of common stock for a class of preferred shares. B2Digital intends to withhold these common shares in their treasury account.
"In deciding whether to retire these common shares, we considered many factors including the current market price of our stock, the number of common and preferred shares issued and outstanding before and after the retirement, our shareholders' current equity, the shares of common and preferred stock available for issuance in the future, the liquidity of the our stock in the market, and the nature of the our current operations," stated Robert Russell, B2Digital's CEO.
"We believe that this recent retirement of common shares should provide us a share count that is more consistent with our potential economics," Mr. Russell added. "Specifically, by reducing the float, we should be able to facilitate meaningful levels of per share earnings and better enable our shareholders to identify changes in operating results as we continue to increase our profitability."
More information about B2Digital, Inc., including their Independent CFA Investment Analysis report prepared by Investor Insight and links to their Securities and Exchange Commission public filings can be found on their webpage at www.audiostocks.com.
About B2Digital
B2Digital is a leading innovator in the delivery of digital content. B2Digital is actively designing new technologies to be integrated into existing content delivery platforms for small to medium-sized cable television companies, allowing cable companies to deliver more and higher quality services through existing hardware platforms. B2Digital, through its wholly owned subsidiary Hotel Movie Network, also owns a minority interest in www.b2now.com, a provider of community oriented content through Internet Protocol Television. . About AudioStocks.com
AudioStocks.com is an Internet-based publishing platform designed to create, catalogue, distribute and make functional, financial content and data related to that content. AudioStocks.com solutions generate rich media exposure for public and private companies, industry groups and investment professionals through the AudioStocks.com proprietary software platform. AudioStocks.com software is primarily used to: (1) facilitate executive and company participation in industry and event-based roundtables and conferences; (2) create and distribute audio-based content related to a particular private or public company or an industry in which a company conducts business; (3) append interview-related and other rich media content to traditional press releases; and (4) for registered investment professionals only, to add interview-based audio content to financial research. AudioStocks.com content is distributed to millions of individuals online and over 30,000 financial professionals, including North American and international buy-side analysts, investment research professionals and portfolio managers. All content is copyrighted to protect licensing partners.
Forward-Looking Statements
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing and the demand for the Company's products. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC").