ATLANTA, GA / ACCESSWIRE / April 16, 2014 / Dutch Gold Resources, Inc. (DGRI.OTC) (the "Company") (http://dutchgoldinc.com) today clarified to shareholders its intention to declare a 10% dividend, and reaffirmed its intention to do so.
On January 30, 2014, the Company issued an 8K wherein was quoted, "Over the next three months, management will take active steps to rationalize our capital structure and clean up our balance sheet. We will complete a spin-out of the remaining mining interests and we will aggressively pursue the clean up of our balance sheet. We expect to focus all of our energy on new subsidiaries in a corporate structure that will reward our new operational partners and our current shareholders. In so doing, it is our intention to catch up our filings with the Securities & Exchange Commission as quickly as financing allows. We expect that these tasks will be completed by April 15, at which time the Company will declare a stock dividend of ten percent to shareholders of record as of that date". The Company has not yet brought current its filings with the Securities and Exchange Commission, although it is in the process of doing so. At such time as this step is completed, the Company reaffirms its intention to declare a dividend.
Under the Company's current business model, we expect to take positions in other companies that we help finance, whether through commercial financing or through our soon to be released crowd-funding platform. When we see potential for growth in these holdings, we intend to spin them out to DGRI via an S-4 or other applicable registration model. Given the Company's current cash constraints, any dividend during 2014, will be in the form of a common or preferred share of DGRI, or a spinout through an S-4.
Said Daniel Hollis, CEO, "We have received numerous inquiries regarding the proposed dividend, wherein shareholders failed to recognize the conditions precedent to the declaration of a dividend. Given the deluge of information about the new direction of the Company, this is understandable. We are committed to building shareholder value, making sure that our legitimate shareholders are rewarded, and making it difficult for others to "short" our stock. The dividend mechanism, as a reflection of our corporate growth helps us accomplish all of the goals".
The Company has come to an agreement with its new auditor, and has received the cooperation of its' prior auditor so that we may file an 8K announcing the new engagement and begin work on the audits by April 18, 2014. The target date for the completion of the audits is now mid June 2014. We are appreciative of the cooperation from our prior firm and look forward to moving briskly with our new auditor.
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
For further information, please see www.DutchGoldInc.com or please contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at 404-981-7424.
SOURCE: Dutch Gold Resources, Inc.