Beijing, China / ACCESSWIRE / May 21, 2014 / Kenergy Scientific Inc (KNSC) www.knsc.info https://twitter.com/knsc2 (The Company), an innovative media marketing services company, is pleased to announce that the Company has successfully completed the compliance requirements with the Depository Trust & Clearing Corporation ("DTCC") and as of May 19, 2014, the DTCC's "Administrative Chill" on placed upon KNSC security has been removed Shareholders who had experienced difficulty or additional costs when depositing the Company's shares manually are now able to have their shares deposited electronically in street name.
DTCC has resolved all issues and cleared the Company to resume accepting deposits of the Company's common stock for book entry transfer services. All deposit restriction chills have been removed and the Company is now once again fully "DTCC Eligible". The re-instatement of the DTC depository services is an instrumental and enormous accomplishment for KNSC. For further information, please refer to your individual brokers concerning their respective policy modifications due to the lifting of the DTCC "Chill". KNSC is mindful that many of its long term shareholders are eager to find out any future plans to that would result in the increase shareholder values.
The management is pleased to provide the disclosure of the 5 step plan.
1. With this DTCC issue now behind KNSC this paves the way for the launch of long anticipated Stoned Pilots.Com marijuana based portal the Company has been working on for almost a year. Plans for the portal launch are imminent.
2. Many shareholders have associated KNSC China address to a LED type Information Technology China based company, and are inquiring as to the relationship of that Company (which is also a public company subsidiary) to KNSC. In summary this China entity is desirous to bring their technology into KNSC and also solve KNSC new CEO search as previously announced. Those plans stalled with the DTCC chill. Now that the DTCC chill has been removed this again will be revisited.
3. Company agents are again in China discussing with one of Chinas largest Hemp producers for a cooperation plan that would dovetail their business model with that of KNSC. Obviously these plans are pari passu with the aforementioned LED China / new CEO stakeholder deal. KNSC share structure remains unchanged and undisturbed since the new management took over in 2013. See http://www.otcmarkets.com/stock/KNSC/quote
Again as this is worth repeating, as there are no plans of any dilution or toxic financing by the current management of its position. Share Structure Market Value1 $1,565,243 a/o May 20, 2014 Shares Outstanding 5,217,475,719 a/o Sep 01, 2013 Float 3,017,475,719 a/o Jul 03, 2013 Authorized Shares 10,000,000,000 a/o Jun 25, 2013
4.New KNSC Management has been successful in blocking close to a billion shares from entering the market fromquestionable toxic financier's the ex-management engaged with.
5.Regarding aforementioned item #4 the new management has placed the ex-management on notice specifically Ex CEO Mr Ken Glynn that it intends to take certain legal action regarding the above and other matters. In summary, new management is attempting to recover and reduce the shares outstanding between 220 million to as much 1 billion shares.
KNSC management is using this opportunity to advise its followers that certain information posted on OTC Markets is inaccurate, such as some management names and the line of business KNSC is engaged in. KNSC is not engaged in "as a holdco with interests in Forex Options and Options trading and Operates on line properties". Rather the Company is a holdco of several Media operations such as "Stoned Pilots and Sparx Business Media". KNSC has notified OTC Markets of this error on several occasions, however it appears the old deleted data has been repopulating this web site and displaying in the public domain.
The management is of the opinion that either one or as planned all 5 aforementioned corporate actions will have a significant positive valuation of KNSC security.
Future developments, events and news releases will follow on a timely basis.
Find us on https://twitter.com/knsc2
Safe Harbor Statement
This press release contains 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. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Kenergy Scientific, Inc.
SOURCE: Kenergy Scientific, Inc