TMCnet News
Dynasty Limousine Purchases Cyber-ThingyDec 06, 2012 (Close-Up Media via COMTEX) -- Dynasty Limousine announced the Company has completed an acquisition of Cyber-Thingy, a custom kiosk and tablet distribution company offering numerous online transaction and fee based financial products within a proprietary software platform. According to a release, Cyber-Thingy's diverse online product offerings, places the company in a few explosive industries that have a combined global industry revenue of over 250 billion dollars. DNYS issued Cyber-Thingy 100 million shares of restricted Common stock as part of a share exchange, Cyber-Thingy has agreed NOT to effect any reverse splits on the Common stock of DNYS for at least One (1) year. Dynasty said the share structure of the Company's Common Stock currently is 114,539,275 issued and outstanding, 2,946,272 in the float, and 111,593,003 restricted shares of stock. DNYS entered into an agreement with free trading shareholder who controls approximately 600,000 shares of free trading Common stock. The agreement was executed to restrict their sales of DNYS to 10,000 shares per day for 90 days following the closing. The amount may increase to 20,000 shares per day should the volume reach 500,000 shares for 5 consecutive trading days. DNYS has divested itself of Dynasty Holdings, a company created to hold the Assets and Liabilities from the Limousine operations. Currently DNYS has no long term or short term loans or notes. The Company carries NO convertible debt and has NO intentions of engaging in that type of transaction. As part of the transaction, the Company noted that the Flemings have given it all the assistance needed to create a due diligence package from the beginning of the Company and Pierce Fleming has agreed to assist the Company in getting its financials audited. Cyber-Thingy has agreed to use its best efforts to change the name of the Company and obtain a new ticker so it can release the name "Dynasty Limousine" back to the Flemings. Cyber-Thingy provides attractive internet based, multi-functional kiosks and tablets for the Domestic and International markets. ((Comments on this story may be sent to [email protected])) |