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Press Release Source: Market 99, Ltd.
Market 99 Announces Share Structure Changes
Thursday February 21, 4:35 pm ET
DALLAS, Feb. 21 /PRNewswire-FirstCall/ -- Company officials have announced that recently Market 99 (Other OTC: MNTY.PK - News) has made some significant changes to the share structure of the organization. Organizational changes approved by the Board of Directors include the increase of the authorized shares by 2.5 Billion, along with the retirement of Mr. Milligan's 1.2 Billion shares. Challenged by the ongoing debate between a reverse stock split and increasing the authorized shares, the MNTY team stands behind the Boards decisions and trusts all of the long-term investors will appreciate the reasoning behind the approvals.
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Current progress with opening of the new stores is in full force and product is being purchased to stock the shelves as soon as keys are delivered from the contractors. Time lines from the contractors have been requested by Mr. Brola to be updated and submitted. Market 99 has added that additional press will be issued upon the review of the time lines.
Company officials for Market 99 thought it would be important for the shareholders to understand the cost associated with opening a new 15 Thousand square foot, 99 cent Super Center. Each Market 99 Super Center that opens has an approximately $250,000.00 price tag. MNTY has expressed that stock dilution at this level is a needed to continue the efforts of opening stores. According to recent studies preformed by the MNTY team, anticipated revenues to be generated with the opening of the 5th store should have a significant impact on the corporation so that stock dilution will be less of a required factor to open new stores or to sustain financial operations.
ABOUT US
Market 99 is a discount retailer with 15,000-20,000 square foot stores selling mainly name brand merchandise to value-conscious consumers. Market 99 carries Consumables, Health and Beauty Aids, Stationery Items, House wares, Cold Foods, Frozen Foods, Women's Accessories, Women's Clothing, Men's Clothing, Children & Infant's Clothing, Seasonal, Arts & Crafts, and Toys, all for .99 cents or less.
Please visit
http://www.MyMarket99.com for additional information.
http://www.MNTYInvestor.com
Disclaimer:
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements," which are statements related to future, not past events. In this context, the forward- looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements.
These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.
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Source: Market 99, Ltd.
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