COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Pinnacle Developments Inc. Announces the Preparation of the SB2 Application for Filing with the SEC and the NASD
BELLINGHAM, Wash., Aug 18, 2005 (PRIMEZONE via COMTEX) -- The management of Pinnacle Developments Inc. (Pink Sheets:PNCV) is pleased to announce that the company is having its financial statements audited in preparation for an SB2 filing for registration for shares and disclosure of financial information with the SEC and the NASD in September 2005. The purpose of the filing is to have the company's shares trade on the OTC Bulletin Board, giving Pinnacle access to a broad investor base, including institutions. Pinnacle's management is excited about the current state of the global commodity markets and is considering a number of acquisitions that will be accretive to revenues and earnings in the short term and provide for significant growth in the future. The company is positioning itself to take advantage of the shrinking supply and increasing demand for wood fiber through the acquisition of existing operations throughout Canada, the U.S. and other developed wood manufacturing countries.
As of August 15, 2005 Pinnacle Developments Inc. had 29,574,123 common shares issued and outstanding; and 7,680,790 of these shares are free trading. Holladay Stock Transfer out of Dallas, TX is registered under the Exchange Act and is an SEC approved transfer agent for Pinnacle Developments Inc.
Certain statements contained herein are "forward looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: Pinnacle Developments, Inc.
By Staff
CONTACT: Pinnacle Developments Inc. Investor Relations 1-888-634-8664
(C) 2005 PRIMEZONE, All rights reserved.
-0-
INDUSTRY KEYWORD: Business Services SUBJECT CODE: MANUFACTURING WOOD Company Announcement
Posted by Byrd on :
Okay, newbie question here:
Looks like an interesting stock. I'd like to get in on it, but it looks like trading has been suspended (I don't see any movement and it's frozen at a price.)
Can someone give me a clue about what to do with news like this?
Posted by cronic1342 on :
Byrd, volume was light on Friday and the stock still had gains of 10%. If PNCVs volume picks up this week then the stock could see nice gains.
I think sooner or later they might dilute. I personally would stay away from this and trade some other stock.
Posted by cronic1342 on :
jpantoni, is it just your opinion that they might dilute the O/S or do you have any info to back you up? If they were going to dilute don’t you think they would stay a pinky instead of moving up to the OTCBB.