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[QUOTE]Originally posted by Spartans: [QB] After hours PR...Explaination of the dividend...Interesting approach to deal with NSS...Any thoughts? I have no idea how this may affect the PPS...Hope it's north... Xtreme Motorsports Provides Update Regarding Cash and Stock Dividend BAKERSFIELD, CA -- (MARKET WIRE) -- February 28, 2007 -- Xtreme Motorsports of California, Inc. (PINKSHEETS: XTMS) ("Xtreme" or the "Company") today provided an update regarding the cash and stock dividend announced on February 16, 2007. Shareholders of record as of February 12, 2007 will receive a 1% stock dividend, or 1 share of restricted common stock for every 100 held as of the record date, and a cash dividend of $0.0001 per share. The Company anticipates completing the distribution on or before June 1, 2007. As previously announced, the cash and stock dividend is intended to protect shareholders and address the recent drop in share price during the week of February 5, 2007, which the Company believes is the result of reputable brokerages engaging in the illegal practice of naked short selling. The Company will consider taking further action if this activity continues. "While we understand that the dividend is relatively small, our intent was to cause any short sellers to cover their positions," commented Alan McCaa, President & CEO of Xtreme Motorsports. "On an annual basis, Xtreme will evaluate the distribution of a dividend to shareholders and hope to increase the amount in the future." [/QB][/QUOTE]
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