Dynasty Limousine, Inc., a full service luxury transportation and limousine firm covering the southeast United States, today announced it has received certified share statistics following the recent 3:1 forward stock split. Received from the company's transfer agent, Broadridge Corporate Issuer Solutions, a copy of the certification has been posted on the OTC Markets Website. Investors can access the report via the following link: www.otcmarkets.com/stock/DNYS/financials.
Dynasty Limousine recently executed a 3 for 1 forward stock split for the purpose of creating a more orderly trading market in its securities. Certified post-split share counts as of May 30, 2012 are as follows; Authorized shares 100,000,000, Shares issued and outstanding 14,539,275, Shares in public float 2,946,272.
Pierce Fleming, Dynasty Limousine's CFO and VP, commented on the current share structure. "We are committed to non-dilution and the certified statistics from our transfer agent confirm that only 30k shares have been issued in the past 19 months. This represents an increase of .00206% in over a year and a half since the company started trading. We are proud of this and feel that we are part of only a small fraction of OTC issuers who are protecting shareholders in this manner."
Mr. Fleming also commented on the public float numbers. "DNYS has a very small float of 2.9M; however the effective float is likely much lower as many of the original investors still hold shares from when Dynasty was a private company. The float had been estimated at 2.2M post-split, however every share sold when the company was private was restricted. These investors have held since 2008 and 2009, so as they come into the market the float will change. Dynasty does not control the public float, only the amount of shares that are issued and outstanding. The company has no convertible debt and no outside financing arrangements calling for any share issuance whatsoever."
Dynasty Limousine recently posted record annual revenues, and subsequently has posted a record first quarter for this year. "Based on the current share structure and the closing price as of May 31, 2012, DNYS has a market capitalization of $741,503," stated Mr. Fleming. "With 2011 revenues of $718,494, first quarter revenues of $204,662, and a record April in which the company generated over $89,000, DNYS is trading at a P/E well below market averages. We will continue to grow the business and several additional revenue streams are being explored to add long term shareholder value."
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