London, March 02, 2016 (GLOBE NEWSWIRE) -- DoMark International Inc. (DOMK:OTCPINK), a pioneering investment company in game changing new technology and undervalued companies, is pleased to provide an update and review of the Company’s operations.
Management has spent since 2012 purchasing and investing in companies and products and cleaning up the company. DoMark Management are pleased to announce that we have completed a total restructure. We have written off our disappointing assets, restructured the company share structure, reduced debt and settled all our outstanding legal suits. DoMark has spent the last 6 months reviewing investments and partnerships that we believe have the potential to return significant revenues to the Company. We are pleased to announce that we have discovered a great opportunity for the company and negotiations are very advanced. Compliance wise, all financials and SEC filings are fully compliant and the Management believes that the overall corporate outlook is now looking extremely positive.
Corporate Vision Statement
DoMark’s focus is to operate as an investment/management company with the following criteria:
- Patented or patent pending technology or products;
- Companies that own "game changing" technology/products/assets in their respective fields;
- Products with mass-market consumer appeal and significant profit margins that are easily scalable;
- Products that can be managed and sold through our established operations.
- Companies which are undervalued with great assets.
Company Investments/Assets
Barefoot Science Shoe Insole Products (Ownership 15%) - DoMark is an investor and not actively involved with the marketing or sales of this patented, FDA approved product that improves the problems associated with tired sore feet, flat feet, corns, bunions, planar fasciitis, calluses and individuals struggling with diabetes. Barefoot Science was restructured by its management last year and also won an important court case over the ownership of the patents. The management have done a fantastic job preparing the company for relaunch. This company has the potential to be a billion-dollar global company. DoMark values its 15% ownership investment at $1.5 Million and believes that this investment has a fantastic upside.
Other Assets – Management has made the decision to write off our other investments due to poor performance. These write-offs will be added to our present $44 Million tax credit.
Management
DoMark has streamlined operations with only two full time experienced executives who have not been taking salaries for the last two years. All other requirements are outsourced. DoMark has also strengthened its advisory team with three globally recognized leaders. This line-up of expertise is designed to minimize operation costs and maximize corporate efficiency and shareholder value.
Company Finances
The Company has spent the last two years restructuring all debt obligations and changing the share structure and is completely up to date on its SEC filings and dealing with all legal requirements. Even though the Company has made substantial disappointing investments, we are pleased to report that the corporate debt is minimal at approximately US$845k and we have assets of US$1.5M. The Company also has the benefit of a US$44m tax loss carry forward which will maximize our investors return when we turn to profits in the near future. The burn rate is presently minimal and we are well positioned to deal with any future obligations. The Company is now looking to strengthen shareholder value by entering into a new investment/partnership in the very near future.
DoMark's Chief Executive Andrew Ritchie comments “I fully understand and sincerely apologize to shareholders for the fact that you have not seen a good return on your investment over the last few years during the restructuring and repositioning of the Company. This update may not be what shareholders have been waiting, however, as a result of the hard work and endeavor of the management team, we believe DoMark is now on solid footing and in a position where it can begin to deliver profitable growth. I am fully committed to turning your investment into great returns. I thank you for your patience and support as we enter into this new chapter for the Company. I will update you shortly on our negotiations”.
Andrew Ritchie
President & Chief Executive Officer
About DoMark International Inc.
DoMark International Inc. is a fully compliant SEC reporting publicly traded consumer electronics company listed on the regulated US OTC Bulletin Board under the symbol DOMK. The Company invests in game changing development companies. Important Safe Harbour disclaimer information is available at the following link: www.domarkintl.com