Stockholm, Sweden, 2011-09-16 10:58 CEST (GLOBE NEWSWIRE) -- Dear shareholders,
Welcome to the first monthly newsletter from TrustBuddy International. We are hoping to make this effort once a month, to keep you updated with how your investment is doing.
Since doing the reverse merger with 360Holding AB (Publ), many things have happened. The old contents, online poker, ProStaker and Finansbet, had been losing money for several years and were sold. The company had a debt of approximately SEK 10 million towards Equity Dynamics AB, and this debt was written off to zero in the process. In essence, the company went from being debt-ridden with continuous losses, to being close to debt free and with solid cash reserves and a strong balance sheet. We will be publishing the financial results for the first TrustBuddy period 30th of November 2011, and look forward to presenting them to you. We can not disclose any actual figures before the official release, bet we are quite sure that you will be pleased with our performance.
You will probably be aware that the share is still under “O-listing” for Observation. This is quite unfortunate, but there are good reasons behind it. Since the merger, TrustBuddy has had a lot of interest from other P2P businesses, and as such there have been a number of parties with access to insider information – without really qualifying as being insiders. Therefore, TrustBuddy has been comfortable with having the share listed under observation. We have spent a lot of resources on evaluating the different options that have been presenting themselves, and will be bringing more news on this in the future. Right now we can only say that there will be several news-/press-releases coming from the company this year. With regard to the “O-listing”, we have initiated the move to get the share back to normal listing again, and hope to see it re-listed within a short time.
Every company has a relationship of some sort with its share price. TrustBuddy International focuses on doing our business properly, performing well financially and being able to secure new deals and be successful, which we believe will be reflected by the share price over time. There will, however, be certain efforts made to improve the current share liquidity, which we will bring you more information on as soon as possible. We hope that our investors are in this for the long run as well, and that you will be pleased with our efforts once you get to know the company’s business development
If you have any questions to us, we would love to hear from you on investorcare@trustbuddy.com. We thank you for having faith in us as an investment, and look forward to having you with us in the future.
With best regards,
Jens B. Glasø
CEO
