THE AUTOMOTIVE RESOURCE NETWORK HOLDINGS, INC. (ARNH) CEO KATHLEEN ROBERTON ANNOUNCES A NEW DIRECTION & NEW OBJECTIVE FOR ARNH
May 06 2013 - 8:17AM
OTC Markets
The Automotive Resource Network
Holdings, Inc. CEO, Kathleen Roberton is pleased to announce
that ARNH is
making significant progress in adding value to its balance sheet.
ARNH is in
the final stages of negotiations to acquire several profitable
enterprises as
wholly owned subsidiaries, for Convertible Preferred Stock. Much
more
information will be forthcoming on these companies as ARNH moves to
closure on
each of these agreements.
This
approach of acquiring many different companies and/or buying debt
or equity
securities in different issuers is consistent with the New
Direction of ARNH. The
goal is to become a 1940 Investment Act Company, or appropriately
be defined as
a Business Development Corporation. This is by far the best move in
order to
insure that each individual that has
made a financial investment to date,
either in common shares or preferred shares has the best
opportunity going
forward. ARNH is hosting an important conference call
today on Monday, May 6,
2013 at 2:00 p.m. Pacific Time / 5: 00 p.m. Eastern
Time to
further clarify how we intend to protect common shareholders in
this new and
dynamic direction for ARNH.
The
live call will include a moderated Q&A, after the prepared
remarks. The
dial-in telephone number for the live audio is as
follows:
North
America: 1.605.475.6700 Access Code
728728#
Kathleen
Roberton, CEO, The Automotive Resource Network Holdings Inc.,
states: “The New
Direction of ARNH will make us leaner and meaner. We understand
that part of
building shareholder value, is committing to enhance shareholder
equity. We
intend to enhance not only our balance sheet, by aggressively
pursuing
profitable enterprises, through forward acquisitions or asset
purchase
agreements, but we also plan on being proactive with our
disclosure
requirements and our obligation to answer shareholder inquiries. A
top priority
for ARNH will be to host more frequent shareholder conference calls
to appraise
and clarify the progress being made with our stockholders. We have
been
derelict in those duties in the past, and understand that in order
to repair
shareholder confidence, we must have a constant informative
dialogue with our
shareholder base. We have also committed not to file for a Reverse
Split with
FINRA, until we can justify that the price would warrant the
reverse as it mirrors
the value of the audited consolidated financial statements. Any
future RS, a
subject of dialogue, will be selected to provide our newly found
shareholders
of record (many being our past common shareholders who have
suffered loss) the
opportunity to be part of a registration statement with the SEC.
Additionally,
the pivotal part to becoming a BDC, which for us is the right move
to make for
the following reasons: a BDC holds the Officers & Directors to
a higher
standard, increases the size of the board, while positioning our
enterprise as
a dividend and equity opportunity. Our goal is to pay our
Convertible Preferred
Stockholders cumulative dividends on a quarterly basis, so as to
eliminate the
threat of repetitive dilution under the New Direction.
Kathleen
Roberton further states, “Management has removed almost $500,000 of
affiliated
debt from the balance sheet and over $100,000 in non-affiliate
debt.
Previously, our note holders converted their debt in order to
receive payment;
moving forward this will not be permitted outside a registration
statement. We
now have increasing equity and negligible debt on the balance
sheet. In order
to become a BDC it is a prerequisite to have our debt to equity
ratio below
50%, which we now meet. In addition, we have already made some
acquisitions,
and will be making more focusing on a much diversified portfolio,
another requirement
of a BDC. Our objective moving forward
will be to acquire existing profitable private companies, through
convertible
preferred instruments and pay dividends to the shareholders. We
have the contacts
to add and book the value, and we now have the expertise to parlay
that value
into shareholder equity.”
We
look forward to any further inquiries from our stockholders. For
more
information, please send your questions to ARNH.corporate.services@gmail.com if
you
cannot participate on today's conference call.
About The Automotive Resource Network Holdings
Inc.:
The
Automotive Resource Network Holdings, Inc. is newly emerging as a
holding company
targeting the acquisition of undervalued, niche companies with high
growth
potential, income-producing commercial real estate properties and
high return
investments all designed to pay a dividend to our
shareholders.
FORWARD-LOOKING
STATEMENT
ARNH
cautions that statements made in this press release constitute
forward-looking
statements, and not guarantees of future performance, and actual
results or
developments may differ materially from projections in the
forward-looking
statements. Forward-looking statements are based on estimates and
opinions of
management at the time the statements are made.
Contact:
Kathleen Roberton
tel:(212)-634-7470
SOURCE
The Automotive Resource Network Holdings, Inc.