SCOTTSDALE, Ariz., Sept. 14 /PRNewswire/ -- The following is an Open Letter to Shareholders and other interested parties issued by Zig Ziegler, Founder and Chairman of Motion DNA Corp. .
"In response to the many calls and Emails we have received, requesting an update regarding the progress of our ongoing discussions with Jamir Miller, General Partner of Formula 51-2 LLC, we felt it would be prudent and appropriate to issue a statement at this time."
"Along with Bryan Greenwood, Chief Financial Officer, we are currently writing an addendum to our Business Plan, specifically outlining the Use of Proceeds, if and when there may be an infusion of capital by Formula 51-2. We expect to finish this document and present it to 51-2 in a week or so."
"Over the past several weeks, Mr. Miller and I have been exploring many possibilities, any of which could result in an investment or acquisition by Formula 51-2 of Motion DNA. We have discussed a plethora of avenues, including their purchasing Motion DNA common stock in the open market, investing in short-term convertible debentures and warrants, and buying some of the founder's stock."
"At this point the structure of the deal has not been formalized. I need to stress that although Mr. Miller's intention is to make a significant investment to ensure the longevity of our Company and its mission, nothing should be implied that there is any guarantee that a deal will be sealed."
"I am committed, along with our Board of Directors, that we will do everything to enhance the shareholder value of our common stock, and ultimately we intend to make the right financial and strategic decisions for all of our stockholders with regard to Formula 51-2."
"We intend to investigate every possible avenue for an agreement with Formula 51-2. If an agreement cannot be reached with Formula 51-2 by the close of business on October 14, 2005, we will begin to explore opportunities with other interested parties. We would like to take this opportunity to thank each and every shareholder who has taken the time to contact us. We read every Email and field as many calls as humanly possible. We sincerely appreciate your continued interest in, and loyalty to, your Company-Motion DNA."
About Motion DNA
Motion DNA, a Scottsdale, Arizona-based company, has developed several products utilizing advanced motion-capture technology that provides a significant service to the sports community.
The Company has developed advanced systems designed for coaches, trainers and other professionals that are valuable tools for analyzing the specific athletic movements found in baseball, softball, golf, running, and more. Motion DNA blends sports and science to maximize athletic performance and reduce injuries.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
For more information on Motion DNA Contact:
Motion DNA Corporation
15023 N. 73rd Street
Scottsdale, Arizona 85260
1.877.425.7734 toll free
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Motion DNA Corp.