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delSECUR Corporation Announces Distribution of Its Asset to Lenders


5/23/2011 6:48:37 AM

As previously announced delSECUR CORPORATION will dissolve itself and has received majority shareholder approval for such. Using its only asset, it is now finalizing the processing and distribution of QTech shares in satisfaction of its existing debt to all of its lenders. It will now start the process of distributing all of its remaining asset, the balance of QTech shares, to delSECUR CORPORATION shareholders in the form of a "liquidating dividend" on a pro-rata basis. That is, the remaining QTech shares will be distributed based on the proportion of total delSECUR outstanding shares held by each shareholder.

After having distributed all of the assets of delSECUR, the CORPORATION will be dissolved in accordance with Nevada State Law. Proper legal notice will be given in local newspapers to that effect. All shareholders will be contacted by the Corporation's U.S. Transfer Agent either directly or in the case of nominee name through their broker.

delSECUR CORPORATION, a public company (Pink Sheets:DLSC.pk - News) with its head office in S. Burlington, VT has been involved in the development of a unique authentication process based on abstract images of biological data collected from the fingers of living persons. This technology was sold, under the terms of an Asset Purchase Agreement, in October 2009 to QTech Systems Inc., an Ontario company in exchange for 49% of the shares of that company.

This Press Release may contain forward-looking statements. These forward looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements and are subject to the risks normally associated with the completion of a corporate transaction. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.


Read at BioSpace.com


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