DigitalRooster.com Ltd spin-off Avrada cleared for trading
August 10 2004 - 5:00PM
PR Newswire (US)
DigitalRooster.com Ltd spin-off Avrada cleared for trading
DIGITALROOSTER.COM LTD. NASD OTC Bulletin Board SYMBOL: DGRLF
Berlin WKN No. AOBK9J SYMBOL: DGL TORONTO, Aug. 10
/PRNewswire-FirstCall/ -- Avrada Inc., the daughter company of
DigitalRooster received clearing from NASD that it can commence
trading on the OTC under the symbol "ARAAF". DigitalRooster remains
a significant shareholder in Avrada holding 4,007,607 shares of the
9,780,476 shares outstanding in Avrada. Most of the outstanding
shares are restricted and the float is estimated to be around
700,000 shares. Avrada is planning to file the appropriate forms to
move from the pink sheet to the bulletin board in the near future.
"The immediate focus is to start its European roll out." Referring
to the press release of May 18, 2004 according to John Alexander
van Arem. Mr. van Arem will stay on as interim CEO until the
company finds a suitable candidate to assume the role. "We are
excited at DigitalRooster as well for the spin-off because it will
enhance our efforts and Avrada's success will contribute greatly to
DigitalRooster's as well". The first 30 days there will be one
market maker, UCAP who has been very helpful in Avrada getting
cleared for trading. About DigitalRooster.com: DIGITALROOSTER.com
LTD. is a world leader in the marketing and billing solutions of
online entertainment. An IR package is available via email or on-
line at http://www.digitalrooster.com/. Please email for a copy or
call: 1-877-788-1940. A representative will be available to answer
any questions that you may have. About Avrada Inc.: Avrada Inc.
develops and distributes content for distribution to the
hospitality industry as well as distribution of a specialized hotel
industry portal that delivers data, applications and network
services to hotels in order to facilitate the delivery, and lower
the cost of real-time information processing. In compliance with
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, DGRLF notes that statements contained in this
announcement that are not historical facts may be forward-looking
statements that are subject to a variety of risks and
uncertainties. Accordingly, DGRLF wishes to caution readers of this
announcement that its future actual results may differ materially
from those that any forward-looking statements may imply. There is
no assurance the above-described events will be completed. There
can be no assurance of the ability of the company to achieve sales
goals, obtain contracts or financing, consummate acquisitions or
achieve profitability in the future. The above and additional
factors are discussed in detail in the company's filings with the
U.S. Securities and Exchange Commission. These may be viewed at
http://www.sec.gov/ and many other Web sites without charge.
DATASOURCE: Digital Rooster.com Ltd. CONTACT: DIGITALROOSTER.com
Ltd.: Investor Relations, (416) 815-1771 Or (416) 815-0044 (FAX); ,
http://www.digitalrooster.com/ x
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