CALVERTON, N.Y., July 11, 2005 (PRIMEZONE) -- AdZone Research, Inc. (OTCBB:ADZR), today said the company had begun distributing a dividend of 1,227,330 freely trading shares of Senticore, Inc. (OTCBB:SNIO) to shareholders of record as of October 20, 2004.
The shares are being distributed by AdZone's transfer agent, Island Stock Transfer. The distribution to shareholders, equal to 0.01417 per share of Senticore stock for each share of AdZone stock on the October 20, 2004 record date, when AdZone had 86,594,952 shares outstanding, will be both by mail and posting of shares to shareholder accounts held in street name.
Chairman & CEO Charles A. Cardona said that both he, and his brother, COO John A. Cardona, had waived their right to their portion of shares under the agreement in order to provide a larger distribution to other shareholders.
"This is a proud moment for us," Cardona said. "A dividend of any kind from an early stage company like ours is exceptional, and we hope to be able to further reward our shareholders in the future. We appreciate our shareholders' continued support of AdZone, and believe its promising future, as well as that of Senticore, will hopefully reward investors handsomely."
The company said the shares have been issued to the company by Senticore as part of Senticore's initial payment for participation in a previously announced commercial division contract. Senticore and The Justice Fund (TJF), a soon-to-be public company, signed a non-exclusive contract with AdZone calling for Senticore and TJF to jointly distribute and market NetGet's Internet commercial applications in both Asia and South America over the next four years. The contract anticipates payments for sales made on a continuing basis, with graduated annualized target goals, and with minimum overall revenues to AdZone of $2.5 million over the term of the initial contract.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.