Findit, Inc. Announces Extension of Restructured Equity of Common Stock into Preferred Stock Which Reduced Outstanding
Shares
On March 3, 2016 Findit, Inc. announced the reduction of common stock through a conversion to preferred for a lock up period of
18 months; today that period was extended
ATLANTA, GA--(Marketwired - Jan 30, 2017) - Findit, Inc. (OTC PINK: FDIT), an innovative social media management company,
today announced that its stock swap of 1.3 billion shares of its Common Stock for Series B Convertible Preferred Stock lock up
has been extended.
In connection with the stock swap, the holders of the Common Stock being swapped, LinkMyFan, Inc. and WooEB, Inc., originally
agreed not to convert their Preferred Stock for a period of 18 months as of December 31st, 2015. These shares would have been
available for conversion back to common in June of 2017. LinkMyFan and WooEB, Inc. have extended the lock up for an additional 12
months to June of 2018.
"The extended lock up of the Common Stock benefits our Shareholders," said Raymond Firth, President of Findit. "Our focus
right now is developing Findit.com into an extremely useful platform for our
members that are looking to manage their content in one place while enabling it to be indexed in search engines and shared across
social platforms. The lock up of the preferred shares for an additional 12 months provides our current shareholders the ability
to look into the future without concern of dilution from these shares being available to be sold into the market."
Our current structure is the following:
Outstanding Common Stock will remain reduced from the 1,629,170,032 to 329,170,032 shares. Of these 329,170,032 shares
outstanding, a minimum of 238,102,079 are restricted under Rule 144. This would limit the amount of shares that can be sold under
Rule 144 to a maximum number, based on 1%, of only about 3,300,000 every 90 days. Prior to the conversion it was over 16,000,000
shares per 90 days.
The Company estimates the number of Common shares restricted that have not been freed up by shareholders that hold restricted
certificates at approximately 26,984,295, bringing the total number of restricted shares to 260,568,079 leaving approximately
59,327,077 shares of Common Stock in the float.
About Findit®, Inc.
Findit, Inc. owns and operates the websites: www.Findit.com, TransWorldNews, LinkMyFan, WooEB and LinkMyStock. Findit is a
Social Media Campaign Management interactive
search engine platform that provides Members the ability to post, share and manage their content. Once they have posted in Findit
we ensure the content gets indexed in Findit. Findit provides an open platform for anyone to submit URLs that they want to have
indexed in Findit along with posting status updates through Right Now. Status Updates posted in Findit can be crawled by outside
search engines to assist in additional organic indexing. All post can be shared to another eight prominent social and bookmarking
sites. Findit provides Real Estate Agents the ability to create their own Findit Site where they can pull in their listing and
others through their IDX account. Findit also offers News and Press Release Distribution. Findit, Inc. is focused on the
development of monetized internet based web products that increase brand awareness of both private and public companies along
with individuals, entrepreneurs and artists. Our press release distribution services have over 285 publishers to assist our
members in building brand awareness.
Safe Harbor Statement: This press release contains forward-looking information within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of
the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or
achievements of Findit®, Inc. to differ materially from those implied or expressed by such forward-looking statements. This press
release speaks as of the date first set forth above, and Findit®, Inc. assumes no responsibility to update the information
included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to
factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of
potential customers to pay for ordered products, and political and economic risks inherent in international trade.
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