LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) announces that, in connection with the previously disclosed spin-off of MachTen, the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by MachTen, Inc., the wholly owned subsidiary of LICT that was formed to be the new parent company for the Michigan operations post-separation.
The information statement that is attached to MachTen’s Form 10, including details regarding the separation, pro rata distribution and a discussion of the Michigan business, will be made available to LICT shareholders prior to the distribution date. It is expected that the distribution will be made in the third quarter.
In connection with the separation, MachTen is planning a conference call for investors on August 23 at 4:30pm ET. MachTen Chief Executive Officer, Dan Miller, will review the Michigan operations, financial performance and growth prospects, and answer questions. Dial-in information will be available at www.machteninc.com.
This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.
LICT Corporation is listed on the OTC Pink® under the symbol LICT. For further information visit our website at http://www.lictcorp.com.
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