Universal Apparel & Textile Company (OTC:DKGR) is pleased to announce that it will not file for any increase in the Authorized or initiate any reverse splits in the foreseeable future. This contentious issue has been a concern for shareholders as evidenced by the numerous emails received.
The decision was made due to the company’s rapid growth and other undisclosed events to soon be revealed. This resulted in the opinion of the current management team that the stock price does not adequately reflect the true value of the company.
Mr. Kabir, CEO of Universal Apparel & Textile Company, comments, “We are pleased with the progress the company has made during the first five months of 2019. We expect the remainder of the year to be even stronger. The tariffs on Chinese goods has given us a competitive advantage that we intend to fully embrace.”
Updates will be forthcoming.
Universal Apparel & Textile Company
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About Universal Apparel & Textile Company
Universal Apparel and Textile Company is a vertical marketer, manufacturer, and distributor of high quality branded and private label activewear apparel. We specialize in selling a variety of casual and athletic wear tops and bottoms, embellished and unembellished T-shirts, and fleece products for the ever-changing apparel market.
Safe Harbor: This release includes forward-looking statements, which are based on certain assumptions and reflects managements current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.