CHICAGO, July 26, 2017 (GLOBE NEWSWIRE) -- Professional Diversity Network, Inc. (NASDAQ:IPDN) (“PDN” or the “Company”), a global developer and operator of online and in-person networks that provide access to networking, training, educational and employment opportunities for diverse individuals, today announced the launch of a comprehensive corporate communications strategy to improve both shareholder transparency and accountability.
- Enhanced Tools to Make Useful Information Available to Investors
- Clear, Consistent and More Frequent Messaging About U.S. and China Operations
- Increased Transparency from Management and Accountability to Shareholders
PDN believes that several factors have combined to impede the performance of its common stock price, preventing it from better reflecting the Company’s growth potential. Among other things, PDN believes that its common stock performance has been the result of a lack of consistent, readily-understood communications to investors, coupled more recently with investors’ general reluctance to invest in Chinese-led companies or companies with extensive Chinese business lines.
To address these issues, the Company has recently undertaken a comprehensive review of its common stock performance vis a vis internal and market factors as well as its previous corporate communication strategies in order to identify opportunities for improvement. As a result, the Company has recently:
- Retained a new investor relations representative to help coordinate communications
- Begun crafting new corporate presentations
- Launched a new corporate website, available at www.ipdnusa.com
- Initiated the build-out of an enhanced investor relations portal
- Planned upcoming investor conference calls and shareholder updates
- Calendared attendance and/or representation at selected investor conferences
“Our mission,” said Jim Kirsch, PDN Executive Co-Chair, “is not only to perform at a high level of operational excellence, but to make sure that investors have the information necessary to make the informed choice to invest in us. Recent actions, including insider purchases by both myself and our CEO, are indicative of a continuing confidence in our ability to build sustainable shareholder value. While we believe our financial results will ultimately speak for themselves, we are also keenly aware of the importance of consistent and clear messaging, providing our current and prospective investors with resources which they can use to assess their investment in our Company.”
Chris Wesser, EVP & Corporate Secretary, added, “While our distinct business lines in the U.S. and China create multiple value propositions, we believe that there is room for improvement in how we articulate and present our overall business operations. The steps we are discussing today are important and reflect our entire management team’s commitment to continue building value for our shareholders while engaging the marketplace in a compliant and transparent manner. Though we are early in this process, preliminary results are encouraging. I look forward to being able to announce our progress as we build out our new corporate communications function.”
The Company previously announced its successful entry in the Chinese market with respect to its international education services division - through its new subsidiary AETSI, Inc. - as well as its international professional training division - through its Shared Economy Events. As preliminarily reported in the Company's most recent 10-Q, it has already derived revenue from its entry in the Chinese market.
About Professional Diversity Network (PDN)
Professional Diversity Network, Inc. (PDN) is a global developer and operator of online and in-person networks that provides access to networking, training, educational and employment opportunities for diverse professionals. We operate subsidiaries in the United States and China including National Association of Professional Women (NAPW), which is one of the largest, most recognized networking organizations of professional women in the country, spanning more than 200 industries and professions; Noble Voice, a career placement and career counseling call center; and AETSI, Inc., our U.S.-based subsidiary through which we operate our U.S.-China education operations. Through an online platform and our relationship recruitment affinity groups, we provide our employer clients a means to identify and acquire diverse talent and assist them with their efforts to comply with the Equal Employment Opportunity Office of Federal Contract Compliance Program. Our mission is to utilize the collective strength of our affiliate companies, members, partners and unique proprietary platform to be the standard in business diversity recruiting, networking and professional development for women, minorities, veterans, LGBT and disabled persons globally.
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our most recently filed Annual Report on Form 10-K and in our subsequent filings with the Securities and Exchange Commission. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," “plan,” "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. Our most recently filed Annual Report on Form 10-K, together with this press release and the financial information contained herein, are available on our website, www.prodivnet.com. Please click on "Investor Relations."
CONTACT: Professional Diversity Network, Inc.
Chris Wesser – EVP and Secretary
Jim Kirsch – Executive Co-Chairman
Jason Assad – Investor Relations
Professional Diversity Network, Inc.