ROCHESTER, N.Y. & NORTH PALM BEACH, Fla. & PINELLAS PARK, Fla.--()--The Board of Directors of Corporate Management Solutions, Inc. (OTC: YDGE) announces significant progress in the company's overall development and in that of its totally held subsidiary, Gentz, LLC, of Florida.
“We are grateful to those stockholders and investors who have endured our development and those who remain committed to the long-term development of the company, rather than trying to turn a quick profit during our organizational stage.”
On or about July 7, the company expects to file a preliminary Information Statement with the Securities and Exchange Commission that, among other things, will reveal that the company's Board of Directors resolved to spin-off Gentz. To that extent, the company will be declaring a stock dividend (following the effectiveness of the stockholders' actions) to its stockholders of record on July 1, 2011. To accomplish this, the company first must file certain documents with the State of Florida; whereby, Gentz will be converted from a limited liability company to a Florida corporation and will contemporaneously change its name to "Your Dancer Global Entertainment, Inc.". The corporate actions will become effective as the result of the written consent of the majority of the company's stockholders without a meeting. The company's Board of Directors expects the stockholders' actions to become effective on or about July 27, 2011, notwithstanding any extension of that time as the result of any comments by the Securities and Exchange Commission and/or other regulators or agencies. Following the effectiveness of the stockholders' actions, each stockholder of the company will receive one share of Your Dancer for every one share they hold in the company.
The company's current operations and assets are being conducted, and are located in, Pinellas Park, Florida and are owned by Gentz. Following the spin-off, the company expects to pursue a number of qualified acquisitions of certain select hotels and restaurants; however, while under negotiation, the company has not closed on any of these transactions, which are located in Florida and California. Of course, Gentz (then named Your Dancer) will continue to own and operate the existing cabaret in Pinellas Park, as well as pursuing qualified acquisitions of additional cabarets in other locations.
Michael P. Grande, the company's Co-President and Chief Operating Officer and the Chairman of the Board-elect, President-elect, and Chief Executive Officer-elect of Gentz said, "I think we're holding the course that was planned by the company several months ago. Notwithstanding some delays as the result of backlogs at our suppliers for our custom-designed furniture, decor, and signage, our remodeling schedule in Pinellas Park has pretty much been on schedule. We've built a new stage, built a champagne room, a humidor, and laid the tiles and built the private dance area. We're just waiting for our proprietary, branded furniture, carpet, and the signs."
The company has engaged the services of a qualified broker-dealer that will deliver a Form 211 to FINRA so that Your Dancer can obtain a symbol and have its stock quoted over-the-counter. The company's Board of Directors expects to release the symbol "YDGE', immediately following Your Dancer's approval to have its stock quoted over-the-counter by FINRA, after which the company will be issued a new symbol.
The company's Co-President and CEO, Randolph S. Hudson, will be meeting with a PCAOB-qualified independent certifying accountant on Friday, July 1, in order to engage the firm's services. The accountant will be preparing the company's audited financial statements and those of Your Dancer, so the company may submit the audited statements in its registration statement on Form S-1 in August and to permit Your Dancer to submit audited statements in its disclosure statement under Rule 15c2-11.
Mr. Hudson said, "Our administrative development is near full circle. The corporate actions that we are implementing were designed and intended to benefit our shareholders and our customers. It has been several months in the works and much credit should be given to our Board of Directors for guiding us to this point."
Good news to those who have been patient! The company expects its initial website to be operational on or about July 5. The address for the company's new website is http://www.corpman.us. Then, two weeks later, the introductory website for Your Dancer is expected to be operational. That website address is http://www.ydge.net.
Mr. Grande added, "We've had tremendous support in every sense from our largest stockholders, specifically in terms of interim financing. We're confident that once the club opens, we'll be successful by our accomplishments."
Mr. Hudson and Mr. Grande released a joint statement that stated, "We are grateful to those stockholders and investors who have endured our development and those who remain committed to the long-term development of the company, rather than trying to turn a quick profit during our organizational stage."
Following this stage of the company's restructuring, Mr. Grande will remain on the company's Board of Directors and Mr. Hudson will be resigning as a Managing Member and/or successive officer and director of Your Dancer.
For additional information, interested parties are encouraged to call Mr. Hudson at (561) 848-1224 or Mr. Grande at (727) 803-6996.
[The company is claiming "safe harbor" for its forward-looking statements made herein pursuant to the provisions of the Private Securities Litigation Reform Act of 1995.]

