Distribution Management Services, Inc. Completes First Four Stages of Its Corporate Restructuring and Reorganization

ROCHESTER, N.Y., Jan. 12, 2011 /PRNewswire/ -- Distribution Management Services, Inc. (DMGM.US) heralds a new day as its senior executive management is pleased to announce that the first four stages of its long-awaited corporate restructuring and (non-bankruptcy) reorganization are complete.

Today, DMGM is filing the necessary documents with Delaware (i) to re-domicile itself from Florida to Delaware, (ii) to form and organize its merger subsidiary in Delaware, (iii) to effect a merger and reorganization under Section 251(g) of the General Corporation Law of Delaware, and (iv) to form and organize new subsidiaries in those jurisdictions where the company will carry-out its new business activities.

"We have been confronted by many significant and adverse administrative and operational challenges in recent years and we have overcome many obstacles in the past three months to arrive at this significant point in DMGM's corporate life.  These initial steps will allow us to mitigate risk and begin to repair the damage caused by the company's prior non-performing investments that DMGM and its shareholders have endured for the past six years," said Randolph S. Hudson, the company's Co-President, CEO, and Acting Chairman.

Michael P. Grande, the company's Co-President and COO added, "These steps will allow us to reposition the company, so it may begin to evaluate and close on the acquisition of new, performing assets and business opportunities.  These initial steps will lay the foundation and give the company's current and future management better tools to best service the company and its shareholders in the future."

Following the closing of the company's recycling center in July 2003, the company had been engaged in a number of significant business transactions; notably, its ownership and development of 264 residential building lots in Poinciana, Florida.  However, with the downturn in the nation's economy, the tightening of credit markets, and the negative general homebuilding outlook in Florida, the company was not able to follow-through with its plans.

The company's senior executive management intends to establish four principal units that will administer residential real estate, entertainment, retail foodservice and bar operations, and lodging management and operations in California, Nevada, and Florida.

The company will emerge from its reorganization under the name Corporate Management Solutions, Inc. and is awaiting consents and approvals by various regulatory agencies.  The overall restructuring process should be completed by January 31, 2011.

SOURCE Distribution Management Services, Inc.