NEW YORK, NY - December 17, 2013 - United Treatment Centers Inc. (OTC Pink: UTRM), a leading proprietary trading firm based in New York, announced today its board approval to spin out Element Trading Technologies LLC. United Treatment Centers Inc. has engaged the services of CPA firm Michael T. Studer P.C. to audit the financials of UTRM and will continue to use the firm's counsel, Securities Counselors Inc., to file an S-1 registration. The firm announced that it will issue a special dividend to UTRM shareholders of record as of December 31, 2013. The special dividend will give shareholders of record as of December 31, 2013 one share of Element Trading for every one hundred shares of UTRM. Any odd lot will be rounded up to one share. Charles Vaccaro CEO of United Treatment Centers Inc. said, "We are excited about this decision and feel it will increase shareholder value going forward. We are presently negotiating with two firms that have expressed sincere interest in acquiring UTRM and hope to have a final decision shortly." United Treatment Centers Inc. acquired Element Trading Technologies in August 2012 in a reverse acquisition and has run the Element operation as a wholly owned subsidiary. Upon the completion of the spin out Element would be its own public company with its own symbol and would be an OTCBB listed company. The plan is to upgrade UTRM to an OTCBB listed company in this process creating two public entities. Element Trading Technologies will continue developing risk management software for the active trader market and increasing their proprietary trading model globally. Liam Tynan, the firm's Chief Financial Officer, said, "This decision was made in an effort to give our shareholders increased shareholder value and to stream line the business of Element. With our marketing plans for 2014 we felt this is one piece of the business plan that will create market awareness for Element in the year ahead."
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SOURCE: United Treatment Centers, Inc.