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Garb Oil & Power Corporation Announces Operational Additions In Tandem With A Reverse Split
Garb Oil & Power Corporation Announces Operational Additions In Tandem With A Reverse Split.
About this update from Garb Oil & Power Corp
[{"type":"text","content":"Garb Oil & Power Corporation Announces Operational Additions In Tandem With A Reverse Split\n \nFOR IMMEDIATE RELEASE\nLargo, Fla., May 28, 2015/ Garb Oil & Power Corporation (OTCPink: GARB) The Company believes that the current low per share market price of our common stock has had a negative effect on the marketability of our existing shares. We believe by increasing the per share market price of our common stock as a result of a reverse stock split, we might encourage greater interest in our common stock and enhance the marketability of our common stock to the financial community and investing public, as well as promote greater liquidity for our stockholders. Based on these sound considerations, the Company filed yesterday with the Securities and Exchange Commission (“SEC”) a Schedule 14C (Preliminary Informational Statement) for a 1-for-10,000 reverse split of the Company’s issued and outstanding common stock. Fractional shares shall be rounded up to the nearest 50 whole shares. The Company’s 50 billion (50,000,000,000) authorized common stock at no par value will be reduced to 75 million (75,000,000) authorized Common Stock at $0.001 par value subject to implementation of the 1-for-10,000 reverse split.\n \nThe Company worked diligently to once again be a SEC fully reporting company. In less than 9 months, the Company has gone through 4 years of audits (2011 through 2014) and 10 quarterly reviews (the 3 quarters for 2012 through 2014 and first quarter 2015). The tremendous amount of work hours required to achieve this reflects the dedication, commitment and perseverance of Garb's team for the Company to advance its business plan.\n \nOur primary focus is to increase Company revenues.\n \nFor the first time in many years, the Company had annual revenues during the year ended December 31, 2014 ($300,000). The expected greater interest and marketability of our common stock to the financial community once the reverse split is in effect will allow the Company to move forward in utilizing the current leased 16,838 square feet warehouse space and in the purchasing of the entire 55,785 square feet warehouse complex. Funds are required to meet down payment requirements to purchase the property. In addition, the Company desires to meet the down payment r...