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Garb Oil & Power Corporation's CEO and President Tammy Taylor Addresses Shareholders on a Reverse Split and Provides Progress on Corporate Initiatives to Advance the Company
Garb Oil & Power Corporation's CEO and President Tammy Taylor Addresses Shareholders on a Reverse Split and Provides Progress on Corporate Initiatives to Advance the Company.
About this update from Garb Oil & Power Corp
[{"type":"text","content":"\n \n \n Garb Oil & Power Corporation's CEO and President Tammy Taylor Addresses Shareholders on a Reverse Split and Provides Progress on Corporate Initiatives to Advance the Company\n \n \nGarb Oil & Power Corporation's CEO and President Tammy Taylor Addresses Shareholders on a Reverse Split and Provides Progress on Corporate Initiatives to Advance the Company\n \n LARGO, FL--(Marketwired - Jun 16, 2014) - Garb Oil & Power Corporation (OTC Pink: GARB) (PINKSHEETS: GARB) Today the Company's Chief Executive Officer and President Tammy Taylor released the following open letter to shareholders disclosing a reverse split and to provide progress on corporate initiatives to advance the Company.\n TO THE SHAREHOLDERS OF GARB OIL & POWER CORPORATION\n Over a month ago, the Company disclosed that at the time of uplift filing, if the Company's Common price per share (PPS) required a reverse split to qualify the elevation above OTC Pink Current Tier, that the Company would not lose a single shareholder. The Company has reached the point in time that in order to continue its progression toward elevation above OTC Pink Current Tier necessitates a reverse split of the Company's Common Stock. \n The Company has been in discussions to acquire several profitable operating companies whose operations fit in the Company's business model. One such target operating company fits the Company's division relating specifically to the Medical Marijuana Industry since it produces related paraphernalia products. Acquiring this and other targeted operating companies require the Company to rely in part on institutional investors whose criteria includes the Company being fully reporting and uplifted, thus necessitating the reverse split so that the Company is able to continue its progression toward elevation above OTC Pink Current Tier. During the next quarter, the Company expects to acquire a few of the current targeted profitable operating companies. In addition, the Company is progressing to acquire both the Largo, Florida commercial office/warehouse and the Reddick, Florida industrial manufacturing site.\n The Company's Board of Directors approved the following reverse split and other changes to the Company's Articles of Incorporation after receiving shareholder approval by majority written consent:\n (a) Decrease the aut...