Business
Jetblack Corp. (JTBK) provides update on operations
Jetblack Corp. (JTBK) provides update on operations.
About this update from Jetblack Corp.
[{"type":"text","content":"Jetblack Corp. (OTC: JTBK) “the company” has released an update to its operations. JTBK has terminated Empire Stock Transfer as the company transfer agent and hired Pacific Stock Transfer Company as JTBK’s new transfer agent. The company was experiencing communication issues with the previous transfer agent, the company felt it was becoming detrimental to the companies success. JTBK is eager to work with our new transfer agent so we can accept future investments and that the investors will have the ability to lift the restrictions on their stock for resale in the future. “We have had many corporate issues since I became CEO in 2016, from discharging the custodian, finding a broker-dealer to accept restricted stock, to most recently our transfer agent. We successfully discharged our custodian in 2017, now we are working through our transfer agent issues by terminating our former agent and hiring Pacific Stock Transfer Company,” explained CEO Daniel A. Goldin. JTBK is in the process of transferring a tier 1 marijuana producer’s license to its Hillsboro, OR location. The location is a leased space which is 8,400 sq ft. “Due to the transfer agent issues, we have fallen behind on our lease obligations in Hillsboro, along with not being able to execute on the purchase and transfer of a marijuana processors license,” explained Mr. Goldin. In addition, JTBK has restated its articles of incorporation and is in the process of filing the restated articles with Nevada SOS. The articles state, no corporate actions that involve but not limited to stock structure, splits, subscription agreements, dividends, employee compensation must be approved by majority shareholder vote or written consent by majority shareholders. The Board cannot take action without shareholder approval. JTBK has one class of shares, which are common stock with each share receiving one vote. The company has capped the authorized share count to not be increased in the future. The authorized share count can be amended but would require majority shareholder consent. “I believe for investors, it’s very important for them to feel they will not be diluted without majority approval of shareholders,” stated Mr. Goldin. “Our goal is to use the remaining shares that we have authorized thoughtfully and use the proceeds from any subscription agreements thoughtfully as well. We are no...