Business
MC Endeavors, Inc. /Room 21 Media Announces Planned Retirement of Common and Preferred Shares
MC Endeavors, Inc. /Room 21 Media Announces Planned Retirement of Common and Preferred Shares.
About this update from Mc Endeavors, Inc.
[{"type":"text","content":"\n DANA POINT, CA, Aug. 20, 2019 (GLOBE NEWSWIRE) -- MC Endeavors, Inc. /Room 21 Media (PINKSHEETS: MSMY) announces today that agreements have been signed for the return to the Company of over 50 million shares of MC Endeavors, Inc. Common stock and 20 Million Series A Convertible Preferred Stock which if converted would have represented a combined total of 251,336,885 Million Common Shares. The company has already forwarded the certificates to the Transfer Agent to cancel the shares. Mr. John Stippick, CEO, states, “After vigorous negotiation, we are pleased to have been able to resolve this issue without a long, drawn out legal process. The cancellation of the shares go a long way to help protect the interest of the many long-term shareholders,” concludes Mr. Stippick. With the retirement of these shares, this equates to a reduction of approximately 7.5% of our current common outstanding shares and 100% of the Preferred Shares are back in the Treasury. Mr. Stippick added, “Our focus now turns to the completion of the remaining steps for of our audit and upcoming acquisitions. We anticipate the audit task to be completed in the coming weeks, at which time we will begin finalizing paperwork to close on the first of our many planned acquisitions. Thank you to all shareholders for your patience and continued support throughout this process.”  About MC Endeavors, Inc. /Room 21 Media MC Endeavors, Inc. (OTC Pink: MSMY), an innovator in social commerce platforms, is committed to becoming a leading global social video commerce company that utilizes a single core platform, Room 21™, to produce, distribute, and monetize online communities for individuals and businesses that interact with industries ranging from industrial business to healthcare to entertainment. Safe Harbor Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assu...