Business
Convertible Notes Extinguished and Director Matt Palmer Resigns
Convertible Notes Extinguished and Director Matt Palmer Resigns.
About this update from Nrp Stone, Inc.
[{"type":"text","content":"Thursday, August 22, 2019, Draper, Utah. NRP Stone, Inc. is pleased to announce that David Clark, a consultant to the Company and advisor to management, has made another bold move. This past year, he returned 305 million shares of his stock to the Company in order to make it easier for the Company to conduct its business. Now, Mr. Clark has voluntarily resolved to extinguish his Convertible Promissory Notes and replace them with simple interest bearing promissory notes. Mr. Clark remarked, “I elected to do this in order to quash any further criticisms that the Company has a toxic stock structure that could potentially put the stock in a proverbial death spiral. That was never my intent by default or by design. In fact, it was a long-time enemy of old management and frequent criticizer who brought this potentially harmful threat to our attention. He helped us identify and nullify the misconception. Management understands its fiduciary responsibility to its investors, private and public, and has no intention of betraying that trust.”NRP Stone also announced the resignation of Matt Palmer, a relative of the old management, who was independently interviewed and appointed as a Director and Secretary/Treasurer of the Company. He was chosen because of his background and skillset in the diamond and jewelry industry, thusly making him was a good fit in fulfilling Company objectives. The Chairman, David Clark, II, accepted his resignation. Mr. Palmer indicated that he has closed his business and will be moving out-of-state to pursue other interests. We wish him well in his future endeavors. In one respect, this may seem unfortunate for the Company, but it resolves another criticism that somehow old management has undo influence on new management and Company decisions. NRP Stone clarified and reaffirmed its intention to fulfill its Mission and Vision in providing unique products and creating profitability for all interested stakeholders. In July, the Company announced that old controlling management including the Davy and Blum families “sold their interests in the Company to new unaffiliated management.” To quash any further rumors and disinformation promoted by some who may still have ill feelings toward prior management, the Company reiterates that old management is no longer associated with the Company and new unaffiliated man...