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New Wave Holdings, Inc. Confirms No Reverse Split, No Toxic Debt, No Toxic Financing and Reduction of Over $100k in Liabilities Toward Building Shareholder Value
New Wave Holdings, Inc. Confirms No Reverse Split, No Toxic Debt, No Toxic Financing and Reduction of Over $100k in Liabilities Toward Building Shareholder Value.
About this update from Pao Group, Inc.
[{"type":"text","content":"\n \n \n New Wave Holdings, Inc. Confirms No Reverse Split, No Toxic Debt, No Toxic Financing and Reduction of Over $100k in Liabilities Toward Building Shareholder Value\n \n \nNew Wave Holdings, Inc. Confirms No Reverse Split, No Toxic Debt, No Toxic Financing and Reduction of Over $100k in Liabilities Toward Building Shareholder Value\n \n LAS VEGAS, NV--(Marketwired - Sep 10, 2015) - New Wave Holdings, Inc. (OTC: NWAV) is pleased to release the following information in regards to share structure, financing and overall shareholder value as management prepares for the imminent launch of SchoolFuel. \n SchoolFuel is described as \"scrip on steroids\" and streamlines existing scrip provider platforms that have generated over $9 billion in retail sales and nearly half a billion dollars donated to schools since inception. \n \"First and foremost,\" states CEO Mark B. Newbauer, \"there will be no reverse split on the stock. The Company restructured in December of 2014 to clean up a bloated share structure that existed years before New Wave. It was time. The last reverse split before that was nearly 8 years ago.\" \n \"Currently, the Company has 985,000,000 authorized shares and 582,183,464 outstanding shares. Of those outstanding shares, 350,000,000 are affiliate restricted as of July 2015, and there are only 232,183,464 in the float.\"\n \"Secondly, we are thrilled to announce that a note holder has forgiven $178,972.50 in debt owed by the Company to support New Wave's growth initiatives and strengthen its overall financial overview. $50,000 of this was reported on our Q3 and the remainder will be noted in Q4. The forgiveness of debt was offered unsolicited and without reason other than the debt holder wished to support the Company's long-term objectives and had great confidence in what could be achieved with its SchoolFuel program.\"\n \"Also, it's crucial to note that New Wave, nor its subsidiaries, is not bound to, nor will we be engaging with, toxic financing of any kind. Our debt holders are friendly third parties that believe in the company and its objectives. Our investors are private individuals that support our endeavors and see tremendous upside in terms of risk vs. reward due to the potential the SchoolFuel program, alongside long-term objectives for the company as a holder of compelli...