Business
CSE Adds Board Member
CSE Adds Board Member.
About this update from Pwrcor, Inc.
[{"type":"text","content":"\n\n NEW YORK, Jan. 31, 2017 (GLOBE NEWSWIRE) -- Receivable Acquisition & Management Corporation (OTCQB:CSEI) d/b/a Cornerstone Sustainable Energy (“CSE”), headquartered in New York City, elected an additional member to its Board of Directors at its recent shareholders meeting in New York City.  All of the matters presented by management to the shareholders for the meeting held January 20 were approved by large margins. \n “We are pleased to announce the addition of Monirul Hoque to our Board of Directors,” stated Tom Telegades, CEO.  “Mr. Hoque is an independent director who brings a wealth of experience to the Company in the areas of financial planning, investment banking, and business strategy.  His educational background in Electrical Engineering and Physics also adds a valuable technical dimension to the Board.” “The opportunity for this Company’s technology for converting low-grade heat into power has enormous potential, and I am pleased to join the team that is moving the Company and the technology forward,” noted Mr. Hoque after the shareholder meeting.  “I look forward to applying my background and experience to helping the business achieve major success in key industrial verticals both locally and internationally.” Among the matters approved by shareholders was the proposal to change the name of the Company from Receivable Acquisition & Management Corporation to PwrCor, Inc.  The use of Cornerstone Sustainable Energy and the CSE abbreviation and symbol would also be discontinued.  \"The new name – PwrCor, Inc. – allows us to emphasize  our business objective to commercialize our disruptive energy conversion technology, branded PwrCorTM, and establish a recognizable position in the marketplace,” said Mr.Telegades.  The shareholders also approved a reverse stock split expected to be in the ratio of one for six shares currently outstanding.  An announcement will be issued when the corporate name and trading symbol change, and a stock split is officially made.  Subsequent to the shareholder meeting, on January 24, the Company filed a Form 8-K with the SEC that provides additional relevant information. About Mr. Hoque MONIRUL HOQUE has over 20 years of experience with global fina...