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 management has full control. Mr. Clark asserted, “In my opinion, further fact-less promotion of this sort could be viewed as libelous or slanderous; especially if the attacks are baseless, unfounded rants intentionally spewed out in order to cause controversy, to damage people’s confidence in new management, or to impede the Company’s progress.”
Mr. Clark continued, “We understood that taking over an old company without changing the name might confuse some people, but we really liked the name. It fits our business plans. Therefore, we thought it best to keep the name and not reverse the stock. We did this so that old shareholders might have potential for what they may have thought was a total lost; and, we wanted new shareholders to share our vision. Its taken an inordinate amount of work, but we believe that we have repositioned everything so that the Company could start anew. The Directors were appointed on merit, because of their background and potential benefit to the Company. With the notes being restructured and with the departure of Matt Palmer, unfounded fears of old management’s influence or a potential toxic stock structure has been neutralized. These adjustments, coupled with newly announced plans for an acquisition, positions the Company to become more than an empty shell with a hopeful story.”
New management now has history of its own based in persistence. Through its diligent efforts, all requirement of the OTC were satisfied and the caveat emptor was removed, thus NRPI became a current reporting company. However, this week a warning and yield sign were placed on the company due to an omission in its 2019 Q2 filing. The OTC has been contacted and the omission will be remedied after vacation season is over so that the symbol can again have a green light in trading.
NRP Stone, Inc. is engaged in marketing and distribution of unique precious metals and gems. US OTC symbol: NRPI; CUSIP: 62940J200. Follow us on Twitter @NRPSTONE and at http://nrpstone.co.
Disclosures and Caution Concerning Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, economic and market factors, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company, its management, or affiliates, undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.