Jetblack Corp. (OTC: JTBK) “the company” has released an update to its operations. JTBK has terminated Empire Stock Transfer as the company transfer agent and hired Pacific Stock Transfer Company as JTBK’s new transfer agent. The company was experiencing communication issues with the previous transfer agent, the company felt it was becoming detrimental to the companies success. JTBK is eager to work with our new transfer agent so we can accept future investments and that the investors will have the ability to lift the restrictions on their stock for resale in the future. “We have had many corporate issues since I became CEO in 2016, from discharging the custodian, finding a broker-dealer to accept restricted stock, to most recently our transfer agent. We successfully discharged our custodian in 2017, now we are working through our transfer agent issues by terminating our former agent and hiring Pacific Stock Transfer Company,” explained CEO Daniel A. Goldin.
JTBK is in the process of transferring a tier 1 marijuana producer’s license to its Hillsboro, OR location. The location is a leased space which is 8,400 sq ft. “Due to the transfer agent issues, we have fallen behind on our lease obligations in Hillsboro, along with not being able to execute on the purchase and transfer of a marijuana processors license,” explained Mr. Goldin.
In addition, JTBK has restated its articles of incorporation and is in the process of filing the restated articles with Nevada SOS. The articles state, no corporate actions that involve but not limited to stock structure, splits, subscription agreements, dividends, employee compensation must be approved by majority shareholder vote or written consent by majority shareholders. The Board cannot take action without shareholder approval. JTBK has one class of shares, which are common stock with each share receiving one vote.
The company has capped the authorized share count to not be increased in the future. The authorized share count can be amended but would require majority shareholder consent. “I believe for investors, it’s very important for them to feel they will not be diluted without majority approval of shareholders,” stated Mr. Goldin. “Our goal is to use the remaining shares that we have authorized thoughtfully and use the proceeds from any subscription agreements thoughtfully as well. We are not looking to raise the authorized share count in the future or if ever,” the CEO explained.
Disclaimer: This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward- looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties include market risks associated with our business, the inability to raise enough capital to complete our business, economic conditions and increasing competition. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Source:
Jetblack Corp. Investor Relations
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IR@JetblackCorp.com