Greene Concepts Announces 284 Million Common Stock Shares Rescinded to Improve Corporate Share Structure
Marion, North Carolina--(Newsfile Corp. - November 5, 2020) - Greene Concepts Inc. (OTC Pink: INKW) is excited to report its Board of Directors has authorized the retirement of 284,516,225 of the Company's common stock shares having received final approval as of November 4, 2020 and confirmation from its Transfer Agent, Pacific Stock Transfer for the reduction in the total number of shares outstanding.
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As reported on the OTC Markets' INKW Security Details Page, Greene Concepts outstanding shares total 1,459,183,740 before the common stock share reduction. The new total of 1,174,667,515 results in a common stock decrease of 19.5%.
Lenny Greene, CEO of Greene Concepts notes, "Today's announcement significantly strengthens our capital structure with over 284 million shares being retired. By canceling such a large amount of our outstanding common shares, we demonstrate our ongoing commitment to improve the investment value of our company's stock while at the same time growing our business. This improves our corporate health and goes a long way to help protect the interest of our many long-term shareholders and helps to maximize shareholder value. As the company becomes more profitable this common stock reduction will have an even stronger positive effect on a per share earnings basis and therefore be extremely beneficial long-term to both the company and to our shareholders."
About Greene Concepts, Inc., Mammoth Ventures, Inc. and Water Club, Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company. Through its recently acquired wholly owned subsidiary, Mammoth Ventures Inc., the Company has entered the specialty beverage and bottling business and is an emerging leader in the global scientifically formulated beverage industry. Through its subsidiary, Water Club, Inc. we intend to pursue subscription-based delivery of water and scientifically formulated beverages directly to the consumers home and market the convenience of this service through social media affiliate marketing partners.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Greene Concepts, Inc.
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