HOLBROOK, N.Y., June 4, 2013 /PRNewswire/ -- Northstar
Global Business Services, Inc. (OTCPink: MDIN), today
announced that CEO Nick Chieco did a
short audio interview with thestockradio.com to introduce new
shareholders to the company. The interview can be heard at
thestockradio.com via the following link:
http://www.medgeninc.com/2/.
In the interview, Mr. Chieco describes the company and it's
history, and goals, but the information was geared more towards new
investors than seasoned shareholders and was more of an overview
than an update. The company would like to update shareholders on
several issues including the chill status, the results of its share
buy-back, and current share structure.
The company warns shareholders not to depend on non-secure
information such as message boards, forums, and not to attempt
doing their own math based on previous announcements of goals and
past totals, because there are too many details left out. Only the
company's official PR's and OTC Disclosures stating totals should
be trusted for share totals and structure. As per the last
disclosure document, after the cancellation of 100,000,000 shares
previously owned by insiders, the company had a total of
402,319,415 outstanding with 238,986082 of those in the public
float. Since that time, the company has removed the restrictive
legend of those shares whose owners requested it, and were
eligible; increasing the public float while the number of
outstanding shares remained the same. For the licensing and
partnering regarding new patents, the company has since issued
restricted shares with additional one-year restrictions, and
cancelled an additional 120,000,000 of 153,000,000 acquired in it's
aggressive shares buyback, and insider surrenders. These changes
avoided a huge increase in public shares making the current float
almost unchanged at 269,019,415 with an outstanding of 732,319,415.
The company points out that with just about all previously issued
restricted shares gone, the current float is at it's ceiling and
can only go down from here for at least the next 2 years. Another
important fact is that the company issued 2 million preferred
Series A shares last quarter to company CEO Nick Chieco which hold super-voting rights, so
that the current board of directors still holds 90% of the
controlling votes of the company without need to issue securities
to maintain ownership. Northstar also adds that it holds 33 million
shares of the current float in the company treasury after the above
cancellations, and will continue to buyback shares with a goal of
an additional 80 million shares yet to be acquired.
Company CEO, Nick Chieco added,
"I have been getting a ton of questions about the buyback and
current share structure and it is great to have these questions put
to rest. There are a lot of people who try to do some quick math
with only a tiny bit of the information causing a lot of
misinformation to be spread around. I think where we are right now
is actually a very good place for the success we are having, and it
will only get better. With confidence very high that the DTCC will
lift our chill order any day now, and our accountants working very
hard to finish audits that will allow us to list on a market tier
that is higher, there's no doubt in my mind that our real value as
a company will be indicated by our share price and revenues, and
not by the opinions, or trading habits of a few." Chieco adds that
the company is finally on the cusp of retailer rollout, and that
revenues are at an all time high, and expected to far exceed last
quarter's numbers.
About Northstar
Northstar Global Business Services is dedicated to producing the
best alternative healthcare products. The most popular products
Northstar's sells are Snorenz©, a patented spray for snoring
relief, Stem-Intense, a unique stem cell replacement therapy
supplement, and Health-Enrich for pets, an exciting new supplement
that promotes pet health and can help relieve many problems
experienced by aging pets. Most of the company's products use a
proprietary or patented formula, spray delivery system, or
ingredients, and have received very positive consumer reviews all
over the world, selling millions of units from 1996 to the present.
For more information please call Jennifer at 877-571-4387 or email
investor@northstarbb.com.
DISCLAIMER
This Press Release may contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The Company has tried, whenever possible, to
identify these forward-looking statements using words such as
"anticipates," "believes," "estimates," "expects," "plans,"
"intends," "potential" and similar expressions. These statements
reflect the Company's current beliefs and are based upon
information currently available to it. Accordingly, such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause the Company's
actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. The Company
undertakes no obligation to update or advise in the event of any
change, addition or alteration to the information catered in this
Press Release including such forward-looking statements.
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SOURCE Northstar Global Business Services, Inc.