Olie Adds to 2014 Action Plan by Rolling Up Audited Pink Sheet & OTCQB Issuers
December 23 2013 - 7:05AM
Olie Inc. (OTCQB:OLIE) (Olie) President, Robert Gardner, announces
an emphasis in its 2014 Action Plan. In summary:
1) Olie purchases aged non-affiliate debt;
2) provides corporate advisory services, including corporate
restructuring of client issuers;
3) consolidates compounding derivative liabilities;
4) issues stock dividends subject to FINRA approval;
5) retains PCAOB accounting firms to complete audits on
pink sheet companies;
And now:
6) Olie will seek to acquire the issuers & their
shareholder base as wholly owned subsidiaries, in exchange for
anti-dilutive convertible preferred stock and management
appointments within Olie.
Robert Gardner, President of Olie states, "The inherent value to
the shareholders of Olie is that the shareholder base expands
demonstrably as new companies are acquired. These companies will be
audited, with low debt to equity ratios, and cash and/or assets on
their own balance sheets. Olie's accounting team in conjunction
with its auditors will file Condensed Consolidated Financial
Statements. In this manner we plan to accelerate net stockholders'
equity."
William White, CEO of Hi Score Corporation, (OTC PINK:HSCO) a
planned subsidiary of Olie states, "We believe that domestic
Pink Sheet companies need to become SEC filers; the inherent
problem for many small companies is they don't have enough money to
run their companies, pay for audits & properly
disclose. The opportunity to join something larger than
ourselves like Olie and retain ownership, without continuing large
overhead costs of remaining a fully reporting issuer, is extremely
attractive. The Pink Sheets, private companies or OTCQB issuers
that become wholly owned subsidiaries, continue to own their own
assets exclusively, because each company is acquired with its own
class of convertible preferred stock. This opens the door for
subsidiaries to acquire their own value & equity, using subsets
of just their class of convertible preferred stock, without
incurring the costs of consolidating the value on separate
financial statements."
Safe Harbor Statement:
This release may include "forward looking statements" within the
meaning of Section 27 A of the Securities Act 1933 as amended, and
Section 21 E and /or 27 E of the Securities Exchange Act of 1934,
that are based on assumptions that in the future are inherently
uncertain, may prove not to be accurate, and are subject to
significant risks and uncertainties. These include, but are
not limited to statements as to the future performance of the
company, its ability to raise necessary financing, and other
general economic risks and uncertainties.
CONTACT: Robert C. Gardner, President
Phone: 604 669-9000
E-mail: robertgardner@olieinc.ca
Website: www.olietech.com