American Green Board of Directors
Orders Massive Reduction in Authorized Shares
PHOENIX, AZ -- March 31, 2020 -- InvestorsHub NewsWire --
Today, American
Green’s (ERBB:OTC)
Board of Directors voted unanimously this past week to reduce the
company’s authorized shares and it was ratified with a shareholder
consent having a majority of the shareholder votes. Prior to
ERBB’s restructuring that took place during Q4/19, there were
120,000,000,000 (120 Billion) authorized shares. Last week,
the Board of Directors voted to reduce that amount to 975,000,000
(975 million). Says David Gwyther, American Green president,
“It was the company’s intention to reduce the authorized shares at
the same time American Green restructured its outstanding shares
last year. The Board of Directors felt it was time to make
that happen now by voting to lower the authorized shares and having
the reduction ratified by majority consent.”
Continued Mr. Gwyther, “Now that American Green is moving out of
the development stages for most of its active enterprises, I
believe the company will be relying less and less on capital coming
in from investors which should reduce its need to issue additional
shares for outside capital. The company may still require
additional capital for expansions and acquisitions, but because of
our growing revenues, the company believes that such additional
capital should be on more beneficial terms to the company.”
Explanation of American Green’s Shareholder
Count
As of the company’s last filing, the company lists 436
“shareholders of record.” This count is confusing to many
shareholders I have spoken with, so I will try to explain.
One of the 436 shareholders is “CEDE & Co.” CEDE holds ALL the
shares for almost all the brokerage firms in America but it is only
counted as ONE shareholder for the purposes of our financial
report. When American Green held its last shareholder
meeting, the company was required to notice all shareholders
including those holding shares through brokerage firms.
Only one company in America that we know of can reach out to
each brokerage company and receive the names and addresses of every
ERBB shareholder. That company’s name is Broadridge.
American Green hired Broadridge to do just that, and at the time
just prior to American Green’s shareholder meeting in December
2017, Broadridge reported that ERBB needed to notify 85,802
separate ERBB shareholders. The company has to pay Broadridge
according to the number of notifications it must send out, so
American Green’s president, David Gwyther, asked Broadridge to
re-check that number. Broadridge ran the data again and came
up with the same number, and it was only then that management
realized that American Green was the largest (in shareholders) of
any other public company in its sector. Broadridge has a long
history of accuracy and that is why American Green is confident in
characterizing its shareholder count today as “over 50,000,” and
why the “shareholders of record” in our financial statements lists
only 436. As further proof of its numbers, American Green has
over 20,000 opt-in combined subscribers to its very popular Email
Alert feature meant to keep its shareholders up to date one or two
times a month. The Company encourages all share- and
interest-holders to subscribe by clicking the link on the paragraph
below.
Please consider subscribing to
the American Green CBD Store Weekly
Deals where we hand-select a collection of CBD products
that have been marked down 20-75% with deals resetting every
Friday). American Green shareholders receive a 20%
discount (see below) and we securely process all
credit card sales in the US which has become an extremely valuable
security feature in the CBD sector.
American Green’s Online Store Update During Our Trying
Times
Our team is happy to report that despite a large influx in
demand over the last month, we have been able to sustain our
operations without any major issues or delays.
According to Kevin Davis, American Green’s VP of Online World
Sales, “To clarify, we have been successful in maintaining our
manufacturing, fulfillment and expansion, while continuing our
dedicated customer service approach. The pandemic has provided us
the opportunity to serve new customers who have important questions
about our products, our company and CBD in general.”
Our goal is to take the time to provide accurate and timely
support for all of the products we sell so our customers can be
empowered to make their purchases with confidence and trust.
We will continue to offer the best products, prices, and customer
service through these uncertain times while searching for more
opportunities to serve our customers in the years to come. Our goal
is to take the time to provide accurate and timely support for
everyone who enters our online store, so that they are confident in
their buying decisions,” concludes Kevin Davis.
American Green CBD Store Resources
Why Shop American Green?
- Free Shipping On All Orders
- Large Selection of Products (over 140 items
and growing)
- 100% USA Made Products
- All Products are THC-FREE (they contain
0.00% THC)
- 20% Discount For Shareholders (promo
code INVESTOR)
- Weekly
Deals (new deals every week)
American Green accepts: Visa, MasterCard, American Express,
Discover, and Diners Club (which are securely processed in the
USA).
Shareholders and interest holders may also stay current
with American Green Updates:
American Green’s Main Website at www.americangreen.com
Twitter: @American__Green (two underscores), or
Facebook: https://www.facebook.com/americangreenusa
Instagram: https://www.instagram.com/americangreenusa/
Instagram: https://www.instagram.com/magicalnipton/
About American Green, Inc.
American Green,
Inc. became, in 2009, America’s second publicly-traded
company in the cannabis industry. American Green now, with its more
than 50,000 individual certified shareholders, has more than any
other company in the cannabis sector, American Green's mission is
to lead the cannabis and premium CBD industry. Leveraging our team
of professionals in cultivation management, manufacturing,
extraction, wholesale, retail, and community outreach, we strive to
develop sustainable initiatives in the cannabis-adjacent and CBD
industries, laser-focused on adding company and shareholder
value.
For more information -
Contact:
American Green, Inc.
Investor Relations
2902 W. Virginia Ave
Phoenix, AZ 85009
480-443-1600 X555
investor@americangreen.com
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, including those
described in the Company's Securities and Exchange Commission
reports and filings. Certain statements contained in this release
that are not historical facts constitute forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, and are intended to be covered by the safe
harbors created by that Act. Reliance should not be placed on
forward-looking statements because they involve unknown risks,
uncertainties and other factors, which may cause actual results,
performance or achievements to differ materially from
those expressed or implied. Forward-looking
statements may identified by words such as
estimates, anticipates, projects, plans, expects, intends,
believes, be should and similar expressions and by the context in
which they are used. Such statements are based upon current
expectations of the Company and speak only as of the date made. The
Company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on
which they are made.
Profile
American Green, Inc.
American Green (PK) (USOTC:ERBB)
Historical Stock Chart
From Aug 2024 to Sep 2024
American Green (PK) (USOTC:ERBB)
Historical Stock Chart
From Sep 2023 to Sep 2024