POMPANO BEACH, Fla.,
March 7, 2014 /PRNewswire/ --
Solpower Corporation (OTCPink:SOCR) today announced that it has
reduced the number of outstanding shares dramatically as the
company refines its share structure and prepares for the release of
it's virtual currency merchant system.
The reduction of shares from well over a hundred million shares
outstanding to just above seventy million shares was accomplished
as part of a re-shuffling of securities meant to maximize the
company's value and get some house cleaning left over from previous
management done once and for all.
Since the company did not shown significant volume in the past
several years, many certificates that were issued to former
officers or partners have been sitting on a shelf collecting dust.
As a result of the recently renewed interest in the company, these
old restricted certificates have been submitted for the removal of
their restrictive legends and a few agreements for issuances never
honored by former management have also resurfaced. As a result, the
float, thus far kept very small, will increase in size a bit, but
only to a small fraction of the outstanding shares. The majority of
outstanding shares are held by insiders, and are therefore limited
in how they can impact the future public float of the company. This
adds a level of comfort to shareholders because insiders must
report proposed sales of any securities and are also limited to how
much they can sell. The changes are expected to be updated on the
OTCMarket within the next day or so.
Company CEO Charles Nienstedt
explained, "I have assured shareholders from the start that I had
no intention to dilute the current structure, and I have held true
to that statement. The increases we are seeing are an unintended,
and unavoidable result of our growing popularity and success.
However, I think the tremendous decrease in the number of
outstanding shares shows a commitment to the shareholders that we
are not interested in anything but creating and building a great
company, and substantial shareholder value."
Aside from the internal advances, the company is making product
advances as well. Virtual currency is quickly growing in
popularity, and Bitcoin is leading the way. Solpower, whose name
will soon be changed officially to Bitcoin Collect, is leading the
way with its newest software system that will make Solpower a full
service bitcoin banking institution. Consumers will be able to
create bitcoin wallets, buy and sell bitcoin, and retailers will be
able to accept bitcoin as payment in a secure and turnkey
environment. The company also has some exciting and incredible
advances under development. Some things being looked at are bitcoin
debit cards, actual physical bitcoin, and other innovations the
company is considering for rapid development and a grab for this
new market share.
About Solpower
Solpower Corporation, soon to be called Bitcoin Collect, Inc.™ owns
and operates a software company that designs innovative solutions
to problems that plague industries globally. Its products include
Medcare Collect™, a healthcare billing system that allows patients
to pay off medical bills over time with no credit check, and
Bitcoin Collect™, a complete virtual currency merchant platform
built around the new Bitcoin currency.
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.
SOURCE Solpower Corporation