Management Buys $250,000 of Common Restricted Shares at Current Market Price
(firmenpresse) - DUBAI, UNITED ARAB EMIRATES -- (Marketwired) -- 06/16/16 -- (OTCQB: GEQU) and its fully-owned subsidiaries ("GEP" - ) a specialist consultancy firm with offices located in Dubai and London, would like to announce that management, Mr. Peter J. Smith (CEO), Mr. Enzo Taddei (CFO) and Mr. Patrick V. Dolan (Managing Director) have jointly decided that it would be in the best interest of the Company to convert $250,000 of outstanding accrued salaries to common restricted shares at $0.02 per share. At the Board Meeting held on June 15, 2016, all board members voted unanimously in favor of carrying out this conversion and subsequent reduction of debt.
Prior to this date, on May 31, 2016, both the Company''s CEO and CFO converted $27,500 each of accrued salary into common restricted shares at $0.0275 per shares.
In August of 2015, the Company finally rid itself of all toxic convertible debt and since then management has worked extremely hard to clean up the Company''s balance sheet and show profitability. The Company''s reviewed and fully audited financial statements reported to the SEC over the last 4 quarters have shown growth and expansion.
The Company''s current share structure is now as follows:
"It makes complete sense to perform these conversions when the stock is trading at the price it is. The conversions for us represent an excellent way of being able to further buy into what we believe is a wonderful company. We are pleased with what we have built and continue to build; and we are very excited with the current growth and developments."
"Personally, I believe that this was positive move. It demonstrates our belief in the Company and its business model. Our shares are restricted under SEC rule 144 so this conversion doesn''t affect our current tradable float. We truly believe that we are at the doorstep of turning our Company into something to be extremely proud of. Our only objective, as management, is to bring value to the Company and its shareholders. The more skin we have in the game, the more motivated we all are to work even harder."
Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centres of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., holds significant long-term equity positions in the companies that it represents.
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management''s own knowledge and assessment of the Company''s industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.
Director and officer of Global Equity International Inc.
Tel. (Dubai) + 971 (0) 42 76 75 76
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Director and officer of Global Equity International Inc.
Tel. (US) + 1 (321) 200-0142
Email:
Managing Director of Global Equity International, Inc.
Tel. (UK) + 44 7917 838762
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Datum: 16.06.2016 - 09:54 Uhr
Sprache: Deutsch
News-ID 1442000
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