The increase in authorized shares was undertaken so that the company would have the proper share structure for the execution of inventory purchases, business acquisitions, and capital growth, designed to bring value to the shareholders. The Board of Directors also approved the issuance of 1,200,000,000 of restricted common shares subject to 144 ruling, to Mr. Frank Yglesias CEO and Mr.
Mr. Yglesias CEO stated. "We understand that the shareholder community may be concerned about this increase in our authorized shares. In the end, it is not the authorized that really matters, but the issued and outstanding shares. The company will carefully judge and monitor any increases in the issued and outstanding." In addition, Mr. Yglesias mentioned that, "The ultimate goal of GDHI management is to grow the company's revenue and inventory as quickly as possible. As a public company we strive to be fully transparent and bring value to our shareholders."
SafeHarbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.
SOURCE Golden Dragon Holdings, Inc.