GNGR Website Update 02/20/15
Friday February 20, 2015
Yesterday the first 200,000,000 of 300,000,000 shares have been removed from the issued stock.
The shares issued will now be 993,812,911
when the next cert of 100,000,000 in removed from the issued next week
The shares issued will be 883,812,911
I currently own 600,000,000 shares as the CEO (to the dislike of many) to retain control of GNGR, I recently have been offered a 6 figure cash price for my stock in GNGR from a company that is looking to go public. This company once controlling GNGR's voting shares would than vote me out and what happens after that would be out of my control. I would not be a share holder in GNGR or have any administrative position. Because I believe that this company who made the offer would in fact cancel all GNGR shares to reverse merge, I declined the offer for moral and legal reasons. 1) I would not do that to my share holders and 2) because I could be sued for selling out.
I have an alternative that may benefit everyone and I use MAY very cautiously. If I also cancil my shares (all 600,000,000) the new issued would be 283,812,911 with 108,553,765 in the tradable float. I would no longer own any shares in GNGR.
This would allow the company to use what they would have paid me for my shares to purchase the controlling shares from the tradable float. They would also have to offer to purchase from the issued but restricted shares that make up the shares issued not in the float any or all of those shares needed to own 51% of the issued.
This seems to be best for GNGR being that with very limited share holder support and the constant resentment that I the CEO had so many shares (again to retain control) that this is best for everyone. Weather or not the new company intends to keep existing share holders as share holders will be at their discretion. I am not selling my shares I would be just reducing the current issued be 600,000,000 which is also what everyone seems to think is best.
What ever happens after the 600,000,000 reduction, will not be by my decisions or actions. If the new company wants to remain in some sort of production or similar markets I would entertain a salaried position with no executive decision making. I started GNGR in 2008 and as of today February 20th 2015 I have never ONCE taken a paycheck and have never reaped any significant financial rewards either. My position was always that I win only if shareholders win first.
I will be discussing this with my counsel to make sure that relieving all my shares from issued will hold me harmless to what ever happens after I choose to take this action. My first reasons are to reduce the float as many have been emailing be about dilution over and over again week after week SO here it is the reduced issued means reversed dilution.
Just everyone remember that when this was like this years ago, there was not enough shares trading and everyone kept saying "we need shares in the float to create liquidity" so I did and then the same people started saying "dilution". Now that will be up to the new CEO as to what to do.
I will be updating the PINK data to reflect the new reduction and as soon as the other 100,000,000 is removed I will do the same. I will than decide how to remove myself from any ownership of GNGR and how to make sure I do it legally.
Grant
