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Tuesday, July 30 2013 7:31 AM, EST Enviro-Serv Inc. Announces Executive Management Capital Structure Changes And Implements Corporate Funding Measurures MacReport Media "Press Releases"
Enviro-Serv Inc.(OTC Pink: EVSV)Enviro- Serv Inc. (ESI)is pleased to announcecorporate capital restructuring and corporate funding measures put into place.
Chris Trina , Chairman and CEO stated,I am pleased to announce today that myself and our board of directors have retired 643,261,378 shares of class A common stock of the current outstanding total of 947,084,477 class A common stock or about 70%. As of today our total issued and outstanding class A common shares is 303,823,099 with a total float of 146,592,291. Managements retired stock was replaced with Class A Preferred stock. We felt this was extremely necessary to better reflect managements long term goals and to increase shareholder value. Mr. Trina goes on to state, We have new classes of preferred stock being issued for management holdings, mergers and/or acquisitions and future funding.Preferred stock is restricted for one year and will have different classes such as A, B, C etc. Preferred stock availability is critical at this stage forth is company to move forward in its game plan. We have working diligently as stated in our previous announcements to corporately restructure which greatly benefits our shareholder base and should positively impact and increase our stock valuation as well.
Regarding capital funding measures Mr. Trina states this, On Monday July 15 the filed a 504 registration with the SECallowing us to raise capital with accredited investors and institutions of up to one million dollars . We have needs like most young companies to raise additional capital to execute our corporate business plan and to achieve our overall goals.In my opinion this is the most suitable method at this juncture to raise capital.
We are currently in serious discussions with numerous entities on the merger and acquisition side in which capital must be raised to land these potential targets. We have successfully raised $30,000 thus far which reflects in the above stated equity structure.Investors will have multiple choices of investment vehicles of which to fund Enviro-Serv to include; equity,debt and/or convertible notes and preferred stock.Trina ended his statement by exclaiming,
There has been zero insider selling to date and I dont expect any in the foreseeable future as we are all committed to the long haul. Our stock has been extremely oversold in my opinion and this new equity structure along with these retired shares should help bring back our stock price to a more fair market value and help to increase overall shareholder value in the short term.