GRAPHENE & SOLAR TECHNOLOGIES (OTC: GSTX) FILES $100 MILLION FORM S1 APPLICATION WITH US SECURITIES & EXCHANGE COMMISSION (SEC)
The Board of Directors is pleased to confirm that TroyGould SEC Counsel finalized and filed a GSTX Form S-1 Registration Statement, accepted by the SEC yesterday. The primary intent of the S-1 Is to provide a secure investment exit strategy for incoming bankers to provide the $50 million HPQS production factory financing, as well as to establish the new JV R&D and Graphene-enabled Thin Film Solar production factory.
GSTX traded 171,000 shares on Friday, April 5, 2019, closing up 30%, at $.50 per share.
Therefore, the company management believes the current price per share may be viewed as undervalued.
The release of additional GSTX free trading shares in the market will also help increase the volume and value of GSTX share trading.
The S-1 requests SEC authorization for the company to issue 25 million $4 shares (US$100 million) to assist with funding both the HPQS production factory and the JV Graphene & Solar Research & Development facility.
The S-1 also seeks SEC authority to remove the Reg.144 legend from 9,020,000 existing shareholder GSTX shares for sale.
This will also help to increase the public float of GSTX shares available for trading,
currently indicated at less than 400,000 shares. UPLIFT OTC QX - Company management has also requested TroyGould to file an uplift application for GSTX from the Pink Sheets to trade on OTCQX, also scheduled to be filed this week, following which an extensive new ”Shareholder & Investor Update” will be distributed by your Company.
The GSTX Executive Management have spent the last six months intensely revising and fine-tuning information contained in the Form S-1 to provide answers to all potential SEC queries in advance. Hopefully these efforts will reduce the time frame the SEC requires to review the Form S-1. GSTX share trading has been sparse and minimal since the July 2017 transaction. However, shareholders should be aware that this was largely intentional upon the part SHAREHOLDER UPDATE APRIL 8, 2019 of the Company, as we intended to complete establishing solid foundations, as well as confirm all SEC regulatory compliance before commencing broker and market-maker supported Company promotion. With the filing of the S-1 yesterday, this is now largely completed. Accordingly, many of the plans and support relationships the company has put in place will now be proceeded with. GSTX is in a very strong position, having “fully reporting status” and currently being “fully registered” and “current” with the SEC. The company is also essentially debt free and asset rich, although the Edgar filings do not accurately reflect this position due to SEC strict GAAP accounting requirements. In addition the 10K and 10Q Edgar financials largely reflect the carry forward operational losses and deficiencies of the previous company, Vanguard, for the period 2010 through September 2015, when the company initially ceased operations. Audit requirements state that the financials reflect the operations of the company from its incorporation in 2010- 2015, including the recent operations of GSTX since August 2017, and not only the operational period of GSTX The strict SEC GAAP accounting requirements also require that the original agreed value of $530 million for the asset sale can only be recorded at $30,000, under SEC GAAP accounting requirements. Subsequently based on the agreed value of the silica mineral deposits assets between Vanguard and SQT of $530 million, the realistic, although unacceptable to the SEC, asset backing per share of the total amount of issued outstanding shares of common stock of GSTX, is approximately $2.35 per share. Shareholders should also be aware that the company is prepared to offer existing shareholders significant discounts for the direct purchase of shares.
GRAPHENE – Management would like shareholders to note that although Graphene was generally unknown when we changed the name of the company to “Graphene and Solar Technologies,” in September 2018, even a cursory Google search of the word “Graphene” will overwhelmingly demonstrate the significant impact Graphene has made already, especially in the areas of batteries and high-end electronic applications. MIT has also announced that it has initially developed Graphene Solar panels
SHAREHOLDER UPDATE APRIL 8, 2019 Management believes graphene is still in the very early days of its evolution, and that new graphene development initiatives, currently flooding many traditional industrial markets, will greatly enhance further productivity and operating performance advancements. Please do not hesitate to contact me directly should you require further explanations or information about the company activities and schedule plans.
ROGER MAY PRINCIPAL & MANAGING DIRECTOR GRAPHENE & SOLAR TECHNOLOGIES CORPORATION 88 Lorimer Street, Docklands WELLS FARGO BANK BUILDING Melbourne, 3008 AUSTRALIA Ste 600, 433 N. Camden Drv, Aus Office +61.3.8596.5095 Beverley Hills, CA 90210 USA Aus. Off.(Best)+61.3 5426.4811 Aus Mbl +61.432.798.888 Email: email@example.com & Email: firstname.lastname@example.org Toll Free from US Direct to RM in Australia - USA- 1(800)761-3917 USA Free multi-party Conference Call Local Dial-in 806 344-8744 GSTX owns mineral rights to deposits of High Purity Quartz Sand in Queensland, Australia. The Company plans initially to build a factory to upgrade the minerals to commercial quality for mass sales. Then it will build a second factory to further purify the quartz sand to very high purity suitable as feed stock for Photo Voltaic Solar Cells and high quality silicon computer chips.
Steven M. Powers
VP, Business Development, Secretary