NSAV Majority Shareholder Retires 500 Million Shares
Press Release | 05/19/2022
London, England, May 19, 2022 (GLOBE NEWSWIRE) -- Net Savings Link, Inc. (OTC Pink: NSAV), a cryptocurrency, blockchain and digital asset technology company, today announced that its co-majority shareholder, TG Private Equity Inc. (TG), has retired 500 million shares of Series B Preferred Stock that it owned, which is the equivalent of 500 million shares of common stock. The market value of these shares based on yesterday’s closing price is $4,750,000 (USD). The share cancellation was completed by the company’s transfer agent, Pacific Stock Transfer.
NSAV and TG enacted this major share retirement in order to have additional shares available for acquisitions, which management believes will enhance shareholder value and keep dilution to a minimum. NSAV has not issued a single share of common stock in 2022.
NSAV’s strategy is to use its Series B Preferred Stock to make acquisitions and pay salaries. The Series B Preferred Stock is restricted and cannot be sold into the public market or affect the public float for a minimum of two (2) years and therefore, will not dilute the public float or negatively affect the share price during that period. NSAV did recently increase the authorized shares (A/S) for its common stock but has not issued a single share. This move was taken in the rare event that a particular party in an acquisition or deal required common stock as opposed to Series B Preferred Stock. No such scenario has occurred at this time. If any shares of common stock are issued, they would be restricted and cannot be sold into the public market or affect the public float for a minimum of two (2) years and therefore, will not dilute the public float or negatively affect the share price during that period.
Since NSAV changed its business direction and new management took over in early 2021, no officer, director, employee, partner or any other person or entity, has converted its Series B Preferred Stock to Common Stock and therefore did not and could not sell a single share to the public market. This can be evidenced in NSAV’s OTC Markets filings and viewed daily on OTC Markets website.
The Management of NSAV released the following statement, “We would like to sincerely thank our co-majority shareholder, TG Private Equity Inc., for retiring millions of dollars’ worth of NSAV shares. This move will surely give a great deal of confidence to all NSAV shareholders and the market in general, as well as enhance shareholder value.”
NSAV's vision is the establishment of a fully integrated technology company, which provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, financial services, advisory services and information technology.
For further information please contact NSAV at info@nsavholdinginc.com
The NSAV Twitter account can be accessed at https://twitter.com/nsavtech
The NSAV corporate website can be accessed at http://nsavholdinginc.com
The NSAV Centralized Cryptocurrency Exchange (CEX) website can be accessed at https://ex.nsavexchange.com/main
The NSAV CEX Twitter account can be accessed at https://twitter.com/nsavcex
The NSAVDEX 1 Exchange website can be accessed at https://nsavdex.org/#/home
The NSAVDEX 2 Exchange website can be accessed at https://nsavdex.io/
The NSAV NFT Marketplace website can be accessed at https://nsavnft.com/
The NSAV Premium OTC Crypto Trading Desk website can be accessed at https://nsavholdinginc.com/otc-desk/
The NSAV Hong Kong OTC Crypto Trading Desk website can be accessed at https://hkotc.co/
The NSAVDEX Exchange Telegram account can be accessed at https://t.me/NSAVDEXorg
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.
Contact
Net Savings Link, Inc.
info@nsavholdinginc.com
https://www.otcmarkets.com/stock/NSAV/news/NSAV-Majority-Shareholder-Retires-500-Million-Shares?id=358000
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