Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Grid Petroleum Announces Annual Shareholder Meeting
GRPR Reverse Split Is Postponed: Statement From the CEO
GRASS VALLEY, CA -- (Marketwired) -- 04/01/16 -- Grid Petroleum Corp. (OTC PINK: GRPR) announces today that the Annual Shareholder Meeting is scheduled for June 15, 2016. On March 10, 2016 Grid Petroleum Corp. appointed Robert Stillwaugh as its new Chairman, Gary Tilden as the Chief Executive Officer and Mike Schatz as the Chief Operations Officer as a part of acquiring the assets of RJM and Associates LLC, and pursuant to the Form 8-K filed on March 10, 2016. RJM and Associates, LLC has developed, manufactures, markets and owns proprietary advanced broadcast equipment and software and sells this audio and video broadcast equipment worldwide. These systems have been sold worldwide over the past 15 years with end-users such as CBS, FOX, NBC, ESPN, ABC and DirecTV. On March 25, 2016 Grid Petroleum changed its name to Simlatus Corporation with the State of Nevada, Secretary of State.
Gary B. Tilden, CEO of Grid Petroleum stated, "Although the company filed a Press Release and an administrative action with the State of Nevada regarding a 1 for 500 reverse split, I am postponing the 1:500 reverse split. Management has discussed certain objectives related to turning around the past perception of Grid Petroleum based upon the belief that our actions must be guided by specific principals that must preserve and strengthen the quality of the public confidence in our company. Therefore, we have taken the initiative on direct actions to establish value in the company and with all of the shareholders. One of the most important contributing factors to establishing the financial health of our company is Shareholder participation. Therefore prior to initiating a reverse split or any capital restructuring for that matter, we plan to allow Shareholder participation in the following manner:
On May 5, 2016, the Company will mail out our Annual Proxy to all shareholders of record and to shareholders holding shares in 'street name.' We are providing all shareholders the ability to vote on corporate matters. The Annual Proxy will address the following items:
1.) Shareholder vote on the appointment of the full Board of Directors. We are actively soliciting two well qualified director nominees to add to the proxy to become Independent/ Outside Directors to the Board of Directors.
2.) Establish members for an Audit and Executive Compensation Commitment so that over the next year the Company can begin establishing proper financial controls and reviewing executive compensation.
3.) Shareholders will have the right to vote on the capital restructuring. Management will not execute any roll back of shares until the proxies have been received. All of the Shareholders will have the right to vote and attend the Annual Shareholders Meeting.
June 6, 2016 is the due date for the Annual Proxy so that the Company can perform the required tabulation.
On June 15, 2016 at 1:30 PM PST Grid Petroleum will hold its Annual Shareholder Meeting in the company's headquarters located 175 Joerschke Drive, Suite A, Grass Valley, CA 95945. During our Annual Shareholder Meeting our management will present the Annual Budget addressing the capital formation, capital requirements, expected dilution, discuss management's effort towards restructure of the toxic debt left from previous management, current revenue of operations and potential growth over the next twelve months. If any shareholders would like a tour of our current operation prior to the shareholders meeting please email us at info@gridpetro.com. We will also be conducting a shareholder tour of the operations beginning at 12:30 PM, however the question and answer period will be held during the annual shareholders meeting."
Mr. Tilden further stated that "Simlatus Corporation is an emerging company focused upon being a leader in the $150 Billion 'Augmented and Virtual Reality Device Industry'. Simlatus is positioned with R&D digital media/augmented reality products currently in development to develop a strategic technology roadmap which will enable the company to expand into high-growth digital television and over-the-top (OTT) markets. These products are being developed to a market segment presently being strongly embraced by our existing consumers. The Industry forecasts, by widely recognized tech companies in the world, are becoming a $150 Billion dollar market in the very near future. Simlatus' new products will include SyncPal, 'SocialCast AR,' Augmented Reality, and Virtual Reality Content Server products for major markets. The target technologies include Virtual Reality, Augmented Reality, Audio/Video Codecs, Audio Content Recognition, and OTT API Integration into Key Platforms. The Market Analysis and IP Portfolio will include new patents specifically developed for these products and owned by the Company.
Further, GRPR has existing revenues as a part of the Asset Purchase Agreement and continues to sell products to its 75 distributors worldwide to end users such as CBS, NBC, ABC, ESPN, FOX and DirecTV. You can visit our product website at www.rjmandassociates.com. The Company is currently building a Simlatus Corporation website which will be functioning in the near future."
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
Investors:
Gary B. Tilden
Chief Executive Officer
Grid Petroleum Corp.
(800) 390-8446
info@gridpetro.com
Source: Grid Petroleum Corp.
Today's Conference Call Replay:
http://ir.elitepharma.com/events_presentations
yea right..he was simply clearing his throat.
I still think we'll see this come alive in the next several weeks. I believe JO won't let this ship sink and is still working on details. I'd love to see a juicy PR soon like everyone here, and I believe our patience will be rewarded. Hoping all will enjoy their Thanksgiving.
His email address is still good. jrojr@usa.net
Sorry, old filing
Can't wait to see what happens when JO drops the news on us.
IMHO
MM's are hiding shares at 0006.
only 6 mil between here and .25...c'mon NEWS.
Thin for sure, only a milly and change left at .0005.
I smell news..
I think you're right. I believe John is working hard at getting the financing done right, so I'm just sitting tight too.
I believe that "On June 29, 2015 Scepter Holdings, inc. entered into a Non- Binding Term Sheet Belfleur Inc. to acquire an interest in a 90 megawatt solar power project Located in South Africa." was poorly edited, and they meant to say that Scepter and Belfleur entered into a non-binding term sheet. Here I found the definition for that word, http://www.investopedia.com/terms/t/termsheet.asp.
I don't know anything about the relationships of any of the Kersters except for what I've read about here from some of the other posts.
Another clue perhaps to follow up on?
http://www.nasdaq.com/markets/ipos/company/belfleur-inc-79815-10348
http://www.secinfo.com/$/SEC/Name.asp?X=inge+l.e.+kerster
in process, imo
Acquiring non-toxic financing for a company with sub-penny stock must be harder than I first thought. I'm sure John is working to find the best deal.
Now would be a great time for John to announce that his solar SIPs will soon start production, he could piggyback off the news from Tesla about the commercialization of energy storage from solar panels.
http://www.washingtonpost.com/news/energy-environment/wp/2015/04/30/why-teslas-announcement-could-be-such-a-big-deal/
Will Friday be our newsday? Can't wait for production..
http://www.solarnovus.com/gold-river-forecasts-30-million-revenue-per-month-from-aeroquest-solar-roof-system_N2515.html
Looking forward to it.
thanks monda2frida, I appreciate it. Anybody have any word from JO yet as to progress?
What's up with iHub today?
Right on the money...Exclusive products, green technology, no toxic debt, great CEO, connections to Composite Pacifico's design and manufacturing team and the list goes on and on.
Agreed, and I'm thinking JO has already been looking at properties/locations in the Phoenix area for the relocation.
I see that the Composite Pacifico website has been recently updated with some new info. http://www.compositepacifico.com/
Good to hear talks are progressing JO. We appreciate the comments.
good news to have out for Friday trading.
nicely done John.
I thought I'd share an answer to a question I asked of Mr. Ohlin last month. I believe his answer speaks volumes to his committment to the future of GRPS.
Dear Mr. XXXX, at the present time no discussions have been undertaken to do a
reverse merger with Composite Pacifico. As CEO my first responsibility is to the
health and well being of the company and then to the shareholders; without the
former there is little need for the later. I say this to say that I have to
view every opportunity with the eye towards affecting growth and profitability
which enhances shareholder value and should such an occurrence take place it
will be done as that is in the best interest of the long term growth of the
company and shareholder value. No CEO likes to be painted into a corner so I
can't say yes we will or no we won't, I can only affirm that no such
discussions have taken place yet and none are currently planned.
Kind regards,
John Ohlin
President/CEO
GRPS
Me thanks you too. That's info I like to hear.
I expect to see it increase when John get the financing in place and PR'd.
Shares for sale at bargain prices..I'm really suprised these dipped this low after the CEO's update on the website about the financing this past week. Something that important would've been nice in a PR. Oh well, just more time for us to build better positions at good prices.
Agreed.
Go BRZL!
Tomorrow may get interesting...
Go $GRPS
I've got a feeling you're right about that. We may hear very soon.
Did you see the ceo'so update on financing news posted today?
Great find. I hadn'the checked the website today yet, so thank you. This is just what we needed.
That wouldn't be as bad as Tim D's other company FORC that had a 1:100 RS while he was there.
I agree. Inquiring minds want to know. Hoping that news is soon.
Isn't that the truth jim. I'm amazed that you can use these sips for floors,ceilings interior and exterior walls. You can even apply stone,brick or stucco directly on them too.