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LEEP - LEEP, Inc. Announces Shareholders Vote to Increase Authorized Shares7/8/03
CHICAGO, Jul 8, 2003 /PRNewswire-FirstCall via COMTEX/ --
Leading Edge Earth Products, Inc., (LEEP), (Pink Sheets: LEEP), received a majority vote from its shareholders passing a Resolution to increase its authorized common shares from 100,000,000 to 250,000,000 shares and its preferred stock authorization from 10,000,000 to 50,000,000 shares. With the increased shares available, LEEP can now move ahead to complete its structured $26.4 million financing (Credit Facility). The company plans to obtain its Secured Credit Facility by the end of August. At that time the company will be able to expand production capacity in its Pennsylvania plant to service the market until the company's planned full-scale automated manufacturing facility is operational. The primary initial markets consist mainly of modular classroom manufacturers in Florida and California. A full discussion of the funding and markets is available in the company's Executive Summary of its Five Year Business Plan, which can be found on the Leading Edge Earth Products, Inc. web site: http://www.leepinc.com.