PRPM news update
Protek / Luxuriant Holdings Announces an Open Letter to Shareholders.
Cheyenne, WY – March 19th, 2014. Protek / Luxuriant (OTC PK PRPM) (“the company”) announces today an Open Letter to Shareholders.
Dear Shareholders,
We are fast approaching closing the second month into the launch of our new business plan. Many things have been accomplished in a very short time period. I would like to take this opportunity to inform all of you about some changes in the way we will handle public relations and update on the changes to the share structure.
First I would like to reiterate our new focus on growers and supply. This is what the market demands at this time, demand is by far out growing supply so we are adjusting our focus to meet it. This is a logical step from our standpoint from a revenue and a guarantee of stable supply at for our operations. We will continue to fund all other projects already announced, they will just be pushed back slightly to insure we have laid the proper foundation for our model.
Secondly, I would like to address the increase in our shares outstanding as it is an issue that weighs heavily on our shareholders minds. We issued stock to our outstanding pool for the purpose of covering our $5million dollar funding agreement, and to acquire Vortex Waterpipes. The shares were originally scheduled to be issued restricted to our financier for the allotment of funding but after intensive negotiations we were able to secure much better terms by doing a fund as needed package which allows us to secure funds for each project and back with current stock. We will have the option to repay the loans out of future revenue prior to any sale of stock used as collateral. These terms allowed us to gain a much lower interest rate and saved our company and shareholders a great deal of money over time.
Third, reduction of our shares outstanding. I am working diligently to retire a significant amount of our current outstanding share count. This is a tedious process and not something the can be accomplished at the stroke of a pen. I’m receiving a great deal of emails and other correspondence from shareholders whom want to see this done, as do I. I want everyone to understand there is not just a pool of shares laying around that we can send to the shredder. We must repurchase the issued and properly retire to the treasury, complying with a regulations in place. We are very close.
As I stated above we are less than two months into our new business plan. We cast a very large net out of the gate and are now tying up all of the loose ends and preparing for the Big Show in Colorado in April. We are collecting photos and video of all of our new operations and expect to start putting on a very nice presentation to the public next week. We have come such a long way in a very short period of time and are now honing in on the projects that will ensure a solid foundation to meet and exceed our revenue projection for this year and for many years to come.
Thank you all for your support and patience as we execute our plan for success in this exciting new sector.
Luther Jeffries
CEO Protek / Luxuriant Holdings
