ATLANTA, GA / ACCESSWIRE / December 24, 2015 / GreenParts International, Inc. (OTC: GNPT) filed a 14(c) to increase the amount of shares authorized on December 23, 2015.
Asif Balagam, GreenParts International President, stated, "This authorization increase is integral to our strategic planning for refinancing our current debt structure and further improving our additional vertical market expansions that helped the company to profit in the third quarter. While the Company anticipates only minimal interim issuances to meet current working capital needs, we are principally taking this action to both meet reserve requirements of current note holders, and to create latitude to enable us to continue our vertical activities and expansion by completing several targeted potential acquisitions that we anticipate over the coming year."
Balagam added, "Some shareholders may view this action as a potentially dilutive and a devaluation, however, we believe there are many valuable benefits to our shareholders. We believe the ultimate benefits to shareholders could include an increase in our book value based on acquisitions and expanding our operating revenues, liquidity, and profitability."
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