"The surrender of shares from prior management is one of a number of initiatives we are undertaking to improve the overall capital structure,” United Treatment Centers CEO Chris Seminatore stated, in a written statement. “We are building an internet-based information hub for the marijuana industry that will be updated daily through video. Additionally, we have constructed a business model that will monetize the resulting traffic,” he added.
According to the release, the Los Angeles-based company’s main product line will assist individuals with marijuana-based businesses to be compliant with state and local laws.
On Mar. 5, UTRM’s share price closed at 0.0021 cents, up 0.0001 cents from its closing price of 0.002 cents the previous day.
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