PHOENIX, AZ, March 31, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Today, American Green’s (ERBB:OTC) Board of Directors voted unanimously this past week to reduce the company’s authorized shares and it was ratified with a shareholder consent having a majority of the shareholder votes. Prior to ERBB’s restructuring that took place during Q4/19, there were 120,000,000,000 (120 Billion) authorized shares. Last week, the Board of Directors voted to reduce that amount to 975,000,000 (975 million). Says David Gwyther, American Green president, “It was the company’s intention to reduce the authorized shares at the same time American Green restructured its outstanding shares last year. The Board of Directors felt it was time to make that happen now by voting to lower the authorized shares and having the reduction ratified by majority consent.”
Continued Mr. Gwyther, “Now that American Green is moving out of the development stages for most of its active enterprises, I believe the company will be relying less and less on capital coming in from investors which should reduce its need to issue additional shares for outside capital. The company may still require additional capital for expansions and acquisitions, but because of our growing revenues, the company believes that such additional capital should be on more beneficial terms to the company.”
Explanation of American Green’s Shareholder Count
As of the company’s last filing, the company lists 436 “shareholders of record.” This count is confusing to many shareholders I have spoken with, so I will try to explain. One of the 436 shareholders is “CEDE & Co.” CEDE holds ALL the shares for almost all the brokerage firms in America but it is only counted as ONE shareholder for the purposes of our financial report. When American Green held its last shareholder meeting, the company was required to notice all shareholders including those holding shares through brokerage firms.
Only one company in America that we know of can reach out to each brokerage company and receive the names and addresses of every ERBB shareholder. That company’s name is Broadridge. American Green hired Broadridge to do just that, and at the time just prior to American Green’s shareholder meeting in December 2017, Broadridge reported that ERBB needed to notify 85,802 separate ERBB shareholders. The company has to pay Broadridge according to the number of notifications it must send out, so American Green’s president, David Gwyther, asked Broadridge to re-check that number. Broadridge ran the data again and came up with the same number, and it was only then that management realized that American Green was the largest (in shareholders) of any other public company in its sector. Broadridge has a long history of accuracy and that is why American Green is confident in characterizing its shareholder count today as “over 50,000,” and why the “shareholders of record” in our financial statements lists only 436. As further proof of its numbers, American Green has over 20,000 opt-in combined subscribers to its very popular Email Alert feature meant to keep its shareholders up to date one or two times a month. The Company encourages all share- and interest-holders to subscribe by clicking the link on the paragraph below.
Please consider subscribing to the American Green CBD Store Weekly Deals where we hand-select a collection of CBD products that have been marked down 20-75% with deals resetting every Friday). American Green shareholders receive a 20% discount (see below) and we securely process all credit card sales in the US which has become an extremely valuable security feature in the CBD sector.
American Green’s Online Store Update During Our Trying Times
Our team is happy to report that despite a large influx in demand over the last month, we have been able to sustain our operations without any major issues or delays.
According to Kevin Davis, American Green’s VP of Online World Sales, “To clarify, we have been successful in maintaining our manufacturing, fulfillment and expansion, while continuing our dedicated customer service approach. The pandemic has provided us the opportunity to serve new customers who have important questions about our products, our company and CBD in general.”
Our goal is to take the time to provide accurate and timely support for all of the products we sell so our customers can be empowered to make their purchases with confidence and trust. We will continue to offer the best products, prices, and customer service through these uncertain times while searching for more opportunities to serve our customers in the years to come. Our goal is to take the time to provide accurate and timely support for everyone who enters our online store, so that they are confident in their buying decisions,” concludes Kevin Davis.
American Green CBD Store Resources
Why Shop American Green?
● Free Shipping On All Orders
● Large Selection of Products (over 140 items and growing)
● 100% USA Made Products
● All Products are THC-FREE (they contain 0.00% THC)
● 20% Discount For Shareholders (promo code INVESTOR)
● Weekly Deals (new deals every week)
American Green accepts: Visa, MasterCard, American Express, Discover, and Diners Club (which are securely processed in the USA).
Shareholders and interest holders may also stay current with American Green Updates:
American Green’s Main Website at www.americangreen.com
Twitter: @American__Green (two underscores), or
About American Green, Inc.
American Green, Inc. became, in 2009, America’s second publicly-traded company in the cannabis industry. American Green now, with its more than 50,000 individual certified shareholders, has more than any other company in the cannabis sector, American Green’s mission is to lead the cannabis and premium CBD industry. Leveraging our team of professionals in cultivation management, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives in the cannabis-adjacent and CBD industries, laser-focused on adding company and shareholder value.
For more information –
American Green, Inc.
2902 W. Virginia Ave
Phoenix, AZ 85009
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, be should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.