Global Warming Solutions, Inc. (Pink Sheets: GWSO) a developer of technologies aimed at mitigating the effects of global warming is providing an update to its long-term shareholders. Dr. Vladimir Vasilenko, Founder and CEO of Global Warming Solutions:
Since embarking on our life as a public company (GWSO) has focused its efforts on two of its portfolio technologies: LETG and PureRay. Unfortunately the cyclical and structural headwinds in the solar industry over the past few years have made it difficult to obtain the necessary capital to further develop the LETG system. On the PureRay front we have continued to improve the technology incorporating new methods that have shown interesting results specifically in the field of vaporization. That being said any prospects of commercialization are dwindled by the lack of access to sufficient capital.
As our share price has declined to below a penny per share the trading liquidity has essentially ceased. This prevents us from being able to tap into our equity valuation and raise the capital we need to progress our technologies towards commercialisation.
In order to improve trading liquidity and our capital structure we propose to effect a 1:100 reverse split (for every 100 shares owned before the split 1 share will be owned post split). As a long-time shareholder I believe that this decision is in the best interest of our company as a higher share price with a lower share count will make our company appeal to a new group of investors that would not entertain an investment in a penny stock.Any shareholders with questions do not hesitate to contact me at email@example.com About Global Warming Solutions, Inc.Global Warming Solutions develops technologies that help mitigate Global Warming and its effect on our planet. The Company targets three areas that help reduce the extent of Global Warming and fight issues that have risen in consequence For more information visit the company website: http://www.globalwarmingsolutions.com The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein.