Los Angeles, California, Sept. 22, 2013 (GLOBE NEWSWIRE) -- Embarr Downs, Inc. (OTC: EMBR) annouces that today the companyreleased a letter to shareholders from its Chief ExecutiveOfficer. Dear Shareholder, As you may or may not be aware, Embarr Downs,Inc. recently completed a reverse merger whereby the Company's namewas changed from Globalgroup Investment Holdings to Embarr Downsand the Company's ticker was change from GIHI to EMBR. As part of the reverse merger, the Company began the process offiling a Form 10 with the United Stated Securities and ExchangeCommission. The Company filed the Form 10 with the SEC on September18, 2013. As part of the Form 10 process, the Company'smanagement set forth its long term goals. While reviewing theselong-term goals and the capital requirements for this growth, theCompany determined that the current capital structure created bythe previous management was not ideal. As part of thisrestructuring plan, the Company decided to change the currentcapital structure by reversing the Company's common stock by aratio of 50,000 to 1 and to reduce the authorized number of commonshares from 4.45 Billion to 500 Million. These steps were necessaryfor the company to establish a sustainable and defensible capitalstructure that will help give Embarr the long-term credibilityneeded in the market. As part of the reverse split, the Company willissue to shareholders of record immediately prior to the reverseSeries B Preferred Stock, with a face value of $1.00. Eachshareholder shall receive 1 share of Series B Preferred Stock foreach 2,500 common shares owned (for an effective price of $.0004per common share or 100% increase from the closing market price onSeptember 20, 2013). Any fractional shares shall be roundedup. For illustrative purposes only, the following table showsthe number of shares a common stock holder would receive of ourSeries B Preferred Stock.
|Common Shares Owned||Conversion Ratio||Number of PreferredShares|
For illustrative purposes only, the following table shows thenumber of shares of our common stock that a holder of our Series BPreferred Stock would receive upon conversion of one share ofSeries B Preferred Stock at various applicable market values forour common stock.
|Stated Value of Series B PreferredStock||Market Value of CommonStock||Number of shares of Common Stock tobe Issued|
CONTACT: Contacts: Embarr Downs., Inc. Joseph Wade (949) 461-1471 firstname.lastname@example.org www.embarrdowns.com