American Green (ERBB:OTC) Increased Shareholder Value by Greatly Reducing the Number of Authorized Shares of its Stock. Plans on taking more steps in the future to benefit its shareholders.
PHOENIX, AZ – 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, "We are always looking to increase our shareholder value. This is just one of the steps that we plan on doing that will bring more value to American Green's shareholders.
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. American Green encourages all share- and interest-holders to stay informed of ERBB company information by subscribing here https://americangreen.com/#signup
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American Green’s Online Store Update
We are happy to report that we have had a large influx in demand over the last month. We have been able to sustain operations, fulfill all orders and get them shipped out on time as our customers expect. "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, customer service and competitive products all the 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.
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