NEW YORK, NY--(Marketwired - Jan 4, 2017) - Clean Power Concepts Inc (OTC PINK: CPOW) CEO Michael Shenher announced that the company is implementing a Three-Step Plan to forge the Company on the track to success.
The Company already has taken steps to enhance its public disclosure on OTC Markets by attempting to go from a limited information sign to back to current in its filing obligations. Corporately, Clean Power Concepts Inc has amended its Articles of Incorporation and Corporate Bylaws to create a series of Anti Dilutive, Convertible Preferred Shares to protect its majority stakeholders. These securities will soon become available to the common shareholders. The objective, moving forward, is to start re-organizing the debt on the balance sheet, so the company is debt-free.
Next, Clean Power Concepts Inc plans to audit its financial statements and file a Form Ten (10) to become an OTCQB company this year. The last part of the plan is to enhance the Net Stock Holders' Equity in the Company by acquiring or joint-venturing with profitable business operations, and/or assets, using its Convertible Preferred Stock as currency. We will be actively pursuing private companies in the hemp and medical marijuana space.
Clean Power Concepts Inc CEO said, "The 3-Step Plan is necessary to attract investment and equity into our company. We will also restore investor confidence if we commit ourselves to remove affiliate and non-affiliate debt, become fully reporting with the SEC and file audited financial statements. We also need to build net stockholders' equity on the balance sheet. This is a process we are committed to moving ahead with, and our resolve to complete those tasks are a function of effort, teamwork and time."
He further stated, "We have a team of very qualified professionals to implement this strategy and our mandate, moving forward, while we add sound accounting and legal representation to make good on this Agenda. Additionally, Clean Power Concepts Inc will seek a more transparent dialogue with its investors, as to the clarity of implementing those objectives. As we meet certain milestones, the investment community will be more thoroughly aware through our disclosures and public records."
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission.
Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.