SOURCE: Garb Oil & Power Corporation

Garb Oil & Power Corporation

March 27, 2015 10:55 ET

Garb Oil & Power Corporation's CEO and President Tammy Taylor Updates Shareholders

LARGO, FL--(Marketwired - Mar 27, 2015) - Garb Oil & Power Corporation (GARB) (OTC PINK: GARB) - Today the Company's Chief Executive Officer and President Tammy Taylor released the following open letter to shareholders.

TO THE SHAREHOLDERS OF GARB OIL & POWER CORPORATION

The audits and Form 10-K filings for years ending December 31, 2011, 2012 and 2013 as well as all quarterly reviews and Form 10-Q filings for years 2012, 2013 and 2014 have been completed and filed with the SEC. The unexpected tasks that required a tremendous amount of work hours for the Company to reach this momentous accomplishment turned out to be far greater in scope and magnitude than anyone within Garb's team would have thought possible.

Not only did former management allow the public reporting to be delinquent for several reporting periods, the accounting of, and records for, all corporate transactions that had occurred after the year ended December 31, 2010 audit were not accounted for in Garb's records that were transferred to new management. For the audits, new management was required, and able, to reconstruct Garb's accounting records to the detailed corporate transactions that had occurred during the years ended from December 31, 2011 through the date new management took over Garb on August 21, 2013. 

The resulting 2011 through 2013 audited financial statements are a true picture of former management's performance during their tenure as management of the Company. The 2014 10Qs give a clear picture of how new management has reduced expenses and increased revenue resulting in greatly improving the overall company performance from previous management.

The Company's focus is now to immediately work to increase revenues.

While it has taken beyond a long period of time for us to achieve SEC filings to a current date, we have proven to ourselves that this team is deeply committed to Garb and that no task is impossible to achieve, that every problem is only an issue to be solved. We all thank you for your patience and look forward to being able to fully execute Garb's business plan of operations.

Sincerely,
Tammy Taylor,
Chief Executive Officer and President

About Garb Oil & Power Corporation
Garb Oil & Power Corporation (OTC PINK: GARB) (PINKSHEETS: GARB) has a long company history in the fast growing industry of waste recycling and specifically related to waste-to-energy. Garb is organized to utilize both next-generation machines and new technologies to vertically integrate into the waste refinement, recycling and energy industries. In addition to selling new tires, shredders and related recycling equipment, the Company's emphasis is for its own plants to produce profitable new and "green" solutions for waste-to-energy including the potential use of hemp, alternate energy sources, fuel enhancements, recycle fuel operations that utilize the fuel enhancement products, new equipment technologies that improve energy usage efficiency and utilizing recycled material in producing both useful and desirable products including wood pellets and medical marijuana paraphernalia.

Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements. These statements are based on current expectations and assumptions regarding future events and business performance and involve known and unknown risks, uncertainties and other factors that may cause industry trends or actual Company results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these statements. Although the Company believes that expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. All who read this press release should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.

Contact Information

  • Company Investor Relations Contact:
    Garb Oil & Power Corporation
    info@garbreorg.com
    Telephone: 888-573-6622, Ext. 1