SALT LAKE CITY, UT--(Marketwire - September 2, 2010) - Green Endeavors, Inc. (
The move was conducted through a merger of the existing corporation with a Utah corporation with the name of Green Endeavors, Inc. The officers and directors will retain their same positions in the Company as previously held. In conjunction with the move, the company will carry out a five for one forward split of its outstanding shares of common stock as of a record date of August 23, 2010. The market price of our common stock should reflect forward split by September 3, 2010. The Company has also increased the number of authorized shares of common stock by the same ratio, from 500 million to 2.5 billion, thus maintaining the same ratio of issued to authorized stock.
Mr. Richard Surber, CEO stated, "The board of directors agreed that our domicile should be in the State of Utah to reduce yearly filing fees significantly. Furthermore, the City of Salt Lake and the State of Utah have been supportive of our businesses and I want our tax dollars going to the City and State that supports our businesses and clients. Specifically, Salt Lake City recently extended a low interest loan for $100,000 for the construction of our newest location in the Marmalade District of Salt Lake City which is on Schedule to open mid September."
Mr. Surber continued, "The forward split will create additional shares in the public float without dilution. Accordingly, my expectation is that the forward split will promote liquidity by decreasing the bid/ask spread, temporarily decreasing the price per share which will allow for potential greater gains on a per share basis. Further, increasing the number of shares that current investors hold may encourage them to sell a portion of their existing shares, while still holding onto a portion of their investment for long terms gains."
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About Green Endeavors, Inc.
Green Endeavors, Inc. (
GRNE strongly encourages the public to read the above information in conjunction with its filings and disclosures filed in 2009 and 2010. GRNE's disclosures can be viewed at www.pinksheets.com and www.sec.gov; prior years are also available at www.green-endeavors.com.
This press release contains forward looking statements. However, there are no assurances that such assumptions will prove correct. The actual results that GRNE may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Investors should not invest more than they can afford to lose in penny stocks. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements Green Endeavors, Inc. cautions you that any forward-looking information provided by or on behalf of Green Endeavors, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Green Endeavors, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Contact Information:
FOR MORE INFORMATION, CONTACT:
Richard Surber
President
Green Endeavors, Inc.
801-575-8073 x 106