SOURCE: Green Star Products, Inc.
SALT LAKE CITY, UT--(Marketwire - Jun 1, 2011) - Green Star Products, Inc. (PINKSHEETS: GSPI) today announced for the second time a Notice to its Shareholders that it has scheduled a Special Shareholders Meeting to cancel the planned reverse stock split of Green Star shares.
On January 2, 2011, at a GSPI Special Shareholders Meeting, the stockholders voted to reverse split the shares of Green Star Products one for ten. Green Star Products is now scheduling a Special Shareholders Meeting to cancel the reverse stock split. The Board of Directors of Green Star believes its new business strategies have made great strides in recent months, even the last few weeks, toward increasing GSPI's revenue. Therefore, a reverse split of GSPI stock is not warranted.
The Special Shareholders Meeting is scheduled for June 4, 2011, at the Little America Hotel in Salt Lake City, Utah, at 10 AM. Only Shareholders of record on April 21, 2011 will be able to vote. GSPI Shareholders can receive more information by visiting a direct link at our Web site (http://www.greenstarusa.com/2011Meeting.html) where they can also vote by completing an online form.
Joseph LaStella, President of Green Star Products, stated, "This is a very important meeting for the Company. It should be noted that the Company has already received approximately 35% of its proxy votes as of today. I am happy to announce that all of the proxies so far have voted in favor of canceling the planned 1 for 10 reverse split. Therefore, it is almost certain that the proposition will be passed on June 4th. I would like to thank all the Stockholders for their vote of confidence in our Company and we look forward to a profitable year ahead."
About Green Star Products
Green Star Products, Inc. (PINKSHEETS: GSPI) is an environmentally friendly public company dedicated to creating innovative, cost-effective products to improve the quality of life and clean up the environment. GSPI and its Consortium are involved in the production of green sustainable goods including renewable resources like algae biodiesel and clean-burning biofuels, cellulosic ethanol and other green products, as well as lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information visit http://www.GreenStarUSA.com, or call 1-800-741-7648 and 1-800-340-9784, fax 619-789-4743, or email info@GreenStarUSA.com.
Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings.