CRESCO, PA--(Marketwired - Mar 21, 2017) - Net Savings Link, Inc. (OTC: NSAV) announced today that the Company has approved a major reduction of its authorized shares. The exact amount of the decrease will finalized in the coming days and will be publicly disclosed in a comprehensive press release within a week. The Company will be consulting with its attorneys, investment bankers and advisers, in order to ensure that the amount of the share reduction benefits all NSAV shareholders, while still allowing the Company to grow and make acquisitions. The current management of NSAV had planned a major reduction of its authorized shares, which was increased by the former management in July 2015. The Company decided to take this action and make this announcement earlier than planned in response to numerous shareholder inquiries, in which the NSAV shareholders were afraid of an immediate and substantial dilution of it shares. The Company wants to reassure all of its shareholders that no substantial dilution of its shares has taken place or will take place.
Further, the Company believes the issued and outstanding share count of 3,149,504,075 is accurate and has today requested that the transfer agent confirm this amount. Once the Company receives confirmation from the transfer agent, it will immediately post the number on its OTC Markets corporate profile page.
The Company also announced a reaffirmation of its previously released public statement, that it is categorically not planning or even considering a reverse split of its shares. This is in response to continued shareholder fears of an imminent reverse split.
James Tilton, president of NSAV stated, "It is with great pleasure that I can confirm that the Company will enact a drastic reduction of its authorized shares. I can assure all of our shareholders that this action will benefit them. As I have stated on numerous occasions, I am fully committed to only taking action that are in the best interest of all NSAV shareholders. I also want to reaffirm that I do not own a single share of NSAV common stock or any security that converts into even one share of common stock."
Mr. Tilton went on to state, "Once again I can confirm that neither myself, nor any other person associated with the company, had any knowledge that the transfer agent issued 149,666,667 new shares until the transfer agent confirmed it to me personally a week after the shares were issued. This fact is evidenced by numerous emails that I have sent to the transfer agent, which several shareholders have posted on the internet. I urge all shareholders to refrain from focusing on this share issuance, albeit a serious matter and allow the Company to get back to work making acquisitions and bringing its SEC filings up to date. These are the critical issues at hand for the Company at the present time."
Mr. Tilton further went on to state, "I also sincerely hope that we have put the issue of a reverse split to bed once and for all. We will grow NSAV from the ground up, by making timely and solid acquisitions that will greatly enhance shareholder value. A reverse split never enhances shareholder value and I personally haven't been involved with a company that enacted a reverse split in fifteen years."
NSAV's vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the medical cannabis industry, as well as other areas of the medical industry. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, financial services, patents and trademarks and information technology.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.