E-Waste Systems, Inc. Announces Reverse Stock Split
The 1:250 reverse split of EWSI stock is effective as of 5 November.
London, United Kingdom, November 07, 2014 --(PR.com)-- E-Waste Systems, Inc (OTCQB: EWSI) (‘EWSI,’ ‘the Company’ or eWaste Systems) an electronic waste management, environmentally focused services and technology company, announces today that it has concluded a 1 share for 250 shares reverse split effective November 5, 2014.
The reverse split was approved by action of the Board of Directors on September 29, 2014 to be effective after review by FINRA and DTC. “The course of the Company’s business operations was re-evaluated and we determined that restructuring was required to permit the Company to obtain appropriate financing and make our capital structure more attractive to potential investors, thus providing us with greater flexibility in pursuing opportunities. Our commitment is to increase revenues based upon solid fundamentals focused on expanding our technology resources to build a global brand,” said Mr. Martin Nielson, Founder & CEO of E-Waste Systems.
By 2017, the global volume of discarded refrigerators, TVs, cellphones, computers, monitors and other electronic waste will weigh almost as much as 200 Empire State Buildings, a new report predicts. The forecast, based on data gathered by United Nations organizations, governments, and nongovernment and science organizations in a partnership known as the "Solving the E-Waste Problem (StEP) Initiative" predicts e-waste generation will swell by a third in the next five years, led by the United States and China. The StEP Initiative forecasts that by 2017, the world will produce about 33 percent more e-waste, or 72 million tons (65 million metric tons). That amount weighs about 11 times as much as the Great Pyramid of Giza.[1]
For the next 20 business days EWSI will be traded with the ticker symbol EWSID to reflect the reverse split.
For information, video and pictures follow E-Waste Systems, Inc. on LinkedIn & Facebook, @EWasteSystemsIn on Twitter and on the Company’s website www.ewastesystems.com.
For additional inquiries, contact Investor Relations at: ir@ewastesystems.com.
About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI leverages its expansive geographical network of affiliates providing best practices in professional management and state-of-the-art engineering to companies facing regulatory or other mandates for handling e-waste. Additional information, including the business plan summary, pictures and descriptions of the facilities, staff, and overall progress of the Company is available on the official website and social media sites: www.ewastesystems.com, Facebook, Twitter, and LinkedIn. Or contact: Investor Relations at: ir@ewastesystems.com.
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
[1] http://www.livescience.com/41967-world-e-waste-to-grow-33-percent-2017.html
The reverse split was approved by action of the Board of Directors on September 29, 2014 to be effective after review by FINRA and DTC. “The course of the Company’s business operations was re-evaluated and we determined that restructuring was required to permit the Company to obtain appropriate financing and make our capital structure more attractive to potential investors, thus providing us with greater flexibility in pursuing opportunities. Our commitment is to increase revenues based upon solid fundamentals focused on expanding our technology resources to build a global brand,” said Mr. Martin Nielson, Founder & CEO of E-Waste Systems.
By 2017, the global volume of discarded refrigerators, TVs, cellphones, computers, monitors and other electronic waste will weigh almost as much as 200 Empire State Buildings, a new report predicts. The forecast, based on data gathered by United Nations organizations, governments, and nongovernment and science organizations in a partnership known as the "Solving the E-Waste Problem (StEP) Initiative" predicts e-waste generation will swell by a third in the next five years, led by the United States and China. The StEP Initiative forecasts that by 2017, the world will produce about 33 percent more e-waste, or 72 million tons (65 million metric tons). That amount weighs about 11 times as much as the Great Pyramid of Giza.[1]
For the next 20 business days EWSI will be traded with the ticker symbol EWSID to reflect the reverse split.
For information, video and pictures follow E-Waste Systems, Inc. on LinkedIn & Facebook, @EWasteSystemsIn on Twitter and on the Company’s website www.ewastesystems.com.
For additional inquiries, contact Investor Relations at: ir@ewastesystems.com.
About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI leverages its expansive geographical network of affiliates providing best practices in professional management and state-of-the-art engineering to companies facing regulatory or other mandates for handling e-waste. Additional information, including the business plan summary, pictures and descriptions of the facilities, staff, and overall progress of the Company is available on the official website and social media sites: www.ewastesystems.com, Facebook, Twitter, and LinkedIn. Or contact: Investor Relations at: ir@ewastesystems.com.
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
[1] http://www.livescience.com/41967-world-e-waste-to-grow-33-percent-2017.html
Contact
E-Waste Systems Inc.
Cris Giancotti
+39 3299111817
www.ewastesystems.com
Cris Giancotti
+39 3299111817
www.ewastesystems.com
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