Greenwave CEO Danny Meeks Waives Quarterly Bonuses for Fiscal Year 2023
January 20 2023 - 2:25PM
Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company")
(NASDAQ: GWAV), a leading operator of metal recycling facilities in
Virginia and North Carolina, is pleased to announce Greenwave's
Chief Executive Officer Danny Meeks has agreed to waive his
quarterly bonuses due under his employment agreement for fiscal
year 2023. This waiver is expected to reduce operating expenses and
improve free cash flow by approximately $1 million.
About Greenwave Greenwave Technology Solutions,
Inc., through its wholly owned subsidiary Empire Services, Inc.
(“Empire”), is a leading operator of metal recycling facilities in
Virginia and North Carolina. At these facilities, Empire collects,
classifies, and processes raw scrap metal (ferrous and nonferrous)
for recycling. Steel is one of the world’s most recycled products
with the ability to be re-melted and re-cast numerous times while
offering significant economic and environmental benefits when
compared with virgin materials. For more information, please
visit https://www.greenwavetechnologysolutions.com/. Check us
out on all social media platforms:
https://twitter.com/greenwavegwav,
https://www.instagram.com/greenwavegwav and
https://www.youtube.com/@greenwavetechnologysolutions.
Forward-looking StatementsThis press release
contains certain forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These include, without limitation, statements
about its revenue growth, opening of additional locations,
margin expansion and cashflow projections. These statements are
identified by the use of the words "could," "believe,"
"anticipate," "intend," "estimate," "expect," "may," "continue,"
"predict," "potential," "project" and similar expressions that are
intended to identify forward-looking statements. All
forward-looking statements speak only as of the date of this press
release. You should not place undue reliance on these
forward-looking statements. Although we believe that our plans,
objectives, expectations and intentions reflected in or suggested
by the forward-looking statements are reasonable, we can give no
assurance that these plans, objectives, expectations or intentions
will be achieved. Forward-looking statements involve significant
risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from historical experience and present expectations or projections.
Actual results may differ materially from those in the
forward-looking statements and the trading price for our common
stock may fluctuate significantly. Forward-looking statements also
are affected by the risk factors described in our filings with the
U.S. Securities and Exchange Commission. Except as required by law,
we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
Contact
Info:757-966-1432Info@Greenwavetechnologysolutions.com
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