Green Star Board Schedules Vote to Cancel Reverse Split of Stock
April 26 2011 - 9:35AM
Marketwired
Green Star Products, Inc. (PINKSHEETS: GSPI) today announced that
its Board of Directors has scheduled a Special Shareholders Meeting
to cancel the planned reverse stock split of Green Star shares. On
January 2, 2011, at a GSPI Shareholders Meeting, the stockholders
voted to reverse split the shares of Green Star Products one for
ten.
The new Board of Directors is now scheduling a Special
Shareholders Meeting to cancel the reverse stock split. The Board
believes that Green Star's new business strategies have made great
strides in recent months toward increasing GSPI's revenue.
Therefore, a reverse split of GSPI stock is not warranted.
During a recent corporate trip to China, GSPI's presentations
created great interest in our distribution line of TVT lubricants
and coating products. This has resulted in several significant
letters of intent being signed by Chinese entities. The Board of
Directors believes that these letters of intent will translate into
purchase orders as soon as independent testing of several products
is completed.
Other business opportunities in the United States have also
strengthened GSPI's revenue projections. Please see the website of
our partner Innovasol (http://www.innovasol.com) and Eco Solution's
website (http://www.ecosolutions.com) for Italian Gun Grease. Also
see our last press release titled "Green Star Products New Product
Line Spurs Industry Interest"
(http://www.greenstarusa.com/news/11-04-06.html).
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 21th, 2011 will be able to
vote.
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 800-741-7648 and 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.
CONTACT: Joseph LaStella President Green Star Products, Inc.
800-741-7648 / 800-340-9784 619-789-4743 (fax)
info@GreenStarUSA.com
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