Megola Inc. CEO Addresses Shareholders
LAS VEGAS, NV / ACCESSWIRE / September 15, 2021 / Megola Inc., (OTC PINK:MGON) (the "Company"); a Consortium Group of Health Technologies and Service Company is pleased to share a letter from CEO Robert Gardiner.
Dear Shareholders: Megola has made a commitment to continue to bring value to our shareholders and we have spent many months restructuring the company business and to set ourselves apart from previous management. Our experienced team has uncovered several stock issuances from prior years that we deemed invalid for deposit. We are not to cause alarm to shareholders more so we are cleaning up past managements questionable transactions. We hired a legal team to review these questionable transactions, deal with them appropriately and overall will strengthen company forward.
On September 10th Megola received a temporary court injunction to stop 5 million book entry, a 5 million certificate of MGON common shares from being eligible for deposit. A court hearing is scheduled for Oct. 8th to hear evidence for a permanent stoppage of deposit for the shares in question. These shares are currently part of the outstanding common issued.
Megola has full confidence that the outcome of the hearing will favor a Stop Deposit order by the court. Megola is also reviewing another approximate 10M in issued old certificates from 2014 to potentially cancel. These too are inclusive of current outstanding issued. Megola recently returned 19,500,000 common shares back to treasury.
The actions of Megola continues to assure all shareholders will benefit from the hard work of our executive team and board. Please visit our social sites as we will be making updates when applicable.
My quote from August 25th update "We were able to reduce our outstanding common shares by 19,500,000 and I am currently investigating with our corporate team of past issuances of our common stock. Since bringing the company back in good standing we have determined that some previous managements may have issued stock that might not have been valid, so I owe it to our shareholders to review the history of the company as we move it forward. Currently there is over 20 million more common shares in certificate form that are being reviewed to cancel with proper legal procedures".
Doing exactly as I claim, the best I can for company and its shareholders.
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Stock information here: https://www.otcmarkets.com/stock/MGON/overview
Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.
SOURCE: Megola Inc.