HOLBROOK, N.Y., June 4, 2013 /PRNewswire/ -- Northstar Global Business Services, Inc. (OTCPink: MDIN), today announced that CEO Nick Chieco did a short audio interview with thestockradio.com to introduce new shareholders to the company. The interview can be heard at thestockradio.com via the following link: http://www.medgeninc.com/2/.
In the interview, Mr. Chieco describes the company and it's history, and goals, but the information was geared more towards new investors than seasoned shareholders and was more of an overview than an update. The company would like to update shareholders on several issues including the chill status, the results of its share buy-back, and current share structure.
The company warns shareholders not to depend on non-secure information such as message boards, forums, and not to attempt doing their own math based on previous announcements of goals and past totals, because there are too many details left out. Only the company's official PR's and OTC Disclosures stating totals should be trusted for share totals and structure. As per the last disclosure document, after the cancellation of 100,000,000 shares previously owned by insiders, the company had a total of 402,319,415 outstanding with 238,986082 of those in the public float. Since that time, the company has removed the restrictive legend of those shares whose owners requested it, and were eligible; increasing the public float while the number of outstanding shares remained the same. For the licensing and partnering regarding new patents, the company has since issued restricted shares with additional one-year restrictions, and cancelled an additional 120,000,000 of 153,000,000 acquired in it's aggressive shares buyback, and insider surrenders. These changes avoided a huge increase in public shares making the current float almost unchanged at 269,019,415 with an outstanding of 732,319,415. The company points out that with just about all previously issued restricted shares gone, the current float is at it's ceiling and can only go down from here for at least the next 2 years. Another important fact is that the company issued 2 million preferred Series A shares last quarter to company CEO Nick Chieco which hold super-voting rights, so that the current board of directors still holds 90% of the controlling votes of the company without need to issue securities to maintain ownership. Northstar also adds that it holds 33 million shares of the current float in the company treasury after the above cancellations, and will continue to buyback shares with a goal of an additional 80 million shares yet to be acquired.
Company CEO, Nick Chieco added, "I have been getting a ton of questions about the buyback and current share structure and it is great to have these questions put to rest. There are a lot of people who try to do some quick math with only a tiny bit of the information causing a lot of misinformation to be spread around. I think where we are right now is actually a very good place for the success we are having, and it will only get better. With confidence very high that the DTCC will lift our chill order any day now, and our accountants working very hard to finish audits that will allow us to list on a market tier that is higher, there's no doubt in my mind that our real value as a company will be indicated by our share price and revenues, and not by the opinions, or trading habits of a few." Chieco adds that the company is finally on the cusp of retailer rollout, and that revenues are at an all time high, and expected to far exceed last quarter's numbers.
Northstar Global Business Services is dedicated to producing the best alternative healthcare products. The most popular products Northstar's sells are Snorenz©, a patented spray for snoring relief, Stem-Intense, a unique stem cell replacement therapy supplement, and Health-Enrich for pets, an exciting new supplement that promotes pet health and can help relieve many problems experienced by aging pets. Most of the company's products use a proprietary or patented formula, spray delivery system, or ingredients, and have received very positive consumer reviews all over the world, selling millions of units from 1996 to the present. For more information please call Jennifer at 877-571-4387 or email firstname.lastname@example.org.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
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SOURCE Northstar Global Business Services, Inc.