Northstar Announces plans to become fully audited, and file for listing on the OTCBB.
HOLBROOK, N.Y., April 22, 2013 /PRNewswire/ -- Northstar Global Business Services, Inc., Symbol (OTCPink: MDIN), today announced that the company has begin to put a plan into effect to re-list on the OTCBB and provide audited financials going back two years. Over the past two months, Northstar has reported dramatically increased revenue and business growth, so acute that the company feels the audits are important to maintain the public's confidence in its disclosures. Listing on the more highly regulated OTCBB is also expected to soften volatility, and curb any abnormal market maker trading methods that may not benefit shareholders, and that may be currently causing Northstar to be under valued in the marketplace.
The announcement comes as Northstar waits for the lifting of its "Chill order" by the DTCC, a restriction that was put on the company back in 2010 because of too many shares being issued electronically by former management as a way to remove debt from the books. A "chill order" causes trades to be settled differently, to protect shareholders, but also excludes a small amount of brokerage firms from trading the stock. Although shareholders can still purchase the company's securities through most firms, the lifting of the "chill order" is expected to be extremely positive for the company. Northstar has provided the DTCC with the requested documentation showing that the past issuances were all processed properly, and the company fully expects it will be lifted any day now.
As the company's CEO, Nick Chieco explains, "This plan is an important step in this company's evolution. I think to the average shareholder, Northstar's success just looks too good to be true. I am truly flattered that the shareholders have taken our word for it all this time, but soon our explosive growth over the past few months, and months to come will be undeniable, and that is as important as the growth itself." Mr. Chieco goes on to assure everyone that the documentation requested by the DTCC for removal of the company's "Chill" is extremely detailed and undeniable. The company expects a removal to come very soon.
Northstar's timeframe for these massive changes is not unlike all of the company's goals, aggressive. The company hopes to have the chill removed, the audits done and the filing of necessary forms for listing on the OTCBB to happen in time for it's next quarterly disclosure, which ends on June 30th. Northstar would like to remind shareholders that there are many things that could cause the company to miss that goal, but many aggressive goals have been set so far, and the company has had a history of pulling it off one way or the other. Northstar Global Business Services, Inc. continues to move forward and gain ground every day though hard work and determination. Persons interested in Northstar or its products can visit www.medgeninc.com, or call Jennifer at 877-571-4387 or email firstname.lastname@example.org
Northstar Global Business Services is dedicated to producing the best alternative healthcare products. The most popular products in Northstar's arsenal are Snorenz©, a patented spray for snoring relief and Stem-Intense, a unique stem cell replacement therapy supplement, and most recently, Health-Enrich for Pets, an exciting new pet anti-aging supplement. Most of the company's products use a unique spray delivery system, or stem cell replacement technology, and have received very positive consumer reviews all over the world, selling millions upon millions of units from 1996 to the present.
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.
SOURCE Northstar Global Business Services, Inc.