GNCP GNCC Capital Inc (CE)

GNCC Capital, Inc. (OTC:GNCP) (“The Company”) announced today that its management and board of directors intend to recommend re-domiciling the Company as a Wyoming corporation.

Common shareholders and preferred shareholders of each class having a vote sufficient to approve the re-domiciliation have indicated to the Board their intention to approve this corporate action. The Company has been incorporated in Delaware since 2008; prior to then it was a Nevada corporation. Following formal Board and Shareholder approval, the requisite filings will be made in Wyoming and Delaware and a notification of corporate action will be filed with FINRA, to be effective upon FINRA approval.

Wyoming corporate law is clear in that Wyoming corporations may engage in stock buy-back programs without restriction; the restrictions that apply to payment of corporate dividends are not included in the provision of Wyoming law that specifically authorizes stock buy-backs. The legal certainty provided by Wyoming law on this point is a clear advantage over the present state of Delaware corporate and case law. Additionally, there are substantial savings on state franchise tax.

The Company’s Directors have legal opinion that recommends that the Company effect this re-domiciling to Wyoming, given provisions of Delaware Law; that in the Opinion of Legal Advisors to the Company, currently prohibit the Company from implementing its authorized Stock Buyback Program.

The Company’s Directors authorized a Stock Repurchase Program of up to $750,000 on January 13, 2014 and amended on September 26, 2014. The Company secured the necessary funding for this Stock Repurchase Program without utilizing any of the Company’s existing loan agreements and expressly without utilizing any of the existing Company’s various Subsidiary Companies’ profits and cash. The full details of which were filed on the OTC Markets Filing & Disclosure Service on January 13, 2014.

The full details of which were filed on the OTC Markets Filing & Disclosure Service, today, include a basic FAQ Review of these Rules. A link to this filing: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=127017.

Following the re-domiciling of the Company in Wyoming and approval from FINRA, it is intended that the Company will commence with its authorized stock buyback program. All shares of Common Stock repurchased in the market by the Company will be cancelled upon their repurchase by the Company. All stock repurchases by the Company will comply with Section Rule 10b-18 as promulgated under the Securities Exchange Act of 1934, as amended. All stock repurchases by the Company will be published in accordance with Section Rule 10b-18 as promulgated under the Securities Exchange Act of 1934, as amended.

The Company will file all requisite documentation in respect of its re-domiciling to Wyoming on the OTC Markets Filing & Disclosure Service.

This stock buyback follows on from comments made by the Company’s Directors in various Press Releases whereby they stated that absolutely no Reverse Split of the Common Stock of the Company would be considered as it was considered to be detrimental to Stockholder interests. This planned Stock Buyback should allay the concerns of those whom considered that the Company would contemplate a Reverse Split of its Common Stock. The Directors of the Company, under no circumstances, will consider any reverse split of the Company’s Common Stock.

About GNCC Capital, Inc.:

GNCC Capital, Inc. is a Diversified Holding Company which at present has Revenue Generating, Cash Positive and Profitable subsidiary companies which are engaged in the owning and operation of Adult Social Gaming Arcades based in South Florida. Internet and Social Media Reputation Management Services operating from Carlsbad, California. The Company also has significant assets in Gold & Silver Mining Exploration in Arizona. GNCC Capital, Inc. is a Current Information Filer on the OTC Markets.

The Company’s most profitable assets, at this time, are our Adult Social Gaming Arcades in South Florida which are currently operating under our Gold Coast Gaming Corporation and as “Boardwalk Brothers” and ”Play It Again”. The Company is aggressively pursuing suitable acquisition targets in South Florida and in this Sector.

The Company also intends to continue to diversify into other Industry Sectors through acquisitions and as they present themselves; only upon our stated criteria.

Forward-Looking Statements:-

This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.

GNCC Capital, Inc.Ronald Y Lowenthal, 702-951-9793Executive Chairmancorporate@gncc-capital.comorPeter Voss, 702-951-9793Chief Executive Officercorporate@gncc-capital.comorInvestor RelationsE Mail: investor@gncc-capital.comWeb Site: www.gncc-capital.comTwitter: https://twitter.com/GNCCCapital[We would be very appreciative if all investor questions be directed to this E mail address and not to our telephone voicemail until such time as we have appointed a dedicated Investors Relations Firm whom will deal with all telephonic enquiries]

GNCC Capital (CE) (USOTC:GNCP)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024

GNCC Capital (CE) (USOTC:GNCP)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024