Dec 3, 2015, Press Release
IRVINE, CA--(Marketwired - Dec 3, 2015) - Broadside Enterprises, Inc. (OTC PINK: BRSE) announced today that Christopher Petzel, who is taking the position of President and CEO of the Company effective January 1, 2016, will withdraw from CEDE 647,606,006 common shares beneficially owned and return those shares to the Company where they will be cancelled and retired.
In aggregate, Emaji's Common Stock outstanding has now been reduced by 1,447,606,006 shares, or 18.9%, from 7,639,746,087 common shares outstanding as of September 30, 2015 to 6,192,140,081 common shares outstanding as of December 3, 2015.
This step represents a further significant improvement to Emaji's capital structure and was undertaken with a view to the Company's long-term growth potential.
As disclosed in its most recent quarterly report, the Company reached agreement with all of its remaining note holders that there will be no further stock issuances to note holders until 2016 and that the note holders will work with the Company to minimize any further issuances during fiscal year 2016.
As announced on April 27, 2015, the company affirms its commitment to (i) not reverse its common stock, and (ii) not issue any new convertible debt.
Additional information about Emaji can be found in the Company's reports and filings at www.OTCMarkets.com.
Broadside Enterprises, Inc. (OTC PINK: BRSE), based in Irvine, California, is a publicly traded company with three divisions: Sports, Entertainment, and Ventures.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Emaji Investor Relations