On October 8, 2024, Greene Concepts Inc. (OTC Pink: INKW) announced the successful cancellation and removal of all outstanding convertible notes dating back to 2018. These notes, totaling $313,995.68, met the necessary criteria for cancellation and removal from the company’s financial records as of the fiscal yearend of July 31, 2024. The conversion of these notes at the stated rate of .00005 per share could have resulted in over 6.2 billion additional shares entering the market, potentially diluting existing shares.
Lenny Greene, CEO of Greene Concepts, expressed his satisfaction with the removal of these convertible notes, emphasizing the preservation of shareholder value by avoiding dilution through conversion. The company’s decision aligns with its strategic goals of enhancing earnings per share and positioning their flagship product, BE WATER™, as a prominent national brand.
Greene Concepts, Inc., aims to provide consumers with high-quality, healthy beverages that promote overall wellness. Their primary product, BE WATER™, is a premium artesian bottled water sourced ethically from natural aquifers beneath the Blue Ridge Mountains. The company’s commitment to eliminating toxic debt and enhancing financial stability reflects their dedication to improving shareholder value and ensuring future growth.
This press release contains forward-looking statements regarding the company’s plans and expectations, subject to uncertainties and risks that may impact current and future operations. For further information, interested parties can access the company’s reports filed with the Securities and Exchange Commission and OTC Markets, Inc. Greene Concepts upholds a commitment to update and revise forward-looking statements in response to new information or events.
