CORAL SPRINGS, Fla., Nov. 28, 2012 /PRNewswire/ -- Trans Global Group, Inc. (PinkSheets: TGGI) is pleased to announce the Company will be filing an Amendment with the State of Nevada to reduce the Authorized shares of the Company from 4 billion to 3.6 billion Authorized shares within the next few weeks.
The Company will not be converting any more of its debt for a minimum of 6 months as it works to reduce the debt without issuing any more shares of if its Common stock.
The Company will file to reinstate its wholly owned subsidiary Rollings.com, Inc. and change the name of the entity to Green Energy Savings Corp.
The entity was acquired in 2010 for the purpose of acquiring assets then filing to trade on the OTCBB. Green Energy Savings Corp plans to bring in Solar technology and become a reseller of energy in the deregulated energy states.
The Company will issue further news as events unfold over the coming weeks regarding restructuring of the Company's debt.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
CONTACT:
Christopher J Clarke
chris@transglobalgroupinc.com
954-509-3749
SOURCE Trans Global Group, Inc.
