Trans Global Group to File an Amendment to Reduce the Authorized Shares by 400 Million Prior to the End of 2012
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.
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