Published On: Sun, Aug 31st, 2014

Global Clean Energy Inc. (OTCMKTS:GCEI): Business Update

Global Clean Energy Inc. (OTCMKTS:GCEI) recently updated its shareholders pertaining to the latest corporate events. The company noted to have signed an extension of its “Letter of Intent” to acquire a ferrous metal company in the U.S. The company expects to complete this acquisition during the fourth quarter of the current calendar year. Upon completion of the transaction, the company will consolidate revenue and profits of the acquisition company on its balance sheet. In addition, the company also noted that it has filed a notification with the SEC to withdraw the Form 10 Registration. The company has duly completed all its audits and plans to re-file after closing of the pending acquisition, which it believes to be in the best interests of the company’s shareholders.

Global Clean Energy Inc. (OTCMKTS:GCEI) also noted that it is in the midst of updating the company profile on SEDAR in Canada. The company expects that the cease trade order will be lifted shortly and it is in constant follow-up with the Authorite des Marche Financiers. The company also reported that it increased the authorized common shares to 750 million to allow for future expansion. The company noted that the increase in “authorized” shares doesn’t dilute existing shareholders.

Global Clean Energy Inc. (OTCMKTS:GCEI) is provides energy conversion solutions from waste materials, using the process it calls as R.E.S.C.U.E. (“Reforming Environmental Salvage into Clean Usable Energy”). The company caters to diversified industries ranging from rubber, plastics and PGMs (platinum group metals), offering recovery and alternative energy solutions. On its executive team, Dr. Earl Azimov serves as President and Chief Executive Officer of the company since April 2009. He brings nearly two decades of private equity experience. He is an accredited Commodity Trading Advisor and serves as board member of the PME start-up fund since 2003. He holds a Bachelor’s degree in Science and a Doctorate in Optometry.

© Copyright 2016 OTC News Magazine. All rights reserved.