Published On: Fri, Mar 24th, 2017

Net Savings Link Inc (OTCMKTS:NSAV) Says No Plan For Reverse Split

Net Savings Link Inc (OTCMKTS:NSAV) reported in response to many shareholder inquiries, that the firm is positively not planning or even seeing a reverse stock split. Since the existing management took over last year in February, the company imposed a strategy of establishing the firm from the scratch and reverse stock splits are nearly always harmful to shareholders.

The update

Net Savings reported the status of an intended 8-K filing. Its attorneys have advised that the objective of an 8-K submission to post material events, such as stock splits, acquisitions and other linked activities and as none of those measures have occurred, no 8-K submission is required or wise and this press release will work as an update to the investors.

As company is under new management and venturing into the growing medical marijuana market, it will keep its shareholders informed of all required updates with a minimum of a comprehensive press release every week and 8-K submissions as and when required.

Net Savings also reported a clarification of its authorized, issued and due shares. In July 2015, the previous management and a majority of the firm’s shareholders allowed an increase of the authorized shares to 10 billion from 3 billion, as the company reported available shares less than 100,000. The existing management was not involved with this investors vote.

Further, the firm, after being notified by an investor earlier in March that its transfer agent informed of a share increase of almost 150 million shares, communicated with the transfer agent for explanation twice, first on March 8 and then on March 10. The same investor again approached on March 13, when the transfer agent established a new issuance around 149 million shares.

Net Savings learned of this stock issuance at the start of business on next day, March 14. The firm’s president immediately approached the transfer agent and asked how this stock issuance occurred without the management’s approval or knowledge. That time, it was known that this issuance was already approved by the previous management.

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