GBX International Group, Inc. Nears Completion of Extensive Corporate Review and Reorganization in Preparation for Transition to New Core Business Model
GBX International Group, Inc. (OTC PINK:GBXI) has filed a Supplemental Information report detailing its ongoing corporate review and restructuring as it shifts to a new core business model. This review, prompted by a recent asset acquisition, includes a management team overhaul and a financial audit, revealing past discrepancies in financial records. These corrections are expected to enhance the company's Balance Sheet significantly. GBXI now aims to assist local merchants and small businesses in customer acquisition and profitability through a unique marketing system.
- Restructuring management team to align with new business model.
- Discovery of past financial discrepancies likely to improve Balance Sheet.
- New focus on helping local merchants and small businesses with customer acquisition.
- Presence of previous incorrect financial entries indicates possible past mismanagement.
- The ongoing review may create uncertainty regarding current financial stability until finalized.
NEWPORT BEACH, CA / ACCESSWIRE / October 22, 2021 / GBX International Group, Inc. (OTC PINK:GBXI) has filed a Supplemental Information report with OTC Markets describing its ongoing corporate review and reorganization efforts as it prepares for transition to its new core business model. The review was initiated following the company's recent asset acquisition and includes both a restructuring of the company's management team as well as an historical review of the company's financials, both of which are now on track to be completed and reported within the next few weeks. While the review has not yet been completed and no specific details have been released, the company has revealed that it has discovered a number of incorrect entries in the company's books dating back to filings made by previous management that will require updates and revisions, and that these revisions will likely result in a significant improvement in the Company's Balance Sheet.
As part of its restructuring, the company has changed its name to GBX International Group, Inc. transitioned to an entirely new business model, and begun building a new management team to execute its new vision. GBXI is now a marketing and customer acquisition company focused on assisting local merchants and small businesses in expanding their customer base, maximizing their sales efficiencies and increasing their profitability. The company provides local merchants, entrepreneurs and charities with a unique marketing and advertising system that includes online tools, marketing materials and expertise that can help merchants and charities increase their customer bases.
ABOUT GBX INTERNATIONAL GROUP, INC.
GBXI is a marketing and customer acquisition company focused on assisting local merchants and small businesses to expand their customer base, maximize their sales efficiencies and increase their profitability. GBXI provides local merchants, entrepreneurs and charities with a unique marketing and advertising system that includes online tools, marketing materials and expertise that can help merchants and charities increase their customer bases, develop more repeat customers and expand their buying and giving communities. GBXI also offers local merchants discounted credit and debit card processing services provided by third party processors and earns income on ongoing transactions occurring at those locations.
For more information and updates about GBX International Group, Inc. visit https://gbxintl.com or email ir@gbxintl.com.
Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the SEC.
Contact:
GBX International Group, Inc.
Investor Relations
ir@gbxintl.com
SOURCE: GBX International Group, Inc.
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