General Environmental Management, Inc. Provides Shareholder Update

Rhea-AI Summary

General Environmental Management, Inc. (GEVI) has announced several key developments in a recent shareholder update. Jason Tucker was appointed as CEO in December 2020 and will lead the company as it redomiciles from Nevada to Delaware, facilitating the elimination of historical debts. The company plans to reduce authorized shares and aims to complete audits to meet reporting obligations in the next 45 days. Management is optimistic about upcoming mergers involving unique assets and intends to bring in a new management team. Further updates will follow as progress is made.

Positive

• Appointment of Jason Tucker as CEO, bringing 15 years of relevant experience.
• Redomiciling to Delaware allows for extinguishing historical debts, ensuring an undiluted capital structure.
• Plans to reduce authorized shares may positively affect shareholder value.
• Management confident about mergers that could enhance shareholder value.

Negative

• None.

MIDDLETOWN, DE / ACCESSWIRE / February 5, 2021 / General Environmental Management, Inc. (OTC PINK:GEVI), "the Company", is pleased to provide a shareholder update.

On December 22, 2020 Jason Tucker was appointed as CEO and Director. Mr. Tucker has 15 years experience in Business Development, Project Management, Account Management and Sales Engineering.

Following the appointment of Mr. Tucker, the Company redomiciled from Nevada to Delaware in January 2021. The Company's move from Nevada to Delaware was done for the sake of utilizing laws unique to Delaware that will allow the Company to divest itself and extinguish any historical debts and liabilities. These actions will ensure that Company's capital structure will remain un-diluted.

During this process, the Company further intends to effect a name change which will be disclosed at a future date.

The Company has identified unique assets to merge in which will ultimately include bringing on additional management and personnel as well. The incoming team consists of internationally known celebrities that will be identified once financial audits are complete. Management is confident that the direction and sector the Company is targeting will vastly increase shareholder value.

Finally, the company will be reducing the authorized shares and is expecting to be audited and back in good standing with its reporting obligations within the next 45 days.

Stated CEO, Jason Tucker: "I'm very pleased to pursue this opportunity in GEVI and look forward to sharing the exciting direction the company is heading. We will continue to provide regular updates on our progress."

Forward Looking Statements:

This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact:
Jason Tucker - 908-312-1014

Twitter:
@GEVI_CEO

SOURCE: General Environmental Management, Inc.

View source version on accesswire.com:
https://www.accesswire.com/628038/General-Environmental-Management-Inc-Provides-Shareholder-Update

FAQ

What recent changes has GEVI made in its management?

Jason Tucker was appointed as CEO and Director in December 2020.

Why did GEVI move its headquarters from Nevada to Delaware?

The move aims to utilize Delaware laws to divest historical debts and liabilities.

What are GEVI's plans regarding authorized shares?

The company plans to reduce the authorized shares to improve its capital structure.

When does GEVI expect to be back in good standing with reporting obligations?

GEVI expects to be back in good standing within the next 45 days.

What kind of new management does GEVI plan to bring in?

The company aims to bring in management that includes internationally known celebrities.