GNCC Capital, Inc. Provides Update
GNCC Capital provides a shareholder update via a letter dated May 27, 2021, assuring no changes in planning or objectives. The Company acknowledges overwhelming inquiries and emphasizes a self-imposed quiet period for two to three weeks to address issues. GNCP commits to filing material transactions promptly and stresses legal restrictions on sharing specific information. The Directors express optimism about ongoing negotiations, seeking resolutions by month-end, June 30, 2021. Forward-looking statements are included, highlighting risks and uncertainties that may impact results.
- Directors express optimism regarding multiple ongoing negotiations.
- Commitment to concluding transactions by June 30, 2021.
- Failure to meet previously promised deadlines caused stress among Directors and shareholders.
- Inability to provide individual shareholders with updates on material events.
LAS VEGAS, June 17, 2021 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCP") filed the Chairman's Letter on May 27, 2021 in order to bring our shareholders an up to date "snapshot" as well as discussing the Company's forward planning.
A Link to this Letter: https://backend.otcmarkets.com/otcapi/company/financial-report/285347/content. We again strongly encourage our shareholders to take the time to read our Letter in order to assess and to consider their investment decisions, in respect of our Company.
In this letter Dated May 27, 2021, we requested as follows:-
"We have elected to enter into a self-imposed quiet period for some two to three weeks in order to deal with as many of the issues as are set out in this Letter. We will not be publishing any Press Releases, using Social Media (Twitter) nor issuing any statements during this period. We will be very happy to continue to answer shareholder communications to clarify and to explain any issues provided that they are not of a non-public and material nature."
We honestly are very grateful for all of the enthusiasm and encouragement from our shareholders. However, we were so overwhelmed by inquiries; that we felt obligated to issue this Press Release and simply in order to assure our shareholders that nothing has changed post our last public communications nor any amendments to our planning and objectives as set out in our Chairman's Letter.
Whilst we are truly grateful for just so much input from our shareholders; we have to stress that we are not permitted by law, to comment to any individual shareholders on any material events, as the status of various negotiations; nor upon any transactions currently undergoing our due diligence and/or currently under negotiation.
At this point, we are inundated with innumerable negotiations and in respect of all of our previously and publicly stated objectives. No, we are not committing to any specific dates; that did not work for us due to our previous and current reliance upon numerous third parties. Our failure to meet promised deadlines only resulted in severe stress to both of your Directors and to our shareholders.
We can confirm that any and all material transactions consummated are legally required by ourselves to be filed and publicly disseminated with all material details and upon the OTCIQ. This is generally accepted to be within 3 (three) business days; in your Directors' Opinion and based upon your Directors' interpretation of the OTC Market Rules pertaining to "Material Events". As Material Events are consummated; they will be filed immediately; endless Press Releases are not required; just closures on our part and on a number of fronts.
On another note, we as your Directors truly appreciate the enormous interest and for lack of a better adjective, the "thirst for immediate information"; we truly appreciated; however we are following our stated strategy and objectives and as outlined to our shareholders.
Whilst we truly understand the desire for more information immediately; your Directors must stress that we (as your Directors) must ensure that all and/or any transactions and corporate actions being negotiated; are consummated before commenting publicly. To issue any public statements with specifics and in respect of our ongoing negotiations could very well prejudice our negotiating position in these various transactions.
Your Directors sincerely hope that this communication will allay any concerns and/or "time based anxiety" amongst certain of our shareholders; whose communications to ourselves indicate the same; this we are seeing on a daily basis.
Again, your Directors stress, please feel free to reach out to us on E Mail and we will as always, respond timeously. No, as above-mentioned, legally we cannot disclose any material information until any such information is in the public domain. We respectfully request that our shareholders appreciate the legal restrictions imposed upon ourselves as your Directors.
As discussed in our Chairman's Letter, these are exciting times for your Company and we frankly admit that are many years overdue in our addressing it. Needless to say, we previously were not in any position to address any of these issues and for what has been an extended period of time. Our position as set out in the Chairman's Letter remains unaltered and we are not contemplating any amendments to our stated planning nor upon our execution.
It is very likely, but again, we are not committing to this; that we may very well be in a position to provide our shareholders with further and far more detailed information by as early as late next week.
We end this update and with the following statement and solely in order to avoid any absence of doubt:-
"Your Directors are committed to ensuring that these transactions are concluded. We are aiming for conclusions before this month (and the Quarter) end date; being June 30, 2021. We are committed to swift resolutions and the closing of our negotiations at this point of time. We, as your Directors believe that we are in a very strong position, primarily based upon our stock price and the trading volumes for over some 4 months now. We are fairly inundated in offers and the aforesaid is definitely facilitating previously unachievable goals for our Company in all of our various transactions and negotiations."
Forward Looking Statements:-
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions.
The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.
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SOURCE GNCC Capital, Inc.
FAQ
What is GNCC Capital's update for shareholders as of June 2021?
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Are there any legal restrictions on GNCC Capital regarding shareholder communication?
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