GNCC CAPITAL, INC. UPDATES AHEAD OF NEXT WEEK'S ANNOUNCEMENTS

Rhea-AI Summary

GNCC Capital, Inc. (GNCP) reassures shareholders regarding their recent press release, emphasizing commitment to transparency. The company will soon file its Q1 Report to remain a PINK CURRENT Issuer and prepare for significant announcements. Recent conversions by Preferred Stockholders have led to 63.51% potential support among voting Common Stock. Directors highlight a possible change of control with major shareholders and caution against quick returns. Additionally, only 33.125% of outstanding Common Stock is deposited with the DTC, with some shares traded at $0.0002.

Positive

• Directors secured potential support of 63.51% among voting Common Stock.
• Upcoming Q1 Report filing will maintain PINK CURRENT status.
• Possibility of change of control with major shareholders noted.

Negative

• Share trading declining significantly, raising concerns.
• Directors caution against expectations for quick returns on investment.

LAS VEGAS, Feb. 3, 2022 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCP") refers to their Press Release dated January 21, 2022 and we reiterate that your Directors remain fully committed to their decisions, conclusions and to their general commentary as stated in that Press Release. For ease of reference, we provide this link to this Press Release: https://www.otcmarkets.com/stock/GNCP/news/GNCC-CAPITAL-INC-SETS-OUT-ACTIONS-TO-BE-UNDERTAKEN?id=340129

A number of our shareholders indicated that they were "confused" as to the contents of that Press Release. Your Directors hereby advise and indeed caution our shareholders that next week's Announcements will leave zero room for any confusion of whatsoever nature. Your Directors appreciate and understand that any shareholder of any Company hopes for a large percentage return on their investment and in a very short period of time. However as all experienced investors are acutely aware; this is rarely achieved and that only patience and proper due diligence is rewarded over time in any equity investing. In your Directors opinion, we are not going to be promising nor providing instant gratification but we will be providing our shareholders with a solid and sustainable path forward with a fairly significant improvement over our previous public statements and actions.

On a different note, your Directors will be filing our Q1 Report (to December 31, 2021) with the OTC Markets very shortly given that it is due by March 15, 2022. This is necessary to remain as a PINK CURRENT Issuer on the OTC Markets.

We are providing certain material updates ahead of next week's announcements which will clearly, decisively and finally set out your Company's path forward.

1. That following a conversion by three Preferred Stockholders into voting Common Stock; your Directors already have the potential support of 63.51% of the Company's outstanding voting Common Stock*. Shareholders are aware of these conversions and the subsequent increase in the amount of outstanding Common Stock as we provided this information on our OTC Market Profile.
   
   
   As at today's date, your Directors are now able to deal directly with these shareholders in order to secure support for transactions subject to the below-mentioned*.
   
   
   *Support from these shareholders will solely depend upon any resolutions placed before them. They all do share your Directors' and the general body of shareholders' interests; that being transaction closures and an improvement in your Company's stock price. That being said, these shareholders are what your Directors refer to as "long term and patient money" whom understand that quick returns are not achieved overnight.
   
   
2. As all shareholders are aware of for many years, your Directors are legally obligated to honor any all Conversion Notices served upon them by the Preferred Stockholders. The latest conversions were undertaken by astute Preferred Stockholders given your Company's current share price. However, these shareholders are now able to exercise their votes as Common Stockholders.
   
   
3. As many shareholders are aware, your Directors elected to enter into what we refer to as a "quiet period" whereby we were not prepared to address any individual shareholder requests for information nor to comment upon their opinions. We are only prepared to comment through Press Releases and/or Regulatory Filings. This "quiet period" policy will cease post next week's announcements. 

At this point, your Directors are not considering any current bids which would result in a buyout of the Company. We are not ruling out a possible change of control with one or two shareholders whom provide "financial muscle" holding the large majority of our outstanding Common Stock, very likely through the acquisition of a large amount of all of the existing issued shares of our Common Stock in "off market" transactions. These would only be shares already issued but not deposited in the DTC.

Any such transaction(s) would very likely include the amount shares already issued and totaling (and as at today's date), some 32.86% of your Company's outstanding Common Stock. Premier Development & Investment, Inc. is not a seller of any shares of our Common Stock, they elected to continue to provide us with working capital and to remain as a passive long term shareholder.

Finally, given innumerable E Mail correspondence, we can categorically state that the latest Preferred Stock conversions have not resulted in any sales by these shareholders whatsoever; this shareholders may verify with our Transfer Agent. Your Directors are of the opinion that the general body of shareholders should focus upon Common Stock actually deposited at the DTC and not upon the number of our Company's Issued and/or Authorized shares of our Common Stock.

As at today, 33.125% of the outstanding Common Stock is on deposit with the DTC. Your Directors are very aware that some 10% of this TOTAL "free float" is on offer at $0.0002 with an equivalent being bid for at $0.0001; coupled with dramatic declines in the amount of our shares being traded. This in our personal opinion, is rather peculiar and hopefully will be rectified. We will not comment upon allegations that our Company's Stock is being "cellar boxed" given that your Directors have seen no proof whatsoever to substantiate these allegations.

Finally, we are now going to address to a very outstanding and as yet unaddressed issue to your Directors. To those whom choose to constantly bombard your Directors with filthy, unspeakably vile and indeed threatening E Mail correspondence and for many months now; you are achieving nothing. You are simply hardening your Directors resolve and in respect of a very wide range of issues. Out of respect to our silent and patient shareholders, your Directors will certainly not permit the actions of these few to in any way affect any of your Directors decisions nor their actions. Your Directors are fully aware that those whom choose to engage in these "tactics" do not speak for the "silent majority"; and that in our opinion, being the majority of our many shareholders.

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.

Contact Information:
GNCC CAPITAL, INC.

Telephone: (702) 990-0156

Investor Relations Contact:

E Mail: investor@gncc-capital.com
Twitter: https://twitter.com/gncccapital

 

View original content:https://www.prnewswire.com/news-releases/gncc-capital-inc-updates-ahead-of-next-weeks-announcements-301474612.html

SOURCE GNCC Capital, Inc.

FAQ

What is the recent update from GNCC Capital (GNCP)?

GNCC Capital has assured shareholders of their commitment to transparency and is preparing significant announcements, alongside filing their Q1 Report.

How much support do directors have from shareholders for GNCP?

Directors currently have potential support of 63.51% among voting Common Stock after recent conversions.

What is the current state of GNCP's stock trading?

There has been a significant decline in GNCP's stock trading, with shares on offer at $0.0002 and bid at $0.0001.

When is GNCC Capital's Q1 Report due?

The Q1 Report for GNCC Capital is due by March 15, 2022, to maintain its PINK CURRENT Issuer status.

Are there any plans for a buyout of GNCC Capital?

Currently, GNCC Capital directors are not considering any buyout bids but are open to a possible change of control with major shareholders.