COCONUT CREEK, Fla., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Global Consortium, Inc., (OTCPINK: GCGX) would like to announce major changes taking place within the company.
Our Current CEO Matthew Dwyer, is stepping down and will have no further involvement with the Company effective sometime in January of 2021 due to health reasons.
The Company has been actively looking for a new CEO to take over in January when Mr. Dwyer steps down. The main concern of potential replacements is that GCGX is not audited. This will need to be addressed prior to anyone willing to assume the position.
Over the new next two months GCGX will be working with an accountant who previously worked on getting the 2015-2017 financials of GCGX audited. Since he is familiar with the Company, we hope to have the financials audit ready before the end of the year. The new CEO will oversee the audit and registration of GCGX.
In order to get the Company ready for an audit or registration, GCGX needed to take care of some open Corporate issues. GCGX has filed to raise the Authorized with the State of Nevada so that the Series A Preferred can be converted to Common stock. The conversion was to take place immediately after the Merger in October of 2018. There are also shareholders that have not presented their old shares for exchange with GCGX shares, therefore GCGX shares have to be held in “reserve” to allow them to complete the exchange.
The new CEO will supervise the launch of the Indulge App next year as they guide the Company. The outlook for GCGX and Indulge in 2021 is very bright. There will be a new person running the Company, the financials will be audited and sometime during the first 6 to 9 months the registration should be effective. All of these things will have a positive impact on the Company and its ability to move forward.
About Us:
Global Consortium, Inc., owns the brand Indulge Oils which is being manufactured and sold in California.
Global Consortium, Inc., in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg. FD.
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, the release of corporate apps, growth of the platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk.
Details of the Company's business, finances, appointments, and agreements can be found as part of the Company's continuous public disclosure on otcmarkets.com.
For additional information about this release please contact:
Investor Relations:
www.GCGX.ORG
info@GCGX.ORG
Twitter: @Global_GCGXOTC
954-906-0098