Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

E-Waste Systems Inc. : E-Waste Systems Announces Executive Share Exchange Plan

08/01/2013 | 06:18am US/Eastern
E-Waste Systems Announces Executive Share Exchange Plan

CEO Leads Effort to Exchange Common Shares for Preferred and Options

London, UK. - 31 July 2013 -- E-Waste Systems, Inc. (OTCQB: EWSI) (the "Company"), an electronic waste management, reverse logistics and management services company, announced a share exchange plan targeted to release common shares to facilitate growth.
The Company announces an exchange of accrued compensation or existing common shares among company management and key consultants and advisors for a combination of preferred shares and common stock options (the 'Exchange Plan').
"This plan is strong statement of management's commitment to our company's future. This action is designed to show our shareholders that we are strongly focused on building long term shareholder value," stated Martin Nielson, CEO and founder of EWSI. "We have implemented very aggressive growth plans, the results of which are only now beginning to be visible. This Exchange Plan supports our growth and follows our recently announced 2013 business and finance plan (Summer update). The move strengthens our Company's balance sheet and provides additional performance-based incentives to our key managers." added Mr. Nielson.
EWSI recently published an update to its business plan with the addition of a more careful outline of its financial strategy. The Exchange Plan, will be issued only to executives or consultants who are Qualified Investors, and calls for an exchange of issued common shares or accrued compensation for a mix of either Series A or Series B Preferred stock plus fully vested options together with an agreement that none may be converted into issued common shares until at least the end of the 1st Quarter 2014. The plan will enhance common shareholder equity by providing a capital raising structure to support expansive growth, capital raising and business development.
Details of the new Series B Preferred stock were filed with the SEC on Form 8K and can be viewed on the Company's website. The Exchange Plan will be confirmed by filings with the SEC. Upon completion, the number of common shares issued and outstanding is expected to be reduced by as much as 20-25%.
"Everything we do is according to a plan. Building our global brand, expanding our technology and accelerating our revenues all require a solid financial foundation. This is part of building that foundation and will be followed by additional important elements as the year progresses." added Mr. Nielson.

Industry Expansion

The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Advisors), excluding much of the resale of still usable goods that flood the marketplace
as new updates in software and hardware are released. Furthermore, as environmental legislation and policies sets more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The
benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals,
and reduction of energy requirements.

About E-Waste Systems, Inc.

E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI targets companies facing regulatory or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, and providing a truly global e-waste solution. Additional information, including the business plan summary, is available on the Company's website: www.ewastesystems.com.
For more information as it happens, follow @EWasteSystemsIn on Twitter, Facebook, and
LinkedIn. Or contact Investor Relations at: ir@ewastesystems.com

Safe Harbor Statement: Certain statements and information in this release constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward -looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
distributed by
React to this article
Latest news
Date Title
<1m ago MICROSOFT : Polytechnic signs software agreement with Microsoft
<1m ago CARGOTEC : MacGregor signs Pusnes mooring system contract with Shell
1m ago HURRICANE ELECTRIC : Continues To Expand Global Internet Backbone Across Europe With Sixth German Point of Presence at Interxion Dusseldorf
1m ago REDWOOD : Announces Intention To Maintain Dividend At $0.28 Per Share Per Quarter In 2015
1m ago INFOBLOX : Introduces Free Product Evaluation to Find the DNS Footprints of Cybercrime Inside Enterprise Networks (You’ve Got Malware)
2m ago VERONA PHARMA : Appoints Ebsworth Chairman To Replace Founder Page
2m ago DEUTSCHE TELEKOM : Accelerated demand for Zenterio’s independent operating system
2m ago CONTEXTVISION PUBL : files patent on skeleton imaging
2m ago TOSHIBA : Westinghouse Inks Multi-Party Agreement to Develop Nuclear Power in Turkey
2m ago WARP 9 : Completes Mobile E-Commerce Site for International Fashion Designer
Latest news
Advertisement
Hot News 
AVINGTRANS : Revises Down Expectations On Demand Drop, Contract Delays
VECTURA : *traders: barclays raises vectura group price target to 180 (175) pence
HARGREAVES LANSDOWN : *traders: citigroup cuts hargreaves lansdown to 'sell' ('neutral')
OPHIR ENERGY : Sona's plan scuttled?
BHP BILLITON : Announces Cost Cutting Plans, Rejigs Management
Most Read News
1d ago MANCHESTER UNITED : Red Devils Believed to Have Agreed Herrera Deal
1d agoDJYear-Old Messaging App Yik Yak Draws Big Valuation
1d ago PEARSON : chief promises a big push into China's education sector
1d ago VOLVO : Being itself by being different gives Volvo Scandinavian edge
1d ago VOLKSWAGEN : moves forward with dynamic young image
Most recommended articles
4m ago CP Group says keen to buy Tesco's Thai operations if put up for sale
11m ago OPHIR ENERGY : Salamander backs Ophir takeover offer
17m agoDJASTRAZENECA : EU Approves AstraZeneca Pulmonary Disease Inhaled Treatment
18m ago DOW CHEMICAL : CEO says not quitting Kuwait, but shifting strategy
23m ago Crude Oil Bounce Gains Traction, US Dollar and SPX 500 Aiming Higher
Dynamic quotes  
ON
| OFF