Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/01/2013 | 12:18pm CEST
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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
11:56a Global Radio Frequency Identification Market 2016-2020 Datalogic - Key Vendors are Honeywell International & Zebra Technologies
11:55a CONNEMARA MINING : Says Drilling Underway At Inishowen Gold Target
11:55aDJBOEING : Airbus Ponders How to Blunt Boeing Range Advantage
11:54a Dana, Etisalat push ADX to fall at open
11:54a DUBAI PARKS AND RESORTS PJSC : Subscriptions put pressure on UAE markets
11:54a DFM down on blue chips at open
11:54a HALFORDS : turnaround starts to take effect
11:54a GOALS SOCCER CENTRES : New Goals chief Goals Soccer
11:54a ALLIANCE : Trusts in talks over £5bn
11:54a PHOENIX : Axa to offload pensions arm
Latest news
Advertisement
Hot News 
MATICA TECHNOLOGIES : launches S3200 printer for financial flat card issuance
HARBOURVEST HVGPE : HVPE Announces Audited Results for Year Ended 31 January 2016
MINCO : Swings To First-Quarter Loss On Foreign Exchange Loss
PROTON POWER SYSTEMS : Wins Seven-Year Fuel Cell Deal In Germany
SIERRA RUTILE : Total Voting Rights and Block Listing Six Monthly Return
Most Read News
05:14a Brent crude lower on strong Middle East oil output
05/30 MOPHIE : expands wireless charging line with new ecosystem for leading mobile devices
Most recommended articles
05:55aDJBOEING : Airbus Ponders How to Blunt Boeing Range Advantage
05:46aDJEurozone Remains in Deflation
05:46aDJJazz Pharmaceuticals Agrees to Buy Celator for About $1.5 Billion
05:32aDJMajor Bourses on Track to end Month Sharply Higher--Update
05:31a FTSE index edges lower as miners slip