|By Marketwired .||
|February 27, 2014 12:05 PM EST||
LARGO, FL -- (Marketwired) -- 02/27/14 -- Garb Oil & Power Corporation (OTC Pink: GARB) After spending the last several months working on several fronts, current Company Management is proud to announce two significant Company milestones have been accomplished as part of the Company's reorganization within its new business plan:
- The Company's OTC Initial Filings have been submitted to OTC Markets; and
- The Company has entered into a revenue-generating Collaborative Effort with Shredderhotline.com Company.
Now that the Company's OTC Initial Filings have been submitted to OTC Markets, we await their review and approval to move the Company up to the OTC Markets, Pink Current public company tier. The filings are available on the website of OTC Markets, OTCPink: GARB, Filings & Disclosure tab.
The Collaborative Effort with Shredderhotline.com ("CE") is a portion of the current Company Management's building and execution of a solid business plan to generate immediate revenue. The CE is disclosed in one of the Company's aforementioned OTC Initial Filings: the Consolidated Financial Statements for the Two Years Ending December 31, 2013 and 2012, Notes to the Consolidated Financial Statements, Note 11 - Subsequent Events. Highlights of the CE include the following Contributions by each company:
Business and relationship/assets of Shredderhotline.com ("SHLDC") being contributed to the CE:
1. Customer database to purchase Shredder Equipment and related sales/services as further detailed below. 2. Full Line of Shredder Equipment including Patents, Design and Manufacturing plus related sales operations as detailed below. a. The Genox Line of Equipment b. The Eidal Line of Equipment c. Shredderhotline.com online sales, parts and service d. The Setup, Service and Operation of Recycling Plants 3. Expandable Business Model including Global Sales Capabilities. 4. Founder and head of the company, Dan Scott Burda, to be an advisor to GARB pertaining to the CE. 5. Long history in the Shredder and Recycling Industries.
Business and relationship/assets of the Company being contributed to the CE:
1. Access to public debt and equity financing specifically for GARB acquired contracts provided through SHLDC. 2. New Experienced, Committed Long Term Corporate Management and Advisors. 3. Tammy Taylor, Chief Executive Officer and Director of GARB, or her assigns, to oversee on GARB'S behalf all aspects of the CE. 4. Long history in the Shredder and Recycling Industries.
Other pertinent parameters and understandings of the CE include:
- An amendment was added at the insistence of SHLDC that the CE discontinues if Tammy Taylor does not remain the primary Company contact to the CE.
- It is understood by both Parties that the contributions by SHLDC to the CE will be over time. SHLDC'S CE contributions complete a Stock Purchase Agreement's assets transfer.
- The CE will be operated through a newly formed State of Florida incorporated wholly owned subsidiary of the Company. The subsidiary that has been incorporated in the State of Florida for this purpose is Garb Global Services, Inc.
- The current Company Management will assure that the Company's own product sales and services do not directly conflict, or are in direct competition with, the CE'S product sales and services.
Tammy Taylor, company Chief Executive Officer and President, stated, "The current Garb team has worked tirelessly to make these corporate milestones a reality once we took over the reins of the Company six months ago. This same drive that has accomplished these major company achievements will continue until the Company has been reorganized and transformed into the fully operating company our business plan envisions it can be."
Dan Scott Burda, Shredderhotline.com Company founder and head, stated, "The Burda Family and Garb's original founder, John Brewer, pioneered the industrial shredder industry beginning in the early 1970's. I envisioned leaving my family legacy in the shredder and recycling industry into capable hands of a public company so that it will have a better chance to survive well beyond my life time. Garb Oil & Power is the public company I had hoped would be that public company. During our long preliminary discussions with Tammy, we concluded that her honesty, integrity and professional business capabilities met our required attributes of the type of person who can lead a public company that we had sought where we wanted to leave our families' business legacy to."
About Garb Oil & Power Corporation
Garb Oil & Power Corporation, (OTC Pink: GARB), has a long company history in the fast growing industry of waste recycling and specifically related to waste-to-energy. Garb has reorganized to utilize both next-generation machines and new technologies, including those contributed to the Company by the Burda Families, to vertically integrate into the waste refinement, recycling and energy industries. The revised company emphasis is in profitable new and "green" solutions for waste-to-energy, alternate energy sources, gas drilling, fuel enhancements and improving energy usage efficiency.
Garb's strategy is to build its own plants and sell the high value products that Garb's new cost effective processing technologies allow it to produce. Several technologies and products are under review with Garb's new strategic alliances include the following.
- Specific food waste to energy and other of its potential green technology uses.
- Alternate energy sources beyond today's widely publicized options.
- Fuel enhancements to increase efficiency and decrease pollution.
- Recycle fuel operations that utilize the fuel enhancement products.
- New equipment technologies that improve energy usage efficiency.
Investor Relations Contact:
Garb Oil & Power Corporation
888-573-6622, Ext. 1
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