|By Marketwired .||
|June 23, 2014 08:15 AM EDT||
LARGO, FL -- (Marketwired) -- 06/23/14 -- Garb Oil & Power Corporation (OTC Pink: GARB) (PINKSHEETS: GARB) On June 18, 2014, the Company entered into a material contract, a Capital Lease Purchase Agreement for the Largo commercial property located at 1185 Gooden Crossing, Largo, FL. The agreement's purchase amount is $1,385,000 and the monthly lease amount is $7,000 for the 16,838 square feet portion of the property with $5,000 monthly being recognized as principal payments toward the total purchase price of the entire complex. As a capital lease, the full $1,385,000 will be recognized as an asset on the Company's balance sheet on the date occupancy begins. The commercial property site has a total of 55,785 square feet of Office and Warehouse space located on 2.51 acres of land for the Company to occupy 16,838 square feet of the space on or before August 1st. The 16,838 square feet of warehouse space that is currently being utilized by the seller that will be made available for occupancy is sufficient to house the Company's corporate staff, especially the office space required to fully staff the corporate Sales and Marketing Department. The available warehouse space being occupied is sufficient to warehouse and sell new truck tires. The term is for six months through January 31, 2015. Contractually the purchase is to be closed during the month of January 2015 to allow the seller to complete their Christmas Holiday seasonal sales period prior to moving.
Company management is negotiating to purchase a company that produces medical marijuana related paraphernalia products and generates profitable income to become a part of the Company's Medical Marijuana Division. The Company's on-site due diligence team is scheduled to travel to the targeted medical marijuana related paraphernalia products company prior to the middle of next month.
The $509,900 "As-Is" Asset Purchase for the Reddick, Florida industrial manufacturing property and remaining equipment to produce wood pellets continues to move forward to closing. An environmental inspection is scheduled for Wednesday, June 25, 2014. The title company has produced the title commitment for the property.
The Company is engaged in the interview process to add additional officers and directors to the Company during the audit process that is required to once again become SEC reporting and elevation above the OTC Pink Current Tier.
The Company has received a number of shareholder emails indicating confusion pertaining to the reverse split and other changes announced on June 16, 2014. The change in the number of authorized Company Common shares is not dependent upon the stated reverse split amount. The number of authorized Common shares was reduced from 50 billion to 75 million based on the Company's forecasted need of available Common shares to publically fund acquisitions to move the Company forward including elevating above the OTC Pink Current Tier. The change in the conversion rate of the Company Preferred Class B shares was viewed to be in the best interest of the Company and its shareholders considering prior to this change, had the change not occurred Preferred Class B shares would have continued to be converted without regard to the Common's trading price per share.
Tammy Taylor, company Chief Executive Officer and President stated "The reverse split applies to all common shareholders, including Garb management. Management intends to retain all shareholders after the reverse split through increasing assets, revenue and continuing to expand its business plan. Revenue will be the primary resource relied upon to move the company forward. We have continued to work tirelessly to put into place the building blocks necessary to transform Garb into a fully operating company."
About Garb Oil & Power Corporation
Garb Oil & Power Corporation, (OTC Pink: GARB) (PINKSHEETS: GARB), has a long company history in the fast growing industry of waste recycling and specifically related to waste-to-energy. Garb is organized 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. In addition to selling new tires, shredders and related recycling equipment, the Company's emphasis is for its own plants to produce profitable new and "green" solutions for waste-to-energy including the potential use of hemp, alternate energy sources, fuel enhancements, recycle fuel operations that utilize the fuel enhancement products, new equipment technologies that improve energy usage efficiency and utilizing recycled material in producing both useful and desirable products including wood pellets and medical marijuana paraphernalia.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements. These statements are based on current expectations and assumptions regarding future events and business performance and involve known and unknown risks, uncertainties and other factors that may cause industry trends or actual Company results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these statements. Although the Company believes that expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. All who read this press release should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Dec. 5, 2016 07:30 AM EST Reads: 958
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 5, 2016 07:30 AM EST Reads: 7,030
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Dec. 5, 2016 07:15 AM EST Reads: 1,250
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 5, 2016 06:45 AM EST Reads: 1,790
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 5, 2016 06:45 AM EST Reads: 1,591
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Dec. 5, 2016 06:45 AM EST Reads: 973
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 06:30 AM EST Reads: 692
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 5, 2016 06:15 AM EST Reads: 859
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Dec. 5, 2016 06:00 AM EST Reads: 1,678
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera MyS...
Dec. 5, 2016 04:30 AM EST Reads: 5,214
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
Dec. 5, 2016 04:15 AM EST Reads: 1,614
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
Dec. 5, 2016 04:00 AM EST Reads: 4,701
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Dec. 5, 2016 04:00 AM EST Reads: 5,406
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Dec. 5, 2016 04:00 AM EST Reads: 5,115
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 03:30 AM EST Reads: 652