|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.
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Aug. 30, 2015 12:00 PM EDT Reads: 247
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
Aug. 30, 2015 11:00 AM EDT Reads: 156
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
Aug. 30, 2015 10:30 AM EDT Reads: 425
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 30, 2015 10:30 AM EDT Reads: 860
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Aug. 30, 2015 10:15 AM EDT Reads: 208
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Aug. 30, 2015 10:00 AM EDT Reads: 327
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Aug. 30, 2015 10:00 AM EDT Reads: 215
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
Aug. 30, 2015 09:45 AM EDT Reads: 178
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Aug. 30, 2015 09:15 AM EDT Reads: 601
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Aug. 30, 2015 09:15 AM EDT Reads: 432
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Aug. 30, 2015 08:45 AM EDT Reads: 334
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Aug. 30, 2015 08:45 AM EDT Reads: 155
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
Aug. 30, 2015 08:45 AM EDT Reads: 565
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
Aug. 30, 2015 08:30 AM EDT Reads: 385
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Aug. 30, 2015 07:15 AM EDT Reads: 494