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INSEQ Announces Equity Conversion Friday May 5, 10:47 am ET
NEW YORK--(BUSINESS WIRE)--May 5, 2006--INSEQ Corporation (OTC Bulletin Board: INSQ - News) today announced the reduction of its common shares outstanding by 3,000,000,000 shares due to the conversion by GreenShift Corporation (OTC Bulletin Board: GSHF - News) of its 80% stake in INSEQ into 1,000,000 shares new INSEQ Series D preferred stock. ADVERTISEMENT
The conversion will reduce INSEQ's common shares outstanding from 4,948,173,844 to 1,948,173,844 shares outstanding. Additional information on this conversion will be available in INSEQ's Form 8K filing which will be filed later today.
INSEQ also announced its intention to file a registration statement on Form S8 today for 600,000,000 common shares for issuance under INSEQ's 2006 Stock and Stock Option Plan.
INSEQ is 80% owned by GreenShift Corporation (OTC Bulletin Board: GSHF - News), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
About INSEQ Corporation
INSEQ Corporation is a publicly traded company whose mission is to directly facilitate the efficient utilization of natural resources including metals, chemicals, fuels and plastics. More information on INSEQ is available online at www.inseq.com.
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of INSEQ Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contact: INSEQ Corporation Investor Relations, 888-833-8689, ext. 291 Fax: 646-792-2636 investorrelations*inseq.com www.inseq.com or CEOcast, Inc. for INSEQ Corporation Andrew Hellman, 212-732-4300
-------------------------------------------------------------------------------- Source: INSEQ Corporation
Posts: 146 | From: Denver, CO, USA | Registered: May 2004
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