posted
Four weeks ago, appears to be a turning point for this stock. Serious reporting, looks like a ground floor opportunity to me. Being honest, I am accumulating mainly because the stock looks like it has bottomed. Also enjoy good music. ............................................... GREM USA (OTC BB: GRMU, http://www.marketwatch.com/tools/quotes/quotes.asp?symb=grmu&vc=&siteid= mktw&dist=dropmenu)
GREM USA Commences an Immediate Share Buy-Back Program
GREM USA CEO Edward Miers is pleased to announce to shareholders the action by the Board of Directors approval to purchase up to 300,000,000 (three hundred million) shares of GRMU common stock in the open market. The August 4th, 2006 8-K filing outlines the details of the buy-back program with an estimated value of up to $1,200,000 (one million two hundred thousand dollars) over the next two years. This buy-back will commence on Monday August 7, 2006. Mr. Miers was quoted as saying, "The current market conditions and our recent business developments are such that buying our shares on the open market at these prices is a prudent use of corporate funds while adding shareholder value." Mr. Miers further stated, "We believe this strategy will also work toward GREM USA's eventual up listing to a larger exchange."
In further news the Company entered into a mortgage agreement in the amount of $440,000 at 9.75% interest with Interbay Funding, LLC. The financing has been collateralized by real property; and is also personally guaranteed by Mr. Miers. "Using a mortgage loan rather than other toxic financing options like convertible debentures or pipe financing shows we are serious about rapidly expanding and securing shareholder value through solid business decisions and a strong business model," stated Mr. Miers. "This will provide the Company with the necessary cash flow to begin immediate production and shipment of their product line." Mr. Miers continues to emphasize, "There will be no reverse split at this time and we see no need to increase the current share structure."
After the release of the 8-K filing on August 4th, Mr. Greg Reszel and Mr. Miers were interviewed by SubPennyRadio.com and stated, "On July 31st we delivered The Bill Leverty Free Radical to Bill and he loved it." The recording artist and lead guitarist of FireHouse was thrilled with his new guitar and during his exhaustive instrument evaluation said, "The sound is so sweet, I have to rerecord all the tracks on my upcoming album with this guitar. The GREM is just unbelievable and I can't describe the playability and sound. I haven't played a guitar as fine as the GREM in my entire 36 years of playing."
As stated in the July 4th press release, Bill Leverty entered into an exclusive endorsement agreement with GREM USA. Mr. Miers also said, "While we were in Virginia we visited the Richmond Guitar Center where Bill purchases the majority of his equipment and believes they are the premier music outlet in town." Jason Morris manager of the Guitar Center and his staff members were impressed by the quality of the six GREM guitars that were showcased by Bill Leverty in an impromptu jam session in the store. Several of the associates commented, "Of the approximate 500 guitars we offer these are by far the 'sickest' guitars we have ever played. They look cool, play cool and are just incredible instruments." The full August 4th interviews with Mr. Reszel and Mr. Miers will be available as a podcast beginning Wednesday August 9th from www.subpennyradio.com/interviews and www.gremusa.com .
It has come to GREM's attention that several stock promotional services are following GREM closely. GREM has not solicited, endorsed, or contracted with these companies and has no intention of doing so. Company information and updates are released through official channels deemed by the Company.
As stated by Mr. Miers, "I would like to thank everyone who has visited the factory and especially our long-term shareholders for their continued faith and patience as we continue to advance the Company forward. The new GREM USA website continues to evolve since its makeover in July and will continue to do so as GREM adds more features and exclusive artists while increasing the Company's presence in the custom guitar industry. The Company currently has six original guitar designs including 'The Bill Leverty Free Radical' and will introduce two additional designs this fall totaling eight original designs by GREM." Any interested parties are encouraged to visit the factory and schedule a tour for an opportunity to see the progress and achievements made thus far. Likewise, music store dealers, collectors, and music enthusiasts interested in purchasing the Company's custom handmade guitars are encouraged to phone the Company directly at 260-456-2354 or visit http://www.gremusa.com for more information.
About Guitar Center
Guitar Center is the leading United States retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. Our retail store subsidiary presently operates 187 Guitar Center stores across the United States. In addition, our Music & Arts division operates 94 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. We are also the largest direct response retailer of musical instruments in the United States through our wholly owned subsidiary, Musician's Friend, Inc., and its catalog and web site, www.musiciansfriend.com . More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com .
About SubPennyRadio
SubPennyRadio is a commercial-free, interactive broadcast offering listeners exclusive interviews with subject-matter experts, insight into enterprising companies, and detailed technical analysis. The show scans the trading field covering well-known companies to undiscovered market gems trading on the U.S. stock exchanges and OTC/OTCBB. SubPennyRadio encourages "better investing" by highlighting common characteristics of stocks on the verge of a breakout in their particular industries. Emphasis is on due diligence that include reviewing charts, SEC filings, and news events. For additional information visit: http://www.subpennyradio.com .
About GREM USA
GREM USA is a development stage company focusing on design and manufacture of custom handmade and mass-produced electric and acoustic guitars, amplifiers and accessories. For more information, please contact Edward Miers, Chief Executive Officer, phone 260-456-2354. http://www.gremusa.com and additional designs can be viewed on the Greg Reszel website at http://www.gmreszel.com
-------------------- Patience - works best with non-penny stocks
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