Flint, MI, August 17, 2016 --(PR.com
)-- The special committee will identify, consider, negotiate, and potentially implement strategic alternatives reasonably available to GEIG, including, but not limited to, sales of GEIG technology, joint ventures, recapitalization, and a sale or merger of the company. There can be no assurance that any transaction will occur.
Contrary to the press release dated 12/08/15, Zarvic did not agree to be acquired by GEIG. The deal never transpired.
The reason for the formation of a special shareholder committee is to explore strategies to enhance shareholder value. Zarvic's assessment is GEIG has been mismanaged for a long time, and in the event GEIG does go into bankruptcy, Zarvic will ask the authorities to appoint the shareholder committee.
Cautionary Information About Forward Looking Statements
Statements in this press release, including forecasts or projections that are not historical in nature, are intended to be, and are hereby identified as, forward-looking statements for purposes of the private securities litigation reform act of 1995. The words “believe”, “estimate”, “evaluate”, “expect”, “forecast”, “initial”, “intend”, “plan”, “potential”, “project”, “should”, “tend”, “will”, and similar expressions are intended to identify forward-looking statements. These statements about the company may relate to its businesses and prospects, planned capital projects and expenditures. Estimates regarding recoverable resource potential, revenues, expenses, and operating cash flows, future values, the strategic alternatives review process and other matters that involve risk and uncertainties.
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