Cresco, PA -- March 28, 2017 -- InvestorsHub NewsWire -- Net
Savings Link, Inc. (OTC:
NSAV) announced today that the Company has cancelled 3.0
billion shares of its common stock that had been pledged to KBM
Worldwide in a settlement negotiated by the Companys previous
management. The Company took this action as these shares were part
of an agreement between NSAV and its former management and China
Food and Beverage Company (OTC:CHIF). The agreement expired on June
30, 2016 and is now null and void. The Company feel that this
action is in the best interest of NSAV and it shareholders.
Further, in the Companys 8-K filed on June 14, 2016, it stated
that the former president of NSAV sold his preferred shares to the
Companys current president, James Tilton, thereby giving Mr. Tilton
voting control of NSAV. Mr. Tilton, who owns no shares or options
of the Companys common stock, has pledged to transfer these
preferred shares of NSAV to China Food and Beverage Company for no
consideration. The attorneys for both companies and Mr. Tilton are
preparing the paperwork for this transfer and hope to complete it
as soon as possible. Mr. Tilton is also the president and one of
three directors of China Food and Beverage Company. Mr. Tiltons
preferred shares are not convertible to common stock, only voting
rights. Therefore, this transfer will not result in a single share
of dilution for NSAV shareholders.
The Company also announced that the final decision on how many
of the additional 2.5 billion of its authorized shares, which have
been placed on hold for possible cancellation,
will be announced at the end of this week or early next week.
The Company wants to ensure that the amount of authorized shares
will enable NSAV to fulfill its business plan and, in time, pay a
substantial share dividend to its shareholders.
Further, although the Company's business model is growth by
acquisition, the desire of NSAV is not to dilute its shareholders
when making acquisitions. The Company's vision is to pay for its
acquisitions out of the earnings of the companies it acquires.
Further, the current total issued and outstanding shares of NSAV
is 3,149,504,075 . This total is as of close of business
yesterday.
James Tilton, president of NSAV stated, I know it has taken a
while, but I am truly pleased that we have cancelled these 3.0
billion KBM Worldwide shares. This agreement was negotiated and
signed by the former president of NSAV and although I signed the
Binding Change of Control agreement on behalf of China Food and
Beverage Company on January 29, 2016, in the end, I could not
follow through with the closing, as this clause relating to the KBM
shares could have destroyed NSAV and caused great harm to its
shareholders. Protecting shareholders has been my personal motto
for 22 years and will continue in my role with NSAV.
Mr. Tilton went on to state, To be clear, there is no company
imposed gag order on Pacific Stock Transfer. I have urged them to
provide shareholders with full details of the NSAV share structure.
Pacific has decided to refer all enquiries back to the Company. Our
attorneys informed me that this is the legal right of the transfer
agent. I believe that Pacific is taking this action in order to
protect themselves after the serious communication problems with
the company a few weeks ago. I urge all shareholders to continue to
contact the transfer agent and demand up to date share information.
This is your legal right.
Mr. Tilton further stated, I can personally guaranty all NSAV
shareholders that there is no dilution of the Companys shares. The
rumors on the message boards and social media are totally
fabricated and completely untrue. I give all you shareholders my
word on that.
NSAV's vision is the establishment of a fully integrated
technology company that provides turnkey technological solutions to
the medical cannabis industry, as well as other areas of the
medical industry. Over time, the Company plans to provide a wide
range of services such as software solutions, e-commerce, financial
services, patents and trademarks and information technology.
For further information please contact NSAV at 1 (570-595-2432)
or jamestilton@netsavingslinkinc.com
.
The NSAV Twitter account can be accessed at https://twitter.com/NSAV_MJTechCo
The NSAV Facebook account can be accessed at https://www.facebook.com/Net-Savings-Link-Inc-768628693317257/
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934,
which are intended to be covered by the safe harbors created
thereby. Investors are cautioned that, all forward-looking
statements involve risks and uncertainties, including without
limitation, the ability of Net Savings Link, Inc. to accomplish its
stated plan of business. Net Savings Link, Inc. believes that the
assumptions underlying the forward-looking statements contained
herein are reasonable, any of the assumptions could be inaccurate,
and therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward- looking statements included herein, the inclusion of such
information should not be regarded as a representation by Net
Savings Link, Inc. or any other person.