NEW YORK--(BUSINESS WIRE)--GNCC Capital, Inc. (OTC: GNCP) (“The Company”) clarifies its position on its Stock Repurchase Program following this morning’s Press Release.
The Company is absolutely committed to its stated Stock Repurchase Program of up to $750,000.
The Company was highlighting that it was cancelling up to 29% of its outstanding shares of Common Stock and revising existing agreements to prevent additional shares of Common Stock from entering the “Free Float”.
The statement that, “The Company’s Management believes that it is illogical to expend any sums of monies on any future stock repurchases, in the market, from either Loan Term Convertible Loan Note Holders or from any other third parties that have directly or indirectly contracted with the Company and/or its subsidiary companies.”;
The Company was solely interested in repurchasing shares of its Common Stock in the market from Sellers other than Loan Term Convertible Loan Note Holders or from any other third parties that have directly or indirectly contracted with the Company and/or its subsidiary companies.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a Diversified Holding Company which at present has Revenue Generating, Cash Positive and Profitable subsidiary companies which are engaged in the owning and operation of Adult Social Gaming Arcades based in South Florida. The Company also has significant assets in Gold & Silver Mining Exploration in Arizona. GNCC Capital, Inc. is a Current Information Filer on the OTC Markets.
The Company’s most profitable assets, at this time, are our Adult Social Gaming Arcades in South Florida which are currently operating under our Gold Coast Gaming Corporation and as “Boardwalk Brothers” and ”Play It Again”. The Company is aggressively pursuing suitable acquisition targets in South Florida and in this Sector.
The Company also intends to continue to diversify into other Industry Sectors through acquisitions and as they present themselves; only upon our stated criteria.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.