JUPITER, FL—February 28, 2014 - RenuEn Corporation (OTC Pink: RENUD) (OTC Pink: RENU), a Renewable Energy Development and EPC Company, announced today that FINRA has approved the company's request to complete a 1 for 50 stock split.
Jeff Nemes, CEO of RenuEn, stated, "Over the last five weeks, FINRA has completed a comprehensive review of RenuEn and its officers, resulting in approval for our requested reverse split which becomes effective today." Nemes added, "The reverse split was prepared and submitted by our securities counsel Laura Anthony, Esq. and her team at Legal & Compliance, LLC following approval by the Board of Directors and a majority shareholder vote."
Mr. Nemes continued, "With this milestone behind us, coupled with our rapidly expanding Energy Solutions Dealer Program, we are already creating positive operational cash flow on a daily basis." He added, "Over the last three days our Florida dealers have submitted over $100,000 in new sales and I am expecting the company to reach the $1,000,000 sales mark in the next ten days. This is a historic moment for RenuEn considering I assembled this amazing management team in just the past two months. With a majority of my management team in place, I can now focus our efforts on building on the sound financial foundation we have created. In fact, our President Walt Kritsky and I see so many new and unique projects and opportunities on the horizon, I am confident that our shareholders will see the value that the recapitalization of the company brings to all of our current and future shareholders."
Nemes added, "FINRA has notified the company that the 1-50 Reverse Split announced on today's daily list has an effective date of 2/28/14. As of the effective date, the company's stock symbol will be RENUD. The 'D' will be removed after 20 business days."
Concluded Nemes, "I fully intend to continue my mandate for full transparency and will continue to keep our shareholders updated with press releases and information on our website (www.renuen.com) as well as our social media platform. Shareholders can stay informed of our activities by following us on Facebook (https://www.faceook.com/RenuEnCorp ), twitter (@RenuEnToday) or follow me on twitter (@RenuEnCEO)."
About RenuEn Corporation
RenuEn Corporation is a Renewable Energy Development, Engineering, Procurement and Construction (EPC) Company. The company focuses on Renewable Power projects and the development of solar, geothermal and other renewable energy strategies installing energy saving products and services for residential and commercial clients.
About Legal & Compliance, LLC
Legal & Compliance, LLC (www.legalandcompliance.com) is a multifaceted corporate and securities law firm based in West Palm Beach, Florida. The firm assists clients in all aspects of their commerce; including reverse mergers, registered public offerings, compliance with the over the counter market trading platforms such as OTCQB, compliance with FINRA and DTC.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact and Inquiries for Investor Relations:
Paramount Advisors, LLC
SOURCE: RenuEn Corp