Management of QED Connect, Inc. (OTC Pink: QEDN) (PINKSHEETS: QEDN) today announced that they have received official completion notice from the Secretary of State (SOS) of New York for the reduction of its authorized shares of common stock to 600,000,000 from 1,000,000,000. Additionally, the Series A preferred shares shall no longer have conversion rights to common shares. The amendment to the Articles of Incorporation that was filed with the SOS will be reflected in subsequent fillings. The web site for OTC Markets has been updated to reflect the current number of shares.
Additionally, the Company has initiated the process to have the DTC Chill lifted. A DTC chill is the suspension of certain DTC services with respect to an issuer's securities. It does not prevent trading of shares but requires shareholders to deposit the Company's shares manually. QED will provide continued updates to this process.
The Company's recently announced acquisition of Emerald Med Farms, Inc. is finalizing operations as it prepares to harvest the initial crop of plants (press release June 10th). Emerald Med Farms, Inc. is registered within the state of Nevada as a Domestic Corporation under NV Business ID# NV20141273899 and will have a dual registration to do business as a Foreign Corporation in the state of California. The Company is currently authorized to operate under the 180 day grace period while its registration is completed under the California SOS which is expected shortly.
About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company works with organizations that are looking for capital, management assistance, or help in reaching their target markets to realize their true potential. QED acquired StockProfile.com. In April 2014, the Company entered into an agreement to acquire Emerald Med Farms, Inc., a California based medical marijuana company (www.emeraldmedfarms.com). QED's business model helps to achieve its goals by expanding its overall revenue and profits potential through multiple market segments. www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED to be materially different from those expressed or implied by such forward-looking statements. QED's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
For more information contact:
Tel: (603) 425-8933
Fax: (561) 764-6180
SOURCE: QED Connect, Inc.