HOUSTON, TX - (NewMediaWire) - November 16, 2015 - In an open letter to shareholders, the President and CEO of GLDG (OTC PINK: GLDG), Robert Leyne Lee, made the following statements:
The purpose of this letter is to bring clarity to the events that have transpired since the closing of the acquisition of Combo Hitter LLC.
Immediately following the closing announcement, GLDG began to trade well. The addition of Combo Hitter's new and exciting fitness technology raised GLDG into a new niche as an OTC market company.
New investors lost no time in appreciating the tremendous potential of Combo Hitter; however, there has been a misconception that the proposed financing to be provided by Blackbridge Capital LLC is diluting GLDG share prices. It is confirmed that this is not the case. The deals with Blackbridge Capital LLC have not been activated, and when completed, they would be in the form of new promissory notes with a 1 year maturity date. Any notes or shares received within these agreements will not be convertible until their maturity dates.
Furthermore, we are fully committed to our plan to have these notes settled prior to their maturity dates. The recent severe dilution that has occurred is due to accelerated conversions by debt holders who provided financing for GLDG's previous mining business. Efforts are being made to minimize the dilution effects of this aged debt and the purchase by other parties is also being considered.
It is emphasized that I'm working closely with Mike Starkweather, our COO, Director and fitness expert, to ensure that Combo Hitter is committed to having transparency with our shareholders at all times. We are working on many aspects of sales and marketing and also plan to make an aggressive introduction of Combo Hitter to the investment community. Shareholders will be kept informed.
Work is in progress to bring GLDG to its previous status of a fully SEC reporting company. Additionally, the Company is fully devoted to the advancement of our product. All of our Shareholders and investors can look forward to the exciting report being prepared that highlights the fast paced progress that is being made by Combo Hitter LLC, in the near future.
"SAFE HABOR" Statement: Under the Private Securities Litigation Reform Act of 1995: The statements in this Letter released to shareholders in the form of a press release that relate to the company's expectations with regard to the future impact on the results from product development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's results may differ materially from expected results.