SHELBY TOWNSHIP, Mich., Oct. 20, 2022 (GLOBE NEWSWIRE) -- ResGreen Group (OTC PINK: RGGI)
ResGreen Group International, Inc. (RGGI), a next-gen mobile robot and software solutions company, announced today its shareholder updates for the third quarter of 2022. All equity transactions will be reported in our September 30, 2022, quarterly report.
ResGreen issued 336,321,369 shares of restricted common stock, of which 54,421,369 shares were issued to several related parties (affiliates) for debt conversion and services rendered. All shares bear a Rule 144 restrictive legend. The remaining 281,900,000 shares were issued to ResGreen’s CEO Parsh Patel as compensation for the following reasons:
Cancellation of 80,000 shares of preferred stock, which held the equivalent vote of 80,000,000 shares of common stock
Corporate action taken on his 2016 compensation agreement that resulted in the issuance of common stock for his continued deferment of cash compensation since his appointment as CEO and Chairman of the Board of Directors in 2016
“Taking these actions allows the current management team to remain firmly in control of the company,” said Parsh Patel, CEO at ResGreen. “Our team is fully committed to using our experience and industry-leading products to provide future value to our shareholders.”
About ResGreen Group International, Inc. (RGGI)
ResGreen is a premier provider of automated material handling solutions, including interoperable software, Autonomous Mobile Robots (AMRs), Automatic Guided Vehicles (AGVs) and industrial automation devices. Connectivity and collaboration are the cornerstones of ResGreen’s products, as well as Industry 4.0 and 5.0. ResGreen’s team of experienced engineers use the Internet of Things (IoT), MQTT protocol and Robot Operating System (ROS) to design technologies that interface with a wide variety of automated equipment, electronic components and software systems. For more information, visit resgreengroup.com.