- SGTM has decreased its authorized shares by more than 3 billion
- New name, symbol “best suited for the company’s future direction,” says CEO
- SGTM, formerly known as National Storm Recovery Inc., continues with rebranding, expansion plans
Sustainable Green Team (OTC: SGTM), a leading provider of environmentally beneficial solutions to tree and storm waste disposal, recently announced that it has decreased its authorized shares by 3,249,000,000 (http://ibn.fm/n73QT). The announcement comes as SGTM, formerly known as National Storm Recovery Inc. (NSRI), continues with rebranding and expansion plans that included transitioning to a new name and trading symbol (http://ibn.fm/gj5oY).
“I am proud of my team and all that we have achieved thus far,” said SGMT CEO and director Tony Raynor. “We have achieved ‘current information’ status with OTC Markets Group, and having acquired Mulch Manufacturing (in the two months of our first quarter), we exceeded expectations and vastly increased our assets and revenue, and our audit mentioned in May is still in progress — all requirements for our expansion plan including achieving fully reporting status and uplisting to a higher exchange, overall increasing transparency and trust to our loyal shareholders.”
Following the decrease in authorized shares, SGTM now has 250,000,000 authorized shares, representing 2.9 billion fewer shares.
Earlier this year, the company successfully acquired Mulch Manufacturing Inc. in 1Q 2020 — and utilizing approximately only two months of post-acquisition revenue of Mulch Manufacturing — SGTM reported revenues of more than $6 million, including $1,728,506 gross profit, and $34.7 million in total assets, including $4,303,668 in cash (http://ibn.fm/3PZCT).
“Due to the opportunities we now have with the Mulch acquisition, the company’s management team is rebranding itself and transitioning from the name National Storm Recovery Inc. to Sustainable Green Team Ltd,” a SGTM press release stated. “The Sustainable Green Team name is best suited for the company’s future direction. Along with the company’s name change, NSRI will be trading under the new symbol SGTM.
“The company name and ticker change are pivotal for the direction we’re heading,” Raynor added. “The name suits us best in view of our rebranding and planned expansion.” In addition, Raynor noted that the ticker symbol change doesn’t do anything to markets or to the way investors execute trades. “Since everything is electronic, trading platforms or brokers will already update their portfolio to include the new ticker symbol,” the press release stated.
SGTM and the solutions provided by its Sustainable Green Team are founded in sustainability. The company’s vertically integrated operations begin with the collection of tree debris through its tree services division and collection sites. Tree biomass is then moved through the processing division for recycling and manufacturing into a variety of organic, attractive, next-generation mulch products to be packaged and sold to retailers, landscapers, installers and garden centers. The company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and are positioned for rapid growth from the resulting synergistic opportunities identified. The company’s customers include governmental, residential, and commercial customers.
To learn more about this company, view the investor presentation at http://ibn.fm/93wHq
NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://ibn.fm/SGTM