Tuesday, July 31, 2012

LKEN Announces Reverse Split - Shame On You

Last week LKEN issued its first press release in over a year to "ANNOUNCE BLOCKBUSTER NEWS TO THE MASSES" and the stock hit a high of $.0003 on Friday closing with a bid of $.0002.  This was a stock that was bidless and dead for all intents and purposes.  With the "BLOCKBUSTER" news LKEN looked to be coming back and could have been setting up for a promising rally.  Instead the only "BLOCKBUSTER" news LKEN provided is the reverse split that has just wiped hundreds of millions of shares from the "MASSES".

In this after hours gem from LKEN (pasted below) the company attempts to put pea size band aid on the
chain saw wound they have inflicted upon their shareholders.

I found this passage of the press release to be most revealing. My comments are in bolded black with parantheses:

Reverse splits have a negative stigma (really? you've just taken away 100 shares from each of your stock holders and given them 1 in return , how would you feel?)  This failsafe measure (failsafe? You've just screwed every single one of your investors out of their holdings and you think its a perfect measure... until you perform the next failsafe reverse split) allows all
investors involved to have the safety of enhanced liquidity and market
stability. (liquidity?  Reverse splits DECREASE liquidity!  DILUTION INCREASES LIQUIDTY , which means you will be diluting the stock) So long as a company does not have dilutive intentions
post-split (dilutive intentions?  Don't try and sound smart, you got LKEN bidless before and you will do it again with 100% of your intentions.), the company will be more stable than ever before and will
have the ability to aggressively pursue operations and bring the
business plan forward. 

Later on we get this fabulous quote:

"This is of course a requirement 
to engage the interest of Investment Banks and Institutional Investors."

What investment bank and/or institutional investor is going to put one single penny into this stock with now ONLY 3 billion authorized.  

Let me be clear, this is a stock I alerted for a bounce off this news and it did bounce over 100%.  The reverse split should have been done BEFORE this supposed  "Special Conference Call to Announce Blockbuster News to the Masses"  was to take place.  The company has enticed people to buy the stock based on this news and then turned around and gave them the finger while laughing all the way to the bank.  Shame on you LKEN.

Greene Concepts, Inc. Subsidiary InkWay USA Holds Special Conference Call to Announce Blockbuster News to the Masses

NEW YORK, Jul 26, 2012 (BUSINESS WIRE) -- Greene Concepts, Inc. (LKEN) CEO, Lenny Greene, announces today that the company will hold a live conference call this Saturday, July 28th, 2012 for stakeholders and general public to announce an unprecedented event that will revolutionize the ink market and send shockwaves throughout the industry.
This will be Greene Concepts' second conference call in seven days and will be hosted by the Duane Noble, the President of InkWay USA, Inc., a wholly owned subsidiary of Greene Concepts, Inc. "The first call yielded overwhelming success with all 100 conference lines at capacity and immediate positive reactions," said Lenny Greene, CEO. Greene Concepts has opted to upgrade their conference line to hold up to 1,000 people, as well as control background noise and offer recording capabilities for later publishing. This call will show everyone how the company has already taken significant steps to position itself as one of the fastest rising, most successful company ever in the ink and toner industry.
The call takes place this Saturday, July 28th, 2012 at 12:00 PM Eastern Daylight Time
Conference Call Phone: 805-399-1200 (USA) Pin - 622057#
Based on the success and response of the first call, additional marketing tools for stakeholders are available on the InkWay USA webpage at:www.inkwayusa.com. These tools include a 1-page InkWay USA founder template, a description about the fantastic quality of the InkWay USA ink formulations and a link on how to refill toner and inkjet cartridges.

Greene Concepts, Inc.Announces 1 for 100 Stock Consolidation Toward Beneficial Restructure

Business Wire   "Press Releases - English"

Greene Concepts, Inc. (OTC:LKEN) (the Company) announced today that
its Board of Directors approved a 1-for-100 reverse stock split (the
"Split") of its Common Stock while simultaneously effected a significant
decrease in the companys Authorized share count to 3 billion . The
Split will begin trading on a Split-adjusted basis per FINRA
Confirmation on August 1st. The par value of the Stock after
the Split will remain and the Stock will continue to be traded on the
Pink Sheets under the symbol "LKEN", the letter "D" will be added by to
the symbol for a limited time after the Split.

The purpose of the Split is to raise the per share trading price of the
Stock to appeal to a higher tier investor pool as the company has
engaged consultants to move the company to a fully SEC reporting market
tier and facilitate a move to the OTCQB. This is of course a requirement
to engage the interest of Investment Banks and Institutional Investors.

Company CEO, Lenny Greene states, A reverse split is conducted out of a
need to remain trading, when a company's capital structure bounds to a
level where the market cannot trade at a price low enough to speak to
the market cap, a reverse stock-split corrects the market. Generally
speaking only 22 percent of those stocks have slipped back to prices
below the pre-split price and with LKEN growing exponentially every day,
we believe this will not be the case. This doesn't change a company's
finances or the true market value but, does allow us to have the support
of those sidelined by an over-diluted market.

Reverse splits have a negative stigma.This failsafe measure allows all
investors involved to have the safety of enhanced liquidity and market
stability. So long as a company does not have dilutive intentions
post-split, the company will be more stable than ever before and will
have the ability to aggressively pursue operations and bring the
business plan forward. Lenny is passionate about making sure all current
and future shareholders will be happy with the long-term success of
Greene Concepts. He emphasizes, We want to be a healthy company, making
this a win, win situation for all shareholders, customers, and the

Greene was quoted as saying while a tough decision had to be made our
Board did not enter this motion without extreme thought and
understanding that this motion was necessary to take Greene Concepts
where we all want it to be. He continues we have a concise strategy on
moving the company forward and driving shareholders value and are
sincerely thankful for the continued support from long-term shareholders
and for the guidance from our consultants as we launch necessary
initiatives which have been a long-time coming.

Pacific Stock Transfer, Inc., Greene Concepts transfer agent, will be
acting as the exchange agent for the Split. Shareholders who hold their
shares in brokerage accounts or "street name" are not required to take
any action to effect the exchange of their shares. Shareholders who have
existing stock certificates will receive instructions from the exchange
agent after the Split becomes effective.

Greene Concepts, Inc. is an ink technology Manufacturing and
Distribution Company
headquartered in Fresno, CA. Chairman and Founder
Lenny Greene has spent the past 30 years serving the printing needs of
businesses and consumers. Greene Concepts intends to be the catalyst for
the introduction of a number of innovative products and marketing
strategies and to bring the world the best products at the lowest prices
so consumers and business can save time, save money, print more and
print better.

AccuBrite, Inc. creator of FreeInk4Life(TM), Refills4You(TM) and INKWAY
(TM) has developed a family of 25 Do It Yourself Ink Cartridge
Refilling Systems. All refilling tools, accessories, filling stations,
interactive CD-Rom instruction manual including bonus software, 24/7
customer service / tech support and unlimited ink refills are available.
Consumers can now save thousands of dollars annually without replacing
their inkjet cartridges using ABIs top of the line refill kits.

INKWAY USA is a consumer direct affiliate marketing ink and toner
technology Distribution Company. We market and sell over 1000 advanced
and exceptional proprietary ink and toner Do It Yourself Refilling
Systems and other products
for all inkjet and toner cartridges. The
most expensive liquid in the world is ink. And you are in the perfect
place to take advantage of this by purchasing one (or more) of our 400
available Founding Units. Our model is consumer direct affiliate
marketing and our design ensures long term growth and stability. We are
set to explode in 2012... Marketing, sales, and fulfillment for retail
products are coordinated at its offices in Fresno, CA. Consumers and
businesses save thousands of dollars annually buying our products.
INKWAY USA will also compete in the global market place by marketing and
signing distributors in Europe, The Pacific Rim, and Asia.

Safe Harbor: This Press Release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are based on the current plans and
expectations of management and are subject to a number of uncertainties
and risks that could significantly affect the company's current plans
and expectations, as well as future results of operations and financial
condition. A more extensive listing of risks and factors that may affect
the company's business prospects and cause actual results to differ
materially from those described in the forward-looking statements can be
found in the reports and other documents filed by the company with the
Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure
and News Service. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.

The Nuemark Group, LLC
Shaun Kohlmeier, 559-426-LKEN (5536)

Source: Greene Concepts, Inc.


Unknown said...

Well, let's hope this is the only R/S that ever occurs for this company. Since this newsletter, the company has posted financials on a regular basis. The wait is now on for the InkWay USA launch. People still believe in the company but the company must come through for us.

Unknown said...

Well, let's hope this is the only R/S that ever occurs for this company. Since this newsletter, the company has posted financials on a regular basis. The wait is now on for the InkWay USA launch. People still believe in the company but the company must come through for us.