CARLSBAD, Calif.--(BUSINESS WIRE)--Feb. 8,
2008--U.S. Microbics (OTCBB: BUGSE
- News),
a business enhancement firm for companies with products, services and
initiatives that favorably impact the environment, announced that it is
reorganizing its corporate structure, announcing a recapitalization, and a
new name for future business operations. All changes are scheduled to be
completed in the next ninety days and shareholders will receive notices
effecting the changes, but are not required to vote on the changes.
The Board of Directors of U.S. Microbics, Inc
has determined that it is in the best interests of the company to change the
state of incorporation from Colorado to Nevada. The reincorporation will be
effected pursuant to a merger agreement with Green Mountain Holding
Corporation, a wholly owned subsidiary of U.S. Microbics, Inc. Upon the
effectiveness of the reincorporation, U.S. Microbics, Inc. will cease to
exist and Green Mountain Holding Corporation will continue to operate the
company’s business.
Upon the effectiveness of the reincorporation,
for every 1,000 shares of U.S. Microbics, Inc. common stock held, a
shareholder will be entitled to 1 share of Green Mountain Holding
Corporation, (GMHC) common stock. Immediately following the reincorporation,
GMHC will consummate a 10 for 1 forward stock split of its common stock. A
shareholder record date for the reverse/forward stock split will be
announced in the near future.
Based upon the information available to the
company, the number of shareholders of record of the company’s
common stock will be reduced to fewer than 500 as a result of the
reincorporation stock exchange and forward split, and the company intends to
file a Form 15 with the Securities and Exchange Commission (SEC) in order to
terminate the registration of its common stock under the Exchange Act. Upon
the filing of the Form 15 and a ninety day waiting period, the Company will
no longer be required to file periodic reports with the SEC, including
annual reports on Form 10K and quarterly reports on Form 10Q and will no
longer be subject to the SEC’s proxy rules. GMHC’s
common stock will become listed on the pink sheets under a new trading
symbol and GMHC will provide reports as to its financial condition and
results of operations may be accessed at
www.pinksheets.com.
In conjunction with these changes, the company
has established Green Mountain Capital Group, Inc., (GMGC), a wholly owned
subsidiary, whose mission is to be the number one provider of creative
growth strategies for client companies who provide products and services
that favorably impact the environment. A product and service profile is
available at
www.GreenMountainCapitalGroup.com. Current clients of USM Capital Group,
Inc. will be serviced by GMCG staff.
Robert Brehm, CEO, commented,
“The changes announced today focus our core
competencies together into two environmental sectors, namely environmental
technology and environmental capital formation and management. There is
tremendous growth potential in both of these sectors as a result of the
Green Awakening movement and we are generating revenue in each one today. We
have invested heavily in technology and environmental business development
over the past 10 years and now our investment is about to pay off because we
are uniquely positioned to offer our services, skills, and experience with a
seasoned financial network and knowledge base that other companies simply
don’t have. Our time is now, our people are ready
and our client base is expanding as we provide creative solutions to
companies with products, services or initiatives that favorably impact the
environment.”
About U.S. Microbics Inc.
U.S. Microbics is a business enhancement company
that develops creative growth strategies for client companies providing
eco-friendly products and services that favorably impact the environment.
For more information on the company, contact
Robert Brehm at 760-918-1860 x102 or visit the website at
www.greenmountaincapitalgroup.com.
The information contained in this press release
includes forward-looking statements. Forward-looking statements usually
contain the words ``estimate,'' ``anticipate,'' ``believe,'' ``expect,'' or
similar expressions that involve risks and uncertainties. These risks and
uncertainties include the Company's status as a startup company with
uncertain profitability, need for significant capital, uncertainty
concerning market acceptance of its products, competition, limited service
and manufacturing facilities, dependence on technological developments and
protection of its intellectual property. The Company's actual results could
differ materially from those discussed herein. Factors that could cause or
contribute to such differences are discussed more fully in the ``Risk
Factors,'' ``Management's Discussion and Analysis or Plan of Operation'' and
other sections of the Company's Form 10-KSB and other publicly available
information regarding the Company on file with the Securities and Exchange
Commission. The Company will provide you with copies of this information
upon request.