On or about May 14, 2013, Alpha Capital Anstalt initiated an action against Eco Building Products, Inc., E Build and Truss, Inc. and Seattle Exchange Coffee in the United States District Court, Southern District of New York. The suit seeks $1,080,000. Alpha agreed to assign the debenture to a third party which has paid Alpha $960,000 to the date of the suit. On or about June 7, 2013 a settlement to the action from Alpha Capital Anstalt was agreed upon by all parties involved. The agreement settles the dispute in full providing for final payment to Alpha Capital Anstalt and a dismissal of the action in the United States District Court, Southern District of New York.
On June 14, 2013, Eco filed a preliminary proxy, form 14A, to increase our authorized shares and approve a reverse stock split at a special shareholder meeting. Let me assure all of my fellow shareholders that these financial decisions are for the benefit of the long term viability of the company and to support the upcoming growth and sustainability of the business model. The increase in authorized shares is to potentially assist the company to attract a long term strategic investor and the reverse split will enable us to obtain our future goal of up-listing ECOB to a nationally recognized Stock Exchange so that Institutional Investors and Retail Brokers that will not buy bulletin board companies can invest in ECOB.
FOCUSED AND ON THE MOVE
In closing, it is my desire to assure all shareholders that Eco Building Products is accessible to you. If at any time you wish to express concerns or offer suggestions, you can email us directly at email@example.com. We are listening, and we are committed to enhancing value to our shareholders and the customers who have come to depend on the products and services we provide. As this company shows up into in the main supply chain, we are actively seeking strategic institutional funding partners, and the Company is searching for a permanent Chief Financial Officer.
We thank you for your continued support and look forward to a prosperous second half of 2013 as the foundation of this product and company are ready to go.
Steve Conboy; President - CEO
About Eco Building Products, Inc.
Eco Building Products, Inc. is a manufacturer of treated wood products that are protected against fire, mold/mycotoxins, fungus, rot-decay, wood ingesting insects and termites by our proprietary eco-friendly chemistry utilizing ECOB WoodSurfaceFilm and FRC technology (Fire Retardant Coating). Eco Building products, "Eco Red Shield" utilizing patent pending technology is the ultimate in wood protection, preservation, and fire safety to building components constructed of wood; from joists, beams and paneling, to floors and ceilings.
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. ECOB takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties.
Eco Building Products, Inc.
Phone: 1 888 Red Shld (888.733.7453)
Web Site: www.ecob.net
Visit us on YouTube at: www.youtube.com/ecobuildingproducts
Investor Relations Contact
Arthur Douglas & Associates, Inc.
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