Navigation Links
Vega Biofuels Provides Update to Shareholders
Date:10/14/2011

NORCROSS, Ga., Oct. 14, 2011 /PRNewswire/ -- VEGA BIOFUELS, INC. (Pink Sheets: VGPR) provides the following Update to Shareholders.

Dear Fellow Shareholders:

In my last Update, I mentioned that we were working to resolve the issue with the Depository Trust Company (DTC) that has caused problems for our shareholders that use Penson and Alpine Securities.  I want to thank you for your patience while we've been working to resolve this matter.

We have been in contact with DTC in an effort to have them change our status back to the way it had been since 1986 and allow our stock to be transferred electronically.  We have also been in contact with Alpine Securities on behalf of our shareholders and are trying to resolve the issue in a way that protects our shareholders until we can resolve the issue with DTC.

Unfortunately, we have not been able to resolve the issue with DTC.  We are optimistic that we will be able to work things out and have the matter resolved, but we have no idea how long that will take.

The fact that the large clearing firms are no longer clearing securities that trade under a penny is not only affecting our shareholders, but it significantly hampers the Company's ability to raise funds necessary to complete our South Georgia project.

In an effort to resolve this issue in a way that will allow us to move forward with our plans and bring share support to our stockholders, the Company's Board of Directors voted to conduct a reverse split of our common stock.  As a result, the Company submitted a request to the Financial Industry Regulatory Authority, Inc. (FINRA) for authority to reverse split the Company's common shares 1:200.  On October 13, 2011 we received approval from FINRA for the Corporate Action and our common shares will be trading above a penny when the reverse split becomes effective on Monday, October 17, 2011.  Starting on the effective date, there will be a "D" placed on our ticker symbol (VGPR) for a period of 20 business days.  After the 20 business days, the D will be dropped and the symbol will revert back to VGPR.

The decision to conduct a reverse split was not an easy one.  However, we are convinced that we will be able to bring market support to our securities as a result of the higher trading price and by providing the public with information about our South Georgia plant, including pictures of the facility and a detailed timeline from now until the point that we start shipping product to our customers.

If you have questions concerning this matter, please feel free to contact me at mmolen@vegabiofuels.com  

Thank you for your interest in Vega Biofuels and for your continued support.

Sincerely,

Michael K. Molen
Chairman/CEO
Vega Biofuels, Inc.

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "plan," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

CONTACT: Vega Biofuels, Inc.: 800-481-0186 or info@vegabiofuels.com  


'/>"/>
SOURCE VEGA BIOFUELS, INC.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Bharat Renewable Energy Forms Alliance With SG Biofuels to Deploy Jatropha Hybrids for Biodiesel in India
2. VG Energys Lipid Enhancement Technology Independently Confirmed in First Phase of Testing for Potential Commercial Production of Biofuels
3. Dyadic International to Present at Advanced Biofuels Leadership Conference
4. Dyadic International Introduces Advanced Biofuels Enzyme AlternaFuel® CMAX™ At World Biofuels Markets
5. SG Biofuels Advances Jatropha Biotech Platform with Application of Genetic Markers to Reference Genome
6. SG Biofuels Launches Operations in Brazil; Appoints Fernando Reinach as Senior Advisor
7. Agrivida Announces Collaboration With Syngenta Ventures to Deliver Low-Cost Sugars for Cellulosic Biofuels and Biochemicals
8. SG Biofuels and Bunge Form Strategic Alliance to Process Jatropha Seeds Into Sustainable Crude Oil
9. Enerkem Announces Construction Start of Worlds First Municipal Waste-to-Biofuels Facility in Edmonton, Alberta
10. Mtech Bioprocess Scale-Up Facility to Double in Staff and Size, Expand to Shady Grove, Create Pilot Plant for Biofuels in College Park
11. Life Technologies and SG Biofuels Complete Sequence of Jatropha Genome
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... ... December 01, 2016 , ... Aerocom ... North American hospitals, will present its chain-of-custody solution for tracking and securing medications ... Vegas, Nev., Dec. 4-8, 2016. , Aerocom has a proven solution for tracking ...
(Date:12/2/2016)... ... December 02, 2016 , ... The ... to collaboratively developing improved chemistry, manufacturing and control technologies for the pharmaceutical ... with robust, probe-based sampling. , Online liquid chromatography analysis is becoming ...
(Date:11/30/2016)... (PRWEB) , ... November 30, 2016 , ... ... new moving magnet Voice Coil Actuator with a flexure design that ensures high ... life with cost-effective pricing and is ideally suited where extreme precision is required, ...
(Date:11/30/2016)... , Nov. 30, 2016  The Allen ... Cell Collection: the first publicly available collection of ... cells that target key cellular structures with unprecedented ... Research, these powerful tools are a crucial first ... to better understand what makes human cells healthy ...
Breaking Biology Technology:
(Date:6/16/2016)... 2016 The global ... reach USD 1.83 billion by 2024, according to ... Technological proliferation and increasing demand in commercial buildings, ... drive the market growth.      (Logo: ... development of advanced multimodal techniques for biometric authentication ...
(Date:6/9/2016)... June 9, 2016 Paris ... Teleste,s video security solution to ensure the safety of people ... during the major tournament Teleste, an international ... and services, announced today that its video security solution will ... to back up public safety across the country. The system ...
(Date:6/2/2016)... , June 2, 2016 The ... has awarded the 44 million US Dollar project, for ... Embossed Vehicle Plates including Personalization, Enrolment, and IT Infrastructure ... leader in the production and implementation of Identity Management Solutions. ... January, however Decatur was selected for ...
Breaking Biology News(10 mins):