HOLBROOK, N.Y., May 22, 2013 /PRNewswire/ -- Northstar
Global Business Services, Inc. Symbol (OTCPink: MDIN), today
announced that it has hired the firm, John
Scrudato, CPA, to audit the company's 2011 and 2012
financials in preparation of becoming a fully reporting company
once more. By becoming current in its reporting to the SEC,
Northstar will then likely be up-listed to the OTCQB market tier,
and immediately file for re-listing on the OTCBB exchange, which
has a much higher level of scrutiny and protection for
shareholders.
A move back to the OTCBB will bring with it, much tighter
institutional trading rules, cutting down on possibilities of
Market Maker manipulation, as well as requiring audited financial
statements, thus creating a much higher level of trust between the
company and its shareholders. Typically, listing on the OTCBB also
brings with it higher levels of liquidity, and even higher share
prices in many cases where a company is grossly undervalued.
Northstar's CEO, Nick Chieco
commented, "We just want our share price to represent our real
value as a company, and not be based on trading in an arena with
very few rules in that area. I am committed to reinforcing trust
between the company and its shareholders, and I am committed to
increasing shareholder value and return on investment, especially
for those shareholders who stuck with us through these past
months."
Another development shareholders will be happy about, and one
that is perhaps even more exciting than the progress towards
audited financials, is that the company has come closer than ever
to having it's DTCC chill order removed. A DTCC "Chill order" is a
trading restriction meant to protect shareholders, but often
discourages many brokers from allowing purchase of a specific
security at all. In 2010 the DTCC placed a Chill order on Northstar
due to a large amount of issuances back in 2008. Early last week,
independent counsel hired by Northstar, sent out a legal opinion,
upon request of the DTCC itself, verifying the legality of those
share issuances. Both the company and the independent counsel feel
that this request can only mean one thing, that upon receipt and
processing of the opinion, the DTCC will finally approve the
removal of the Chill order which has been severely limiting
shareholder's ability to invest in Northstar up until now. "This
will likely have a major impact on our securities, and how they
trade." Said Mr. Chieco, "Since our re-launch of the products, I
have received thousands of emails by individual investors who would
like to buy shares of MDIN, but couldn't because they currently use
brokers who will not trade stocks that have chill orders placed on
them by the DTCC. I often have to direct them to a firm that does,
but having the chill removed should really open this up to
everybody, and that is very exciting."
The company also wants to take this time to let shareholders
know that worldwide interest in the company's products have sparked
talks with distributors and retail stores around the globe making
it more and more likely that the company's product line will be
widely available in foreign as well as domestic, brick and mortar,
retail stores as the year progresses. Currently, the "big box"
retail chains that have already ordered product, are systematically
rolling it out to shelves and everyone should start seeing
Northstar's all-natural, safe, and inexpensive alternative
healthcare products in their favorite retail store very soon.
Lastly the company adds that demand for the products by consumers
has been overwhelming, increasing daily, and although retail sales
stats have not yet been collected long enough to be very accurate,
based on direct sales numbers almost doubling monthly, for the past
four months, the company concludes that all three of the company's
current products will very likely prove to be top sellers for those
retailers that do carry the product.
About Northstar
Northstar Global Business Services is dedicated to producing the
best alternative healthcare products. The most popular products
Northstar's sells are Snorenz©, a patented spray for snoring
relief, Stem-Intense, a unique stem cell replacement therapy
supplement, and Health-Enrich for pets, an exciting new supplement
that promotes pet health and can help relieve many problems
experienced by aging pets. Most of the company's products use a
proprietary or patented formula, spray delivery system, or
ingredients, and have received very positive consumer reviews all
over the world, selling millions of units from 1996 to the present.
For more information please call Jennifer at 877-571-4387 or email
investor@northstarbb.com
About John Scrudato, CPA
John Scrudato CPA - in his capacity over the last twenty five years
as managing partner of John Scrudato CPA., has managed and
supervised the Company's business accounting, audits, Edgar
financial oversight, and is an invaluable resource for all public
accounting issues. This accounting professional is a
registered agent with the PCAOB and audits publicly traded
companies through their oversight policies.
DISCLAIMER
This Press Release may contain certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The Company has tried, whenever possible, to identify
these forward-looking statements using words such as "anticipates,"
"believes," "estimates," "expects," "plans," "intends," "potential"
and similar expressions. These statements reflect the Company's
current beliefs and are based upon information currently available
to it. Accordingly, such forward-looking statements involve known
and unknown risks, uncertainties and other factors which could
cause the Company's actual results, performance or achievements to
differ materially from those expressed in or implied by such
statements. The Company undertakes no obligation to update or
advise in the event of any change, addition or alteration to the
information catered in this Press Release including such
forward-looking statements.
SOURCE Northstar Global Business Services, Inc.