COCONUT CREEK, Florida, March 12, 2020 /PRNewswire/ -- Trans Global Group, Inc. (OTCPK: TGGI) would like to take this opportunity to bring all of its shareholders up-to-date on the Company and share some insights as to where the Company is headed over the course of 2020.
First off, we would like to confirm that TGGI management has no intention of filing for a reverse split of its Common stock. We are now in a position of financial health that will allow us to carry out what is needed for our plans in 2020.
We recently announced that beginning in April, TGGI will start receiving its $10,000 monthly payments from Global Consortium, Inc. The monthly payments will be increased starting in August to $16k per month, so the Company can collect the total amount owed of $120,000 in 2020. This new injection of cash will be reflected in our quarterly statements. The money collected will only be used to further the Company's business plan to begin generating revenue, not to pay any accrued wages.
TGGI spent the last year and half fine tuning its revolutionary device that could be used in the expanding cannabis edible market, alcohol market and several other uses. While also developing new a residual revenue stream similar to how the razor blade and k-cup markets operate. This device could very easily replace the vape pen that was hugely popular, allowing people to still get the benefit of Cannabis/CBD without any inhaling.
TGGI has a few paths it could follow, first by becoming a plastics manufacturer and shipping the unfilled products to vendors who could fill them and sell them or second by entering into license deals allowing for the use of its products. There is no single direction the Company needs to follow in order to roll out its product line, which has expended beyond the original 2 designs.
During this time the Company also worked with a chef to create a line of sauces that can be sold as plain or infused with CBD, THC or CBD-THC. These combinations give the company 20 different varieties to offer consumers and half of them can be sold online.
In the coming weeks the Company will have several announcements, that include new management and a series of acquisitions "Rollup" of a Global product that will be extremely beneficial to the devices.
The Company intends to have this completed during the month of April.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE Trans Global Group, Inc.