November 16, 2010
Green Automotive Warns of Spam Mail/Email on its Stock
DALLAS, TX – (MARKETWIRE) - Green Automotive Company Corporation (Pink Sheets: GACR) announced today that the Company’s Chairman & CEO, Daniel J. Elliott issued a stern notice to any individual or organization found guilty of spamming the Company stock -- will be prosecuted.
Green Auto wants to go "On the Record" to state that the Company has NO knowledge of any individual and or organization that has or is issuing any notice or news that has not been authorized by the Company. Furthermore, Green Auto is working with Pinks Sheets Compliance to investigate any of this activity and will fund the prosecution of any individual or organization that can be found and prosecuted for this type of illegal behavior. The members of management and the investment community are dedicated to building this company in a proper and prudent manner and will not tolerate under any circumstance any attempt to harm or discredit this company for personal gain.
As a point of record Pink OTC Markets has discontinued the display of quotes on otcmarkets.com for this security because it has been labeled Caveat Emptor and because adequate current information has not been made available by the issuer of the securities. Consequently, Pink OTC Markets has removed the quotes from this website until adequate current information is made available by the issuer pursuant to Pink OTC Markets Guidelines for Providing Adequate Current Information (PDF) and until Pink OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use care and due diligence in their investment decisions. Management is working to immediately solve this matter. In the interim if you have any questions for Mr. Elliott, please email them to; delliott@usaelectricauto.com
Mr. Elliott was the previous CEO of Phoenix Motorcars, Inc., one of the early entrants in the Electric Vehicle segment of the U.S. automotive industry. While with Phoenix Motorcars Mr. Elliott generated private equity investments in excess of $35million, created a management team of nationally recognized automotive professionals, developed 10 fully functional prototype vehicles. When Mr. Elliott left Phoenix Motorcars in 2009, the company had a $40 million backlog of vehicle orders from public and private fleet operators, including NASA, PG&E, the U.S. Department of Corrections, the State of California, Maui Electric Corporation, the U.S. Military/TARDEC, and many other public and private fleets.
About Green Automotive Company Inc.: Green Automotive Company is U.S. public company and the exclusive importer/distributor of Zotye Electric Cars/SUV’s to North America. The company’s shares are traded on the Pink Sheets under the symbol (GACR).
For More Info visit www.usaelectricauto.com or write to; info@usaelectricauto.com
Safe Harbor Statement - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Green Automotive Company Inc. does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
First Market Services, Inc.
Peter Sherman
Toll Free: 877.843.4081
Tel: 214.556.6302
Fax: 214.276.1675
info@usaelectricauto.com