Company to Change Domicile from Delaware to Nevada Effective this Month: Closes on Purchase of Matter of Time I Inc. as It Plans to Become a Fully-Reporting Company
NEWPORT BEACH, Calif., Oct 11, 2011 (BUSINESS WIRE) -- Green Automotive Company Corporation (www.usaelectricauto.com) (OTC:GACR) announced today that a majority of its shareholders approved a change of domicile from Delaware to Nevada and the purchase of 100% of Matter of Time I Inc. as part of the Company's plans to register its shares under the Securities Exchange Act of 1934 and become fully reporting with the Securities and Exchange Commission.
According to Mr. Fred Luke, President of Green Automotive, "The purchase of Matter of Time I Inc. closed Monday, October 3rd followed by our Form 8-K and Form 3 filings. Until the Company's audit is completed, Matter of Time I Inc. will remain a wholly-owned subsidiary of the Company."
"The effective date of the change of domicile from Delaware to Nevada, originally set for September 30, 2011," said Mr. Luke, "will become effective within the next week as we have finally resolved the Cusip and Symbol issues relating to the move from Delaware to Nevada and dropping the word 'Corporation' from the Company's name: FINRA and Cusip have allowed us to retain the same Cusip number and the same symbol. Shareholders are not required to submit the certificates they are currently holding as new certificates reflecting the change of domicile and shortened name will automatically occur when a shareholder submits a certificate for transfer or deposits a certificate with a brokerage firm."
About Green Automotive Company: Green Automotive Company Corporation is a U.S. public company involved in the import and distribution of Eco-friendly vehicles. The Company is presently planning to bring to the United States market late this year an All-Electric SUV and, in 2012, an all-electric MPV. The Company maintains its Corporate Office in Newport Beach, California and its Dealership Services Office in Lewisville, Texas. Green Automotive Company shares are traded on the OTC Market Tier--OTC Pink Current under the symbol "GACR". For more information, visit www.usaelectricauto.com or write to contact us.
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