MURRIETA, Calif., April 29, 2010 (GLOBE NEWSWIRE) -- Green Globe International, Inc. (Pink Sheets:GGII), the worldwide owner of the Green Globe brand, today announced that the company has submitted all of the paperwork required to subscribe to the Pink Sheets OTC Disclosure and News Service at www.otcmarkets.com, where it plans to post its quarterly and annual financial information. The subscription was undertaken for the purpose of disclosing the company's periodic financial statements to shareholders and the public markets, while at the same time controlling the costs of compliance, which have become more financially burdensome as additional regulatory legislation has been implemented for U.S. public companies.
Once it has met all of the requirements set forth by Pink OTC Markets Inc., which operates www.otcmarkets.com, including the posting of quarterly and annual financial statements, Green Globe International expects that it will achieve "Current Information" status at the www.otcmarkets.com site.
In April 2009, Green Globe International first announced its intention to utilize the Pink Sheets OTC Disclosure and News Service to report its periodic financial information. The company subsequently filed a Form 15 with the Securities and Exchange Commission, which will allow the company to achieve "Current Information" status once all of the required disclosure has been met.
"As we have stated previously, financial disclosure is a priority for Green Globe, especially as the use of the brand and its affiliated programs grow in the U.S. and around the world," said Green Globe International CEO and Managing Director Steven R. Peacock. "Establishing this transparency by posting financials at www.otcmarkets.com will allow the company to disclose important information to shareholders as well as to continually evaluate its position and potentially explore future market listing opportunities as Green Globe reaches certain milestones.
"Having an incredibly powerful international brand that is well positioned for growth in a world seeking greater levels of sustainability by businesses, organizations, governments and individuals, we believe that this is the most appropriate strategy moving forward. We intend to alert our shareholders whenever new information is added to our profile at www.otcmarkets.com."
The Green Globe brand and program, which traces its roots back to the United Nations Rio de Janeiro Earth Summit in 1992, where 182 Heads of State endorsed the Agenda 21 principles of Sustainable Development, has primarily been used in the travel and tourism industry but is now being expanded to include a growing number of environmentally responsible businesses in a variety of market sectors. The Green Globe brand is an ideal symbol for the world's increasing awareness of environmental responsibility and response to global climate change.
The company encourages all shareholders and others interested in following the progress of the Green Globe brand to subscribe to receive email alerts whenever new information is made public. To subscribe, please visit http://www.greenglobeint.com/stayconnected/email/.
About Green Globe International, Inc.
Green Globe International, Inc. is the worldwide owner of the Green Globe brand, which includes the leading sustainability certification and benchmarking programs, carbon footprint calculation and offset programs, and a broad range of consulting services. Green Globe International has been admitted as an affiliate member of the United Nations World Tourism Organization. The World Travel & Tourism Council (WTTC), the business leaders' forum for the travel and tourism industry, is a 5% common stock owner of Green Globe International. For more information on the company and its programs, please visit www.greenglobeint.com.
For information on Green Globe Certification, please visit www.greenglobe.com. To see sustainable travel options, please visit www.greenglobe.travel.
Green Globe services in the Asia Pacific are distributed, managed and sold exclusively by Green Globe Asia Pacific (GGAP) through EC3 Global. If you would like further information on GGAP, please visit www.greenglobe.org.
The Green Globe International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6582
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Green Globe International, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.