Greenland Corporation Shareholders Approve Sale of Shares to Imaging Technologies and Reverse Stock Split.

PR Newswire | October 17, 2002 | Copyright

SAN DIEGO -- Greenland Corporation (BULLETIN BOARD: GLCP) today announced that at a Special Meeting of Shareholders held October 15, 2002, shareholders approved the sale by Greenland of shares of Greenland common stock to Imaging Technologies, Inc. Corporation (BULLETIN BOARD: IMTO) and a 50-1 reverse stock split of Greenland common stock.

Thomas Beener, CEO of Greenland reported that ITEC will be issued 60% of the issued and outstanding shares of Greenland. The purchase price of $2,250,000 for the shares will be paid through a convertible notes issued by ITEC. ...

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