Grandparents.com, Inc. (OTCMKTS:GPCM) Files An 8-K Other Events
Item8.01 Other Events
On February 2, 2017, the Board of Directors of Grandparents.com,
Inc. (OTCBB: GPCM), a Delaware corporation (the Company), held a
meeting to discuss, among other things, the current level of
revenues and expenses being generated by the Company and the
diminishing cash flow levels being experienced as a result of the
amount by which current expenses are exceeding current revenues.
At this meeting, the Board of Directors established a special
committee of directors (the Committee) to consider the potential
deregistration of the Companys common stock with the Securities
and Exchange Commission as a means of reducing expenses, as well
as any other feasible alternatives to address the liquidity
shortfall.
The Committee, comprised of Messrs. Clement S. Dwyer, Jr. and
Andrew Foote, has been given a broad mandate to evaluate the
costs and benefits associated with operating as a publicly traded
company and the economic impact of deregistration, and to make
its recommendations to the Board of Directors. Although no
specific time frame has been established for the Committee to
complete its review and make its recommendations, it is
anticipated that the Committee will complete its review during
the first quarter of 2017.
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About Grandparents.com, Inc. (OTCMKTS:GPCM)
Grandparents.com, Inc. owns and operates the Grandparents.com Website. As a membership organization and social media community, the Company connects grandparents, seniors and boomers to differentiated, discounted products and services. The Company’s Website offers content on health and wellbeing, relationships and finances, as well as other topics, such as recipes and travel tips. The Company’s Website is primarily a social media platform targeting active, involved grandparents. Along with its Website, the Company’s membership association, the American Grandparents Association (AGA) was formed to unite grandparents, boomers and seniors. Members of the AGA have access to a range of benefits, including discounts on products and services. AGA members can access community features of the Company’s offerings, including discussions, blogs, games and content, as well as other products and services, which are offered exclusively to AGA members. Grandparents.com, Inc. (OTCMKTS:GPCM) Recent Trading Information
Grandparents.com, Inc. (OTCMKTS:GPCM) closed its last trading session 00.0000 at 0.0155 with shares trading hands.
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