Cornerstone Sustainable Energy, ("CSE") today announced that Cornerstone Program Advisors, LLC ("Advisors") and Sustainable Energy Industries, Inc. ("SEI") recently completed their previously announced merger transaction with Receivable Acquisition & Management Corporation ("RAMCO"), pursuant to which Advisors and SEI were acquired by, and have become wholly-owned subsidiaries of, RAMCO. Effective May 17, 2013, the combined entity began operating under the name of Cornerstone Sustainable Energy, pending the filling of an Information Statement with the SEC and an amendment to RAMCO's certificate of incorporation to change its name to Cornerstone Sustainable Energy, Inc.. The common stock will continue to be quoted on the OTC Bulletin Board under the trading symbol RCVA until the name change becomes effective.
The shareholders of Advisors and SEI received 90% of the fully diluted shares outstanding.
Commenting on the news, Thomas Telegades, Chief Executive Officer of RAMCO, noted, "The closing of this transaction completes the first phase of the Company's overall growth strategy. Our name change and listing as a publicly-traded company will provide Cornerstone Sustainable Energy with increased visibility and greater access to the financial markets, as we continue to build our energy infrastructure and alternative energy business going forward."
About Cornerstone Sustainable Energy, Inc.
Cornerstone Sustainable Energy, Inc., ("CSE") is focused on energy infrastructure development projects and delivering alternative energy solutions to a wide range of commercial and not-for-profit customers.
CSE's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to its ability to raise sufficient financing to implement its growth strategy, successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent report on Form 8-K and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.