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Green Automotive Co. completes merger with subsidiary

Matter of Time I will be absorbed into its parent as a result of the reorganization.

By Kristina WongPublished: February 13, 2012 07:00 AM

Newport Beach-based Green Automotive Co.  completed the merger process with its subsidiary Matter of Time I Inc., as the company signed a Merger Agreement and Plan of Reorganization on Feb. 10. With this agreement, Matter of Time Inc. will become a part of the Green Automotive Co.

“The merger will close following the filing of the Matter of Time annual report on Form 10-K,” said Fred Luke, president of Green Automotive. “The completion of the audited financial statements for Green Automotive, following which Green Automotive expects to file its Form 8-K, will include full registration disclosure of the combined business and financial statements.

“As a ‘reporting issuer,’ in order to serve all of our current and future shareholders in a more efficient manner, Green Automotive will be switching over to email distribution of its quarterly and annual financial reports, other periodic material events as required on Form 8-K, and direct delivery of all news announcements,” Luke added.  “To effectively do this, we are asking shareholders and those following the company to complete the form that the company will be mailing soon. This will enable us to deliver all pertinent information to our shareholders and those following the company, either electronically in real time, concurrently with the filing of reports with the SEC and release of news to the news agencies.”

Green Automotive Co. recently signed a partnership deal with Niyato Industries. The firms will work together to create a wide distribution of all-electric vehicles on the market by 2015.

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