GREM USA (OTCBB:GRMU) - GREM USA CEO Edward Miers announced to
shareholders on August 7th the action by the Board of Directors
approval to purchase up to 300,000,000 (three hundred million) shares
of GRMU common stock in the open market. The August 4th, 2006 8-K
filing outlines the details of the buy-back program with an estimated
value of up to $1,200,000 over the next two years. This buy-back will
commence on Monday August 7, 2006. Mr. Miers was quoted as saying, "The
current market conditions and our recent business developments are such
that buying our shares on the open market at these prices is a prudent
use of corporate funds while adding shareholder value." GREM USA, a
development stage company, engages in the design and manufacture of
handmade and mass-produced electronic and acoustic guitars, amplifiers,
and accessories. The company is based in Fort Wayne, Indiana.