GPGC Global Pole Trusion Group Corporation (PK)

Sebastian River Holdings, Inc. (OTC:SBRH), releases the following statement today: The Company has recently filed its Q3 2012 report to satisfy requirements for OTC PINK Current Information Tier on OTCMarkets.

The report includes an amended statement for Q3 2012 that reflects a significant decrease in line item assets. It is important to note that this action was performed in the best interests of the company and its shareholders on advice from counsel. This will allow the company to complete due diligence on the notes, debentures, subsidiaries, consulting agreements, equity purchase agreements and other contracts reported by previous management.

The company, on behalf of its shareholders, has begun an investigation to determine the validity and recoverability of these various instruments. Management has attempted to reach the parties to each agreement with no response to date. As a result, management is considering moving forward with a collection agency to ensure each note is pursued aggressively toward the best possible outcome without taking away from day-to-day operations.

As each instrument is fully or partially recovered, which may also result in the acceptance of certain debtors revoking the control block of their public vehicles to Sebastian, it will be reported to shareholders promptly and added to the company’s income statement. If an instrument is found to be invalid, unrecoverable or otherwise, it will also be reported as such.

Management is confident these actions will protect the company and its shareholders, as multiple attempts to correspond directly with prior management on the issue of recovering debts owed to the company, were refused. In addition, prior management declined to comment on the detailed circumstances surrounding each instrument.

All things considered, management maintains belief that its collection efforts may lead to an increase in revenue in furtherance of long-term growth and shareholder value. The bottom line, to shareholders, is that this company, first and foremost, is a company with a real business model, real developments and realistic goals moving toward long-term growth and near term revenues.

We have reported as such, and because previous management has not yet addressed details about company assets, it is in the best interest of all involved, to have these removed as is reflected in the current report.

It is important to note, that on an unrelated issue, the need to assess recoverability of assets arose when management discovered that a third party debt holder sold a large block of shares issued by means of a convertible note to another third party. Prior to issuing shares, The Company’s former CEO requested that majority shareholder, Mark B. Newbauer, retire 150,000,000 common shares of his personal holdings in the Company to increase shareholder value without receiving any consideration.

Newbauer agreed and retired the shares to benefit the shareholders and shareholder value. A Share Purchase Agreement was executed by the third parties in which the former CEO issued shares per the conversion notice of the debt holder’s convertible note and the receiving party defaulted on payment of the note for the shares. Newbauer believes he was asked to retire his shares so that a transaction could take place with the third party without affecting the Company’s current share structure.

Further, the Company believes that the recipient of the shares is responsible for the recent spike in sales volume and it was reported by the note holder recently that the recipient of the shares is still in default with respect to payment. Finally, the Company is prepared to issue material updates on progress immediately, followed by additional achievements in the future.

Management is confident shareholders will be pleased with what has been accomplished on the Operations side in the last few weeks and are confident the share price will reflect this success. Each and every move since the inception of new management has been to fundamentally benefit the company and its shareholders and management is confident that this will be reflected in shareholder value moving forward. We have invested our capital into our oil lease, which means that we have a pro rata ownership in a large lease and its wells to the benefit of shareholders.

In addition, the Company has identified an individual from the Midwest that has agreed to support the company's endeavors via private investment utilizing a convertible note. Management feels this will enable expedited growth and increase in overall shareholder value. As well the Company confirms it has no plans for a reverse split for the foreseeable future.

This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:Sebastian River Holdings, Inc.Peter Matousek, 424-258-0167

Global Pole Trusion (PK) (USOTC:GPGC)
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