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American Video Teleconferencing Corp. (AVOT) announced the Nevada Court's approval to cancel 16,525,000 shares deemed invalid, resulting in a total of 51,831,701 outstanding shares post-cancellation. The company claims this action is a significant achievement, as it eliminates shares issued without payment by prior management. The firm is transitioning from an e-commerce web portal to a diversified real estate marketplace, branded as Real Estate Eagle Firm.
American Video Teleconferencing Corp. (OTC PINK:AVOT) announced its intent to seek a declaratory judgment to authorize the cancellation of almost 26,000,000 shares issued by previous management between 1999 and 2012, for which payment was not confirmed. Current management aims to protect the interests of legitimate shareholders and has returned relevant certificates to the transfer agent. This action has resulted in a reduction of outstanding shares by approximately 63,000,000. The company is transitioning from an e-commerce focus to a diversified real estate marketplace.
American Video Teleconferencing Corp. (OTC PINK:AVOT) announced the engagement of M&K CPA's, PLLC to audit its financials for 2018, 2019, and two quarterly statements from 2020. This move is part of the company's strategy to become a fully reporting corporation. The audit will cover both AVOT's financial statements and those of its recently acquired business, WYSH Investments, LLC. Additionally, the company is in the process of canceling stock certificates issued without consideration, reflecting its commitment to corporate governance.
American Video Teleconferencing Corp. (AVOT) announced significant organizational and management changes on September 10, 2020. Mr. Arnulfo Saucedo-Bardan has transitioned from Chairman of the Board to Chief Administrative Officer while remaining on the board. Mr. Brian D. Colvin takes over as Chairman and continues as Vice President. These adjustments aim to enhance the company's alignment for future success. The Board remains intact at seven members. The company has pivoted its strategy from an e-commerce web portal to a diverse real estate marketplace.
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