American Video Teleconferencing Receives Nevada Court's Approval to Cancel 16,525,000 Shares
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.
- Cancellation of 16,525,000 shares improves the company's capital structure.
- Transition to a diversified real estate marketplace may open new revenue streams.
- Shares were issued without payment by prior management, indicating past mismanagement.
LAS VEGAS, NV / ACCESSWIRE / April 18, 2022 / American Video Teleconferencing Corp. (OTC PINK:AVOT) today announces that the final order considered a declaratory judgment authorized the Company's transfer agent to cancel the shares in question. The Company did not receive payment for these shares that were issued by prior management and adversely the court deemed the shares as invalid.
President/CEO of the company, Willy A. Saint-Hilaire, said "The Company made a tremendous achievement by canceling of all the shares to be known that were issued without consideration in prior management."
Following the Nevada Court's approval to cancel 16,525,000 shares, the total number of shares outstanding of common stock of the Company is 51, 831,701 (post-cancelation).
About American Video Teleconferencing Corp.
American Video Teleconferencing Corp., doing business as Real Estate Eagle Firm has changed its corporate strategy from that of an international e-commerce web portal to an innovative and diversified real estate marketplace endeavor.
https://realestateeaglefirm.com/
Forward-Looking Statement
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new business opportunities and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Willy A. Saint-Hilaire, President/CEO
American Video Teleconferencing Corp.
contact@realestateeaglefirm.com
SOURCE: American Video Teleconferencing Corp.
View source version on accesswire.com:
https://www.accesswire.com/697854/American-Video-Teleconferencing-Receives-Nevada-Courts-Approval-to-Cancel-16525000-Shares
FAQ
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