Announcement of Management Changes and Appointment of Chairman of the Board

Rhea-AI Summary

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.

Positive

• Introduction of new leadership with Mr. Brian D. Colvin as Chairman is expected to provide fresh perspectives.
• Strategic pivot towards a real estate marketplace may open new business opportunities.

Negative

• Departure of Mr. Arnulfo Saucedo-Bardan from the Chairman role may raise concerns about continuity in leadership.

LAS VEGAS, NV / ACCESSWIRE / September 10, 2020 / American Video Teleconferencing Corp. (OTC PINK:AVOT) today announced the following organizational and management changes along with the appointment of a new Chairman of the Board.

Mr. Arnulfo Saucedo-Bardan was appointed Chief Administrative Officer and is leaving his Chairman of the Board position with the company while remaining as a board member.

Mr. Brian D. Colvin will assume the role of Chairman of the Board and continue as Vice President of the Company.

Mr. Willy A. Saint-Hilaire, President and Chief Executive Officer of American Video Teleconferencing Corp., stated, "I'm pleased to announce these organizational changes as we align our company for success into the near future."

The Board remain at seven (7) members.

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 a diverse real estate marketplace endeavor.

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
contact@realestateeaglefirm.com

SOURCE: American Video Teleconferencing Corp.

View source version on accesswire.com:
https://www.accesswire.com/605531/Announcement-of-Management-Changes-and-Appointment-of-Chairman-of-the-Board

FAQ

What are the recent management changes at American Video Teleconferencing Corp. (AVOT)?

Mr. Arnulfo Saucedo-Bardan became Chief Administrative Officer, while Mr. Brian D. Colvin was appointed Chairman of the Board.

What is the impact of Mr. Brian D. Colvin's appointment on AVOT?

His appointment as Chairman is expected to bring new insights and guide the company towards its strategic goals.

Why has American Video Teleconferencing Corp. (AVOT) changed its corporate strategy?

The company has shifted from an international e-commerce web portal to focus on a diverse real estate marketplace to enhance growth opportunities.

Is the Board of Directors still the same after the management changes?

Yes, the Board remains at seven members following the recent management changes.