Gen2 Technologies (MNIZ) Announces Offering Change to Further Shareholder Value

Rhea-AI Summary

Gen2 Technologies Inc. (OTC: MNIZ) announced a reduction in its Reg A offering from $6 million to $2 million following managerial changes. CEO Michael Kovacocy emphasized a commitment to shareholder value and minimizing dilution. The company seeks non-dilutive financing options, including the Iris Token with an NFT component, aiming for substantial market demand. This strategic move is intended to align capital usage with the company's market capitalization, which is currently in the mid-single digits of millions of USD. The reduction reflects a disciplined approach to capital management.

Positive

• Reduction of Reg A offering size from $6 million to $2 million to minimize dilution.
• Focus on non-dilutive financing options like the Iris Token with NFT integration.

Negative

• Need to raise capital to meet business requirements.
• Risks associated with the commercialization of new products and competition.

HENDERSON, Nev., March 23, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is pleased to inform its loyal shareholders that subsequent to a review of capital policy following recent managerial and officer changes, the Company will be amending its Reg A offering filing amount from the previous $6m down to $2m in aggregate. Furthermore, management wishes to remind investors that it reserves the right to raise a materially lower amount than the aggregate limit.

Mr. Michael Kovacocy, CEO Gen2 Technologies stated, "We are continually evaluating our options to grow the business on shareholder accretive terms and avoiding dilution as much as possible. We have non-dilutive financing prospects such as our Iris Token which will now come layered with an NFT option which we feel will see substantial demand in the marketplace.  For a company with our market capitalization currently circa mid single digits millions of USD, we find an offering of aggregate potential size of $6m sends the wrong message regarding our discipline on capital usage and anti-dilution goals. Hence the maximum offer will be cut in size by 2/3."

For further queries, please feel free to email the Company at: michael.kovacocy@gen2technologies.com

Gen2 Technologies Inc. (OTC PINK: MNIZ), The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as "will," "anticipate," "believe," "plan," "estimate," "expect," "intend," "is targeting," "may," "should," ''poised,'' and other similar words or expressions. Forward-looking statements are made based upon management's current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on Gen2 Technologies Inc.'s website, http://www.brkgen2.com does not constitute a part of this release.

Contact:

michael.kovacocy@gen2technologies.com 
brkgen2.com 
(440) 597-6150

 

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SOURCE Gen2 Technologies Inc.

FAQ

What recent changes did Gen2 Technologies Inc. announce regarding its Reg A offering?

Gen2 Technologies Inc. reduced its Reg A offering from $6 million to $2 million to better reflect its capital management strategy.

How does the change in offering size benefit Gen2 Technologies shareholders?

The reduction in offering size aims to minimize shareholder dilution and align capital usage with the company's market capitalization.

What is the significance of the Iris Token mentioned in the press release?

The Iris Token is a non-dilutive financing option that will include an NFT element, which management believes will have substantial demand.

What are the potential risks associated with Gen2 Technologies' business plans?

Potential risks include challenges in product commercialization, increased competition, and the need for capital to meet operational needs.