Coro Global Inc. Expects to Return to Operations in 2022
Coro Global plans to resume operations by the end of Q1 2022 and will hold its first annual shareholder meeting. CEO David Dorr emphasized gold's enduring value amidst rising inflation, citing significant currency devaluation in Turkey. In response to a meritless lawsuit filed against it, Coro Global initiated a countersuit against former directors, expressing confidence in a favorable outcome. The company aims to enhance user engagement through a mobile app for gold exchange and will publish monthly updates on its progress starting January 15, 2022.
- Plans to resume operations by end of Q1 2022.
- First annual shareholder meeting will be held.
- Confident in legal outcome regarding the meritless lawsuit.
- Filed against by a meritless lawsuit, creating legal uncertainties.
- Risks associated with a history of losses and need for additional financing.
Miami, Florida , Dec. 21, 2021 (GLOBE NEWSWIRE) -- Coro Global Inc. (“Coro Global”) a Miami based fintech company announced today that it expects and hopes to resume operations by the end of Q1 2022 as well as to hold the Coro Global’s first annual shareholder meeting. Information regarding the logistics for the annual shareholder meeting and the agenda will be posted on Coro Global’s website (https://coro.global/) by the end of Q1 2022; the Board and management look forward to virtually gathering with our shareholders.
“This year has proven once again that gold’s role as money is timeless. Inflation rates are soaring worldwide, and currencies are losing their value. Just this year alone Turkey’s currency the lira has lost over
As Coro Global looks forward to embarking on a clean slate in the new year, Coro Global is taking stock of the events and lessons learned in 2021. Unfortunately, a meritless lawsuit was filed against Coro Global on October 1, 2021. Coro Global immediately initiated a counter suit against its former independent directors, corporate secretary and general counsel on November 15, 2021. Coro Global is confident it will succeed on the merits of its legal case. Shareholders may read the legal filings which are publicly available through the Miami-Dade Eleventh Circuit Online Portal (http://www.jud11.flcourts.org/).
Brian Dorr, Founder and COO, further commented, “Being a founder is about building your dreams in the face of adversity and if that requires rebuilding every aspect of the company then we’re prepared to do it one step at a time. We believe in the Coro Global’s mission and despite having had some tough hurdles, we’ve been blessed with highly talented and committed team members that share our vision along with our customers.”
Coro Global looks forward to engaging with its users again while also expanding its network to future customers in new countries who will likewise see the value in using an innovative and secure mobile app to exchange gold, the most resilient and trusted form of currency. With ever-changing times and tumultuous political landscapes ahead, Coro Global’s users can feel solid in their decision to trust in gold and Coro Global.
In the spirit of transparency and continued engagement, effective January 15, 2022, and every 15th of the month thereafter Coro Global will publish a monthly update that will be made publicly available for free on Coro Global’s website (https://coro.global/). The monthly update will provide current information about the Company’s progress as well as market views related to gold and currencies. Coro Global and its management look forward to continuing with its vision to bring gold back as trusted money within the modern financial system.
Cautionary Note Regarding Forward-Looking Statements
Matters discussed in this press release contain forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology, and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable law.
FAQ
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