CW Petroleum Corp (OTCQB: CWPE) Reduces Outstanding Shares by 81.66% Through Share Exchange Transaction
CW Petroleum Corp (OTCQB: CWPE) has announced a significant reduction in its outstanding shares of common stock, decreasing from 122,445,898 to 22,445,898, representing an 81.66% reduction. This change was achieved through a share exchange transaction where CEO Christopher Williams exchanged 100,000,000 restricted shares of common stock for 1,000,000 shares of Series A Preferred Stock.
The company states that this move aims to improve its share structure, potentially enhancing access to growth capital and increasing market liquidity for its common stock. Mr. Williams noted that the company's revenues for the first nine months of 2024 were $6.27 million. The share exchange reflects Mr. Williams' previous ownership structure from 2022 and was initially implemented due to a potential capital raise and Nasdaq uplist in 2023, which did not materialize.
CW Petroleum Corp (OTCQB: CWPE) ha annunciato una riduzione significativa delle sue azioni ordinarie in circolazione, passando da 122.445.898 a 22.445.898, con una riduzione dell'81,66%. Questo cambiamento è stato raggiunto attraverso una transazione di scambio azioni in cui il CEO Christopher Williams ha scambiato 100.000.000 di azioni ordinarie riservate per 1.000.000 di azioni di Serie A Preferite.
L'azienda afferma che questa mossa mira a migliorare la sua struttura azionaria, potenzialmente aumentando l'accesso a capitale per la crescita e incrementando la liquidità di mercato per le sue azioni ordinarie. Il signor Williams ha notato che i ricavi dell'azienda per i primi nove mesi del 2024 erano pari a 6,27 milioni di dollari. Lo scambio di azioni riflette la struttura di proprietà precedente del signor Williams dal 2022 ed è stato inizialmente implementato a causa di un potenziale aumento di capitale e dell'up-listing su Nasdaq nel 2023, che non si è poi concretizzato.
CW Petroleum Corp (OTCQB: CWPE) ha anunciado una reducción significativa en sus acciones ordinarias en circulación, disminuyendo de 122,445,898 a 22,445,898, lo que representa una reducción del 81.66%. Este cambio se logró a través de una transacción de intercambio de acciones en la que el CEO Christopher Williams intercambió 100,000,000 de acciones ordinarias restringidas por 1,000,000 de acciones de la Serie A Preferida.
La compañía indica que este movimiento tiene como objetivo mejorar su estructura acionaria, potencialmente mejorando el acceso a capital de crecimiento y aumentando la liquidez del mercado para sus acciones ordinarias. El Sr. Williams notó que los ingresos de la compañía durante los primeros nueve meses de 2024 fueron de 6.27 millones de dólares. El intercambio de acciones refleja la estructura de propiedad previa del Sr. Williams desde 2022 y se implementó inicialmente debido a una posible recaudación de capital y un listado en Nasdaq en 2023, que no se materializó.
CW Petroleum Corp (OTCQB: CWPE)는 일반 주식의 발행 주식을 크게 줄였으며, 발행 주식 수가 122,445,898주에서 22,445,898주로 감소했으며, 이는 81.66% 감소를 의미합니다. 이 변화는 CEO Christopher Williams가 1,000,000주의 A 시리즈 우선주와 100,000,000주의 제한된 일반 주식을 교환함으로써 이루어졌습니다.
회사는 이 조치가 주식 구조를 개선하고 성장 자본에 대한 접근성을 높이며 일반 주식에 대한 시장 유동성을 증가시키기 위한 것이라고 설명했습니다. Williams 씨는 2024년 첫 9개월 동안 회사의 수익이 627만 달러였다고 언급했습니다. 주식 교환은 2022년 Williams 씨의 이전 소유 구조를 반영하며, 2023년에 가능한 자본 조달 및 나스닥 상장 추진으로 인해 처음 시행되었습니다. 그러나 이 계획은 구체적으로 실행되지 않았습니다.
CW Petroleum Corp (OTCQB: CWPE) a annoncé une réduction significative de ses actions ordinaires en circulation, passant de 122.445.898 à 22.445.898 actions, soit une réduction de 81,66%. Ce changement a été réalisé à travers une transaction d'échange d'actions où le PDG Christopher Williams a échangé 100.000.000 d'actions ordinaires restreintes contre 1.000.000 d'actions de la Série A Préférée.
L'entreprise précise que ce mouvement a pour but d'améliorer sa structure d'actions, ce qui pourrait faciliter l'accès à du capital de croissance et augmenter la liquidité sur le marché de ses actions ordinaires. M. Williams a indiqué que les revenus de l'entreprise pour les neuf premiers mois de 2024 s'élevaient à 6,27 millions de dollars. L'échange d'actions reflète la structure de propriété antérieure de M. Williams depuis 2022 et a été initialement mis en œuvre en raison d'une éventuelle levée de fonds et d'une cotation au Nasdaq en 2023, qui n'a pas abouti.
CW Petroleum Corp (OTCQB: CWPE) hat eine erhebliche Reduzierung seiner ausstehenden Stammaktien angekündigt, die von 122.445.898 auf 22.445.898 gesenkt wurde, was einer Reduzierung von 81,66% entspricht. Diese Änderung wurde durch eine Aktienumtauschtransaktion erzielt, bei der CEO Christopher Williams 100.000.000 eingeschränkte Stammaktien gegen 1.000.000 Aktien der Serie A Vorzugsaktien getauscht hat.
Das Unternehmen erklärt, dass dieser Schritt darauf abzielt, die Aktienstruktur zu verbessern, was potenziell den Zugang zu Wachstumskapital verbessert und die Marktliquidität für seine Stammaktien erhöht. Herr Williams stellte fest, dass die Einnahmen des Unternehmens in den ersten neun Monaten des Jahres 2024 6,27 Millionen Dollar betrugen. Der Aktienumtausch spiegelt die vorherige Eigentümerstruktur von Herrn Williams aus dem Jahr 2022 wider und wurde ursprünglich aufgrund einer möglichen Kapitalerhöhung und eines Nasdaq-Listings im Jahr 2023 implementiert, was jedoch nicht realisiert wurde.
- Reduction of outstanding common shares by 81.66%, potentially improving share structure
- Reported revenues of $6.27 million for the first nine months of 2024
- Potential for improved access to growth capital and increased market liquidity
- Previous plans for capital raise and Nasdaq uplist in 2023 did not materialize
Katy, Texas, Oct. 22, 2024 (GLOBE NEWSWIRE) -- CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announces to its investors and future investors it has reduced its Outstanding Shares of Common Stock from 122,445,898 to 22,445,898, an
Chief Executive Officer, Christopher Williams, has elected to exchange his 100,000,000 restricted shares of Common Stock for 1,000,000 shares of Series A Preferred Stock to reflect Mr. Williams’ previous ownership in 2022. The original share exchange occurred on June 14, 2022, and was effectuated due to a potential capital raise and up list to Nasdaq in 2023, which did not occur.
6.14.2022 - Form 1-U
2.10.2023 - Form 1-U
Mr. Williams commented, “We are committed to growing the Company and providing shareholder value. This share exchange will help place the Company in a better share structure, allowing greater access to growth capital and greater market liquidity for its common stock in the open market. Company revenues for the nine months ended September 30, 2024 were
Additional accurate information about the Company can be found on the OTC Markets website at the following links and on the EDGAR filing website provided by the Securities and Exchange Commission:
CWPE Overview
CWPE Security Detail
CWPE Financials
CWPE News
CWPE Disclosures
For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com, or call 281-817-8099
About CW Petroleum Corp
CW Petroleum Corp was incorporated in the State of Texas on April 29, 2005, and began operations in 2011. On April 14, 2018, CW Petroleum Corp was incorporated in the State of Wyoming. On April 15, 2018, the Texas corporation became a wholly-owned subsidiary of the Company through a share exchange. CW Petroleum Corp (Wyoming) is a holding company and through our wholly-owned subsidiary, we supply and distribute biodiesel, biodiesel blends, ultra-low sulfur diesel, gasoline blends, renewable gasoline, and a proprietary EPA-approved reformulated no ethanol gasoline to distributors, convenience stores, and marinas.
Forward-Looking Statements
Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company’s most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company’s filings with the Securities and Exchange Commission.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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