Energy Finders, Inc Announces Shell Risk Removal and Common Share Buyback & Cancellation

Rhea-AI Summary

Energy Finders, Inc (OTC PINK: EGYF) announced that it has fulfilled the requirements to potentially remove its 'Shell Risk' designation by OTC Markets. Additionally, the company has made significant strides, including:

• Engaging Michael Best & Friedrich LLP for legal representation
• Hiring Turner & Stone for a two-year financial audit
• Buying back 3,000,000 common shares issued in 2009
• Appointing Keith Pivonski as Vice President

CEO Mohammed Zulfiquar expressed enthusiasm for these developments, indicating a commitment to transforming the company into a leader in renewable energy technology.

Positive

• Removal of 'Shell Risk' designation may enhance investor confidence.
• Buyback of 3,000,000 shares could increase shareholder value.
• Engagement of reputable legal and auditing firms may support future growth.

Negative

• None.

WASHINGTON, Nov. 30, 2022 /PRNewswire/ -- Energy Finders, Inc (OTC PINK: EGYF) - ("Energy Finders, Inc" or the "Company") is pleased to announce that it has met all of the necessary requirements for the "Shell Risk'' designation to be removed by OTC Markets (at its sole discretion) in advance of the company voluntarily filing a new Form 10 Registration with the SEC. Moreover, the company is additionally pleased to announce the following accomplishments over the past 90 days. 

• Engaged Michael Best & Friedrich LLP (Salt Lake City, UT) as our Securities Counsel & Form 10 Legal Representation
• Engaged financial auditor Turner & Stone (Dallas, Texas) to complete a two-year audit of our 2021 & 2022 financials
• Bought back 3,000,000 common shares previously issued to Ashland Atlantic Corporation in 2009
• Appointed Keith Pivonski as Vice President of Energy Finders, Inc

Mohammed Zulfiquar, CEO of Energy Finders, Inc stated, "I'm very enthusiastic to announce this first step in our exciting new plans for the company and its shareholders. These initial achievements demonstrate our total commitment to building Energy Finders, Inc into a disruptive technology powerhouse that positively impacts our planet at scale. This is only beginning of what we expect to be a long and rewarding journey for both our employees and our shareholders. We look forward to providing our next major announcement in the coming weeks and months."

About Energy Finders, Inc

Energy Finders, Inc is an innovation company in the field of renewable energy applications within global markets. The company has a desire to work toward upgrading to the OTC-QB market in 2023.

For more information on Energy Finders Inc, please email us at IR@energyfinders.us or call 301-401-1729 (8am-6pm EST).

Mohammed Zulfiquar, CEO
Energy Finders, Inc

Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.

View original content:https://www.prnewswire.com/news-releases/energy-finders-inc-announces-shell-risk-removal-and-common-share-buyback--cancellation-301690360.html

SOURCE Energy Finders, Inc

FAQ

What recent developments has Energy Finders, Inc (EGYF) announced?

Energy Finders, Inc announced the potential removal of its 'Shell Risk' designation, a share buyback, and new executive appointments.

How many shares did Energy Finders, Inc (EGYF) buy back?

The company bought back 3,000,000 common shares previously issued to Ashland Atlantic Corporation.

What is the significance of the 'Shell Risk' designation for EGYF?

The removal of the 'Shell Risk' designation may improve the company's market perception and attract more investors.

Who was appointed as Vice President of Energy Finders, Inc (EGYF)?

Keith Pivonski has been appointed as Vice President.

What firms were engaged by Energy Finders, Inc (EGYF) for legal and audit services?

Michael Best & Friedrich LLP was engaged for legal representation, and Turner & Stone was hired for financial auditing.