Enerkon Solar International (OTC: ENKS) announces Corporate Updates
Enerkon Solar International (OTC: ENKS) reported compliance updates, detailing corporate actions to enhance shareholder value. Chairman Benjamin Ballout announced plans to accept international investors' purchases of control shares, facilitating a non-dilutive strategy. The company has canceled 32 million shares and is preparing for a change in ownership to new investors focusing on high-tech sectors. Enerkon will also return shares related to a failed Coviklear acquisition, alleviating a debt burden. Future operations aim to pivot towards scientific and tech developments, promising enhanced shareholder protections.
- Cancellation of 32 million shares, supporting non-dilution.
- Plans for ownership change focusing on high-tech and scientific sectors.
- Return of Coviklear shares reduces financial liabilities.
- Compliance issues may raise concerns among investors.
- Uncertainty surrounding future operations in the renewable energy market.
New York, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Enerkon Solar International (OTC: ENKS) announces today the details on the status of the company – compliance issues – corporate actions in the benefit of long-term shareholder value and future shareholder prosperity.
Today, the Chairman Mr. Benjamin Ballout States that:
Enerkon Solar International (OTC: ENKS) has agreed to Accept International Investors Purchase of the Chairman’s control shares in exchange the purchasers secured promissory note in an amount market to market and in accordance with the Securities Rules and Regulations
Mr. Ballout holds control shares of ENKS and started the company from its private company status in 2016 registering as a public entity in 2017 growing the firm over the last 5 years and selling NO shares whatsoever from his holdings and disallowing former owners from selling any shares via his federal action against them in the State of Nevada last year asking the court to cancel 14.5 M shares of their holdings that the company feel was not legitimately held.
The chairman embarked upon many non-dilutive actions such as cancelling 25 million shares of his common stock converting them to restricted preferred shares last year (100:1 exchange) reducing the total OS shares by a very large percentage, and last week Mr. Ballout Cancelled an additional 7 Million shares in conversion to preferred in a preparation to execute the sale of his holdings in restricted form to new international investors who are in the High Tech / Research and Scientific Business.
In compliance with FINRA regulations the company will infirm 10 days in advance of any RECORD DATE for final execution of the share transfer and sale/Change of effective Control of ENKS to the new owners – This notice is expected to be delivered early this week with the proper forms and fees paid for review and other administrative actions
New owners will submit New Name Change and New CUSIP symbol Change form and request to FINRA/OTC as well as inform the Transfer agent – DTC - Attorneys and other outsource, such as Auditors or any service providers such as OTCIQ subscription service.
The chairman states that after detailed analysis of the Renewable Energy Market in the USA it is more valuable to accept a sale in addition to control shares – all additional assets related to renewable energy similar holdings to become a private enterprise again and list in the early future in the UK AIM market instead of the USA OTC (ARS) – therefore the Investors will purchase from the company these assets on legitimately discounted market value including MOUs contracts and other considerations on the same time as change of control shares are purchased from the Chairman.
The New owners agree to lock box and non-dilution policy for any shares purchased and will not resell into the market and will at all times protect the shareholder value in the same way the Chairman has done over the past 5 years
In addition to the actions mentioned herein which will conclude within the 10-day notice record date rule of FINRA for change of control – the company has decided to Cancel the Coviklear purchase and return all shares – further cancelling the
Further the New owners will reorganize the company into a high-tech – scientific, research and development company holding valuable intellectual property rights related to compression technology, encryption and other technology connected to Defense, Bio-Tech, Agri-Tech, Geno-Tech, Artificial Intelligence and related disciplines – supported by their team of scientists and experts – according to their initial talks which we expect to conclude with final agreements in this week – for which the same will be published in detail
The Chairman will continue to cooperate with the SEC in their inquire related to Mansfield Mining and other Microcap Companies – and will continue to prosecute former owners when the company was called CHOD under the above-mentioned action in Nevada as an amicus curie (friend of the court) – The Chairman will further consult where needed to guarantee a smooth transaction to the new ownership for the enhanced value and protection of shareholder value where needed and as long as needed.
The Chairman Message to ENKS shareholders today is March on to Success and Prosperity under new ownership for which we have conducted diligence and are very sure are the best choice for the enhanced – guaranteed value and protection of ENKS shareholders going forward and the new Legal personality and ownership, business direction and commercial altitude is absolutely beneficial and positive for the future in the view of the Chairman who has worked diligently for shareholders over these 5 years with a flawless record of protecting shareholder value and increasing shareholder value
The Chairman stated today that he is certain that shareholders will benefit greatly from their new company owners and the new business model and activities, and he is very pleased to be a part of this great and positive transition.
The foregoing statements are forward-looking statements, and as such, they may or may not reflect the results which could transpire in the future which should be negative or not transpire at all due to circumstances or other reasons and investors, shareholders, or others should not rely on these forward-looking statements to ascertain any value if any of ENKS or to make any investment decisions and to take note that this is not an offer to buy or sell securities or an endorsement of ENKS for investment purposes as all investment carry a risk of loss sometimes a total loss of your investment in Micro cap shares markets or any market and therefore such statements or plans should not be relied upon for any business decisions of any kind - Approval and permissions required by federal regulations may or may not be approved and if not approved may result in the loss of all value and all investments in products requiring such regulatory permissions to market and sell. These statements are made as forward-looking statements for educational purposes only in accordance with the rules and regulations which pertain to the same – the Company trades on the Expert Market under the OTC CE designation and Market Makers nor Broker Dealers may publish unsolicited quotes pursuant to rules 15 c 2 11 and accordingly until the company reached the current information status back to Pink Current classification these restrictions remain.
Enerkon Solar International Inc.
6th Floor - #6834
477 Madison Avenue
New York, NY 10022 USA
Tel. +1 (877) 573-7797
Tel. +1 (718) 709-7889
www.enerkoninternational.com
info@enerkoninternational.com
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