FASTBASE INC. (OTC: FBSE) ANNOUNCE REDUCTION OF AUTHORIZED SHARES

Rhea-AI Summary

Fastbase Inc. (OTC: FBSE) has announced a significant reduction in its authorized shares from 1 billion to 195 million, enhancing shareholder value and attractiveness for long-term viability. The CEO emphasized the company's commitment to not issuing excessive shares, reinforcing market trust. This strategic move aims to showcase transparency and long-term growth plans, as Fastbase continues to communicate updates to its shareholders. Fastbase's business focuses on providing data solutions for B2B lead acquisition and integrates seamlessly with Google Analytics.

Positive

• Reduction of authorized shares from 1 billion to 195 million demonstrates commitment to shareholder value.
• Strategic move enhances attractiveness for investors and supports long-term growth.

Negative

• None.

New York, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Fastbase Inc. (OTC: FBSE) is happy to inform shareholders that the company has reduced the current Authorized Share count. The transfer agent updated the number on Fastbase OTCmarket profile.

The number of authorized shares was 1 billion and is today reduced to 195 million.

Fastbase Inc. understands the value of reducing authorized share counts to increase shareholder value and to make the company more attractive for long term viability.

Mr. Refer, CEO, went on to say, “The company does not need to issue many shares. Therefore, this reduction.”. He continues:” Market trust is not easily built, but can be easily broken, we have plans for long term growth, and to bring shareholder value. We believe this is just one of many steps in our endeavor moving forward.”

This Authorized Share Reduction is a big move towards showcasing the company’s commitment to increased shareholder value and transparency. Fastbase is excited to bring the Authorized Share structure down to a level that the company feels is more attractive to investors. The company will continue to update shareholders via news and filings.

Fastbase Corp. is majority shareholder of Trustfeed Corp.

About Fastbase Inc.
Fastbase Inc. is a Nevada-registered web and data company that synthesizes Big Data to provide business insights faster and at a large scale. The company offers a growing suite of business solutions to support B2B lead acquisition, marketing, and sales, to provide business data processing and to support companies with intelligent data supply. Fastbase’s international lead acquisitions suite gathers and displays detailed information on website visitors, including the name of the company, contact information, email addresses and LinkedIn profiles. Fastbase’s success has been facilitated by its seamless integration with Google Analytics. Trustfeed is the most recent of Fastbase’s software developments and disrupting the community-based consumer review site paradigm. It is a company and product review site that was designed to accurately reflects users’ real experiences and show trusted reviews that are helpful to consumers, to sellers and the public. Fastbase data can be utilized with CRM systems and sales and marketing applications, such as Salesforce, HubSpot, Pipedrive and Mailchimp. Fastbase customers that use Google Analytics can easily access a detailed list of their website visitors for the past 24 months. Fastbase provides a listing of companies searching for specific products, services or businesses and gives B2B marketers a much better chance of creating a prospective sale or helping determine if marketing efforts are effective. Fastbase’s Global Media unit is responsible for monitoring the huge demand for data information/intelligence services to support B2B businesses and incubating leading-edge solutions.

Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets, and the demand for products. Forward-looking statements are no guarantee of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.

Fastbase Inc.
140 Broadway, 46th Floor
10005 New York, United States 

CONTACT:
RL@Fastbase.com
https://www.Fastbase.com/
Twitter: @FastbaseC

FAQ

What is the significance of Fastbase's share reduction announcement on Nov. 22, 2022?

Fastbase reduced its authorized shares from 1 billion to 195 million, which is intended to enhance shareholder value and attractiveness for long-term growth.

How does Fastbase's authorized share reduction impact shareholders?

The reduction in authorized shares aims to increase shareholder value and market trust, making the company more appealing to investors.

What did the CEO of Fastbase say about the share reduction?

The CEO stated that the company does not need to issue many shares and emphasized the importance of market trust and long-term growth.

What type of company is Fastbase Inc.?

Fastbase Inc. is a data and web company that provides business solutions for B2B lead acquisition and marketing, integrating with platforms like Google Analytics.