LUSI Board Approves Dramatic Capital Structure Change: Authorized Shares Cut In Half

Rhea-AI Summary

MMA Global, Inc. (OTC Pink: LUSI) has announced a significant corporate action, reducing its authorized shares from 1.95 billion to 975 million. This decision follows a previous reduction in 2021 when shares were cut from nearly 4 billion. The board aims to enhance shareholder value and provide flexibility for future growth, acquisitions, and capital opportunities. These steps reflect a strategic approach to rightsizing its capital structure.

Positive

• Reduction of authorized shares from 1.95 billion to 975 million enhances shareholder value.
• Previous share reduction in 2021 shows a consistent commitment to capital structure optimization.

Negative

• None.

LAS VEGAS, March 23, 2022 (GLOBE NEWSWIRE) -- MMA Global, Inc. (OTC Pink: LUSI) (the “Company” or “ZUKI.APP”) (name and ticker symbol change pending) is pleased to announce that yesterday evening after trading hours the board of directors of the Company approved a resolution that will halve the Company’s authorized shares from 1.95 Billion shares to 975 Million shares.

In 2021, the Company’s board took similar action to halve its authorized shares from nearly 4 Billion shares to 1.95 Billion shares. Taken together, these two moves represent the board’s commitment to rightsizing its capital structure for purposes of: (1) preserving and building shareholder value; and (2) providing flexibility so that the Company may respond to growth, acquisition, and capitalization opportunities as they present themselves.

About ZUKI.APP

Learn more about the Company and its subsidiaries at https://www.zuki.app/zuki-group.

Forward-Looking Statements Notice

This press release includes statements that may be deemed "forward-looking statements" and, as such, is subject to the forward-looking notice disclaimer found at https://www.zuki.app.

FAQ

What recent changes did MMA Global Inc. (LUSI) make regarding its authorized shares?

MMA Global, Inc. has reduced its authorized shares from 1.95 billion to 975 million.

How does the reduction of authorized shares impact shareholders of LUSI?

The reduction is aimed at preserving and building shareholder value.

When did MMA Global Inc. previously reduce its authorized shares?

The company previously halved its authorized shares in 2021.

What are the goals behind MMA Global Inc.'s share reduction?

The goals are to enhance shareholder value and maintain flexibility for future growth and acquisitions.

What is the current ticker symbol for MMA Global Inc.?

The current ticker symbol is LUSI.