MDCE / Infinite Auctions (OTC PINK: MDCE) Initiates Plan to Incrementally Reduce the Outstanding Share Count by Slashing 200 Million Shares in phase one and explains the Benefits of funding plan.

Rhea-AI Summary

Medical Care Technologies Inc. (OTC PINK: MDCE) / Infinite Auctions has announced a strategic plan to reduce its outstanding share count, starting with a 200 million share reduction in Phase One. CEO Marshall Perkins aims to return shares to treasury through multiple initiatives. As part of this shareholder-friendly approach, Perkins has voluntarily reduced his proposed salary from $250,000 to $85,000, allocating more resources to inventory flips.

The company plans to raise capital through a Reg A offering to fund key business initiatives, including auction advances, inventory, marketing campaigns, and participation in national collector conventions. The proceeds will also be used to hire qualified staff and eliminate all interest-bearing debt. MDCE expects these moves to enhance its bottom line and drive sustainable growth while maintaining open communication with investors.

Positive

• Initiating a plan to reduce outstanding share count by 200 million shares in Phase One
• CEO voluntarily reduced salary from $250,000 to $85,000, allocating more resources to profitable inventory flips
• Plans to raise capital for key business initiatives through Reg A offering
• Aim to eliminate all interest-bearing debt to improve financial health

Negative

• Potential dilution from future Reg A offering

MESA, Ariz., Oct. 17, 2024 /PRNewswire/ -- Medical Care Technologies Inc. (OTC PINK: MDCE) / Infinite Auctions today announced the initiation of its strategic plan to incrementally reduce the outstanding share count, beginning with a reduction of 200 million shares in Phase One.

This reduction marks the first of multiple planned initiatives by CEO Marshall Perkins to return shares of MDCE back to treasury.

"Listening to the concerns of our investors is a top priority," said CEO Marshall Perkins. "This reduction in shares and the careful management of our future Reg A offering are part of our long-term strategy to drive shareholder value and strengthen our company from top to bottom. We will always adhere to all laws, limits and regulations while keeping our shareholders informed on major developments during the process."

CEO Marshall has also made a significant commitment to shareholders by voluntarily reducing his proposed salary from $250,000 to $85,000. This adjustment will allocate more resources toward inventory flips, an area that has proven highly profitable during the company's peak revenue periods. The share count will continue to be incrementally reduced over time, ensuring a shareholder-friendly approach to growth.

The offering is designed to raise capital to fund key business initiatives, including auction advances, auction inventory, marketing campaigns, investor relations, and participation in national collector conventions. The proceeds will also be used to hire qualified staff and eliminate all interest-bearing debt, a move that will help improve the company's financial health and overall valuation. By focusing the capital on profitable revenue-generating opportunities, MDCE expects to enhance its bottom line and drive sustainable growth.

MDCE remains committed to maintaining open communication with its investors and will continue to provide regular updates and exciting news as the company progresses with its growth initiatives.

About Medical Care Technologies Inc. / Infinite Auctions

Medical Care Technologies Inc. / Infinite Auctions is an online auction platform that specializes in high-end sports memorabilia, collectibles, and investment-grade assets. The company's mission is to offer unique, valuable items to collectors worldwide through both public auctions and private sales.

Contact Information:
https://www.infiniteauctions.com
https://twitter.com/bidsellconsign
https://instagram/infiniteauctions 
info@infiniteauctions.com

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated.

Source: Medical Care Technologies Inc. / Infinite Auctions LLC. (OTC PINK: MDCE)

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SOURCE Medical Care Technologies Inc. / Infinite Auctions LLC

FAQ

How many shares is MDCE (OTC PINK: MDCE) reducing in Phase One of its share reduction plan?

MDCE is reducing 200 million shares in Phase One of its share reduction plan.

What is the new proposed salary for MDCE's CEO Marshall Perkins?

CEO Marshall Perkins has voluntarily reduced his proposed salary from $250,000 to $85,000.

What are the key business initiatives MDCE plans to fund with the Reg A offering?

MDCE plans to fund auction advances, auction inventory, marketing campaigns, investor relations, participation in national collector conventions, hiring qualified staff, and eliminating interest-bearing debt with the Reg A offering proceeds.

How does MDCE plan to enhance its bottom line and drive sustainable growth?

MDCE plans to focus capital on profitable revenue-generating opportunities, such as inventory flips, and eliminate interest-bearing debt to improve financial health and overall valuation.