Marketing Worldwide Corporation Cancels Reverse Split and Seeks Alternative Means to Capitalize Operations

Rhea-AI Summary

Marketing Worldwide Corporation (OTC PINK:MWWC) has announced the cancellation of a reverse stock split, opting for non-dilutive methods to capitalize operations. Under the direction of TCO Robert Blagman, the Board of Directors identified key actions including retiring 470 million shares of Restricted Common Stock to improve the share structure. The company also plans to eliminate $100,000 in convertible debt, having secured verbal approval from the debt holder. Additionally, Marketing Worldwide Media will engage accredited investors through cashless warrants funded by corporate activities, aiming to enhance revenue without diluting existing shares.

Positive

• Cancellation of reverse split enhances shareholder value by preventing dilution.
• Retirement of 470 million shares improves the outstanding share structure.
• Plan to eliminate $100,000 in convertible debt reduces financial burdens.
• Engagement with accredited investors via cashless warrants aims to generate revenue without dilution.

Negative

• None.

CHEYENNE, WY / ACCESSWIRE / March 21, 2023 / Marketing Worldwide Corporation (OTC PINK:MWWC), ('the Company'), approves Cancelation of Reverse Split and seeks alternative means to capitalize operations.

Marketing Worldwide Corporation 'MWWC' is pleased to announce that the Board of Directors under the advice of 'TCO' Robert Blagman has decided to cancel the Reverse Split and proposes alternative means to capitalize operations through non-dilutive measures.

"There are always options, when we consider alternatives to support ongoing long-lasting growth," said 'TCO' Robert Blagman.

The Company ‘BOD' and ‘TCO' Robert Blagman have discussed several scenarios that benefit the shareholders; which, take into consideration the latest acquisition of ‘MWM' and the slew of projects currently in the pipeline, which has led to the actions list below:

• Marketing Worldwide Cancels the Reverse Split
• ‘MWWC' has identified 470 Million shares of Restricted Common Stock that will be retired to the treasury over the next few weeks; this will clean and reduce the outstanding share structure of outdated non-compliant issuances.
• Marketing Worldwide under a re-negotiated contract now has the capacity to eliminate $100,000 in convertible debt and has verbal approval from the debt holder to proceed.
• Marketing Worldwide Media ‘MWM' (sub.) will host a select group of Accredited Investors with the intentions of selling ‘Cashless Warrants' executable at a ‘fixed sum basis' and paid for by proceeds generated from corporate activities; as opposed to, dilutive debt paid by the parent company Marketing Worldwide Corporation.

Mr. Blagman stated, "I bring more to the table than just a strong resume, network of professionals, and industry savvy. We have access to the licensing and option agreements for a variety of solid global content driven events that can be distributed at a favorable industry price to an international viewing audience. The quicker we do this the faster MWM can bring in positive revenue results. Marketing Worldwide Media can be much more than just a name."

Marketing Worldwide would like to invite our investors, shareholders, clients, and corporate sponsors to view the second episode of a 3-part video-series and a new Podcast interview with our 'TCO' Robert Blagman, which will be released later this week and shared via the corporate Twitter account @MWWCOfficial.

Contact Information

Twitter: @MWWCOfficial
Email: LetsConnect@marketingworldwide.co
Website: www.marketingworldwide.co

Forward Looking Statements:

This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

SOURCE: MARKETING WORLDWIDE CORPORATION ("MWWC")

View source version on accesswire.com:
https://www.accesswire.com/744892/Marketing-Worldwide-Corporation-Cancels-Reverse-Split-and-Seeks-Alternative-Means-to-Capitalize-Operations

FAQ

What recent actions has Marketing Worldwide Corporation (MWWC) taken regarding its stock structure?

Marketing Worldwide Corporation has canceled its reverse stock split and will retire 470 million shares of Restricted Common Stock to enhance its share structure.

How much convertible debt does MWWC plan to eliminate?

MWWC plans to eliminate $100,000 in convertible debt with verbal approval from the debt holder to proceed.

What alternative methods is MWWC considering to capitalize operations?

MWWC is considering non-dilutive methods such as cashless warrants with accredited investors to capitalize operations.

Who is the current TCO of MWWC?

Robert Blagman is the current TCO of Marketing Worldwide Corporation.