NRP Stone Settles Liabilities

Rhea-AI Summary

NRP Stone, Inc. (OTC PINK: NRPI) has made significant strides in settling its liabilities, paying off $950,000 in current liabilities and converting a $567,047 long-term note into restricted stock at $0.11. The company’s liabilities have decreased by over $1.6 million since December 2021. NRP Stone is focusing on operations of its acquisition, Uplift Aerospace, which has secured contracts with NASA and Blue Origin, enhancing its position in the space industry. Uplift recently launched a unique NFT collection named Space+ that provides access to exclusive space experiences.

Positive

• Paid off $950,000 in current liabilities.
• Converted a $567,047 long-term note to restricted stock.
• Liabilities reduced by over $1.6M since December 2021.
• Secured contracts with NASA and Blue Origin for Uplift Aerospace.
• Launched a first-of-its-kind NFT collection, Space+, enhancing customer engagement.

Negative

• None.

PARK CITY, UT / ACCESSWIRE / February 23, 2022 / NRP Stone, Inc. (OTC PINK:NRPI) In preparation for becoming a fully reporting company, NRP Stone has focused on settling its liabilities. The Company has paid off $950,000.00 of current liabilities, and the $567,047 long-term note was converted to restricted stock at $.11. In addition, the $84,061 related-party advance was entirely forgiven by the creditor. Since December 1, 2021, NRP Stone liabilities have decreased by over $1.6M. These transactions will be reflected in the Q1 2022 financials subsequent to the upcoming release of the Company's year-end financials.

NRP Stone has strategically resolved to focus exclusively on building the operations of its acquisition, Uplift Aerospace. Over the past year, Uplift has proven its viability by successfully securing contracts with NASA and Blue Origin. The new earth-space economy has been accelerated by NASA allowing Uplift's use of the International Space Station for the first vault in space and by its initial fine art project launched into space on Blue Origin's New Shepard rocket in August 2021. The Company will announce further space missions scheduled for this year.

Uplift recently announced a first-of-its-kind NFT collection that doubles as an exclusive membership to space-related products and experiences. It is called Space+ (pronounced Space plus). Space+ will offer unique NFT tokens that allow purchasers exclusive access to the expanding list of space products and experiences offered by Uplift. Space+ will provide greater access to space through community giveaways and events including sub-orbital space flights, microgravity flights, rocket launch events, and lunar resource missions.

ABOUT UPLIFT AEROSPACE

An emerging leader in the rapidly transforming space industry, Uplift Aerospace is pioneering revolutionary systems to manufacture, trade, and deliver products for a multiplanetary economy.

MEDIA CONTACT: press@upliftaerospace.com

Symbol: NRPI
For the latest updates, visit upliftaerospace.com and follow @upliftaerospace on Facebook, Instagram, and Twitter.

Disclosures and Caution Concerning Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, economic and market factors, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company, its management, or affiliates, undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

SOURCE: NRP Stone, Inc.

View source version on accesswire.com:
https://www.accesswire.com/690004/NRP-Stone-Settles-Liabilities

FAQ

What are the recent financial improvements for NRPI?

NRP Stone has paid off $950,000 in current liabilities and converted a long-term note, decreasing total liabilities by over $1.6 million since December 2021.

What is Uplift Aerospace's significance for NRPI?

Uplift Aerospace, acquired by NRP Stone, secured contracts with NASA and Blue Origin, solidifying its role in the emerging space economy.

What does the Space+ NFT collection offer?

The Space+ NFT collection provides exclusive access to space-related products and experiences, including sub-orbital flights and lunar missions.