Protect Pharmaceutical Corp. (PRTT) Finalizes the Merger with KARINCA Logistics
Protect Pharmaceutical Corp. (OTC: PRTT) has finalized its merger with KARINCA Logistics, a move expected to significantly enhance the company's operations. The merger brings valuable assets including a large network, important routes, and expanded sales opportunities across Europe and Asia. To complete the deal, PRTT issued 1,000,000 additional Preferred Shares with 100:1 voting rights, avoiding common share dilution.
CEO Ozgur Ozcan emphasized that the company's priority is now to complete the PCAOB audit, file a FORM 10 registration statement, and resume SEC reporting in preparation for an exchange uplisting. The merger is anticipated to generate new revenue streams and profitability for PRTT in the current calendar year.
Protect Pharmaceutical Corp. (OTC: PRTT) ha completato la sua fusione con KARINCA Logistics, un passo che si prevede migliorerà significativamente le operazioni dell'azienda. La fusione porta con sé risorse preziose, tra cui una vasta rete, rotte importanti e opportunità di vendita ampliate in Europa e Asia. Per finalizzare l'accordo, PRTT ha emesso 1.000.000 azioni privilegiate aggiuntive con diritti di voto 100:1, evitando la diluizione delle azioni ordinarie.
Il CEO Ozgur Ozcan ha sottolineato che la priorità dell'azienda è ora completare la revisione PCAOB, presentare una dichiarazione di registrazione FORM 10 e riprendere la rendicontazione SEC in preparazione per un'integrazione in borsa. Si prevede che la fusione genererà nuove fonti di entrate e redditività per PRTT nell'anno in corso.
Protect Pharmaceutical Corp. (OTC: PRTT) ha finalizado su fusión con KARINCA Logistics, un movimiento que se espera mejore significativamente las operaciones de la compañía. La fusión trae activos valiosos que incluyen una gran red, rutas importantes y oportunidades de ventas ampliadas en Europa y Asia. Para completar el acuerdo, PRTT emitió 1.000.000 de acciones preferentes adicionales con derechos de voto de 100:1, evitando la dilución de acciones comunes.
El CEO Ozgur Ozcan enfatizó que la prioridad de la compañía ahora es completar la auditoría PCAOB, presentar una declaración de registro FORM 10 y reanudar la reportación ante la SEC en preparación para una cotización en la bolsa. Se anticipa que la fusión generará nuevas fuentes de ingresos y rentabilidad para PRTT en el año calendario actual.
Protect Pharmaceutical Corp. (OTC: PRTT)는 KARINCA Logistics와의 합병을 완료했습니다, 이 조치는 회사의 운영을 크게 향상시킬 것으로 예상됩니다. 합병은 유럽과 아시아 전역에서 중요한 경로와 확장된 판매 기회를 포함한 방대한 네트워크와 귀중한 자산을 가져옵니다. 거래를 완료하기 위해 PRTT는 1,000,000개의 추가 우선주를 발행하였으며, 이는 100:1의 의결권을 보유하여 보통주 희석을 피했습니다.
CEO Ozgur Ozcan은 회사의 최우선 과제가 이제 PCAOB 감사 완료, FORM 10 등록 진술서 제출 및 SEC 보고서 재개를 통해 증권 거래소 상장 준비라고 강조했습니다. 합병은 현재 회계 연도에 PRTT에 새로운 수익원 및 수익성을 창출할 것으로 예상됩니다.
Protect Pharmaceutical Corp. (OTC: PRTT) a finalisé sa fusion avec KARINCA Logistics, un mouvement qui devrait améliorer de manière significative les opérations de l'entreprise. La fusion apporte des actifs précieux, y compris un vaste réseau, des itinéraires importants et des opportunités de vente élargies à travers l'Europe et l'Asie. Pour finaliser l'accord, PRTT a émis 1.000.000 d'actions privilégiées supplémentaires avec des droits de vote de 100:1, évitant ainsi la dilution des actions ordinaires.
Le PDG Ozgur Ozcan a souligné que la priorité de l'entreprise est désormais de terminer l'audit PCAOB, de soumettre une déclaration d'enregistrement FORM 10, et de reprendre la déclaration auprès de la SEC en préparation d'une cotation en bourse. La fusion devrait générer de nouvelles sources de revenus et rentabilité pour PRTT au cours de l'année calendaire actuelle.
Protect Pharmaceutical Corp. (OTC: PRTT) hat die Fusion mit KARINCA Logistics abgeschlossen, ein Schritt, der voraussichtlich die Betriebsabläufe des Unternehmens erheblich verbessern wird. Die Fusion bringt wertvolle Vermögenswerte mit sich, darunter ein großes Netzwerk, wichtige Routen und erweiterte Vertriebsmöglichkeiten in Europa und Asien. Um den Deal abzuschließen, gab PRTT 1.000.000 zusätzliche Vorzugsaktien mit einem Stimmrecht von 100:1 aus, um eine Verwässerung der Stammaktien zu vermeiden.
CEO Ozgur Ozcan betonte, dass die Priorität des Unternehmens nun darin besteht, die PCAOB-Prüfung abzuschließen, eine FORM 10-Registrierungsanmeldung einzureichen und die SEC-Berichterstattung wieder aufzunehmen, um sich auf eine Börsennotierung vorzubereiten. Es wird erwartet, dass die Fusion neue Einnahmequellen und Rentabilität für PRTT im laufenden Kalenderjahr generiert.
- Merger with KARINCA Logistics expands operations and sales opportunities in Europe and Asia
- No common share dilution occurred during the merger process
- Company plans to uplist to a major exchange after completing PCAOB audit and SEC reporting
- Merger expected to bring new revenue streams and profitability in the current calendar year
- Issuance of 1,000,000 additional Preferred Shares with 100:1 voting rights may concentrate control
ANKARA, Turkey, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Protect Pharmaceutical Corp. (OTC: PRTT) ($PRTT) (“Company”) announces it completed the necessary documentation to finalize the merger with KARINCA Logistics - www.karincalogistics.com.
PRTT’s Management believes that the KARINCA Logistics merger should add substantial value to the Company’s overall operations, and it brings a talent pool of professionals, dedicated to the successful integration of the combined business operations. KARINCA Logistics brings a large network of operations, many very valuable routes, and opens sales opportunities throughout Europe and Asia.
To complete the merger, the Company issued 1,000,000 additional Preferred Shares, which have 100 to 1 common share voting rights but are not convertible to common shares. There was no common share dilution to complete the merger.
Ozgur Ozcan, PRTT's CEO, stated, “with the merger complete we are focused on finalizing the PCAOB audit. The audit will allow the Company to file a FORM 10 registration statement to resume reporting with the SEC in preparation to uplist to an exchange. This process is our priority as a company.”
The merger of Atlantic Logistics and KARINCA Logistics expects to bring in new revenue streams and profitability to the Company during the remainder of this calendar year
About Atlantic Logistics:
Atlantic Logistics strives to provide innovation in service, a business model that gives customers and partners the technology and commercial intelligence to support creative ideas. The team remains dedicated to keeping the company’s systems on the cutting edge and constantly evolving business to serve our clients better. Atlantic Logistics use robust technology to track inventories, manage customs compliance, and track shipments worldwide. Atlantic Logistics is the answer to any logistics needs you might have. Atlantic Logistics transports products via land, air, and sea using trucks, ships, rail, and air, rapidly growing into a worldwide logistics company with services across Europe, Asia, South America, and Central America - www.atlantic-logistics.net.
About KARINCA Logistics:
KARINCA Logistics is one of Turkey’s leading companies that provides international transportation, domestic logistics, customs clearance, energy and project logistics services. Management continues to seek the latest solutions, technologies and innovations in the logistics sector. With its international logistic and transportation service, land, sea and air, KARINCA remains committed to customer satisfaction at its highest level - www.karincalogistics.com.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "expect", "believe", "anticipate", "intend", "could", "would", "estimate," or "continue", or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For more information contact:
Protect Pharmaceutical Corp.
Ozgur Ozcan +90 (554) 112 40 25
Info@atlantic-logistics.net
www.atlantic-logistics.net
FAQ
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