SecureTech Completes Phase 1 of Share Reduction Program
SecureTech Innovations (OTC: SCTH) has successfully completed Phase 1 of its 2025 Share Reduction Program, achieving a 55% reduction in total shares by canceling 43,100,000 shares of common stock. The company now has 35,309,329 issued and outstanding shares.
Phase 2 is expected to complete by Q3 2025, with commitments from shareholders to cancel an additional 18,100,000 shares upon reaching specific milestones. The share reduction program is part of SecureTech's recapitalization strategy, aimed at securing new investment capital and pursuing strategic acquisitions. The company plans to uplist to NASDAQ or NYSE later in 2025.
SecureTech Innovations (OTC: SCTH) ha completato con successo la Fase 1 del suo Programma di Riduzione delle Azioni 2025, raggiungendo una riduzione del 55% nel numero totale di azioni, cancellando 43.100.000 azioni ordinarie. Attualmente, la società ha 35.309.329 azioni emesse e in circolazione.
La Fase 2 dovrebbe concludersi entro il terzo trimestre del 2025, con impegni da parte degli azionisti per cancellare ulteriori 18.100.000 azioni al raggiungimento di specifici traguardi. Il programma di riduzione delle azioni fa parte della strategia di ricapitalizzazione di SecureTech, mirata ad assicurare nuovi capitali di investimento e perseguire acquisizioni strategiche. La società prevede di passare al NASDAQ o NYSE entro la fine del 2025.
SecureTech Innovations (OTC: SCTH) ha completado con éxito la Fase 1 de su Programa de Reducción de Acciones 2025, logrando una reducción del 55% en el total de acciones al cancelar 43.100.000 acciones ordinarias. La empresa ahora tiene 35.309.329 acciones emitidas y en circulación.
Se espera que la Fase 2 se complete para el tercer trimestre de 2025, con compromisos de los accionistas para cancelar 18.100.000 acciones adicionales al alcanzar hitos específicos. El programa de reducción de acciones es parte de la estrategia de recapitalización de SecureTech, destinada a asegurar nuevo capital de inversión y a perseguir adquisiciones estratégicas. La empresa planea listar sus acciones en NASDAQ o NYSE a finales de 2025.
SecureTech Innovations (OTC: SCTH)는 2025년 주식 감축 프로그램의 1단계를 성공적으로 완료하고, 43,100,000주를 취소하여 총 주식 수를 55% 감소시켰습니다. 현재 회사는 35,309,329주가 발행되어 유통되고 있습니다.
2단계는 2025년 3분기까지 완료될 것으로 예상되며, 주주들은 특정 이정표에 도달하면 추가로 18,100,000주를 취소하겠다는 약속을 했습니다. 주식 감축 프로그램은 SecureTech의 자본 재편성 전략의 일환으로, 새로운 투자 자본을 확보하고 전략적 인수를 추진하는 것을 목표로 합니다. 회사는 2025년 후반에 NASDAQ 또는 NYSE로 상장할 계획입니다.
SecureTech Innovations (OTC: SCTH) a réussi à compléter la Phase 1 de son Programme de Réduction des Actions 2025, atteignant une réduction de 55% du nombre total d'actions en annulant 43.100.000 actions ordinaires. L'entreprise possède désormais 35.309.329 actions émises et en circulation.
La Phase 2 devrait être achevée d'ici le troisième trimestre 2025, avec des engagements de la part des actionnaires d'annuler 18.100.000 actions supplémentaires à l'atteinte de jalons spécifiques. Le programme de réduction des actions fait partie de la stratégie de recapitalisation de SecureTech, visant à sécuriser de nouveaux capitaux d'investissement et à poursuivre des acquisitions stratégiques. L'entreprise prévoit de s'introduire en bourse sur le NASDAQ ou le NYSE plus tard en 2025.
SecureTech Innovations (OTC: SCTH) hat erfolgreich Phase 1 seines Aktienreduktionsprogramms 2025 abgeschlossen und eine Reduzierung um 55% der Gesamtanzahl der Aktien erreicht, indem 43.100.000 Stammaktien storniert wurden. Das Unternehmen hat jetzt 35.309.329 ausgegebene und ausstehende Aktien.
Phase 2 wird voraussichtlich im dritten Quartal 2025 abgeschlossen sein, wobei sich die Aktionäre verpflichtet haben, weitere 18.100.000 Aktien bei Erreichen bestimmter Meilensteine zu stornieren. Das Aktienreduktionsprogramm ist Teil der Rekapitalisierungsstrategie von SecureTech, die darauf abzielt, neues Investitionskapital zu sichern und strategische Akquisitionen zu verfolgen. Das Unternehmen plant, später im Jahr 2025 an die NASDAQ oder NYSE zu listen.
- 55% reduction in outstanding shares (43.1M shares canceled)
- Secured commitments for additional 18.1M share cancellation in Phase 2
- Planned uplisting to NASDAQ/NYSE in 2025
- Strategic positioning for new investment capital acquisition
- Share reduction completion dependent on achieving undisclosed milestones
- Uplisting plans subject to meeting exchange requirements
Phase 1 Achieves
Roseville, Minnesota, Feb. 19, 2025 (GLOBE NEWSWIRE) -- SecureTech Innovations, Inc. (OTC: SCTH), a pioneering force in blockchain, Web3, and cybersecurity technologies and platforms, is pleased to announce the successful completion of Phase 1 of its 2025 Share Reduction Program.
During Phase 1, SecureTech canceled 43,100,000 shares of its common stock, resulting in a
Phase 2 of the 2025 Share Reduction Program is expected to be completed by Q3 2025. Currently, SecureTech has received commitments from several shareholders to cancel an additional 18,100,000 shares of its common stock upon achieving certain milestones outlined in the 2025 Roadmap. SecureTech will provide further updates through official press releases and SEC filings as these milestones are reached.
J. Scott Sitra, President and CEO of SecureTech, stated, “This marks a significant step forward in our 2025 Roadmap for Innovation and Growth. With this substantial share reduction, SecureTech is better positioned to pursue our recapitalization plans, which include securing new major sources of investment capital and rapidly growing the company through targeted strategic acquisitions.”
Mr. Sitra added, “For our dedicated shareholders, completing these next few steps will bring us much closer to our longer-term objective of uplisting to the NASDAQ or NYSE stock exchange later this year. This milestone will facilitate broader acceptance and trading of SCTH shares among most U.S. stockbrokers.”
About SecureTech Innovations
SecureTech Innovations, Inc. is a pioneering innovator in blockchain, Web3, and cybersecurity technologies. Through its Piranha Blockchain subsidiary, it is developing cutting-edge technologies and platforms to securely store and transfer digital assets and enhance online privacy and protections. Additionally, SecureTech is known for its groundbreaking safety device, Top Kontrol®, an advanced anti-theft and anti-carjacking system designed to preserve life and protect property. For more information, visit securetechinnovations.com, piranhablockchain.com, and topkontrol.com.
This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements refer to future events, expectations, plans, and prospects. SecureTech Innovations, Inc. (“SecureTech”) believes the expectations reflected in these forward-looking statements are reasonable as of the date they are made. However, actual results may differ materially from those expressed or implied by these forward-looking statements. SecureTech identifies forward-looking statements with words like 'believes,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'projects,' 'intends,' 'potential,' 'may,' 'could,' 'might,' 'will,' 'should,' 'approximately,' and similar expressions that convey uncertainty about future events or outcomes. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including market conditions and other circumstances. More detailed information about SecureTech and the risks that may affect these forward-looking statements can be found in SecureTech’s filings with the Securities and Exchange Commission (“SEC”), including the risks contained in the section of our Annual Report filed on Form 10-K entitled “Risk Factors.” These filings are available on the SEC’s website at www.sec.gov.
Forward-looking statements in this press release speak only as of the date they are made. SecureTech has no obligation to update any forward-looking statements to reflect new events or circumstances after the date of this press release, except as required by law.
Investor Relations
+1 (651) 317-8990
ir@securetechinnovations.com
FAQ
How many shares did SecureTech (SCTH) cancel in Phase 1 of its reduction program?
What is the current number of outstanding shares for SCTH after Phase 1?
When is Phase 2 of SCTH's share reduction program expected to complete?
How many additional shares will be canceled in Phase 2 of SCTH's reduction program?
When does SCTH plan to uplist to NASDAQ or NYSE?
