Southern ITS International, Inc. Files to Remove Shell Status Designation

Rhea-AI Summary

Southern ITS International, Inc. announced that it has officially ceased being classified as a Shell Company due to the growth of its subsidiary, Shibue Couture, Inc.. This change is reflected in its Quarterly Report for the period ended September 30, 2022, which is available on the OTC Markets website, along with a Supplemental Report dated November 10, 2022. The company aims to build a multinational conglomerate by acquiring interests in various sectors, including technology and real estate, while establishing a direct sales network.

Positive

• Southern ITS International is no longer deemed a Shell Company.
• The success of Shibue Couture contributed to this positive change.
• Company's focus on building a diverse portfolio could enhance growth.

Negative

• Company's reliance on a single subsidiary for status change may indicate limited diversification.
• Penny stock classification indicates inherent volatility and risk.

PALM DESERT, CA / ACCESSWIRE / December 9, 2022 / Southern ITS International, Inc. (Pink Open Market:SITS) announced today that, primarily due to the success of its subsidiary, Shibue Couture, Inc., its Quarterly Report - Information Disclosure Statement for the period ended September 30, 2022, discloses that Southern ITS International, Inc. is no longer deemed to be a "Shell Company". The Quarterly Report, as well as a Supplemental Report posted to OTC Markets Group, Inc. on November 10, 2022, both of which are available to the public on the OTC Markets website, reflect this change of status.

About Southern ITS International, Inc.

Southern ITS International, Inc. intends to own and/or control a portfolio of highly- successful businesses and will focus on a being a multi-national conglomerate. As a holding company, Southern ITS International is presently in the market to acquire a stake in various companies both public and private. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products. We will build an experienced management team that will build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International.

Precautionary and Forward-Looking Statement

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of several factors, and other risks identified in the Company's disclosures or filings with the SEC or OTC Markets Group, Inc. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.

Contact:

Southern ITS International, Inc.
Investor Relations
442-300-6522
info@sitsintl.com

SOURCE: Southern ITS International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/730990/Southern-ITS-International-Inc-Files-to-Remove-Shell-Status-Designation

FAQ

What does the removal of shell status mean for Southern ITS International (SITS)?

The removal of shell status indicates that the company has progressed from a dormant entity to one with operational businesses, potentially attracting more investor interest.

What is the significance of Shibue Couture to Southern ITS International (SITS)?

Shibue Couture is a key subsidiary contributing to the company's growth and is instrumental in its transition away from being classified as a shell company.

When was the announcement regarding shell status released by Southern ITS International (SITS)?

The announcement was made on December 9, 2022.

How does Southern ITS plan to grow after removing its shell status?

Southern ITS plans to acquire stakes in various businesses and establish a direct sales network for multiple sectors.

What are the risks associated with investing in Southern ITS International (SITS)?

Investing in Southern ITS is risky due to its penny stock classification and dependency on the performance of its subsidiary.