Simulated Environment Concepts, Inc. Announces 180 Million Common Share Reduction Completed & Shareholder Update

Rhea-AI Summary

Simulated Environment Concepts (OTC-PINK:SMEV) announced a successful cancellation of 180 million shares, reducing outstanding shares by over 24%. This marks the completion of its cleanup efforts following new management's takeover earlier in 2021. The authorized share count has also been significantly reduced from 9 billion to 1.8 billion. Following an acquisition of Nitro Holdings, the company anticipates substantial contributions to its balance sheet in 2022. Management expresses optimism for future growth and increased market cap after upcoming acquisitions.

Positive

• Successful cancellation of 180 million shares, reducing outstanding shares by over 24%.
• Significant reduction in authorized share count from 9 billion to 1.8 billion (80% decrease).
• Acquisition of Nitro Holdings expected to enhance the company's balance sheet.

Negative

• None.

NASHVILLE, TN, Dec. 20, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Simulated Environment Concepts, Inc. (OTC-PINK:SMEV) is proud to announce that it has successfully canceled 180 million common shares equating to over 24% reduction of the outstanding shares. The OTC Markets have already been updated to reflect the changes. “The reduction of old management shares was the final piece of clean up since taking over SMEV earlier this year. We now feel that we have successfully completed our clean up and can now proceed with completing our many acquisitions and building shareholder value in 2022 and beyond,” states President/CEO Marvin Baker.

2021 was a pivotal year for Simulated Environment Concepts, Inc. In July, shortly after Mr. Baker took over the public company, He reduced the Authorized share count from 9 billion to 1.8 billion equating to 80% reduction of the total AS. In Sept he followed through with the First Acquisition of Nitro Holdings LLC, which has acquired a 90-acre Fish Farm in Eastern NC. “We’re looking forward to our first full year under the SMEV umbrella, and expect to contribute in a major way to SMEV’s Balance sheet going forward. The introductions that Mr. Baker has made for us will create many opportunities for joint ventures & clients going forward,” states President of Nitro Holdings LLC Bryan Wilkinson.

In October 2021 we added Carey Cooley to the Board of Directors. Carey’s first order was the share reduction which he helped fast track and get successfully completed. Now he will focus on helping facilitate and structure the incoming acquisitions and joint ventures. “I would like to thank Mr. Baker for giving me the opportunity to join the SMEV Team. I’m excited about my role going forward with helping successfully put this group of incoming companies together in a way that creates synergy between all related entities thus adding to shareholder value.”

We would like to take this time and wish shareholders and their families a happy holidays and a happy new year. We apologize if things seemed to take a while to complete as there are several steps to complete when taking over a preexisting shell. We expect that when we complete our Acquisitions the market cap will increase substantially and we expect the stock to follow.

Forward-Looking Statements:

This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's respective filings at www.otcmarkets.com.

Contact Information: 

SMEV Shareholder/Investor inquiries can be directed to: 
Marvin Baker 
CEO 
Email: Marvin@smevmerger.com 
URL: www.smevmerger.com 
Twitter: www.twitter.com/SMEVMerger

Nitro Holdings 
https://twitter.com/NitroHoldingshttps 
https://nitro.holdings

FAQ

What recent share reduction did Simulated Environment Concepts (SMEV) announce?

Simulated Environment Concepts (SMEV) announced a 24% reduction in outstanding shares by canceling 180 million shares.

How much was the authorized share count reduced for SMEV?

The authorized share count for Simulated Environment Concepts (SMEV) was reduced from 9 billion to 1.8 billion, an 80% decrease.

What is the impact of Nitro Holdings acquisition on SMEV?

The acquisition of Nitro Holdings is expected to contribute significantly to Simulated Environment Concepts' (SMEV) balance sheet in the upcoming year.

When did the new management take over at Simulated Environment Concepts (SMEV)?

The new management took over Simulated Environment Concepts (SMEV) in July 2021.