Webstar Technology Group Inc. (WBSR) Announces New Plan Of Operation; Contained In Company's Form 10-K Filed On March 29, 2022

Rhea-AI Summary

Webstar Technology Group Inc. (OTCQB:WBSR) has unveiled a new operational plan to expedite revenue generation with minimal investment. The company is exploring three main options: licensing its technology, selling it via permanent licensing, and strategic acquisitions or investments in advanced technology. These strategies aim to partner with globally recognized entities, ensuring rapid deployment of its innovative technology. CEO Don Roberts emphasized that this shift could enhance shareholder value and expedite returns without extensive capital expenditure.

Positive

• New operational plan focuses on faster revenue generation.
• Exploring partnerships with globally recognized entities.
• Potential for immediate revenues through licensing and sales.

Negative

• None.

Company Lays Out 3 Main Options: Licensing Its Technology, Sale Of Its Technology, Strategic Acquisitions Or Investments In Leading Edge Technology &/Or Acquisition Of The Company By A Third Party Via A Change Of Control

All 3 Options Would Generate Up-Front And Residual Revenues For The Company; Targeted Partners Would Be Experienced, Globally Well-Known Entities With Everything Already In Place For A Quick Launch/Utilization Of The Company's Technology

JACKSONVILLE, FL / ACCESSWIRE / May 16, 2022 / Webstar Technology Group Inc. (OTCQB:WBSR) a software marketing and technology company that identifies, incubates and acquires exclusive rights to promising proprietary technology products and services and provides its shareholders access to participate in cutting edge technology opportunities focused on the internet and global data delivery capabilities, announced in the Form10-Kⁱ filed on March 28, 2022, that the company has chosen a new Plan of Operation.

The change in focus is meant to utilize a faster path to revenues with a minimum of time and expenses. The Form 10-K said:

"Plan of Operation

Management has decided that the fastest way to get the Company's technologies to market is to not bear the burden ourselves. Numerous third parties already have the requisite infrastructure in place and there is no need for the Company to re-build those elements. Additionally, the third parties we seek to align ourselves with, are better positioned to handle the retail, business and governmental marketing sectors worldwide. They will be experienced, globally well-known entities with everything already in place for a quick launch/utilization of the Company's technology.(emphasis added)

There are three main paths that the Company is pursuing: 1) Licensing the technology to third parties; 2) Selling the technology via Permanent License to a third-party; 3) strategic acquisitions or investments in leading edge technology; and 4) Acquisition of the Company by a third party via a change of control of the Company; all of which would generate up-front and residual revenues for the Company."

Don Roberts, the CEO of the Company said: "Initially we had planned to bring the technologies we have acquired from Soft Tech Development Corporation directly to retail ourselves, but based upon our experiences over the past year, we believe that our new path will generate a quicker return without the need for significant capital investment… all to the benefit of our bottom line and for our shareholders holdings value. We believe that the acquisition of the Company by a large, well known technology company would benefit shareholders and are focusing on this pathway while also looking for licensing deals and strategic acquisitions or investments in leading edge technology that can bring immediate revenues to the Company,"

ⁱhttps://www.otcmarkets.com/filing/html?id=15688974&guid=SX6wkKt5C5OVQth

About Webstar Technology Group, Inc.

Webstar Technology is pioneering a new era of innovation that will unleash the power of the internet and global data delivery capabilities that have never before been realized. Our Warp-G Enterprise Software and Gigabyte Slayer mobile application are designed to increase data stream delivery well beyond existing 4G and projected 5G. Combined with our "Smart-Caching" encryption technology and advanced storage optimization capabilities, Webstar will provide disruptive global data delivery, storage, and protection capabilities for every business, every customer. Webstar Technology Group-"Transforming the Connected World through innovative technologies that help businesses thrive and enrich people's lives!"

For more information on Webstar Technology Group Inc. please go to our website: https://webstartechnologygroup.com

Forward Looking Statements Disclaimer: This release may contain statements that constitute 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. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Webstar Technology Group Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward -looking statements include the words "vision," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Webstar Technology Group Inc.'s filings with the OTC Markets, Securities and Exchange Commission and/or posted on the company's website.

Contact:

Webstar Technology Group, Inc.
Harold Hutchins, CFO
904-312-9681
info@webstartechnologygroup.com

SOURCE: Webstar Technology Group, Inc.

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FAQ

What is the new operational plan of Webstar Technology Group (WBSR)?

Webstar Technology Group's new operational plan focuses on generating revenues quickly through technology licensing, sales, and strategic acquisitions.

How will Webstar Technology Group (WBSR) generate revenue?

The company aims to generate revenue by licensing its technology to third parties, selling it via permanent licenses, and pursuing strategic acquisitions.

Who are the targeted partners for Webstar Technology Group (WBSR)?

Targeted partners include experienced and globally recognized entities equipped for quick technology deployment.

What did CEO Don Roberts say about the new plan for Webstar Technology Group (WBSR)?

CEO Don Roberts stated that the new plan will generate quicker returns and benefit shareholder value without the need for significant capital investment.