Weconnect Tech International Inc. Announces Changes in Management, Purpose and Control
WECONNECT TECH INTERNATIONAL INC. (OTC PINK:WECT) has completed a significant transaction involving the sale of 436,482,690 shares of common stock and 10 million shares of Series A Preferred stock to Vance Harrison, who now possesses a controlling voting interest. Following this, a new Board of Directors was elected and the company has officially changed its name to MOTOS AMERICA INC.. The shareholders also approved a 1-for-300 reverse stock split and shifted the business focus towards owning and operating motorsport dealerships in the U.S.
- Vance Harrison's extensive experience in the automotive and motorsports industry, including being a top dealer for major motorcycle brands.
- New business focus on motorsport dealerships potentially opens new revenue streams.
- Reverse stock split may lead to reduced share liquidity and concerns among existing shareholders.
- Change in business model represents a significant shift and uncertainty for previous shareholders.
SALT LAKE CITY, UT / ACCESSWIRE / December 8, 2021 / WECONNECT TECH INTERNATIONAL INC. (OTC PINK:WECT) announces the completion of the sale of 436,482,690 shares of its common stock formerly owned by Shiong Han Wee and others, along with 10,000,000 shares of its Series A Preferred stock, to Vance Harrison, of Salt Lake City, Utah.
As result of this transaction, Mr. Harrison now holds a controlling voting interest in the company.
Subsequent to this transaction, the Company held a special meeting of the Shareholders where a new Board of Directors was elected. The shareholders and the new Board of Directors also authorized Amended and Restated of Incorporation to be filed with the Secretary of State of Nevada. Pursuant to the these new Articles, the name of the company was changed to MOTOS AMERICA INC.
At this same meeting, the shareholders authorized a one share for three hundred share reverse split of both its common and preferred shares (1:300). The shareholders also authorized a change in business purpose of the company from its former focus of processing financial transactions to the ownership and operation of motorsport dealerships in the U.S.
The Company is currently in the process of obtaining a new CUSIP Number and trading symbol from FINRA that will reflect its name change and reverse stock split.
Subsequent to the election of the new Board of Directors, those Directors appointed Vance Harrison as the President and CEO of the Company. Mr. Harrison is the founder of Harrison Eurosports, Salt Lake CIty, Utah. He is a motorsports enthusiast with 25 years of experience operating successful automotive and motorsports dealerships. Mr. Harrison has been rated a top 5 dealer in annual sales nationwide for BMW, Ducati, and Triumph motorcycles for the last 12 years. As CEO of three other successful businesses with millions in net profits per annum and decades of experience, Mr. Harrison has shown the ability to consistently increase revenues and profits through the creation of repeatable business systems and models.
The new address of the Company is:
MotosAmerica Inc.
510 South 200 West #110
Salt Lake City, Utah 84101
www.motosamerica.com
For questions or more information contact:
Cal Jones
Investor Relations Manager
801-403-8609
Email: Cal@motosamerica.com
SOURCE: MotosAmerica Inc.
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FAQ
What significant transaction did WECT complete recently?
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What is the new business focus of MOTOS AMERICA INC.?
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