Metro One Announces Effectiveness of its Registration Statement and Will Resume Being an SEC Reporting Company

Rhea-AI Summary

Metro One Telecommunications (OTC PINK: WOWI) announced the effectiveness of its Registration Statement filed on Form S-1, allowing the company to resume its public filings with the SEC. This move is aimed at increasing transparency to access capital markets for strategic execution. The company seeks to raise up to $12.6 million through the sale of common stock and warrants, although there is no guarantee on the amount sold. The funds will support operations, particularly the development of products by subsidiary Stratford Ltd..

Positive

• SEC declared the Registration Statement effective, allowing public filings that may enhance transparency.
• Company aims to raise up to $12.6 million to fund business operations and product development.

Negative

• No assurance on the actual amount of stock or warrants that will be sold in the offering.

SHERIDAN, WY / ACCESSWIRE / December 2, 2022 / Metro One Telecommunications, Inc. (OTC PINK:WOWI) ("Metro One" or the "Company") (December 1,2022) announced that the Securities and Exchange Commission ("SEC") declared effective today its Registration Statement filed on Form S-1. As a result, it is the Company's intention to resume filing Form 10-Ks, Form 10-Qs and Form 8-Ks with the SEC. Although there can be no assurance, the Company believes the increased transparency resulting from public filings should facilitate broader access to capital markets to enable the Company to execute on its strategic plans.

Under the Registration Statement, the Company is seeking to raise up to $12,600,000 on a best efforts basis through the sale of common stock and warrants. The Registration Statement also relates to the sale of common stock and warrants by selling stockholders. Proceeds received by the Company from the offering will be used to fund business operations, including the development and sale of the products of the Company's subsidiary Stratford Ltd., and for working capital and general corporate purposes. There can be no assurance as to the amount of common stock or warrants that will be sold in the offering.

This press release does not constitute an offer of any securities for sale. Any offer of any securities covered by the Registration Statement will only be made pursuant to the Prospectus contained in the Registration Statement.

About Metro One Telecommunications, Inc. (OTC Markets:WOWI)

Metro One is the parent company of Israel-based Stratford Ltd., which operates Shelfy (www.shelfy.io), a next-gen, instant mobile commerce platform enhanced with a proprietary digital advertising media suite tool. The platform enables online retailers to rapidly leverage existing customer data for an interactive shopping experience - without coding. Shelfy empowers businesses to grow their customer retention, engagement, and their revenues, with minimum hassle.

Contact information:

Jacqueline Danforth
30 North Gould Street
Suite 2990
Sheridan, WY 82801
Office: 403-693-8004
Cell: 646-831-6244
Email: info@metro1telecomm.com

SOURCE: Metro One Telecommunications, Inc.

View source version on accesswire.com:
https://www.accesswire.com/729718/Metro-One-Announces-Effectiveness-of-its-Registration-Statement-and-Will-Resume-Being-an-SEC-Reporting-Company

FAQ

What did Metro One Telecommunications announce on December 1, 2022?

Metro One announced the effectiveness of its Registration Statement on Form S-1, allowing it to resume SEC filings.

How much is Metro One aiming to raise through its Registration Statement?

The company aims to raise up to $12.6 million through the sale of common stock and warrants.

What will the proceeds from the offering be used for?

Proceeds will be used for business operations, product development, and general corporate purposes.

Is there any guarantee on the amount Metro One will raise?

No, there is no assurance on the amount of common stock or warrants that will be sold in the offering.

What is the significance of Metro One resuming SEC filings?

Resuming SEC filings is expected to increase transparency and facilitate broader access to capital markets.