Locked and Loaded, WRFX Funds Bullet Barrier™ Products
Astra Veda Corporation (OTC PINK: WRFX) announced a significant investment in a joint venture for manufacturing Bullet BarrierTM Products with Egres Enterprises and Rift Management Inc. (RMI). The new entity, Ballistic Barrier Products Inc. (BBP), will develop and sell ballistic-resistant window and door coverings targeting residential, commercial, and government markets globally. BBP is currently setting up its initial production facility in the Southeastern U.S. Astra continues to address compliance with FINRA and OTC Markets regarding financial filings.
- Joint venture with Egres Enterprises and RMI for Bullet Barrier product line.
- High demand for ballistic-resistant products before launch.
- Strategic location for production facility in Southeast U.S.
- Ongoing compliance issues with FINRA and OTC Markets.
- Legal actions related to previous governance.
SCOTTSDALE, Ariz., May 27, 2021 /PRNewswire/ -- Astra Veda Corporation (OTC PINK: WRFX) Chief Executive Mick Davis announced today that a substantial investment has been made in a joint venture to manufacture Bullet BarrierTM Products. The new entity is called Ballistic Barrier Products Inc. (BBP), and responsible for product development, manufacturing and sales support for ballistic resistant window and door coverings fulfilling the incredible demand for orders.
A facility has been identified in the heart of the textile industry in the Southeastern US with close regional support for materials, equipment, and skilled labor. BBP will be selling to residential and commercial customers as well as schools and government entities both domestically and abroad in the coming months.
Partners in the venture include Astra Veda Corporation, Egres Enterprises and Rift Management Inc. (RMI). Astra is focused on co-founding technology companies and incubate them to success. "We are following through on our long-term strategy of creating products and services for cyber security and life protection industries by investing in Bullet BarrierTM ", stated Davis. "Our team in Finland with its quantum computing resistant encryption and Sayphr™ platform are examples of this leadership directive", Davis continued. Funding, financial oversight and corporate governance are the primary responsibilities of Astra in the partnership.
Egres Enterprises, led by Ron Egres, is a firm specializing in ballistic resistant materials with deep connections to suppliers, test facilities and industry standards groups. "The life protection market has been a focus for me over most of my career. The opportunity to use this experience to develop Bullet BarrierTM products is personally rewarding.", says Egres. Egres Enterprises will be responsible for the roll goods development.
RMI assists businesses in commercializing products and services. Andy Finch from RMI said, "Few companies have such a high demand before their product launches. The need for large-format, cost-effective life protection products is tremendous." RMI will be the managing partner for BBP and will be delivering a certified product to the joint venture.
The BBP team is currently procuring equipment and materials to construct the initial production facility.
On other matters, the Astra Veda compliance team is still working with FINRA and OTC Markets providing information for financial filings. The Company continues to remediate securities defects and engage in legal action holding the previous goverance to a full accounting.
Contact:
services@astra-veda.com
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SOURCE Astra Veda Corporation
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