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Press Release: GNCC Capital, Inc. Confirms That It Is In Very Material And Final Discussions
8:00 am ET July 20, 2021 (Dow Jones) Print
GNCC Capital, Inc. Confirms That It Is In Very Material And Final Discussions
COMPANY HAS ELECTED TO FINALLY BRING A CONCLUSION TO LONG OVERDUE CORPORATE ACTIONS AND TO MAXIMIZE STOCKHOLDER VALUE
PR Newswire
LAS VEGAS, July 20, 2021
LAS VEGAS, July 20, 2021 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCP") can now confirm that your Directors decided late yesterday to finally agree to formally enter into very material discussions. Your Directors have finally reached a point whereby they want a satisfactory and "stress free" closure of transactions for this Company and in a manner that best serves our shareholders' interests.
At this point, we can provide a few details; and as follows:-
1. We have been formally approached by a highly credible Corporate Finance Company to raise (and possible advance) the funding that the Company requires in order to (a) exercise over the Lithium Exploration Properties and (b) provide additional funding to allow our Company to acquire a solid, well established profitable Company that generates revenues and cash flow.
Your Directors, together with outside Counsel will now be evaluating this proposal, the timing and the process as it requires SEC approval.
2. Your Directors are extremely unhappy over what we consider to be unacceptable and unwarranted movements over the past few days. That being said, a long planned possible scenario for our Company was reactivated late yesterday. This will not result in a full bid for our Company but if brought to fruition it could resolve most of the primary issues that your Directors are facing in the execution of our stated planning. Effectively if it is concluded, it brings a powerful "Partner" on board whose involvement could very well satisfy certain large shareholders holding our various Classes of Convertible Preferred Stock; including the secured Classes. At this point, these shareholders are not "on board" with any of our stated objectives. This absolutely is a hurdle that is real and has to be overcome if we are to close up any transactions.
We can confirm that the two transactions as above-mentioned would be able to be structured to work together; so it not a question of us having to choose one transaction.
To summarize, your Directors wish to bring a nearly six month "saga" to a satisfactory conclusion and truthfully, as fast as is reasonably possible. Needless to say, your Directors will ensure that any transactions(s) agreed upon will be in the best interests of all shareholders.
Your Directors are becoming increasingly frustrated by (a) reluctant Preferred Stockholders (b) unrealistic expectations from a number of shareholders (c) endless amounts of Management time and energy in our communicating with shareholders (d) a number of shareholders with extremely unrealistic time horizons. All of this being coupled with our being literally forced to provide constant public updates and with no satisfactory resolutions in the immediate term. Your Directors and shareholders want final resolutions and no longer, these long drawn out negotiations with no tangible results. In short, your Directors are determined to bring the Company's status and conclude transactions to a satisfactory level; and now, as fast as is possible. Your Directors have after very considerable thought; finally decided to bring and an end to what we now refer to a "long drawn out saga" which we have tired of; as have our shareholders.
Given your Directors desire to bring a final, consummated and satisfactory resolution to our shareholders, we are going run these negotiations for what we believe will be for a period of no more than two weeks. During that time, we will not be updating shareholders unless a transaction is consummated. At this point, our planned immediate Chairman's Letter would be pointless given our final decisions yesterday and as set out in this Press Release. The Q3 Report to June 30, 2021 will be filed very shortly but without the Chairman's Letter; our rationale for a few day delay is in order to include all Preferred Stock Conversions and Stock Issuances this week; into both this Report and the required OTC Markets Disclosure Statements. As shareholders are acutely aware, it is imperative that the Company file its Financial Reports timeously and due to the revised SEC Rule 15c-211 requirements.
We understand that certain shareholders are being misled into believing that this Company will be conducting a Reverse Split of its Common Stock. Again, we wish to categorically state that this is never going to happen. Your Directors are firmly of the opinion that a Reverse Split of a microcap Company's shares is prejudicial to all stockholder interests and is effectively, in our opinion, a destruction of wealth.
Finally, we are in a position to confirm that our largest shareholder, Premier Development & Investment, Inc. (PDIV.PK) has elected to convert some $2.5 million of Convertible Preferred Stock into shares of restricted GNCC Common Stock. As Premier is a GNCC Insider, it is not able nor willing to dispose of any of its shareholdings in GNCC. Premier views its holdings in GNCC as a passive and a very attractive investment. The current GNCC stock price was considered as an attractive entry point for Premier to further increase its shareholding in GNCC and through the conversions of its holdings in our Company's Convertible Preferred Stock.
Furthermore, we wish to place of record that with your Directors being the Directors of Premier, we are having to allocate far more of our time to Premier's business interests. Given Premier's substantial cash on hand and its highly material daily Futures trading operations; this now requires that your Directors to resolve the GNCC Capital, Inc. negotiations as soon is now possible.
Your Directors would strongly recommend that our shareholders exercise extreme caution in their dealings in our shares whilst we are negotiating these proposed transactions. Shareholders are encouraged to only follow direct statements issued by ourselves and to not be misled by random Internet postings by those whom have zero knowledge of our negotiations.
The Company will be filing on OTC Markets today, certain Regulatory obligatory filings in order to ensure that our shareholders are in possession of all the facts and in a very timely fashion.
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ALYI Confirms Order For 2000 Electric Motorcycles
11:01 am ET July 16, 2021 (Globe Newswire) Print
Alternet Systems, Inc. (OTC Pink: ALYI) ("ALYI") today confirmed an order for 2,000 electric motorcycles. The order supports the planned rollout of a comprehensive Electric Vehicle (EV) Rideshare and rental solution in Africa beginning with electric motorcycles. ALYI has recently launched a comprehensive pilot bringing together a host of partners in Kenya to support a soup to nuts eco-friendly electric motorcycle alternative to Africa's robust motorcycle taxi market currently dominated by combustion engine bikes.
Facedrive, a Canadian company also pursuing the EV Rideshare market, is featured in a recent article titledThe Future Of Transportation: EV Stocks Could Fly This Summer. The article highlights the EV Rideshare market opportunity amidst the EV manufacturers race featuring names like Tesla and Nio as well as EV component players like Blink.
ALYI management is happy to see competitors like Facedrive entering the EV Rideshare sector. ALYI management believes there is plenty of room in the sector and competition is a confirmation on the value and overall potential of the sector.
ALYI is building a comprehensive EV ecosystem solution designed to advance the entire EV sector with perpetual contribution to EV technology advanced by the ongoing participation of EV industry leaders.
ALYI is targeting the participation of brand name EV industry leaders in an annual EV symposium and conferenced anchored by an EV race event in Kenya. The objective of the EV symposium and conference is to advance EV technology by building EV solutions for the African market - a power constrained, rugged environment with one of the lowest per capita transportation deployments in the world. EV solutions for the African market will be applicable the world around. EV solutions designed and built in Africa also contribute to building an autonomous African economy.
ALYI has seeded its EV ecosystem solution with the development of its own EV motorcycle business. ALYI has recently initiated an Electric Motorcycle pilot program in Kenya which is already generating results expected to set ALYI's EV business apart from the competition.
ALYI has published an overview of the pilot program highlighting the pilot objectives. As the pilot ramps up this month, ALYI management plans to begin sharing featured moments of the pilot program in progress to include pictures and videos. The pilot is expected to go on for approximately ninety days.
The pilot is being conducted in conjunction with a 2,000 electric motorcycle order, the fulfillment of which is being finalized with results from the pilot.
ALYI has designed its EV ecosystem solution to include democratized participation. ALYI has partnered with ReovltTOKEN to finance ALYI's growth by offering participation in the EV ecosystem through the sale of Revolt Tokens.
To learn more about RevoltTOKEN and how to participate in ALYI's electric vehicle ecosystem through the purchase of Revolt Tokens, visit www.revolttoken.com.
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SFLMaven Announces $11 Million Preliminary 2021 Revenue Guidance
9:15 am ET July 15, 2021 (Accesswire) Print
Company Expects Revenues to Grow Nearly 40% YoY to at Least $11.0 Million
FORT LAUDERDALE, FL / ACCESSWIRE / July 15, 2021 / SFLMaven Corp. (OTC PINK:SFLM), ('SFLMaven' or the 'Company'), a leading provider of high-end luxury goods, today announced that estimated revenues for the year ending December 31, 2021 are expected to grow to at least $11 million.
"This preliminary estimate is based on the accelerating pace of revenue growth, including the recent multi-year weekly sales record of $318,000 and first quarter revenues of $2.7 million," said Joseph Ladin, Chief Executive Officer of SFLMaven. "Our conservative projections now put us on track to generate at least $11 million of revenue this year, a nearly 40% increase over 2020 revenues and a return to our pre-pandemic revenue base.
"Combined with an increasingly strong gross margin profile driven by robust competitive bidding dynamics for our one-of-a-kind products, we believe operational execution in the months ahead will transition us towards near-term profitability. These efforts include refining ad campaigns to reduce expenses, improving advertising efficiency and scaling the quantity of listings. We are also broadening our multi-channel digital strategy and exploring other sales channels outside of eBay to diversify and expand our reach - we hope to provide more color on this front shortly.
"Looking ahead, we are turning our focus towards completing an audit of our financial statements so that we can file a Form 10, become fully reporting and move to the OTCQB exchange as an interim stop towards our longer-term goal of an eventual Nasdaq listing. I look forward to working closely with the team at SFLMaven to create value for all of our stakeholders," concluded Ladin.
Final recognized revenue is subject to the SFLMaven Corp.'s annual and quarterly audits and will accordingly be released with the Company's audited financial statements and related annual and quarterly reports once fully reporting.
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Life Clips To Enter Cryptocurrency Market With A Definitive Agreement To Acquire Global Blockchain And Digital Currency Platform Belfrics Group
7:30 am ET July 14, 2021 (Globe Newswire) Print
Life Clips, Inc. (OTC Pink: LCLP) (the "Company", "Life Clips"), announced today it has agreed to acquire Belfrics Group ("Belfrics"), a global blockchain technology firm that runs cryptocurrency exchanges on its proprietary platform. Belfrics currently has a presence in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, and Bahrain; and it has the capability to process over 1 million transactions per second. Belfrics CEO and Founder, Praveen Kumar, will remain the CEO of Belfrics, while Robert Grinberg will serve as CEO of Life Clips.
The cryptocurrency market is expected to reach $8 trillion dollars by 2030, while the market for blockchain technology is expected to add $176 billion to the US GDP during the same period. Founded in 2014, the Belfrics digital exchange platform, which was fully developed in-house, is one of the most compliant platforms in the cryptocurrency industry. Supported by the proprietary technology of Belrium blockchain KYC solution, the KYC and AML process of Belfrics Exchange is well accepted by regulators globally. With 10 operational offices in 8 countries, Belfrics provides localized and personalized support to digital currency. Through its blockchain Academy, Belfrics provides continuous training, developers and blockchain enthusiasts in more than 20 countries. Belfrics is licensed and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.
Belfrics CEO and Founder, Praveen Kumar said, "This is an exciting time for Belfrics. After many years of hard work building a global exchange for cryptocurrency and the most secured platform, it is time to spread our wings globally. The acquisition of Belfrics by Life Clips will help expand the reach of both our cryptocurrency platform and our blockchain solutions, which will create an impact worldwide."
Belfrics Group specializes in blockchain technology and digital asset exchange solutions. Belfrics runs two distinct business verticals: Digital asset exchange and blockchain division. Belfrics is one among the few regulated exchanges across the globe, that provides regulated digital asset solutions.
Belrium, the proprietary blockchain developed by Belfrics, acts the central focal point of the blockchain division. Belrium, which is a hybrid private-public blockchain solution, focusses on identity management on blockchain for decentralized transactions.
It has taken a tremendous amount of work to prepare Life Clips for this landmark moment. We are proud to have reached this milestone for our shareholders by becoming current and settling previous liabilities of the Company to the satisfaction of our acquisition candidate," said Life Clips CEO Robert Grinberg. Mr. Grinberg continued, "According to PwC, the total volume of mergers and acquisitions in the cryptocurrency industry more than doubled from $481 million in 2019 to $1.1 billion in 2020. The average deal size increased from $19 million in 2019 to nearly $53 million. Major global cryptocurrency exchanges like Binance, FTX and Coinbase made the top three acquisitions in the crypto industry in 2020. We welcome Praveen and his team to our family and look forward to providing them with the resources to take their world class cryptocurrency exchange and platform to the next level."
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HQGE Returns to Current Status on OTC Markets and Reports Another 550 Million Share Reduction
9:00 am ET July 14, 2021 (Globe Newswire) Print
via NewMediaWire -- HQ Global Education, Inc. (OTC: HQGE) reported today that the company has reported all required financials and has now been returned to "Current Information" status on OTC Markets. The company also reported that its total number of outstanding common has just been reduced by another 550 million , from 7,969,922,441 down to 7,419,922,441. This share reduction occurred as a result of Marvin Williams, President of HQGE and CEO of its operating subsidiary Big M Entertainment Pictures (BMEP), voluntarily returning an additional 550 million of his personally owned to HQGE's treasury. Mr. Williams had previously returned 550 million in March 2021, bringing the total number of he has returned this year to 1.1 billion.
HQGE's CEO Daniel Gallardo Wagner commented, "We are very pleased to make these announcements. We believe our return to Current Status on OTC Markets, along with this significant reduction of our outstanding common not only strengthens our position in the marketplace but also signals to the world that HQGE and Big M Entertainment are continuing to move forward and adapt to today's economic environment in ways that will benefit our shareholders."
Mr. Williams stated, "My decision to voluntarily retire an additional 550 million at this time and in conjunction with HQGE's return to Current Information status is my way of confirming my personal commitment to the overall success of the company. BMEP continues to make significant strides both in moving our current Intellectual Property towards completion and release and by continuing to add additional Intellectual Product to our portfolio. We have many projects in development now and look forward to releasing more news in the very near future."
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