BRK Updates Shareholders on Key Litigation
PR Newswire
HENDERSON, Nev., Aug. 18, 2020
HENDERSON, Nev., Aug. 18, 2020 /PRNewswire/ -- BRK, Inc. (the "Company") (OTC: BRKK) wishes to inform its shareholders that as per previous official communications, management views the overall prospects of its current litigation related to BRK's legacy technologies favorably. There has been no adverse change in the likelihood of recoveries to management's knowledge.
Mr. Michael Kovacocy, COO and Head of IR, stated: "We are placing our focus on the development of our ongoing operations and the build out of full-scale commercial operations centered around our cutting-edge Gen2 technology. We intend to continue to aggressively pursue shareholder interests in the litigation of our claims regarding to our legacy technology. We would like to inform our shareholders that as a consequence of our confidence in our funding model and the near to mid-term potential of our new Gen2 technology, we will not retain all monies collected in any potential judgement related to our ongoing litigation. Rather, we will issue a one-off exceptional cash dividend to all shareholders of record at the time we collect said monies, with the dividend being equal to 50% of the total judgement collection. This decision is in line with both our confidence in our business and also our primary goal of maximizing both shareholder value and long-term shareholder cash remuneration. We thank our shareholders for their continued loyalty and support and look forward to sharing exciting developments in the very near term."
