NextMart, Inc (NXMR)

[JMMatthews]

NextMart, Inc. - Further Lowering of Authorized Common Stock

CARLSBAD, N.M., Sept. 16, 2022 /PRNewswire/ -- NextMart, Inc. (the "Company" or "NXMR" - Pink Sheets Alternative Reporting Pink: NXMR) – NXMR would like to announce that the Company's plans on lowering its authorized Common Stock down to 250,000,000 shares of Common Stock in a two-step corporate action process.

The Company currently has 500,000,000 shares of Common Stock authorized (Par Value $0.01). The Company will immediately lower its authorized Common Stock to 300,000,000 shares. The Company is currently in the process of cancelling approximately 68,000,000 shares of Common Stock. Upon these shares of Common Stock being officially cancelled, the Company will lower its authorized Common Stock to 250,000,000.

Kathryn Gavin (CEO of the Company), states…" The corporate actions described in this release will lower our authorized common stock from 500,000,000 to 250,000,000 shares of Common Stock. Again, as previously stated on the last lowering of the authorized Common Stock of the Company, these corporate actions are part of our ongoing efforts to restructure the capitalization of the Company to mainly benefit current shareholders and to become attractive to future company acquisitions. These two planned corporate actions will put in place an anti-dilutive, pro market investor common stock structure. It is important to note that when current management took over this Company last year, it had 750,000,000 shares of Common Stock authorized. The net effect of the two proposed corporate actions described in this release will result in the authorized Common Stock of the Company being one-third of what it was less than a year ago."

https://www.prnewswire.com/news-releases/nextmart-inc--further-lowering-of-authorized-common-stock-301626108.html

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