Provides Update on OTCQB Uplisting Process
Several strategic initiatives taken to advance transformation strategy
September 15, 2021 08:00 ET
CHARLOTTE, N.C., Sept. 15, 2021 (GLOBE NEWSWIRE) -- LiveToBeHappy, Inc. (OTCM: CAVR, soon to be LTBH) (“LiveToBeHappy” or the “Company”), a land developer and community home builder in the Southern U.S. with a differentiating technology marketing platform, today announced several actions taken by its board of directors to accelerate the Company’s uplisting to the OTCQB, furthering its transformation strategy. Those include:
Approved an increase in authorized common shares from 1.5 billion to 2.35 billion to ensure adequate coverage of warrants, options, and convertible rights that are already in place and to ensure coverage of restricted shares to be issued in conjunction with the closing of the acquisition companies currently under Letter of Intent (LOI).
Approved the conversion of 400 million common shares owned by Russ Sinacori, Chief Operating Officer, and Bob Silver, Executive Chairman, to restricted Preferred B shares.
Kevin Vincent Cox, Chief Executive Officer of LiveToBeHappy, Inc., commented, “We are thrilled to be advancing our business transformation strategy and are taking the final steps to ultimately uplist the stock to the OTCQB. By shifting some of our executives’ ownership to preferred shares, we were able to limit the increase in our common shares needed to complete the multiple transactions we are finalizing in our pipeline. To put this more simply, we will be increasing our number of shares by less than one times, while increasing our revenue and EBITDA generation capabilities by several times, once these transactions are complete. Additionally, as previously disclosed, we engaged HoganTaylor, LLP as our audit partner and they have nearly completed their due diligence having moved to the audit process, the final step towards uplisting to the OTCQB. Moving to the OTCQB is one of our strategic initiatives, with the aim of providing greater visibility and transparency to the investment community as LiveToBeHappy executes its growth strategy and looks to drive future shareholder value.
