$BLFR BlueFire Equipment Corp (BLFR) Shares a Letter from the Interim CEO with Updates on the Share Structure
Press Release | 10/30/2023
BlueFire Equipment Corp.(OTC: BLFR) (BLFR or the Company), a specialist in emerging industry acquisitions,today shares a letter from the Companys Interim CEO and Director of the Board, Nickolas S. Tabraue with updates on the share structure.
Dear Shareholders and Investors,
Management plans to commence the process on cancelling 18,000,000 shares of Common Stock and amend its articles to decrease the current 2,000,000,000 Authorized shares to 250,000,000 share. The conversation with SEC legal has been made with the intentions to execute in the beginning of November 2023.
Management is confident that there will not be a need for a reverse split to meet NASDQs $5.00 minimum bid requirement based on the Companys recent merger in September 2023; new partnership with a Joint Operating Agreement being negotiated and finalized to increase production within current operating assets; acquiring additional operating assets to increase revenues, assets, and cashflow; one major producing asset by the end of 2023 and a second within Q1/Q2 2024. There is no need to have more than 250,000,000 shares authorized to manifest our vision while maintaining share integrity and increasing value.
I look forward to sharing updates as we actualize the aforementioned ambissions.
Thank you,
Nickolas S. Tabraue
Interim CEO, Chief Compliance &
Investor Relations Officer, and Director of the Board
