Astra Veda Corp (ASTA)

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ASTRA VEDA CORPORATION RETAINS LEGAL SERVICES OF COHEN & COHEN FOR BANKRUPTCY PROCEEDINGS

Press Release | 03/07/2024
March 7, 2024
OTC Disclosure & News Service

Denver, CO —

This release includes additional documents. Select the link(s) below to view.
ASTA Bankruptcy 07 Mar 2024.pdf

Astra Veda Corporation (OTC PINK: ASTA), known for its focus on developing disruptive technology startups, has taken a significant corporate action by engaging Cohen & Cohen, a law firm based in Denver, Colorado, to begin exploring the possibility of filing for corporate bankruptcy protection. This decision follows a series of legal and financial challenges that have impacted the company's stability and focus.

The need for this exploration stems from a legal ruling in January where the Wyoming court ruled that Astra Veda Corporation was liable for a sum of $887,796.67 based on a 06 September 2016 loan and investment contract claim. The court ordered the company to transfer 12.5% of its shares from every class to the Plaintiff which is conditionally non-dilutive. Following this ruling, Astra Veda Corporation complied by paying the required amount and authorizing the issuance of shares.

The impact of this legal outcome has placed Astra Veda in a difficult financial position, leading to the consideration of bankruptcy as a potential strategy to manage its financial responsibilities moving forward. The company has communicated its intention and will keep stakeholders informed about the progress of any bankruptcy proceedings.

This move reflects Astra Veda Corporation's pragmatic approach to addressing its current financial issues and planning for its future operations amidst challenging circumstances.



ABOUT ASTRA VEDA CORPORATION
Astra Veda Corporation is a Wyoming corporation bringing disruptive and innovative technologies to market through a rigorous due diligence and opportunity assessment program. Through our subsidiary and co- investment affiliate partnerships, Astra Veda provides a variety of unique intellectual property, business processes, products, and tools that create value for our customers and partners.

The company does not routinely communicate with anonymous investors from the public on a one-on-one basis. We want to avoid the appearance of insider trading or other inappropriate communications behavior. All substantive news and information will be sent out by way of the OTC Markets platform as well as other traditional news outlets.
Astra Veda does not engage in promotion of our stock or company.

Source: Astra Veda Corporation
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https://www.otcmarkets.com/stock/ASTA/news/ASTRA-VEDA-CORPORATION-RETAINS-LEGAL-SERVICES-OF-COHEN--COHEN-FOR-BANKRUPTCY-PROCEEDINGS?id=432762