Letters have been sent, but there is no assurance all of the addresses we have are still correct, so I am sending the message to you directly:. If you know of others who have not received this, please forward a copy, or send me an email address and I will do so.
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Dear Solei Liquidation Trust Beneficiary,
I trust this letter finds you in good health and high spirits. I am delighted to share with you the remarkable journey of The CareClix Group of Companies, of which you are a proud owner, culminating in our recent acquisition by WPFH Holdings – a momentous event marking the end of my tenure as your Trustee and the dawn of a new era as shareholders in what we believe is the inaugural US Super App.
As we have communicated in the past, this journey began when trading in the stock of our company, under the trading symbol SOLI, was suspended by the SEC without justification, along with many other companies, at the beginning of the COVID crisis, because of a press release we issued advising that we had made arrangements with a licensed laboratory to provide COVID testing. Although that release was accurate, the SEC suspended trading in a number of COVID related companies in a single announcement, apparently so that it could gain time to investigate COVID-related claims being made. Eventually, we demanded, and received, a letter from the SEC that SOLI was not under investigation for any wrongdoing, but the damage had already been done. Our trading price dropped from more than $1.00 and settled at $0.10 per share, a market cap for SOLI of $25 million and no viable way to recreate the potential we had previously had with SOLI.
Without repeating the unfortunate saga of the Life on Earth fiasco, we have been focused on reestablishing the CareClix Companies as a viable, publicly-traded operation beginning in late 2021. That has now been achieved, with the acquisition of VHHI, our parent holding company, by WPH Holdings Inc. (WPFH) from the Solei Liquidating Trust, formed in September 2022. The final stage of this journey is now in process. SOLI has been liquidated and dissolved, VHHI is now a wholly owned subsidiary of WPFH, and WPFH has already requested its transfer agent, Continental Stock Transfer & Trust in New York, to issue the 7 million shares of WPFH common stock to the beneficiaries of the SOLI Liquidating Trust, who are all of the former common shareholders of SOLI as reflected on the official stock records of SOLI as maintained by its stock transfer agent as of December 31, 2021. The approximate exchange ratio is 0.03 shares of WPFH for each share of SOLI previously held, or 31 shares of WPFH for each 1,000 shares of SOLI. The key positive note is that we are receiving collectively shares of WPFH with a market of $140 million for shares of SOLI with a market cap of $25 million as of December 31, 2021.
Under the dedicated stewardship of the CareClix team, your investment has now flourished, and you should take pride in the exceptional effort demonstrated by the employees and management of Virtual Health Holdings Inc. (VHHI), parent company of the CareClix Group. The acquisition of 100% of the assets of the Solei Acquisition Trust by WPFH Holdings, followed by the equitable distribution of 7 million restricted WPFH shares to you all, as trust beneficiaries, signifies not just a transition of ownership but the birth of a groundbreaking enterprise. The vision for our collective future is that of a successful US based Super App, with a projected combined revenue of an impressive $150 billion.
The transaction's dollar value stands at an impressive $140,000,000 USD to be distributed to you the owners. All former shareholders of SOLI will be issued their allocated WPFH shares promptly (allow 30 days), electronically and held in your name (book entry) by the WPFH transfer agent, and paper stock certificates can be requested from the transfer agent if desired. In adherence to SEC rules, your WPFH shares when issued will be restricted for a period of six to twelve months as privately issued, unregistered shares.
I express my deepest gratitude for your patience and support throughout my tenure as your Trustee, which I undertook voluntarily, without compensation, to complete the work started as Chairman and CEO of SOLI, also without compensation. As we embark on this exciting new chapter, now as proud shareholders of WPFH. and its subsidiaries, including Vezbi and VHHI, operating the healthcare division of WPFH, including the CareClix Group of Companies, I urge you to continue supporting and promoting our ventures.
In the spirit of successful investors who actively engage with their holdings, consider downloading the Vezbi Super App today at www.vezbi.com, and subscribing to the MyGuardianDoc service for yourself and immediate family. Encourage your network of friends, family, business contacts, and medical professionals – to explore the offerings of CareClix for Medical Specialty Services and Remote Patient Monitoring.
I am honored to continue the role of CEO of Virtual Health Holdings Inc, as a subsidiary of WPFH, and I look forward to earning your enduring support. This new beginning is an opportunity for us all, and your commitment will play a pivotal role in our shared success.
In the business world, triumphs are rare, but with your continued support, I am confident we can continue to defy the odds and grow shareholders’ value to the benefit of a great many people across the globe.
Best regards,
Charles "Charlie" Scott
CEO and Chairman,
Virtual Health Holdings Inc
