Las Vegas, NV, Aug. 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Las Vegas Xpress, Inc. (OTC Pink: LVXI) cordially invites its shareholders to attend the annual meeting of stockholders (the “Annual Meeting”) of Las Vegas Xpress, Inc. (the “Company”) to be held at 1:30 P.M., Pacific Time, on Tuesday, September 1, 2020. Due to concerns about the COVID-19 pandemic and the related protocols implemented by federal, state, and local governments, the Annual Meeting will be held virtually via video conference. Please email david.hahn@geocommand.com with your name and email address to receive an invite. All shareholders of record as of July 22, 2020 are welcome to attend. There will be a meet and greet and you will hear from the new members of the Board of Directors, our Chief Technology Officer and our Director of Sales and Marketing. We will also have a Q&A session. All questions must be sent to our compliance officer at joe.cosio-barron@geocommand.com prior to the call. Questions will be answered by management during the Annual Meeting provided they are within the rules and regulations governed by the Securities and Exchange Commission.
On Friday, August 21, 2020, upon securing a majority of the required votes, the Company submitted Form 14 C PRE to the SEC to announce the Company’s intention to effectuate a reverse stock split of 4000:1 and a name change to Maptelligent, Inc.
Albert Koenigsberg, President and CEO of the Company, stated, “My responsibility is to work in the best interest of the shareholders, so I’m disclosing the details of our efforts within the rules and regulations of the law. I’m confident that if the current Company shareholders follow the math behind how we’re managing the Company, as well as our goals and objectives, they’ll see why this is in their best interest for the immediate, intermediate, and long-term targets.”
To facilitate this process, Mr. Koenigsberg has provided the Company with a short-term, interest-free loan of $230,000.00. These funds paid past due fees to LVXI’s auditor to bring the Company current with all past-due SEC filings, fees for listing on the OTC Markets Exchange under an OTCQB listing, fees to the State of Nevada to remain current as a Nevada Corporation, filing fees with FINRA to effect a 4,000:1 reverse split of the common stock, and the fees and expenses required to create and file an S-1 post reverse split capital raise of not less than $5 million. Additionally, the Company was able to hire key personnel including: engineers, a sales manager, marketing experts, and a compliance officer, as well as to retain the current LVXI CFO. A new website is in development and the Company is entering into an agreement with a well-established consulting and private equity firm to ensure a successful money raise. Mr. Koenigsberg will continue to provide interest-free loans until the Company receives approval from FINRA for the reverse stock split and name change.
Upon approval from FINRA and completion of our initial plan to restructure the company as Maptelligent, Inc., management will recognize each Company shareholder of record as of July 22, 2020 that still holds the shares. Each Company shareholder will receive a stock dividend. The number of shares will be determined based on our ability to continue successful negotiations with the convertible note holders of the Company as disclosed in our filings. If the reverse stock split were approved as of today, each Company shareholder would receive 9.2 common shares for each reverse stock share. These shares will be on the same terms as the GEOcommand, Inc. shareholders and will be governed by SEC Rule 144. Fifty percent of these shares will be restricted for sale for 6 months and the balance for 12 months. Legends on the shares will be lifted by Maptelligent, Inc. through a shareholder registration statement. This will allow Maptelligent, Inc. the ability to execute our business plan—then our most valuable asset, the shareholders, can benefit from our immediate, intermediate, and long-term success.
Details of the business to be conducted at the Annual Meeting are described in the Agenda Notice, which will be sent via email to the Company shareholders of record. We encourage you to read all of the recent filings, which include our audited financial statements.
We look forward to your participation in the Annual Meeting.
Sincerely,
/s/ Glenn Corso
Glenn Corso
Chairman of the Board
About Maptelligent, Inc. (OTC Pink: LVXI)
Maptelligent, Inc. is a company that provides first responders, school administrators, and government personnel the critical data they need to prepare for, mitigate, respond to, and recover from emergency situations. Maptelligent creates interactive, dynamic digital floorplans that have a quick learning curve and were designed for non-technical users. Our system is truly unique. None of our competitors deliver both high-level and site-specific in-building critical information.
Albert Koenigsberg | President & CEO
Mobile: 561-926-3083
albert.koenigsberg@geocommand.com