Henderson, NV, Aug. 15, 2023 (GLOBE NEWSWIRE) -- George Sharp, CEO of Stratos Renewables Corporation (OTCMKT: SRNW) (Stratos), provides the following updates to the company’s shareholders.
The Nevada District Court for Clark County has set a date of August 16, 2023 to hear the company’s unopposed motion to cancel 38,609,485 shares of common stock which the company deems were improperly issued and for no value received.
Forwardly, Inc, (OTCMKT: FORW) has agreed to invest $400,000 in Stratos, through the purchase of 2,000,000 units from Stratos, each unit to consist of one share of the Company’s common stock; a warrant to purchase one additional share of the Company’s common stock at an exercise price of $.30 per share by December 31, 2024; and, an additional warrant to purchase one share of the Company’s common stock exercisable at $.50 per share by December 31, 2026. All shares of common stock issued, and the shares of common stock underlying the warrants, are to be registered under a pending Form S-1 Registration Statement to be filed with the SEC.
Mr. Sharp is currently the President of both Stratos and Forwardly.
The acquired funds will be used to eliminate debt ahead of an anticipated acquisition and to continue corporate operations. No date has been set for the completion of any anticipated acquisition.
About Stratos Renewables Corporation
Stratos is an opportunity investor seeking to partner in fresh ideas. The company is headed by George Sharp, a longtime whistleblower, advocate against microcap fraud, and defender of shareholder rights. In addition to his continued participation in these activities, Mr. Sharp consults to public companies, attorneys and those associated with the financial markets. He is also a former consultant to OTC Markets Group, Inc.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT:
Stratos Renewables Corporation
3535 Executive Terminal Drive
Suite 110
Henderson, NV 89052
702-840-4433
