$RRRT Consolidates after News of the O/S Getting Reduced 65%
RRRT Posted two press releases in the last week stating that they are beginning to bring shareholder value back to the company. The release stated their goals:TORONTO, Aug. 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- R-Three Technologies, Inc. (OTC: RRRT), after several years of inactivity, is pleased to announce that the company is taking measures to deliver increased value for shareholders, via an improved capital structure and the launch of several new, strategic initiatives.
As a first initiative, R-Three Technologies, Inc. (OTC: RRRT) has cancelled $564,000 of debt, as per company quarterly filing with OTC. Additionally, R-Three Technologies, Inc. will soon be announcing a new restructuring of its equity.
R-Three Technologies, Inc. (OTC: RRRT) has been working diligently on several other new measures that aim to drive shareholder value. These include new mergers and acquisitions strategy and the hiring of a new senior management team to execute these plans.
“We’re excited about the possibilities moving forward,” explains Stan Kolaric, CEO of R-Three Technologies, Inc. “Our shareholders have been very patient with us as we transition, and for that, we are grateful.”
The second PR a couple days later talked about reducing the S/S by as much as 65% by September 15th. Retiring 125 Mil of the 195 Mil O/S: globenewswire.com/news-release/2020/08/25/2083420/0/en/R-Three-Technologies-Inc-Announces-Reduction-of-its-Market-Cap.html
TORONTO, Aug. 25, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Continuing in its path to increase shareholder value, R-Three Technologies, Inc. (OTC: RRRT), announced today that it plans to retire 125,000,000 shares of Common Stock to the treasury no later than September 15, 2020.
“Our investors benefit from our reducing the number of shares outstanding,” explains Stan Kolaric, CEO of R-Three Technologies, Inc. “Further, the overall market benefits, as we can provide a more realistic view to the market of R-Three Technologies, Inc. market cap valuation and continue on the path to launch of several new strategic initiatives.”
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.