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Cyberlux Corporation Issues Monthly Recap with Key Accomplishments for the month of July 2021
Cyberlux Corporation Issues Monthly Recap with Key Accomplishments for the month of July 2021.
About this update from Cyberlux Corp.
[{"type":"text","content":"FOR IMMEDIATE RELEASECyberlux Corporation Issues Monthly Recap with Key Accomplishments for the month of July 2021Company provides Shareholders and Investors with key updates and milestones that were achieved during July 2021RESEARCH TRIANGLE PARK, N.C. (August 2, 2021) – Today, Cyberlux Corporation, (OTC Bulletin Board: CYBL), a leading provider of LED lighting and renewable energy solutions, provided an update on the Company’s key accomplishments during the month of July 2021.Cyberlux Corporation CEO Mark Schmidt stated:“Dear CYBL Community,July was a busy month by all measures. Here’s a quick recap of what transpired:We reduce our Authorized Share level from the current 20 billion share level to 8.75 billion, a 56% reduction. This provides enough strategic equity to achieve our growth plans while protecting shareholders from any unnecessary dilution.We instituted a “No Reverse Split Policy”, preventing CYBL from a reverse stock split for up to 5 years, and we confirmed our support of shareholders with measures like this No Reverse Split Policy whenever possible.We reported that the Outstanding Share balance of 5.1B included 700M phantom restricted shares that were confirmed lost in 2018 and will never be tradeable, so the Effective Outstanding Share level improves the equity valuation for shareholders by 16%.We set out our growth plans including expanding across government agencies, targeting specific commercial markets, driving growth in South America and expanding our technology IP, with the following priorities:OTC Pink Current ASAPBuild the Org-Key Hires 3QContracts-Pipeline 3Q/4QAcquisition-Priorities 3QProducts 3Q/4QS. America-Pipeline 3Q/4QStrategic IP 4QWe confirmed that we have full OTCIQ access for the filings and the OTC approval process. We began uploading filings as committed and as they are approved. Per the OTCM requirements, the 2020 annual & the Q1 2021 reports are uploading next. We will be in good standing then and expect OTCM Pink Current soon after. We provided a business update that the first acquisition transaction was moving forward as expected and we expect an August close and announcement.We are also bullish on the next acquisition discussions we are having, and we will be updating the shareholders about this in a few weeks as we expect to move forward with this second acquisition.We would ...