Business
Consumer Automotive Finance, Inc. Announces Cancellation of 200 Million Common Shares and Updates on Name and Ticker Symbol Change
Consumer Automotive Finance, Inc. Announces Cancellation of 200 Million Common Shares and Updates on Name and Ticker Symbol Change.
About this update from Fifty 1 Labs Inc.
[{"type":"text","content":"MELBOURNE, Florida, December 6, 2024 - Consumer Automotive Finance, Inc. (OTCPK: CAFI), a dynamic company active in the sports supplement, fitness equipment, and health and wellness sectors, is pleased to announce the cancellation of 200 million common shares. This strategic move significantly reduces the company's outstanding share count, reinforcing its commitment to optimizing its capital structure and enhancing shareholder value.The company also provides an update on its ongoing transition to Fifty 1 Labs, Inc., as it continues to work with FINRA to finalize its name and ticker symbol change. The anticipated new ticker symbol will be “FITY.” This rebranding initiative is designed to better reflect the company’s evolving mission and focus, with the new name and symbol expected to take effect in the coming weeks.\"I am thrilled to share these positive developments with our shareholders,\" said Robert Clark, CEO of Consumer Automotive Finance, Inc. \"The cancellation of 200 million shares underscores our commitment to refining our share structure and positioning the company for long-term growth. Additionally, our progress with FINRA on the name and ticker symbol change marks a key milestone in our transformation into Fifty 1 Labs, Inc. This rebranding will allow us to more accurately represent our focus on innovation and growth in the sports nutrition and wellness industries.\"The company recently launched its new \"51\" brand, which includes a range of premium sports supplements, such as pre-workout formulas and BCAA (branched-chain amino acids) products. The initiative is led by former NFL player and two-time National Champion, Brandon Spikes, highlighting the company's dedication to providing high-quality, performance-enhancing products. These products are now available for purchase through the company’s dedicated website, https://get51fit.com.About Fifty 1 Labs, Inc.Consumer Automotive Finance, Inc. (OTCPK: CAFI), soon to be renamed Fifty 1 Labs, Inc., is a publicly traded company focused on sports supplementation, fitness equipment, and holistic wellness. The company operates four key subsidiaries: 51, LLC, which specializes in sports supplements; The Quickness, which offers patented athletic training equipment; Astound NMN, a leader in anti-aging and DNA repair supplements; and Drago Knives, patented knife throwing techno...