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Consumer Automotive Finance, Inc. Cancels an Additional 50 Million Common Shares with Shareholder Commitment to Retire 250 Million More Common Shares
Consumer Automotive Finance, Inc. Cancels an Additional 50 Million Common Shares with Shareholder Commitment to Retire 250 Million More Common Shares.
About this update from Fifty 1 Labs Inc.
[{"type":"text","content":"MELBOURNE, Florida, December 10, 2024 — Following its recent announcement of the cancellation of 200 million common shares, 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 an additional 50 million common shares. This move further underscores the Company’s dedication to optimizing its capital structure and enhancing long-term shareholder value.In addition, a key shareholder has committed to retiring an additional 250 million common shares in the near future. These efforts collectively represent a transformative step in the Company’s ongoing mission to streamline its share structure and position itself for sustained growth and success. When successful in eliminating 300 Million Common shares the company expects its issued and outstanding share count to be 262,978,600.“This latest cancellation of 50 million shares, along with the commitment from a shareholder to retire 250 million more, is a testament to our shared vision for a stronger, more efficient company,” said Robert Clark, CEO of Consumer Automotive Finance, Inc. “These initiatives demonstrate our continued focus on improving equity value for our shareholders and building a solid foundation for long-term success. We are committed to driving meaningful change that benefits all stakeholders.”The announcement follows the Company’s progress in its rebranding efforts. Consumer Automotive Finance, Inc. is in the process of transitioning to Fifty 1 Labs, Inc., with its anticipated new ticker symbol “FITY.” This rebranding initiative, currently under review by FINRA, reflects the Company’s evolving mission and focus on innovation in the sports nutrition and wellness sectors.The Company also announced it recently filed Form 15c2-11 with the U.S. Securities and Exchange Commission (SEC), marking a significant step toward improving its financial transparency and compliance. This filing is required by the SEC to enable a company to maintain its quotation on the Over-the-Counter (OTC) Markets.“Our strategic actions, including the reduction of our outstanding shares and the upcoming transition to Fifty 1 Labs, Inc. along with the filing of our 15c2-11, reflect our commitment to aligning our operations with our growth-oriented vision,” Clark ad...