Business
Sports Venues of Florida, Inc. (OTC:BTHR) Announces Reduction in Authorized Common Stock By 6.56 Billion Shares Effective October 15, 2020 -- Existing Shareholders Not Affected by This Corporate Action
Sports Venues of Florida, Inc. (OTC:BTHR) Announces Reduction in Authorized Common Stock By 6.56 Billion Shares Effective October 15, 2020 -- Existing Shareholders Not Affected by This Corporate Action.
About this update from Ggtoor Inc.
[{"type":"text","content":"\n TAMPA, FL, Oct. 19, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Sports Venues of Florida, Inc., (OTCMKTS: BTHR) (“Sports Venues of Florida”, “BTHR”, or the “Company”), an emerging leader in the youth sports, family sports entertainment, and eSports markets, is excited to announce that on October 15, 2020, the Corporation filed with the State of Florida articles of amendment that reduces its authorized common stock from 7,500,000,000 to 937,793,496. The Company did not reverse its issued and outstanding common stock so existing shareholders will not be affected by this corporate action. Management has listened to comments from its shareholders and a common theme shared by many was that the Company had too many authorized shares. Their concern, which was mirrored by management, was with so many authorized shares available it might send a “False Impression” that the Company was making provisions for future heavy dilution. Management wants to provide comfort to its current and future shareholders that they have no plans on extensive dilution in the future. John V Whitman Jr., Sports Venues of Florida, Inc., president and CEO, had this to say about this incredibly positive corporate action, “It is so important that our shareholders know we are listening. This action is one that we feel tremendously good about. The Company obviously needs enough authorized shares to raise capital until the Company becomes self-funding and it may need authorized shares to make a future acquisition. The Company does not need billions and billions of authorized shares that serve no purpose other than making shareholders and prospective shareholders nervous. We are more than pleased to take this action which over the long run will make for a much more stable and balanced capital structure.” About BTHR Sports Venues of Florida, Inc., is a developmental stage company engaged in the business of eSports, and the development of youth sports and family entertainment complexes. The company, through its wholly owned subsidiary, Shadow Gaming, Inc., has aggressively entered the eSports market. In addition, the company plans on operating a few subsidiary companies from high tech data management businesses to product and support businesses. Finally, the Company is actively looking for locations to build...