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KRTL Holding Group Announces Court Order Approving Further Cancellation and Correction of Legacy Shares and Establishing Corporate Baseline
KRTL Holding Group Announces Court Order Approving Further Cancellation and Correction of Legacy Shares and Establishing Corporate Baseline.
About this update from Krtl Holding Group, Inc
[{"type":"text","content":"KRTL Holding Group Inc. (OTC: KRTL) (the “Company” or\r\n“KRTL”), a diversified holding company with interests in biotech, agriculture,\r\nand emerging markets, announced that on January 2, 2026, the Third Judicial\r\nDistrict Court of Salt Lake County, Utah, granted the Company’s Verified Motion\r\nto approve further cancellation and correction in relation to common stock\r\nlistings. The Court’s order authorizes the cancellation and correction of\r\n1,330,035 legacy shares of the Company’s common stock that, based on available\r\nrecords and the Company’s shareholder verification procedures, were determined\r\nto be unverified, unsubstantiated, or improperly issued. As of January 5, 2026, the Company’s transfer\r\nagent reports 98,016,072 shares of common stock outstanding; upon\r\nimplementation of the court-authorized cancellations, the Company expects the\r\nreported outstanding share count to be reduced by 1,330,035 shares to\r\n96,686,037 shares.\r\nIn its order, the Court addressed the Company’s efforts to\r\nrestore the availability of accurate, reliable, and current public information.\r\nThe Court found that the Company has completed PCAOB-audited financial\r\nstatements as a good-faith effort to provide transparency and reliable\r\ninformation for shareholders and regulatory stakeholders. The Court further\r\nfound that the Company has cancelled known unverified, unsubstantiated, or\r\nimproperly issued shares, including 1,330,035 shares addressed by the motion,\r\nand that the Company’s current share structure accurately reflects validly\r\nissued and outstanding securities. The Court also found and ordered that the\r\nCompany’s certified, current disclosures, including its PCAOB-audited financial\r\nstatements and corrected share ledger filed as exhibits with the Court, shall\r\nserve as the Company’s official financial and corporate baseline going forward,\r\nincluding for purposes related to SEC Rule 15c2-11 review.\r\nSEC Rule 15c2-11 generally governs the ability of\r\nbroker-dealers to publish or submit quotations in the OTC market and requires,\r\nsubject to exceptions, that certain current and publicly available issuer\r\ninformation be reviewed in connection with initiating or resuming quotations.\r\nThe Company believes the Court’s baseline determination supports the\r\nreliability and consistency of...