Business
Medical Technologies, Inc. / Infinite Auctions (OTC Pink:MDCE) Provides Shareholder Update
Medical Technologies, Inc. / Infinite Auctions (OTC Pink:MDCE) Provides Shareholder Update.
About this update from Medical Care Technologies Inc.
[{"type":"text","content":"MESA, AZ / ACCESSWIRE / November 15, 2022 / Medical Care Technologies, Inc. (OTC PINK:MDCE) (the "Company") is excited to provide an update as we have entered Q4 which will be the first reporting quarter for Medical Care Technologies with Infinite Auctions LLC as an asset. Marshall Perkins, CEO of the Company, stated: "From the very beginning, our focus has been on generating long-term shareholder value by operating with predictable revenues and a calculated growth plan that can weather significant fluctuations in the economy. As such, it has been a paramount concern of ours to create a solid foundation from which to build. Most of our efforts this past year have been spent doing the really hard work behind the scenes to lay this foundation."The Company would like to highlight several major accomplishments from 2022, including a few stretching back to the second half of 2021:The Company brought its state filings and transfer agent into compliance.The Company cleaned up existing legal issues and updated public information with OTC Markets.The Company cancelled nearly one million dollars in liabilities that were beyond the statute of limitations.The Company successfully reinstated its DTC eligibility.The Company worked through the Nevada courts to cancel two billion shares of common stock that were improperly issued.The Company worked through the Nevada courts to cancel all preferred shares issued by prior ownership and revoke their class designations since they were not properly designated with the state.The Company had an outside independent accounting firm complete a full review and complete reconstruction of Infinite Auctions' financial statements and accounting systems for calendar years 2020, 2021, and 2022 year-to-date through September 30.The Company completed its acquisition of Infinite Auctions LLC in October 2022.The Company announced a joint venture agreement with tech company, Digital Distro, Inc., to launch a state-of-the-art sports memorabilia NFT platform in 2023.The Company launched its first in class "Ship When Sold" escrow consignment store for high value sports collectibles.The Company would like to highlight few details about its recently acquired operating company, Infinite Auctions:Infinite Auctions had annual revenues of $2,024,798 for 2020, and $2,903,654 for 2021.Infinite Auc...