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Webstar Technology Group Inc. (WBSR) Announces New Plan Of Operation; Contained In Company's Form 10-K Filed On March 29, 2022
Webstar Technology Group Inc. (WBSR) Announces New Plan Of Operation; Contained In Company's Form 10-K Filed On March 29, 2022.
About this update from Webstar Technology Group Inc.
[{"type":"text","content":"Company Lays Out 3 Main Options: Licensing Its Technology, Sale Of Its Technology, Strategic Acquisitions Or Investments In Leading Edge Technology &/Or Acquisition Of The Company By A Third Party Via A Change Of ControlAll 3 Options Would Generate Up-Front And Residual Revenues For The Company; Targeted Partners Would Be Experienced, Globally Well-Known Entities With Everything Already In Place For A Quick Launch/Utilization Of The Company's TechnologyJACKSONVILLE, FL / ACCESSWIRE / May 16, 2022 / Webstar Technology Group Inc. (OTCQB:WBSR) a software marketing and technology company that identifies, incubates and acquires exclusive rights to promising proprietary technology products and services and provides its shareholders access to participate in cutting edge technology opportunities focused on the internet and global data delivery capabilities, announced in the Form10-Ki filed on March 28, 2022, that the company has chosen a new Plan of Operation.The change in focus is meant to utilize a faster path to revenues with a minimum of time and expenses. The Form 10-K said:"Plan of OperationManagement has decided that the fastest way to get the Company's technologies to market is to not bear the burden ourselves. Numerous third parties already have the requisite infrastructure in place and there is no need for the Company to re-build those elements. Additionally, the third parties we seek to align ourselves with, are better positioned to handle the retail, business and governmental marketing sectors worldwide. They will be experienced, globally well-known entities with everything already in place for a quick launch/utilization of the Company's technology.(emphasis added)There are three main paths that the Company is pursuing: 1) Licensing the technology to third parties; 2) Selling the technology via Permanent License to a third-party; 3) strategic acquisitions or investments in leading edge technology; and 4) Acquisition of the Company by a third party via a change of control of the Company; all of which would generate up-front and residual revenues for the Company."Don Roberts, the CEO of the Company said: "Initially we had planned to bring the technologies we have acquired from Soft Tech Development Corporation directly to retail ourselves, but based upon our experiences over the past year, we believe that ou...