Business
Webstar Technology Group Inc. (WBSR) To Issue Stock As Dividend To Shareholders In Company That Is Positioned As A Player In The Emerging ECO Tech Market
Webstar Technology Group Inc. (WBSR) To Issue Stock As Dividend To Shareholders In Company That Is Positioned As A Player In The Emerging ECO Tech Market.
About this update from Webstar Technology Group Inc.
[{"type":"text","content":"The Company Is Selling Certain Assets To A Private Company, Electrical Compression and Optimization, Incorporated ("Buyer") In Return For Shares In Buyer;The Company Will Be Issuing Existing Shareholders Of Record As Of 5 PM June 21, 2024, Stock On A One 1-For-1 Basis Of Their Holdings, As A Dividend JACKSONVILLE, FL / ACCESSWIRE / June 18, 2024 / 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, today announced it is entering into an Asset Purchase Agreement with a private company, Electrical Compression and Optimization, Incorporated, a Wyoming corporation ("ECO or Buyer") which will acquire certain of the Company's assets.At the time of Closing of the Agreement, Buyer shall transfer to Seller Two Hundred One Million, Fifty-Seven Thousand Two Hundred Seventy-Eight Common Shares (201,057,278) through its transfer agent VStock Transfer LLC, to Seller for dividend distribution to Seller's common stock shareholders.Electrical Compression and Optimization, Incorporated ("ECO") is a new company that is at the forefront of the emerging global Electrical Compression technology market. Don Roberts, the CEO of the Company said: "Possible applications of the Enhanced Electrical Compression process could enable electric cars to double battery range and travel twice as far on a single charge (DC markets) and world-wide electrical consumption for homes and business (AC markets) could be reduced by 50% or more via the Electrical Compression and Optimization process."He continued: "ECO will initially develop Phase One ofthe DC power module for extending battery life (twice as many miles traveled on same charge) of electric vehicles of all varieties of voltages and applications. Phase Two will focus on compressing AC Power for homes and businesses all over the world."This process should be completed by July 31, 2024 through VStock Transfer.About Webstar Technology Group, Inc.Webstar Technology is pioneering a new era of innovation that will unleash the power of the internet and global data delivery capabilities that have never before been realized. Our...