Consumer Automotive Finance, Inc. Cancels an
Additional 50 Million Common Shares with Shareholder Commitment to
Retire 250 Million More Common Shares
MELBOURNE, FL --
December 10, 2024 -- InvestorsHub NewsWire
-- Following its recent announcement of the
cancellation of 200 million common shares, Consumer Automotive
Finance, Inc. (OTCPK: CAFI), a dynamic company active in the
sports supplement, fitness equipment, and health and wellness
sectors, is pleased to announce the cancellation of an additional
50 million common shares. This move further underscores the
Company's dedication to optimizing its capital structure and
enhancing long-term shareholder value.
In addition, a key
shareholder has committed to retiring an additional 250 million
common shares in the near future. These efforts collectively
represent a transformative step in the Company's ongoing mission to
streamline its share structure and position itself for sustained
growth and success. When successful in eliminating 300 Million
Common shares the company expects its issued and outstanding share
count to be 262,978,600.
"This latest cancellation of
50 million shares, along with the commitment from a shareholder to
retire 250 million more, is a testament to our shared vision for a
stronger, more efficient company," said Robert Clark, CEO of
Consumer Automotive Finance, Inc. "These initiatives demonstrate
our continued focus on improving equity value for our shareholders
and building a solid foundation for long-term success. We are
committed to driving meaningful change that benefits all
stakeholders."
The announcement follows the
Company's progress in its rebranding efforts. Consumer Automotive
Finance, Inc. is in the process of transitioning to Fifty 1 Labs,
Inc., with its anticipated new ticker symbol "FITY." This
rebranding initiative, currently under review by FINRA, reflects
the Company's evolving mission and focus on innovation in the
sports nutrition and wellness sectors.
The Company also announced
it recently filed Form 15c2-11 with the U.S. Securities and
Exchange Commission (SEC), marking a significant step toward
improving its financial transparency and compliance. This filing is
required by the SEC to enable a company to maintain its quotation
on the Over-the-Counter (OTC) Markets.
"Our strategic actions,
including the reduction of our outstanding shares and the upcoming
transition to Fifty 1 Labs, Inc. along with the filing of our
15c2-11, reflect our commitment to aligning our operations with our
growth-oriented vision," Clark added. "We are building momentum and
positioning ourselves as a leader in the health and wellness
space."
Lastly, the Company is
actively taking the necessary steps to remove the yield sign from
OTC by submitting its annual disclosure opinion letter. This
process includes a scheduled call with all directors and our legal
counsel, ensuring full compliance and transparency to strengthen
investor confidence. The Company anticipates it will have the
opinion letter posted in the coming days.
About Fifty 1 Labs,
Inc.
Consumer Automotive Finance,
Inc. (OTCPK: CAFI), soon to be renamed Fifty 1 Labs, Inc., is a
publicly traded company focused on sports supplementation, fitness
equipment, and holistic wellness. The company operates four key
subsidiaries: 51, LLC, which specializes in sports supplements; The
Quickness, which offers patented athletic training equipment;
Astound NMN, a leader in anti-aging and DNA repair supplements; and
Drago Knives, patented knife throwing technology. Fifty 1 Labs,
Inc. is also actively pursuing strategic acquisitions to expand its
portfolio and drive sustainable growth.
Safe Harbor Statement:
The information provided in
this release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Identifiable by words such as "may," "will," "should," "plans,"
"expects," "anticipates," "continue," "estimate," "project,"
"intend," and similar expressions, these statements may also be
made in written or oral form in the company's filings with the U.S.
Securities and Exchange Commission, OTC Markets, press releases,
other written materials, or in oral statements made by its
officers, directors, or employees to third parties. There can be no
assurance that such statements will prove to be accurate. The
company cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the company's Disclosure Statements. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or anticipated.
These risks and uncertainties include, but are not limited to,
general economic and business conditions, effects of continued
geopolitical unrest and regional conflicts, competition, changes in
technology and methods of marketing, delays in completing various
engineering and manufacturing programs, changes in customer order
patterns, changes in product mix, continued success in
technological advances and delivering technological innovations,
shortages in components, production delays due to performance
quality issues with outsourced components, and various other
factors beyond the company's control. The company does not
undertake any obligation to update publicly or to revise any
statements in this release, whether as a result of new information,
future events, or otherwise.
Investor Relations
Contact:
Investor Relations
844-714-2224
ir@fifty1labs.com
