Unitronix Corp. Launches Share Buyback
Initiative
Unitronix Initiates Major Share Buyback to Lead
Responsible Restructuring—Including Significant Reduction in
Authorized Shares—to Boost Shareholder Confidence and Streamline
Corporate Strategy
MARLTON, N.J. -- October 9, 2024 -- InvestorsHub
NewsWire -- Unitronix Corp.
(the "Company" or "Unitronix") (OTC: UTRX), a
forward-thinking organization focused on high-growth opportunities
within blockchain technology, digital currencies, and decentralized
finance (DeFi), is pleased to announce that management recently
approved a share buyback program, with immediate plans to reduce
its Authorized Shares; underscoring Unitronix's commitment to
enhancing shareholder value.
Share Buyback Initiative
In line
with its ongoing restructuring efforts, Unitronix has launched a
share buyback program, authorizing the repurchase of up to
100,000,000 shares of its outstanding common stock through the
remainder of 2024. Management believes this initiative reflects
their confidence in Unitronix's Cryptocurrency
Investment Portfolio Strategy. Further, this action,
along with a reduction of the Company's authorized shares,
management is confident that investments into innovative projects,
could potentially drive significant engagement and growth for the
Company within the blockchain sector.
Unitronix has already initiated the share buyback program by
repurchasing and canceling 23 million shares, marking a significant
step in reducing the outstanding share count. The buyback will be
funded through a combination of cash on hand, cash generated from
operations, and potentially accretive financing options. If
management successfully reaches the buyback target, the current
outstanding share count could potentially be reduced by an
additional 40%.
Stock
repurchases under this initiative may be made from time to time
through open market transactions, privately negotiated
transactions, or other means in compliance with applicable
securities laws. The timing and amount of repurchases will
depend on market conditions, stock price, and other factors as
deemed appropriate by management. The buyback program does not
obligate Unitronix to acquire any specific number of shares and may
be suspended or discontinued at any time without prior notice.
Reduction of Authorized Shares
Unitronix intends to reduce its authorized shares by as much as
75%, down to 500 million from the current two billion. This
action supports management's efforts to create a more efficient and
shareholder-focused equity base. This strategic move, alongside the
Company's Cryptocurrency
Investment Portfolio Strategy, underscores the Company's
commitment to long-term growth and value creation for its
shareholders.
"The
commencement of our share buyback program, the reduction in
authorized shares and the Crypto Investment Portfolio Strategy mark
pivotal moments for Unitronix," said Kenneth J. Williams, Chief
Executive Officer of Unitronix. "These actions reflect our
confidence in the company's ongoing success and our commitment to
returning value to our shareholders while pursuing innovative
growth opportunities."
To
learn more about Unitronix's strategic Portfolio investments and
upcoming projects, follow us on X for real-time
updates or visit us at www.unitronix.ai
for further details.
About Unitronix Corporation
Unitronix Corp.
(OTC: UTRX) is a
forward-thinking company committed to creating value through
strategic investments in the rapidly expanding cryptocurrency and
blockchain ecosystem. The company focuses on capitalizing on
opportunities in digital currencies, decentralized finance (DeFi),
tokenization solutions, and other innovations shaping the future of
finance.
For
investor and general information, please email info@unitronix.ai.
Follow
us on X for real-time
updates.
Forward-Looking Statements:
Safe Harbor Statement - This press release may contain
forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include the intent, belief, or expectations of the
Company and its management regarding the Company's future business
operations and the assumptions upon which such statements are
based. Prospective investors are cautioned that such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, with actual results
potentially differing materially from those contemplated by such
statements. Factors that could cause differences include, but are
not limited to, failure to complete anticipated sales, lack of
revenue growth, client discontinuances, failure to realize
improvements in performance, efficiency, and profitability, adverse
developments with respect to litigation or increased litigation
costs, the operation or performance of the Company's business
units, or the market price of its common stock. Additional factors
can be found on the Company's website. The Company disclaims any
responsibility to update forward-looking statements except as
required by law.
Contact Information
Kenneth
J Williams
525
Route 73 North STE 104
Marlton, NJ 08053
+1
848-202-4899
info@unitronix.ai
https://www.unitronix.ai