DLT Resolution Provides Shareholder Update
February 23, 2023. Las Vegas, NV - DLT Resolution Inc. (OTC: DLTI) is pleased to provide the following shareholder update.
Transitioning from the OTC Expert Market
As detailed in our previous press release, the Company is working toward moving its common stock off the expert market and on to the OTC Pink and OTC QB marketplace.
As part of this transition the Company must first bring its SEC filings current. Despite our best efforts the Company was impeded by its inability to conclude the 100% owned Union Strategies Inc. audit. This impaired our ability to conclude the consolidated audited financial statements.
Corporate and organisational Restructure
During the first quarter 2023 management has been trying to remedy the situation without prolonged and costly litigation with the previous owner and management of Union Strategies. As part of these efforts, management has raised the necessary capital to pay for its 2021 audit and 2022 quarterly statements and to take such legal actions necessary against the former USI management and owners to resolve the matter.
Management now believes it will settle the matter and divest its interests in USI within the coming days. Failing which we will be filing a motion for damages and injunctive relief as legal counsel deems necessary to protect shareholder interests.
We are hopeful to file the 2021 Dec 31 year end 10K audited report within the next couple weeks. Following this filing the 2022 Q1, Q2 and Q3 will be prepared simultaneously. With USI no longer being required to be audited in the consolidated financial statements, we expect these reports to be filed in a timely fashion.
Management has also been in discussion to potentially divest ddpoorly performing assets and to merge with a far larger organisation that would result in substantially greater financial stability and growth rate. As part of this proposed combination, the result would bring a new and strong executive management to the board of directors to The Company.
Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
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SOURCE: DLT Resolution Inc.