ProTek Capital Inc. (OTCPK: ‘PRPM’) is embarking on an exciting new chapter with a fresh start and a change of structure. The company has undergone a complete overhaul, including new management and a shift in focus towards repair and growth.
Under the leadership of CEO Alexander M. Woods-Leo, ProTek Capital Inc. has made significant strides in revamping its operations. The negotiation process with the prior management took several weeks, resulting in a clear separation and a clean slate for the company.
In a major development, Paragon Square Inc. has acquired majority control of ProTek Capital Inc. As part of the acquisition, ProTek Capital Inc. received 3,000,000 Preferred D shares in Paragon Square Inc. These shares come with various preferences, including a 3% revenue dividend and entitlement to 5% of the liquidation in the event of a liquidation by Paragon Square Inc.
Mr. Woods-Leo, who also runs another company specializing in a comprehensive listing platform for goods and services, expressed his excitement about the future prospects of ProTek Capital Inc. He highlighted the objective of the preferred shares, which is to generate cash flow, increase balance sheet assets, and facilitate the company’s repair and expansion.
ProTek Capital Inc.’s new management is committed to implementing a comprehensive repair plan to transition the company from Expert Market to SEC Reporting. Recognizing the urgency of the situation, the company is currently working on sorting out financial statements, receipts, and disclosures to file with OTCMarkets in the interim.
Mr. Woods-Leo emphasized the need for a complete overhaul of ProTek Capital Inc., which has suffered from dilution and a lack of reporting over the years. With his prior experience, he is confident in his ability to bring the company back to a current status. The process will involve multiple stages, starting with saving the listing by becoming pink current, followed by audits and the filing of a Reg A+ Tier 2 or s-1. Once the company is SEC reporting, ProTek Capital Inc. can engage a market maker to help regain the market makers.
To ensure transparency, the company management has purchased the domain www.protekcapital.com, which serves as a platform to provide information to shareholders and will be regularly updated to reflect the company’s progress.
ProTek Capital Inc. is also expanding its presence on social media platforms, including Twitter and Telegram. These channels aim to create a stronger online presence and foster social conversations among shareholders.
Regarding the share structure, ProTek Capital Inc. management has no plans for a reverse split. Instead, they are focused on repairing the company’s status, reporting, and filings to enable it to function as a public company. The company is dependent on management, the Preferred D shares of Paragon Square Inc., and Preferred shares of PRPM to fund the necessary processes.
ProTek Capital Inc. is poised for a new era of growth and success under its new management. With a comprehensive repair plan in place and a commitment to transparency, the company is determined to create long-term value for its shareholders.