HENDERSON, Nev., Sept. 1, 2020 /PRNewswire/ -- BRK, Inc. (the "Company") (OTC: BRKK) wishes to inform its shareholders of the following key material developments:
BRK is to be renamed "Gen2 Technologies", and the company will begin the process of changing the ticker symbol from BRKK to a new ticker symbol to be announced at the time of relevant procedural milestones.
The company will look to uplist its shares to the OTCQB, become a fully reporting entity as per SEC guidelines and deliver ongoing audited quarterly reports.
Gen2 Technologies will be a parent entity where all IP related to the Gen2 technology portfolio resides, alongside all rights to litigation claims related to legacy technology.
Commercialization of the Gen2 technology portfolio will be executed via three 100% wholly owned subsidiaries - Gen2 Sports, Gen2 Industrial and Infrastructure and Gen2 Alternatives. Gen2 Industrial and Infrastructure will encompass varied markets such as industrial processes, law enforcement and military, and public mass transport infrastructure such as buses and trains. Gen2 Alternatives will concentrate on advanced applications incorporating our camera technology into disruptive technology and business models such as our recently announced blockchain enabled gold-backed digital token.
The previously communicated objective of having one commercial entity separate from BRK, the current publicly traded company, and having shareholders of BRK only own 10% of that entity is hereby voided. Shareholders in BRK (subsequently to be renamed "Gen2 Technologies") will own 100% of each and every one of the three wholly owned subsidiaries, Gen2 Sports, Gen2 Industrial and Infrastructure and Gen2 Alternatives.
BRK's geographic focus will be expanded to include Europe and CIS. Management expects this geographic diversification will benefit shareholders via a steady source of cash flow and less exposure to one primary market of North America - where cash flow is likely to be driven more by the anticipated high growth of the Gen2 Sports franchise. European and CIS operations are envisioned to focus primarily on the Gen2 Industrial and Infrastructure business. In particular, emphasis will be placed on winning business initially in public mass transport and especially within the sustainable EV (electric vehicles) segment. The company is already proceeding to execute on these plans and expects to have material updates for shareholders in the near future.
Following a detailed search, management has selected Harbor Access to assist in efforts to reach a broader and more selective investor base through professional, fundamentals based, and non-promotional activities aimed at highlighting our company's ongoing value proposition. We believe the added reach into key investor bases in NYC, Canada and London, in particular, will be key to ensuring that our company continues to progress to its stretch goal of a market cap of $100m+ within our mid-term budgeting timeframe of the next 24 months.
Management would like to thank shareholders for their continued support and loyalty and looks forward to building on the progress seen so far in 2020. We expect the last quarter of this year along with the entirety of 2021 will be transformational in our journey from a pre-revenue turnaround to a diversified and sustainable cash flow positive company.
BRK Inc. (OTC PINK: BRKK), established in 2008, BRK is the next generation in live-action broadcasting technology. We are a full-service provider geared to professional leagues and athletes, whether it be traditional sports, extreme sports or esports, and that will allow fans to watch them in action from perspectives that do not exist today. Our niche is that we are a second screen content provider that does not pose a threat to first screen media but rather we provide the opportunity to pioneer complimentary content and campaigns. In addition to the above, Gen 2 technology is being developed for applications in security, law enforcement and other industrial verticals.
The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as "will," "anticipate," "believe," "plan," "estimate," "expect," "intend," "is targeting," "may," "should," ''poised,'' and other similar words or expressions. Forward-looking statements are made based upon management's current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on BRK Inc.'s website, http://www.brkgen2.com does not constitute a part of this release.
SOURCE BRK, Inc.