Tampa, FL - (NewMediaWire) - October 19, 2020 - Sports Venues of Florida, Inc., (OTCMKTS: BTHR) (“Sports Venues of Florida”, “BTHR”, or the “Company”), an emerging leader in the youth sports, family sports entertainment, and eSports markets, is excited to announce that on October 15, 2020, the Corporation filed with the State of Florida articles of amendment that reduces its authorized common stock from 7,500,000,000 to 937,793,496.
The Company did not reverse its issued and outstanding common stock so existing shareholders will not be affected by this corporate action. Management has listened to comments from its shareholders and a common theme shared by many was that the Company had too many authorized shares. Their concern, which was mirrored by management, was with so many authorized shares available it might send a “False Impression” that the Company was making provisions for future heavy dilution.
Management wants to provide comfort to its current and future shareholders that they have no plans on extensive dilution in the future. John V Whitman Jr., Sports Venues of Florida, Inc., president and CEO, had this to say about this incredibly positive corporate action, “It is so important that our shareholders know we are listening. This action is one that we feel tremendously good about. The Company obviously needs enough authorized shares to raise capital until the Company becomes self-funding and it may need authorized shares to make a future acquisition. The Company does not need billions and billions of authorized shares that serve no purpose other than making shareholders and prospective shareholders nervous. We are more than pleased to take this action which over the long run will make for a much more stable and balanced capital structure.”
Sports Venues of Florida, Inc., is a developmental stage company engaged in the business of eSports, and the development of youth sports and family entertainment complexes. The company, through its wholly owned subsidiary, Shadow Gaming, Inc., has aggressively entered the eSports market. In addition, the company plans on operating a few subsidiary companies from high tech data management businesses to product and support businesses. Finally, the Company is actively looking for locations to build indoor eSports arenas that will host major international gaming tournaments.
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections as well as our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of Sports Venues of Florida, Inc.
For Additional Information Contact:
John V Whitman Jr.,