Company Lays Out 3 Main Options: Licensing Its Technology, Sale Of Its Technology, Strategic Acquisitions Or Investments In Leading Edge Technology &/Or Acquisition Of The Company By A Third Party Via A Change Of Control
All 3 Options Would Generate Up-Front And Residual Revenues For The Company; Targeted Partners Would Be Experienced, Globally Well-Known Entities With Everything Already In Place For A Quick Launch/Utilization Of The Company's Technology
JACKSONVILLE, FL / ACCESSWIRE / May 16, 2022 / Webstar Technology Group Inc. (OTCQB:WBSR) a software marketing and technology company that identifies, incubates and acquires exclusive rights to promising proprietary technology products and services and provides its shareholders access to participate in cutting edge technology opportunities focused on the internet and global data delivery capabilities, announced in the Form10-Ki filed on March 28, 2022, that the company has chosen a new Plan of Operation.
The change in focus is meant to utilize a faster path to revenues with a minimum of time and expenses. The Form 10-K said:
"Plan of Operation
Management has decided that the fastest way to get the Company's technologies to market is to not bear the burden ourselves. Numerous third parties already have the requisite infrastructure in place and there is no need for the Company to re-build those elements. Additionally, the third parties we seek to align ourselves with, are better positioned to handle the retail, business and governmental marketing sectors worldwide. They will be experienced, globally well-known entities with everything already in place for a quick launch/utilization of the Company's technology.(emphasis added)
There are three main paths that the Company is pursuing: 1) Licensing the technology to third parties; 2) Selling the technology via Permanent License to a third-party; 3) strategic acquisitions or investments in leading edge technology; and 4) Acquisition of the Company by a third party via a change of control of the Company; all of which would generate up-front and residual revenues for the Company."
Don Roberts, the CEO of the Company said: "Initially we had planned to bring the technologies we have acquired from Soft Tech Development Corporation directly to retail ourselves, but based upon our experiences over the past year, we believe that our new path will generate a quicker return without the need for significant capital investment… all to the benefit of our bottom line and for our shareholders holdings value. We believe that the acquisition of the Company by a large, well known technology company would benefit shareholders and are focusing on this pathway while also looking for licensing deals and strategic acquisitions or investments in leading edge technology that can bring immediate revenues to the Company,"
About Webstar Technology Group, Inc.
Webstar Technology is pioneering a new era of innovation that will unleash the power of the internet and global data delivery capabilities that have never before been realized. Our Warp-G Enterprise Software and Gigabyte Slayer mobile application are designed to increase data stream delivery well beyond existing 4G and projected 5G. Combined with our "Smart-Caching" encryption technology and advanced storage optimization capabilities, Webstar will provide disruptive global data delivery, storage, and protection capabilities for every business, every customer. Webstar Technology Group-"Transforming the Connected World through innovative technologies that help businesses thrive and enrich people's lives!"
For more information on Webstar Technology Group Inc. please go to our website: https://webstartechnologygroup.com
Forward Looking Statements Disclaimer: This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Webstar Technology Group Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward -looking statements include the words "vision," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Webstar Technology Group Inc.'s filings with the OTC Markets, Securities and Exchange Commission and/or posted on the company's website.
Webstar Technology Group, Inc.
Harold Hutchins, CFO
SOURCE: Webstar Technology Group, Inc.