HENDERSON, Nevada, May 13, 2020 /PRNewswire/ -- BRK, Inc. (the "Company") (OTC: BRKK) the Company wishes to inform its shareholders that previously communicated initiatives regarding the collection of judgements, future litigation and the creation of a spin-off, remain firm and in play. Management intends to up list BRK form the Pink Sheets to the OTCQB Venture Markets within the next 60 days as it works toward developing operational assets within a vehicle that can be NASDAQ traded. Whilst the current capital markets and economic environment had originally created material obstacles to executing its strategy, management is now seeing the emergence of interest from parties facing a changing landscape of engagement with their viewers and customers.
As part of executing on its continued turnaround and strategic vision, BRK has been collaborating with Intrepid Management Inc., to extinguish onerous debt and to provide necessary operational capital. Negotiations with Intrepid are ongoing for additional substantial financing to facilitate BRK's strategic and operational pathway.
Intrepid Management Inc, a Tennessee based corporation, specializes in providing capital for startups, M&A, and distressed companies. Intrepid's investment objective is to unlock hidden value and drive significant return on investment by providing capital to initiate a strategic catalyst. Their investment portfolio consists of holdings in the financial sector including banking and wealth management, technology, media and media production and broadcast entertainment. Intrepid Management Inc also owns Sovereign Capital LLC that holds land assets for future strategic investment and development.
Mr. Michael Kovacocy, Director of Recapitalization, Restructuring and Investor Relations stated, "We are focused on delivering for shareholders and meeting and exceeding their expectations. We welcome Intrepid as a strategic partner and look forward to regularising and enhancing our investment profile and offering shareholders a more liquid and dynamic trading environment in which to transact in our shares." Mr. Daniel Serruya, CEO of BRK continued, "We are excited for the future development of our company and thank our shareholders for sharing in our strategic vision. With today's announcement, we have moved significantly closer to executing on our ambitious goals. Instructions from BRK's TA regarding post reverse share certificates will be posted to our website www.brkincorporated.com. We shall continue to update shareholders in the near term as progress and milestones are attained."
BRK Inc. (OTC PINK: BRKK), established in 2008, is owner of the Helmet Camera intellectual property (patents-pending) that make the RefCam possible. With the acquisition of the live broadcast helmet camera patent, BRK is poised to enter sports marketing in a big way. iSee Sports Inc. is a wholly owned subsidiary of BRK, Inc.
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.brkincorporated.com does not constitute a part of this release.
SOURCE BRK, Inc.