HENDERSON, Nevada, April 30, 2020 /PRNewswire/ -- BRK, Inc. (the "Company") (OTC: BRKK) the Company wishes to inform its shareholders that Michael Kovacocy has been appointed Director of Recapitalization and Restructuring initiatives and Investor Relations. This follows the successful implementation of the first part of BRK's turnaround plan, in which Mr. Kovacocy played a key role as an advisor and capital markets intermediary. In light of current market conditions, the expected continued effects of the coronavirus on the economy and the capital markets and as a sign of respect and alignment to shareholders, Mr. Kovacocy has offered to work for the shareholders of BRK for a yearly cash sum of $50,000, with total compensation being weighted towards equity remuneration. Daniel Serruya, CEO of BRK, commented, " I would like to welcome Michael to the BRK team and thank him for his critical efforts to date. He is fully aligned with our mission of delivering both shareholder value and market leading products into a challenging marketplace."
The Company is also pleased to announce that difficult and onerous debt has been extinguished allowing for a declining outstanding share profile over the near term, supported by previously announced buyback efforts. This has been accomplished through various credit and cash injections stemming from collaborations with new strategic partners on more favourable terms. Daniel Serruya further commented, "In the upcoming months, BRK expects to execute its previously announced spin off and shall be updating shareholders regarding news on both historical litigation and expected monetary recoveries and new developments on operational initiatives in its core hardware, broadcasting and live-streaming business. Thank you to all our loyal shareholders for their continued support and trust."
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.