NEW YORK, Dec. 19, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Safer Shot, Inc. SAFS, a developer of proprietary security and protection technology targeting the personal security market, today provides an overview of objectives indicative of planned corporate growth and direction.
"I am pleased to offer this update to our shareholders as we prepare for a revitalization of our operations," states Safer Shot Chairman Michael Black. "While each of the objectives listed below are in various stages of completion, we anticipate reaching each goal in the near future and will provide updates as they become available."
Capitalization
Safer Shot is in the process of arranging for a private capital commitment of up to $1,000,000. The capital will be, for reengineering and updating our proprietary, non-lethal weapon technology; up-listing to the OTCQB; staffing new operations; and research and development. The anticipated financing is designed to be relatively non-dilutive and will carry a two-year term with defined conversion terms at $.10 per share or more.
Bouncer- Non-Lethal Personal Weapon
Safer Shot continues to evaluate options regarding the reengineering and updating of its non-lethal Bouncer weapon technology to strengthen and enhance its effectiveness. Upon completion of the capital commitment, research into product enhancements are planned, as well as identifying new partners to increase its effectiveness for individual safety.
Corporate Structure
Management has developed a capital restructuring plan that will significantly reduce the shares outstanding, reduce the Corporation's authorized common stock, create a preferred stock class for future finance, and implement a common stock warrant program for our shareholders.
OTCQB Uplisting
As part of our strategy to expand our financial communication program, Management is taking steps to ultimately uplist to the OTCQB® Venture Market. This will represent an important milestone for the Company and its shareholders, providing greater transparency and increased exposure to a broader investing audience.
As a verified market with efficient access to U.S. investors, OTCQB is an established public market that helps companies build shareholder value while working to enhance liquidity and achieve fair valuation. In fulfilling OTC Markets' uplisting requirements, Safer Shot will successfully complete a verification and management certification process, as well as perform a full audit of all financial records for the prior two years of operations. To that end, Management is identifying and selecting a CPA audit firm for this process.
This press release contains statements that are forward-looking, and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Safer Shot, Inc's current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Safer Shot, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Safer Shot, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Safer Shot, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Safer Shot, Inc.
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