FORT LAUDERDALE, FL, April 22, 2022 (GLOBE NEWSWIRE) — SFLMaven Corp. (OTC Pink: SFLM), (“SFLMaven” or the “Company”) (www.sflmaven.com), a leading provider of high-end luxury goods, is pleased to announce that the Company’s CEO, Joseph Ladin, is voluntarily returning 300 million shares of common stock to the Company’s treasury as an initial step in the Company’s newly initiated shareholder value protection campaign.
The move is designed to reduce outstanding shares to protect SFLMaven shareholders from dilution risk.
“As our financial reality has shifted over recent months, we have an opportunity to drive value for our shareholders in many ways, including proactive measures designed to eradicate dilution risk,” stated Ladin. “As an initial step, I will voluntarily return 300 million shares of common stock to our treasury, thereby reducing total outstanding shares by 15%, which directly helps our other shareholders access value as the supply of shares drops and the potential for those shares to come into the market as share sales is eliminated.”
Management notes that it is committed to establishing a shareholder-friendly relationship with its common stockholders. Cash flows derived directly from operations so far in 2022 have granted the Company room to tighten up its capital structure.
Additional proactive measures targeting this agenda will be announced in future communications.
Visit the Company’s eBay store (www.ebay.com/str/sflmavenantiquesjewelryfineart) for more information or to participate in SFLMaven’s upcoming Famous Thursday Night Auction event.
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SFLMaven Corp. (OTC Pink: SFLM) is a premium provider of high-end luxury goods to a global base of discerning patrons. Famous for its Thursday Night Auction events on its top-rated eBay store, SFLMaven has driven over $140 million in sales since inception, earning more than 100k positive reviews along the way. For more information, please visit the Company’s website at www.sflmaven.com.
This press release may contain forward-looking statements, including information about management’s view of SFLMaven Corp.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words ‘believes,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘anticipates,’ or ‘may,’ and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven’s future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.
SOURCE: SFLMaven Corp.