DLT Resolution Provides Shareholder Update
Las Vegas, NV - July 3 - DLT Resolution Inc. (OTC: DLTI) is pleased to provide a comprehensive update to its shareholders regarding recent developments.
Transitioning to OTC Pink and OTC QB Marketplaces
DLT Resolution is actively working on transitioning its common stock from the OTC Expert Market to the OTC Pink and OTC QB marketplaces, as previously communicated in our press releases. However, we faced challenges in bringing our SEC filings up to date due to the impediments encountered during the audit process of our wholly owned subsidiary, Union Strategies Inc.
Despite our best efforts, the management and former owners of Union Strategies repeatedly denied access to corporate records, bank accounts, and declined to sign auditor confirmations. This lack of cooperation, along with unreliable information and growing liabilities, led to our decision to divest our interest in Union Strategies and write down the investment in our upcoming financial reports.
Resolving the Situation
Throughout the first half of 2023, our management has been diligently working to resolve this matter without resorting to lengthy and costly litigation with the previous owner and management of Union Strategies. We have successfully raised the necessary capital to fund our 2021 audit and 2022 quarterly statements, as well as to take legal action against the former USI management and owners to protect shareholder interests.
We have placed a Stop Transfer on the shares held by Lina Vecchio, the former owner and director of Union Strategies, and anticipate filing a motion for damages and injunctive relief as advised by our legal counsel.
Recent Filings and Future Reporting
In Q1 2023, we filed the long-awaited audited report for the year ending December 31, 2021 (10K report). Furthermore, the reports for Q1, Q2, and Q3 of 2022 have been prepared simultaneously and are expected to be filed in the coming days.
With the divestiture of Union Strategies, we anticipate future reports to be filed in a timely fashion.
Divestiture of DLT Data Services Ltd.
In addition to the divestiture of Union Strategies, DLT Resolution management has also divested its 100% owned subsidiary, DLT Data Services Ltd.
Merger and Improved Financial Stability
DLT Resolution is currently negotiating a merger with a significantly larger organization, which promises enhanced financial stability and accelerated growth. This proposed merger would bring new and strong executive management and board of directors to our company.
We remain committed to delivering value to our shareholders and appreciate their continued support as we navigate these developments.
For more information, please contact:
1 (800) 463-5465
Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements.