Hydro Power Technologies
(PYBX) Announces a Three Hundred Fifty-Million Shares Common Stock
Reduction for Outstanding Shares and Corporate
Updates
Burlington ON --
June 18, 2020 -- InvestorsHub NewsWire -- Hydro Power
Technologies, Inc., (OTC
PINK:
PYBX) is
accelerating development internationally with its
patent
pending Hammer1 Technology.
The
enhanced
impact
turbine power
production is accomplished by
increasing jet
projectile velocities through the
Hammer1 Gun Valve. The Hammer1
Gun Valve is the device used to start and
stop the fluid movement, which creates the additional jet
velocity, resulting in improved
kinetic
energy, with
less effort and more energy per operating
dollar.
In August 2019, the
Company acquired over 1 Billion
common
shares from the previous control
group. In January 2020, the Company returned Five Hundred
Million shares to the treasury.
On Wednesday, June
16, 2020 Hydro Power Technologies,
Inc. held a
board meeting to approve the cancellation of a further 350 Million
shares. This will reduce the total issued and
outstanding PYBX shares from 574,092,936
to a total of
224,004,936 shares outstanding as of June
16,
2020.
On June 5, 2020,
the Company filed a Supplemental Filing with OTC
markets, which reflected the March 31,
2020 2nd Quarterly financials, which included the
new Hydro Power Technology, Inc.
business. The Company has requested OTC Markets to remove the shell designation from the
Company's OTC Markets Portal, since the Company is no longer
a shell as defined by the US Securities and Exchange
Commission guidelines. The Company
anticipates
OTC Market approval soon. Lastly, the Company
anticipates approval pursuant to the pending FINRA application
for the name and symbol change of the Company to Hydro Power Technologies
Inc. and HPTI, respectively.
Notice
Regarding Forward-Looking Statements
Forward-Looking
Statements certain statements in this release that are not
historical facts are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements may be identified by the use of words such as
"anticipate," "believe," "expect," "future," "may," "will,"
"would," "should," "plan," "projected," "intend," and similar
expressions. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements. The Company's future operating results
are dependent upon many factors, including but not limited to the
Company's ability to: (i) obtain
sufficient capital or a strategic business arrangement to fund its
expansion plans; (ii) build the management and human resources and
infrastructure necessary to support the growth of its business;
(iii) competitive factors and developments beyond the Company's
control; and (iv) other risk factors. We assume no obligation to
update the information contained in this news
release.
Contact
Information:
Michael
Shamber
Hydro Power
Technologies, Inc.
888-993-0989
info@hydropowertechnologies.com
https://twitter.com/HydroPowerTech