Spin-off - Securetech Innovations, Inc.

Form Type: 10-K

Filing Date: 2025-03-31

Corporate Action: Spin-off

Type: Update

Accession Number: 000101738625000028

Filing Summary: SecureTech Innovations, Inc. has recently undergone significant corporate developments as outlined in their 10-K filing for the fiscal year ending December 31, 2024. The company has announced the appointment of J. Scott Sitra as President and CEO, replacing Kao Lee, who has transitioned to focus on the Top Kontrol product line. A notable strategic move is the completion of Phase 1 of a Share Reduction Program, resulting in the cancellation of 43,100,000 shares, which marks a 55% reduction in their total common shares outstanding. Furthermore, SecureTech is implementing a series of strategies for rapid growth, including a focus on mergers and acquisitions, reducing outstanding shares to around 17 million, and targeting an upgrade to the OTCQB listing as part of a plan to increase market visibility. Additionally, SecureTech intends to divest its Top Kontrol product line, which involves spinning it off as an independent OTCQB company while providing a special dividend to shareholders. The company is also exploring avenues to capitalize on its blockchain, cybersecurity, and Web3 innovations to foster further growth and enhance shareholder value.