Flitways Technology, Ongoing and Future Plans
Flitways Technology Inc. (FTWS) (OTCMKTS:FTWS)
WEST PALM BEACH,, FL, USA, November 14, 2018 /EINPresswire.com/ — Shareholder Address FlitWays Technology Inc. (OTC Pink: FTWS)
FlitWays Technology Inc. (OTC Pink: FTWS), Interim management is providing this update to its followers, and shareholders regarding many FAQ type questions and FTWS future plans moving forward.
The Company filed an 8K on or about October 15, 2018 https://www.otcmarkets.com/filing/html?id=13008751&guid=zrjMUaTjXSN8s3h That filing explains the current issues the Company is experiencing due to certain sabotage of operations with its ex CEO Tobi Mac Aro.
Shortly, FTWS will file a Q3 and an amended 8k. The amended 8k as per the SEC request and this news release cautions the company followers not to rely upon any of the 2018 financials furnished by the previous Management. Since the software, accounting, and business interruptions or deliberate sabotage stage of Mr Tobi Mac Aro the unique visitors to FLIT has fallen drastically. Currently, we have a team of outside (3rd party) IT professionals from both Germany and India attempting to restore the software and the back office to enable us to resume full operations. In addition to the 2 aforementioned required filings the Company will file an equity stakeholder or a Regulation D filing for the capital infusion received from Emry Capital for the rebuilding or restoration of operations.
Interim management, Daniel Sobolewski said "We remain committed to restoring FLIT operations and bringing the Company back to a fully operational status. We are working to figure out the bankruptcy process, and how this would affect our shareholders. Moving forward, regardless if the IT team can restore the software or not, according to our advisor's Chapter 11 is the less harmful way for the Company to proceed in an ongoing restructuring. Down the road, out of this restructuring and cleaning up the Company will be ready to continue the same operations, to acquire new opportunities and to expand into new markets. At this point we are not ruling out a change of industry or a new direction for the Company post Chapter 11 or otherwise.
Lastly many shareholders are inquiring about Mr. Mac's involvement with FLIT. His involvement moving forward is nil. Regarding rumors of the Karhoo and RCI Banks,(Renault Nissan Alliance), there is none with FLIT that we the interim management are aware of. The interim management strives to remain transparent with its shareholders and the Securities Exchange Commission in order to restore much eroded values and restore the Company operations to some meaningful level."
More updates will follow in a timely fashion.
About the company:
The Company is currently in a restructuring mode due to certain operational events. The reader should read the SEC filings to learn more. FlitWays was a fully integrated with major travel management systems, car dispatch, and global distribution systems worldwide. As a part of the Enterprise Booking Suite, FlitWays was to implement new features, functionalities, and processes to alleviate the burden on corporations scheduling ground transportation.
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Source: EIN Presswire