AZURE HOLDING GROUP CANCELS 15.6 Million Restricted Shares Out of 55.5 Million Outstanding Shares Issued, Resulting in 28% Total Shares Outstanding Reduction
Azure Holding Group (OTCID:AZRH) has announced the cancellation of 15.6 million restricted shares from its total of 55.525 million outstanding shares, resulting in a 28% reduction in total shares outstanding. The new share count will be 39.925 million common shares.
The share cancellation follows the discontinued operations and sale of Freedom Well Testing back to its original owner, Eric Kuritz. The company cited vendor obligations, legal issues, and Trump's Tariffs as factors leading to this decision. Azure is now focusing on becoming a Later Life Operator in West Texas, with current production of 120-135 barrels of oil per day and plans to reach 1,000 barrels per day.
The company aims to create 40 new jobs in 2026 and expand to 200 jobs by 2027 in the Lubbock, Levelland, and Whiteface, Texas areas.
Azure Holding Group (OTCID:AZRH) ha annunciato l'annullamento di 15,6 milioni di azioni vincolate su un totale di 55,525 milioni di azioni in circolazione, pari a una riduzione del 28% del capitale sociale. Il nuovo totale sarà di 39,925 milioni di azioni ordinarie.
La cancellazione segue la cessazione delle operazioni e la vendita di Freedom Well Testing al proprietario originario, Eric Kuritz. La società ha indicato obblighi verso fornitori, questioni legali e i dazi di Trump come motivi della decisione. Azure si concentra ora sul ruolo di operatore nel segmento Later Life nel West Texas, con una produzione attuale di 120-135 barili di petrolio al giorno e l’obiettivo di raggiungere i 1.000 barili al giorno.
La società prevede di creare 40 nuovi posti di lavoro nel 2026 e di espandere a 200 posti entro il 2027 nelle aree di Lubbock, Levelland e Whiteface, Texas.
Azure Holding Group (OTCID:AZRH) anunció la cancelación de 15,6 millones de acciones restringidas de un total de 55,525 millones en circulación, lo que supone una reducción del 28% del capital en circulación. El nuevo recuento será de 39,925 millones de acciones ordinarias.
La cancelación se produce tras la suspensión de operaciones y la venta de Freedom Well Testing de vuelta a su propietario original, Eric Kuritz. La compañía citó obligaciones con proveedores, problemas legales y los aranceles de Trump como factores que motivaron la decisión. Azure se está enfocando ahora en operar en el segmento Later Life en el oeste de Texas, con una producción actual de 120-135 barriles de petróleo por día y planes de alcanzar 1.000 barriles por día.
La empresa tiene como objetivo crear 40 nuevos puestos de trabajo en 2026 y expandirse a 200 empleos para 2027 en las zonas de Lubbock, Levelland y Whiteface, Texas.
Azure Holding Group (OTCID:AZRH)는 총 55.525백만 주 중 1,560만 주의 제한주를 취소하여 유통 주식 수를 28% 줄였다고 발표했습니다. 새로운 보통주 수는 39.925백만 주가 됩니다.
해당 주식 취소는 Freedom Well Testing의 영업 중단 및 원 소유주인 Eric Kuritz에게의 매각에 따른 것입니다. 회사는 공급업체 의무, 법적 문제 및 트럼프의 관세를 이러한 결정의 원인으로 언급했습니다. Azure는 현재 웨스트 텍사스에서 Later Life 운영자로 전환하는 데 주력하고 있으며, 현재 생산량은 일일 120–135배럴이고 일일 1,000배럴 목표를 세웠습니다.
회사는 2026년에 40개의 신규 일자리를 창출하고 2027년까지 Lubbock, Levelland 및 Whiteface(텍사스) 지역에서 200개의 일자리로 확장할 계획입니다.
Azure Holding Group (OTCID:AZRH) a annoncé l'annulation de 15,6 millions d'actions restreintes sur un total de 55,525 millions d'actions en circulation, entraînant une réduction de 28% du nombre d'actions. Le nouveau total sera de 39,925 millions d'actions ordinaires.
Cette annulation fait suite à l'arrêt des activités et à la cession de Freedom Well Testing à son propriétaire d'origine, Eric Kuritz. La société a cité des obligations envers des fournisseurs, des problèmes juridiques et les tarifs de Trump comme facteurs ayant conduit à cette décision. Azure se concentre désormais sur son positionnement en tant qu'opérateur Later Life dans l'ouest du Texas, avec une production actuelle de 120–135 barils de pétrole par jour et l'objectif d'atteindre 1 000 barils par jour.
La société vise à créer 40 nouveaux emplois en 2026 et à s'étendre à 200 emplois d'ici 2027 dans les zones de Lubbock, Levelland et Whiteface, au Texas.
Azure Holding Group (OTCID:AZRH) hat die Streichung von 15,6 Millionen eingeschränkten Aktien aus den insgesamt 55,525 Millionen ausstehenden Aktien bekannt gegeben, was einer Reduzierung des Streubesitzes um 28% entspricht. Die neue Anzahl wird 39,925 Millionen Stammaktien betragen.
Die Aktienstreichung erfolgt nach der Einstellung der Geschäfte und dem Verkauf von Freedom Well Testing zurück an den ursprünglichen Eigentümer Eric Kuritz. Das Unternehmen nannte Verpflichtungen gegenüber Lieferanten, rechtliche Probleme und Trumps Zölle als Gründe für den Schritt. Azure konzentriert sich nun darauf, als Later Life Operator in West-Texas tätig zu werden, mit einer derzeitigen Produktion von 120–135 Barrel Öl pro Tag und dem Ziel, 1.000 Barrel pro Tag zu erreichen.
Das Unternehmen plant, 40 neue Arbeitsplätze im Jahr 2026 zu schaffen und bis 2027 in den Regionen Lubbock, Levelland und Whiteface, Texas, auf 200 Arbeitsplätze zu erweitern.
- 28% reduction in total shares outstanding, improving shareholder value
- Current stable production of 120-135 barrels of oil per day
- Clear growth path targeting 1,000 barrels per day production
- Strategic focus on Secondary and Tertiary Enhanced Oil Recovery in West Texas
- Plans to create 200 local jobs by 2027
- Discontinued operations and sale of Freedom Well Testing due to business challenges
- Unresolved vendor obligations and legal issues at Freedom Well Testing
- Negative impact from Trump's Tariffs on operations
AZURE HOLDING GROUP CANCELS 15.6 Million Restricted Shares out of 55.525 Million Outstanding Shares Issued, Resulting in
LUBBOCK, TX / ACCESS Newswire / September 5, 2025 / Azure Holding Group (OTCID:$AZRH) announed this morning that it will be canceling 15.6 Million outstanding restricted shares of it's current 55.525 Million shares outstanding, constituting a
The cancellation is a result of the Discontinued Operations and sale back of Freedom Well Testing to it's original owner, Eric Kuritz.
"We will always put our shareholders and the value that we create for them first. Business conditions at Freedom Well Testing were different, and when things took an unexpected turn as a result of outstanding Vendor obligations and the legal ramifications which we disclosed in our footnotes in combination with Trump's Tariffs, it put the company in an unrecoverable position. As sad as this was, it allowed us to accelerate our Long Term goals of becoming a Later Life Operator in West Texas, focusing on Secondary and Teriatary Enhanced Oil Recovery initiatives with an appetite to Explore and Exploit the Deep rights of our Acreage Position. I couldn't be more proud of our team, and our agility to prevail when times got tough for us there. I can proudly say that we not only made it out of the mud, but we've got an asset base that allows us to form an annuitized business model, as we stabilize our production at 120 to 135 Barrels of Oil per Day, while maintaining an outlook and clear path to be producing 1,000 barrels per day. I am grateful for our team, I am grateful for the Oil & Gas community, I am grateful for all of our partners and for the city of Lubbock, TEXAS and the towns of Levelland, TEXAS and Whiteface, TEXAS for not only welcoming us, but embracing us with open arms. Our goal for 2026 is to create 40 new jobs for the area, with an ultimate goal of creating 200 jobs by 2027," said CEO of Azure Holding Group Josh Cohen.
For further information, please visit the companies website at www.oilfieldservices.ai or reach out to Josh Cohen at (917) 584-7042 or by email at jcohen@visionoilandgas.com.
About Azure Holding Group
Azure Holding Group Corp. is an acquisition corporation focused on Oil Field Services, Oil Field Construction, and Oil & Gas Exploration & Production. The Company is currently evaluating further mergers and acquisitions, outside of it's capital program to enable organic growth.
SOURCE: Azure Holding Group Corp.
View the original press release on ACCESS Newswire
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