Silver Scott Mines, Inc 3rd Quarter Update
Rhea-AI Summary
Silver Scott Mines, Inc. (OTC PINK:SILS) has provided a 3rd quarter update on its progress in transitioning into a diversified holding company. CEO Stuart Fine outlined plans to create four divisions: Silver Scott Digital Holdings, Silver Scott Health, Silver Scott Consumer Products, and Silver Scott Clean Technology. The company is actively engaged in negotiations for product licensing and business acquisitions, expected to close by year-end.
Silver Scott is also in the process of recruiting advisory board members and has identified an audit firm to prepare for becoming a fully reporting company with the SEC. Dr. Wesley Holland, Chairman of the Board, expressed support for the company's new direction under Fine's leadership. Shareholders are encouraged to visit the company website and sign up for email updates.
Positive
- Diversification strategy into healthcare, technology, and clean technology sectors
- Ongoing negotiations for product licensing and business acquisitions
- Plans to become a fully reporting company with the SEC
- Creation of four distinct divisions for simplified reporting and understanding
Negative
- No concrete financial figures or revenue projections provided
- Audit process and SEC reporting transition may take considerable time
News Market Reaction – SILS
On the day this news was published, SILS declined 9.20%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Company Continues to Make Progress
FRANKLIN, NJ / ACCESSWIRE / October 11, 2024 / Silver Scott Mines, Inc., (OTC PINK:SILS) - a diversifying holding company, is pleased to update shareholders on its progress of transitioning into a company with multiple divisions and operations.
Dear Shareholders,
Since starting to work for Silver Scott Mines, Inc in February, 2024, I have made it my mission to diversify the company away from solely crypto assets, tofocus the company on acquiring successful operating businesses therebycreating multiple revenues streams within the diversified healthcare, technology and clean technology business sectors.
As CEO, the number of opportunities that the Company is seeing has been overwhelming. To simplify reporting and make it easier for shareholders and interested financial parties to understand the company, I will be creating 4 divisions under the Silver Scott banner. Silver Scott Digital Holdings, Silver Scott Health, Silver Scott Consumer Products and Silver Scott Clean Technology. I have begun the process of recruiting advisory board members who will be providing key insights in their respective fields.
Over the last two months, we have been engaged in several negotiations for product licensing and business acquisitions. We anticipate these transactions will close before the end of this year. Additionally, we have identified an audit firmthatwill be working to have all the required audits prepared so we can file a Registration Statement with the SEC to become a fully reporting company. While the audits will take some time to complete, we will be working diligently to ensure that our financial reporting going forward is on a par with Exchange listed companies.
Dr. Wesley Holland, Chairman of the Board, stated "The Board and I wholeheartedly agree with the direction the Company is taking under the watchful eye of Stuart Fine. He has presented to us a significant level of opportunities that we expectwill all tie together and make Silver Scott into a revenue generating and profitable company in the future. We are excited to see what happens next."
Lastly, I would encourage all investors to visit our website www.silverscottmines.com and sign up for our email service in order to be kept apprised of our latest news releases. If you should have any questions, feel free to email investors@silverscottmines.com I look forward to having some positive news to report in the not too distant future.
Sincerely,
Stuart Fine
CEO
About Silver Scott Mines, Inc.
Silver Scott Mines, Inc. Is a holding company with several digital assets currently being held. The company is adding healthcare technology and health focused businesses with a focus on improving overall health or current health conditions. Our tagline is, Better Health Becomes You.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as expects, believes, anticipates, intends, estimates, seeks and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the businesses of Silver Scott Mines, are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements.
SOURCE: Silver Scott Mines Inc
View the original press release on accesswire.com