Worldwide NFT, Inc. Announces Change of Control, Recapitalization
Rhea-AI Summary
Worldwide NFT (OTC: WNFTD; WNFT) announced a change of control and recapitalization. Jay Wright has acquired majority voting control from George Sharp, effective immediately. Wright brings extensive M&A, public-company and defense-technology experience.
The company completed a 1-for-10 reverse stock split on May 15, 2026. Approximately 94.35 million common shares and 5 million preferred shares are now outstanding, with no debt, and the stock will trade as WNFTD for about 20 business days.
AI-generated analysis. Not financial advice.
Positive
- Majority voting control acquired by Jay Wright, who has extensive M&A and public-company experience
- Post-recapitalization capital structure includes approximately 94.35 million common shares and 5 million preferred shares
- Company reports having no debt following the reverse stock split and recapitalization
Negative
- None.
MCLEAN, Va., May 19, 2026 (GLOBE NEWSWIRE) -- Worldwide NFT, Inc. (OTC: WNFTD; WNFT) announces that Jay Wright has acquired majority voting control of the company from George Sharp in a privately negotiated transaction, effective immediately.
Mr. Wright most recently was co-founder and Chief Strategy Officer of Castellum, Inc., a NYSE-American listed company focused on technology and defense. He started his career as a mergers and acquisitions attorney at Foley & Lardner and Skadden, Arps in the mid-1990s. He then worked on Wall Street as an investment banker at Merrill Lynch. He served as CFO of Nasdaq-listed Speedcom Wireless and CEO of publicly traded MobilePro Corp. He has also advised over thirty companies on M&A strategy and execution. At Castellum, he helped negotiate 7 defense-oriented acquisitions over a four-year period. Mr. Wright earned his undergraduate degree in finance from Georgetown University and his law degree from the University of Chicago.
“We plan to look for interesting, accretive acquisition opportunities,” said Mr. Wright. “As baby boomers continue to retire, we believe that the ability to execute an acquisition-driven growth strategy will continue to grow. Opportunities abound in areas such as software, managed services, artificial intelligence, robotics, UAVs, and onshoring of manufacturing. The goal is to build a large, successful, profitable public company which helps America, qualifies for listing on a major U.S. exchange, and builds significant shareholder value.”
Separately, the company also announces that it has recapitalized. Specifically, as published in FINRA’s Daily List on May 15, 2026, the company's common stock was reverse split on a 1-for-10 basis. As a result, approximately 94.35 million common shares and 5 million preferred shares are outstanding, with no debt. The stock is expected to trade under ticker WNFTD for approximately 20 business days (roughly a month, given the Memorial Day holiday) before reverting to WNFT.
Cautionary statement on Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Words such as “plan,” “goal,” “will,” “would,” “believe,” and “is expected,” and similar language are indicative of forward-looking statements. These forward-looking statements are subject to risks and uncertainties, many of which are outside of the company’s control, that could cause actual results to differ (sometimes materially) from the results expressed or implied in the forward-looking statements, including, among others, the company’s ability to find, finance, and close accretive acquisitions. Except as required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.
Contact: Rich Kaiser
YES INTERNATIONAL
757-306-6090
yes@yesinternational.com
