Item 8.01. Other Events [[Image Removed]]March 31, 2021 Letter to Shareholders
As this first quarter of 2021 comes to a conclusion and it's been over a year since the world has been negatively impacted by the Covid-19 pandemic, Management wants to take this moment to offer a brief update to our shareholders.
Our Company has been focused heavily in the retail industry; with retail stores,
a fashion group that sells to retailers and technology designed to make physical
stores appealing to consumers again. Our technology for example was designed
around interactive touch screens and mirrors to engage consumers. To demonstrate
that technology and sell our retail fashion products in
Then on
We have survived by squirreling cash, selling new products like face masks (which were designated as an essential business for manufacturing), and refocusing our technology on products that can still help smaller retailers. Our next technology won't require the consumer to touch anything. We have been developing what we think is a killer mobile app that will appeal to consumers, build up brands and generate huge growth. Due to the intense competition in the App space we are not at liberty to share more details until we launch in Beta.
Our management team strongly believes in what we can and will accomplish for
retailers and in which our shareholders can benefit from in the future. We
believe it was vitally important to make sure the Company survived this pandemic
shutdown and would be able to quickly restart our operations and transition our
technology to perform in the post pandemic world that is coming. There was and
is not enough capital to do everything, but our priorities stayed focused on our
operating companies. To limit the immediate cash burn, we were unable to fully
engage auditors and attorneys to maintain our
At this time some of our fashion factories are again producing goods and we have
once again begun shipping in volume! Our retail franchise stores should continue
their re-opening as air travel and tourism starts to increase. We have chosen
the team and begun development of our new cutting edge mobile App and we are
interviewing auditors to see when we can get our
I want to thank all of our loyal long suffering shareholders for their patience
and support throughout this period. I know it's been very difficult! And I want
to be clear that the purpose of this letter is not to advocate or induce any
reader to purchase, hold or sell our stock at this time! All of the necessary
disclosures that are in our
Sincerely, /s/ Angelo Ponzetta By:Angelo Ponzetta Its : Chief Executive Officer12 RETECH CORPORATION 515 E. Grant St , Suite 150,Phoenix, AZ 85004 Tel.: (530) 539-4329 e-mail: info@12ReTech.com website: 12ReTech.com
Safe Harbor: This document contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
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