World Oil Group Inc. CEO, Claudio Aballay, Embarks on New Company Agenda with a Three-Step Success Plan
DEBARY, FL / ACCESSWIRE / November 13, 2018 / World Oil Group Inc (OTC PINK: WOGI ) CEO, Claudio Aballay, announced that the company is implementing a Three-Step Plan to forge the Company on a track to success.
The Company already has taken steps to enhance its public disclosure on OTC Markets by taking the Company current recently in its filing obligations. Corporately, World Oil Group Inc. has amended its Articles of Incorporation and Corporate Bylaws to create a series of Anti-Dilutive, Convertible Preferred Shares to protect its majority stakeholders. The objective, moving forward, is to start reorganizing the debt on the balance sheet, so the company becomes debt-free.
Next, World Oil Group Inc. plans to have its financial statements audited and file an SEC Form 10 to become an OTCQB® Venture Market company this year. The last part of the plan is to enhance the Net Stock Holders’ Equity in the Company by acquiring or joint-venturing with profitable business operations, and/or assets, using its Convertible Preferred Stock as currency. The company will be actively pursuing private companies in its targeted desirable areas.
World Oil Group Inc. CEO Aballay said, “This 3-Step Plan is necessary to attract investment and equity into our company. We will also restore investor confidence if we commit ourselves to remove affiliate and non-affiliate debt, become fully reporting with the SEC and file audited financial statements. We also need to build net stockholders’ equity on the balance sheet. This is a process we are committed to moving ahead with, and our resolve to complete those tasks is a function of effort, teamwork and time.”
He further stated, “We have a team of very qualified professionals to implement this strategy and our mandate, moving forward, while we add sound accounting and legal representation to make good on this Agenda. Additionally, World Oil Group Inc. will seek a more transparent dialogue with its investors, as to the clarity of implementing those objectives. As we meet certain milestones, the investment community will be more thoroughly aware through our disclosures and public records.”
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This press release may contain forward-looking statements, including information about management’s view of World Oil Group Inc.’s future expectations, plans, and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of World Oil Group Inc., its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on World Oil Group Inc.‘s’ future results. The forward-looking statements included in this press release are made only as of the date hereof. World Oil Group Inc. cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, World Oil Group Inc. undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by World Oil Group Inc...
SOURCE: World Oil Group Inc.