Eventure Interactive Inc (OTCBB:EVTI) reported withdrawal of PRER14C Information Statement so as to potentially raise the amount of its common stock authorized share to two billion. Moreover, it terminated the Equity Purchase deal finalized with Aladdin Trading in November 2014. These measures will give more clarity of the company’s prevailing capital structure and support a longer-term financing plan in the coming period.
The management view
Michael Rountree, the CFO of Eventure, said that the board continues to evaluate all options to improve the overall capitalization structure. With the funding associates, the task has been completed best to work within the existing authorized amount for upcoming financings. The only focus is to provide shareholder value in long-term and obtain necessary financing. With recently taken measures, they believe that they are best positioned to meet short and longer-term goals.
Earlier in August, Eventure released an update to the implementation of its business strategy with highlights of imminent milestones to keep the investor community and shareholders informed. The company’s whole product offering is focused on promoting a controlled and intentional environment in which attendees can optimize individual event experience across smart cameras, mobile devices, and games to optimize event memories and local event participation. It is the main idea behind “Eventure Everywhere.”
The future ahead
Jason Harvey, the CEO of Eventure Interactive Inc (OTCBB:EVTI) said that they continue to focus on achieving internal operational objectives that compliment the implementation and accomplishment of business plan. As the customer climate continues to change, the product development team works on new features to develop a sharing and local gathering solution that best places company to capture market share. The company introduced a beta app in 2014 and has been collecting feedback from pilot users to encourage enhancements. Since then, they have achieved numerous operational milestones.
On Monday, the stock price of Eventure opened in green and was trading close to $0.00200 in early morning trade.