Core Viewpoint - Branded Legacy, Inc. is undergoing a comprehensive restructuring and change of control following the acquisition of a controlling interest by Dr. Jamie Forrest, aimed at revitalizing the company and enhancing shareholder value [1][7]. Summary by Sections Restructuring and Control Change - Dr. Jamie Forrest, dissatisfied with the company's direction and financial condition, acquired the entire control block to initiate a complete overhaul [2]. - All legacy subsidiaries have been divested, removing underperforming and insolvent entities that burdened the company [3]. - Previous officers and directors have been removed, with no compensation or involvement in the company moving forward [4]. Financial Review and Liabilities - A full forensic accounting review is being conducted to address historical share issuances and related-party transactions, with plans to renegotiate or cancel any unfavorable agreements [5]. - The company expects to issue approximately 300 million shares for the conversion of certain pre-existing convertible instruments, with no new dilutive instruments planned [5]. Future Direction and Management - The restructuring aims to eliminate historical operational and financial burdens, creating a clean platform focused on future shareholder value [6]. - Dr. Forrest, with extensive experience in health technology and operational systems, is set to lead the company towards a new business plan devoid of past affiliations [8][9]. - The company will prioritize transparent communication, focusing on verifiable facts and completed milestones rather than speculative claims [11]. Compliance and Profile Update - The company plans to update its issuer profile on OTCMarkets.com to reflect the restructuring and remove the current Yield Sign from its ticker [12].
Branded Legacy, Inc. Announces Complete Management Overhaul and Strategic Reset Under New Leadership
Globenewswire·2025-12-10 14:17