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American Fusion Inc. (OTC: AMFN), Obtains Court Order Cancelling 1.683 Billion Shares, Eliminating More Than Half of All Outstanding Common Stock
Globenewswire· 2026-03-30 12:00
Core Viewpoint - American Fusion Inc. has successfully obtained a default judgment to cancel 1,683,000,000 improperly issued shares, restoring the integrity of its capitalization structure and preparing for its inaugural quarterly filing as a fully reporting company [1][2]. Group 1: Share Cancellation and Corporate Actions - The court ordered the cancellation of 1.683 billion shares that were improperly issued, confirming that the underlying transactions were never consummated [1][5]. - The cancellation is expected to be reflected in the Company's records before the end of the current quarter, ensuring accurate reporting of issued and outstanding shares [5]. - The completion of this share cancellation is part of a series of corporate governance and regulatory milestones aimed at establishing a transparent public company platform [3]. Group 2: Strategic Priorities and Future Plans - Following the completion of the share cancellation, the Company is focused on pursuing a listing on a national securities exchange and advancing the commercialization of Kepler Fusion Technologies' Texatron aneutronic fusion platform [3]. - The Company has completed a two-year PCAOB audit, establishing a foundation for financial reporting and regulatory compliance [5]. - The Company has filed a Form 10 registration statement with the SEC, which is expected to become effective automatically 60 days after filing [5]. Group 3: Corporate Identity and Structure - The Company has changed its name to American Fusion Inc. and its trading symbol to AMFN, aligning its public identity with its strategic direction following the merger with Kepler Fusion Technologies [5]. - The business combination with Kepler Fusion Technologies was completed on February 27, 2026, and the Company is finalizing purchase price accounting and related valuation analysis [5]. Group 4: Related Legal Matters - In related litigation, the Delaware Court of Chancery denied motions for expedited proceedings regarding corporate control claims, determining that the plaintiff failed to establish a valid claim [6]. - The Company intends to file a motion to dismiss in response to the ongoing legal matters [7].
American Fusion Inc. (OTC: AMFN) Engages in Industry Technical and Energy Infrastructure Events
Globenewswire· 2026-03-24 12:00
Core Viewpoint - American Fusion Inc. is actively engaging in industry events to enhance its presence in the fusion energy sector and to foster relationships within the energy and infrastructure ecosystem [7][8]. Group 1: Industry Engagements - Fabrice David is representing American Fusion at the 17th International Workshop on Anomalies in Hydrogen Loaded Metals (IWAHLM-17) from March 24 to March 26, 2026, in Bergamo, Italy [2]. - The workshop focuses on hydrogen-metal systems, providing a platform for sharing technical insights and experimental data related to anomalous thermal and material behaviors [3][4]. - Four members of the executive team are attending the Applied Power Electronics Conference (APEC) from March 22 to March 26, 2026, in San Antonio, Texas, which emphasizes next-generation energy technologies and high-efficiency power systems [5][6]. Group 2: Company Overview - American Fusion Inc. is focused on the development and commercialization of fusion energy technologies through its subsidiary, Kepler Fusion Technologies, following a merger that rebranded the company [8]. - The company's strategy aims to build a scalable, infrastructure-grade fusion energy platform supported by proprietary technology and disciplined intellectual property development [8][9]. - Kepler Fusion Technologies is developing the Texatron™ aneutronic fusion platform, designed for modular deployment in industrial, commercial, and grid-constrained applications [9][10].
Renewal Fuels, Inc. (OTC: RNWF), Operating as American Fusion, Provides Update on Washington State Legal Matters
Prism Media Wire· 2026-02-27 01:02
Core Viewpoint - Renewal Fuels, Inc. (OTC: RNWF), operating as American Fusion, provides an update on its legal matters in Washington State, specifically regarding a civil action in King County Superior Court [1]. Legal Proceedings - The Court dismissed all claims against Justin Costello, leading to the striking of his Emergency Motion for Stay of All Proceedings [2]. - The Company's Motion for Entry of Default Judgment against remaining corporate defendants was also struck on procedural grounds related to citation formatting [2][4]. - Defaults against the corporate defendants remain in place, and the Court did not question service, default, rescission, or the evidentiary record [4]. Company Actions - The underlying action seeks rescission of two 2021 asset purchase agreements and cancellation of approximately 1,683,000,000 shares issued in connection with those transactions, which the Company claims were issued without consideration [5]. - The Company is in the process of refiling a corrected motion to comply with the Court's procedural directives, which is seen as the last material item needed to effect the corporate action with FINRA for a name change and voluntary symbol change [6]. Company Overview - Renewal Fuels, Inc. is focused on developing and commercializing fusion energy technologies through its subsidiary, Kepler Fusion Technologies, and is in the process of changing its legal name to American Fusion Inc. [7]. - Kepler Fusion Technologies is developing the Texatron™ aneutronic fusion platform, emphasizing modular, infrastructure-grade deployment for various applications [8].