USA Performance Products, Inc. announces plans for
JUPITER, Fla., Jan. 26, 2022 (GLOBE NEWSWIRE) — Today, USA Performance Products, Inc. (OTC/BB:UPRM) announced plans to reorganize with plans to implement a “USA First”. This comes after Mason C. Turner (the new Chairman and President of USA Performance Products, Inc.) presented a plan on behalf of United States Capital Group, Inc. to get the company up and running and generating revenue with a cash injection limited.
While these plans are still being finalized, Mr. Turner has begun to assemble a new leadership team to implement and execute this plan. Mr. Turner is currently Chairman and President of MCT Wireless, Corp., a company specializing in public safety and government communications solutions, and United States Capital Group, Inc., a company that currently manages investments and Mr. Turner’s financial strategies.
A meeting of the board of directors was held by the last remaining member(s) and Mr Turner was appointed interim chairman of the company until the next meeting of shareholders, with operational amendments to the articles of association reducing the number of board members and digital delivery of notices to shareholders. . Turner said the company will send physical notices until every effort is made to update shareholders’ digital delivery preferences with the company’s transfer agent (United States Capital Group, Inc. ).
United States Capital Group, Inc. has agreed to assist in the company’s reorganization and act as the company’s transfer agent in exchange for minority stakes in the company.
This includes adopting a “USA First” business model. A business model that aims to manufacture and produce goods in the United States of America, including software development. USA Performance Products, Inc. also retains the potential option to manufacture hardware for MCT Wireless. With MCT Wireless having domestic hardware manufacturing requirements to maintain their product security and meet Department of Homeland Security requirements, there are mutual incentives for the two companies.
Although the total capital expenditure required for this plan has not been disclosed at this time, United States Capital Group, Inc. estimates it to be between $3 million and $5 million.
The company has since launched a new website: www.USAPerf.com and will post shareholder notices and updates and seek shareholder feedback.
USA Performance Products, Inc.
Image 1: UPRM Logo
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