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8-K - FORM 8-K - SOLLENSYS CORP. | sols_8k.htm |
Exhibit
99.1
Sollensys Corp. Announces Change of Control
'Management proceeds with business building upon existing data
platform'
Palm
Bay, Fla., August 11, 2020 (Issuer Direct) -- Sollensys Corp. (US OTC PINK:
SOLS)
Sollensys
Corp. (the “Company”) is pleased to announce that, on
August 5, 2020, Eagle Lake Laboratories, Inc. of Palm Bay Florida
(“Eagle Lake”), acquired a majority of the issued and
outstanding stock of Company. In connection with the transaction,
Donald Beavers, the sole shareholder of Eagle Lake, was named the
new Chief Executive Officer of the Company, and a director of the
Company, and the prior officer and director of the Company
resigned.
New
management will be steering the Company towards commercialization
of proprietary data platforms as they move away from touch screen
manufacturing. The Company expects to generate significant revenue
with its innovative flagship product, the Blockchain Archive
Server™
that can be utilized to protect client
data from ransomware. Blockchain technology is a leading-edge tool
for data security, providing an added layer of security against
data loss due to malware.
Mr. Beavers
stated "We are excited to bring new opportunities to this public
company for the benefit of its shareholders. Our core focus is on
affordable ready-to-use technology. We provide our data management
products to small and large businesses alike. Our blockchain
technology is a seamless integration into our client’s
existing data platforms.”
ABOUT SOLLENSYS CORP
Previously, Sollensys Corp, through its South
Korean subsidiary, designed and manufactured touch panel sensors
used in smartphones and computer touch products. New management has
taken control of the company with a focus on data management and
blockchain systems developed in the United States. (see:
www.sollensys.com
)
ABOUT EAGLE LAKE LABORATORIES, INC.
Eagle Lake
Laboratories, Inc is a Florida based science, technology, and
engineering solutions corporation offering products that ensures
their clients data integrity through collection, storage, and
transmission.
Forward Looking
Statements: Certain information
in this press release relating to the Company contains
forward-looking statements. All statements other than statements of
historical facts included herein are forward-looking statements. In
some cases, forward-looking statements can be identified by words
such as “believe,” “expect,”
“anticipate,” “plan,”
“potential,” “continue” or similar
expressions. Such forward-looking statements include risks and
uncertainties, and there are important factors that could cause
actual results to differ materially from those expressed or implied
by such forward-looking statements. Readers should not place any
undue reliance on forward-looking statements since they involve
known and unknown, uncertainties and other factors which are, in
some cases, beyond the Company’s control which could, and
likely will, materially affect actual results, levels of activity,
performance or achievements. Any forward-looking statement reflects
the Company’s current views with respect to future events and
is subject to these and other risks, uncertainties and assumptions
relating to operations, results of operations, growth strategy and
liquidity. The Company is under no obligation (and expressly
disclaim any such obligation) to publicly update or revise these
forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future.
Investor
Relations:
Sollensys
Corp.
866.438.7657
www.sollensys.com
info@sollensys.com