Tampa, FL - (NewMediaWire) - September 14, 2020 - Sports Venues of Florida, Inc., (OTCMKTS: BTHR) (“Sports Venues of Florida”, “BTHR”, or the “Company”), an emerging leader in the eSports, youth sports, and family sports entertainment markets, is pleased to provide shareholders with the results of operations for the year ended May 31, 2020. Highlights for the period included a cash payoff of $196,236 to a toxic convertible note holder, a $249,309 gain on debt forgiveness, a 24,000% increase in total assets, improved basic and diluted loss per share from ($0.06) per share to ($0.03) when compared to the period ended May 31, 2019. These are just a few of the giant improvements the Company has made in 2020 when compared to the same period in 2019.
Management knew in early 2019 if drastic measures were not taken the Company would fall to toxic convertible note holders from 2013 who had been waiting to pounce on the Company like ravenous jackals going after a dead animal that no other predator wanted. Management was determined to clean up old toxic debt and raise capital through a qualified Regulation A Tier One registration statement that would appeal to a higher class of investors. On January 13, 2020, the United States Securities and Exchange Commission qualified the Company’s registration statement. When its registration statement became qualified the Company’s stock price was a mere $0.03 with zero volume. Management knew to execute its plan it needed a financial partner who would support management through what was sure to be troubled waters. During the period from January 2019 until January 2020, management contacted 3,926 different funds, potential investors, high net worth individuals who were from all over the world. Rejections flowed faster than water over Niagara Falls. Management encountered frauds, scammers, imposters, and sharks all trying their best to feast on what remained on the bones of the Company. The more rejection Management got the more it strengthened their resolve. At the end of a yearlong exhausting search for the perfect financial partner, one emerged who made it possible for the Company to not only survive but thrive.
Today, the Company stock is trading nearly $0.11 with average daily volume of 118,550 shares per day. The toxic convertible notes from 2013 have either been paid off, reached negotiated settlements or have been written off due to the statute of limitations. Many of these notes met the standards needed to be classified as criminally usurious. The Company has replaced these old toxic notes with either cash sales of its regulation A common stock or with convertible notes that have straight conversions into common stock at $0.08 and most at $0.20 per share. The Company is executing its eSports business model with precision. In just a matter of a few short months, during a global pandemic, the Company has advanced operations beyond even management’s expectations. An announcement concerning when to expect revenues will be released by the Company on Wednesday, September 16, 2020.
Unlike other pink sheet or penny stocks that have hundreds of millions of shares issued and outstanding, the Company only has 67,050,271 at May 31, 2020. Only 9,635,005 of those shares are in the public float. At May 31, 2020 insiders owned approximately 49,793,496 restricted shares that are held in certificate form. Management owns approximately 74% of this Company and they are invested in continuing to build its success. No insider or affiliate stock is being sold, none is registered to be sold or will be sold privately or otherwise, period! This means thousands of shareholders own or control 17,256,775 shares are not competing with insiders or affiliates. When compared to other early revenue stage pink sheet Companies, Sports Venues of Florida, Inc., is positioned perfectly to explode in terms of expansion of its business model and it should experience continued improvement in its financial health for the foreseeable future. Management believes if potential investors clearly understood the progress this Company has made its stock price would reflect the tremendous potential this Company has.
John V. Whitman Jr., Founder/Chairman/President, said, “Just one year ago the Jackals who were expecting to feast on this Company discovered management was just playing dead. As tragic as Covid-19 and the global pandemic has been, it has positively impacted business models like our eSports model. Millions of eSports enthusiasts, gamers are stuck at home with nothing but time to build their skills on computer games that likeminded people can compete against each other globally from the comfort of their homes. Sports Venues of Florida’s subsidiary company, Shadow Gaming, Inc., has entered the eSports marketplace like a storm with enormously powerful disruptive force. It is my hope shareholders and potential shareholders will see the dedication and determination management has for this Company and reward us with an enhanced stock price and volume. I am determined to bring shareholders a Company that they can not only be proud of but will positively reflect one day and brag to their grandchildren they were invested in Sports Venues of Florida, Inc., at the very beginning.”
Sports Venues of Florida, Inc., is a development stage company engaged in the business of eSports, and the development of youth sports and family entertainment complexes. The Company, through its wholly owned subsidiary, Shadow Gaming, Inc., has aggressively entered the eSports market. The Company is looking for locations that would support an eSports mega indoor complex. In addition, the Company plans on operating several subsidiary companies from high tech data management businesses to product and support businesses.
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections as well as our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of Sports Venues of Florida, Inc.
For Additional Information Contact:
John V Whitman Jr.,