SOURCE BRK, Inc.
HENDERSON, Nevada, Nov. 8, 2019 /PRNewswire/ -- BRK, Inc. (the "Company") (OTC: BRKK) is happy to announce, in its efforts to continue with its ongoing turnaround process, that as of November 1, 2019, Mr. Michael Kovacocy joins BRK as Special Advisor on Strategic and Capital restructuring initiatives. Based out of Germany and with extensive contacts in BRK's global and Asian growth markets, he will report directly to Daniel Serruya, CEO of BRK, Inc. on a number of capital restructuring and growth initiatives. Mr. Kovacocy currently works as an advisor and capital markets specialist, and is a former, well-respected CNBC guest market analyst covering blue-chip telecoms.
Further to significant investor interest in potential monetary collections from BRK's legal actions, management will be actively exploring the creation of a separate legal entity which would allow shareholders to swap their BRK shares in exchange for shares in the new entity, which would have sole ownership and rights to the proceeds of current and future legal actions. As previously made public, BRK has been awarded a judgement of USD $2.4 Million and is now actively pursuing collection of that judgement. Daniel Serruya, CEO of BRK, commented, "Management envisions the launch of a new legal action, which is expected to be approximately USD $25 Million for damages suffered due to negligent actions and misappropriation of IP. Management thanks shareholders for their continued support as we continue to work towards creating a sustainable business and create shareholder value."
Concurrently to these developments, BRK is completing its regulatory requirements with OTC Markets for getting the Company compliant. Daniel Serruya commented further, "Management's goal is to have the stop sign removed from our symbol by the end of the month."
BRK Inc. (OTC PINK: BRKK), established in 2008, is owner of the Helmet Camera intellectual property (patents-pending) that make the RefCam possible. With the acquisition of the live broadcast helmet camera patent, BRK is poised to enter sports marketing in a big way. iSee Sports Inc. is a wholly owned subsidiary of BRK, Inc.
The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as "will," "anticipate," "believe," "plan," "estimate," "expect," "intend," "is targeting," "may," "should," ''poised,'' and other similar words or expressions. Forward-looking statements are made based upon management's current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on BRK Inc.'s website, http://www.brkincorporated.com does not constitute a part of this release.
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