DALLAS , Nov. 3, 2020 /PRNewswire/ -- ERF Wireless, Inc. (OTC PINK: ERFB) The Board of Directors (the "Board") today approved for the management to take appropriate action to effect a name change of ERF Wireless, Inc. to Zona Holdings, Inc. ("Zona") to more accurately reflect its current business platform in the public domain. Additionally, the Board has authorized management to begin the necessary steps to effect a reverse split of its common stock in a ratio of up to 10,000 to 1 with a record date being set for December 1, 2020 for the reverse split. The final amount of the reverse split will be predicated on the current market price of the ERF Wireless, Inc. common stock at the time of the proposed reverse. The name change, and reverse split actions, are likewise, subject to final Board approval and formal processing by the Financial Industry Regulatory Authority ("FINRA").
About ERF Wireless, Inc.:
ERF Wireless, Inc. ( www.erfwireless.com ), founded in 2004 as a "Critical Communications Infrastructure Company", has long been associated with the energy sector by and through its provision of wireless internet and other services in the exploration, drilling, and production phases of oil and gas. All financials associated with the wholly-owned Zona Resources, Inc. oil and gas operations will be consolidated into the public ERF Wireless, Inc. holding company financials and would be expected be reflected in its common stock valuation for its public stockholders.
Forward Looking Statements:
This press release contains forward-looking statements that involve numerous risks and uncertainties. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "potential," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with OTC Markets.
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SOURCE ERF Wireless, Inc.