Company to Pivot into Automotive and Energy Sectors
SANTA MONICA, CA, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Wanderport Corporation (OTC: WDRP), a holding company formerly specializing in blockchain, digital asset and metaverse, is pleased to provide a business update including the cancellation of common shares and pivot into the automotive and energy sectors.
Share Cancellation
As part of management’s commitment to strengthen its position for growth, the Company had reached an agreement to secure and cancel an additional 10M shares of its Common stock, bringing the total shares to be cancelled to 30M. This is in addition to over 54M shares cancelled in 2021.
Management is open to further negotiation for share cancellation if necessary to support its future expansion efforts.
Automotive Sector
The Company has taken initial steps to enter the automotive sector. Its goal is to be an active participant in the burgeoning electric vehicle (EV) space via manufacturing and distribution of components as well as EV related services. The Company plans to accomplish this endeavor through partnerships and creating an equity portfolio of established companies that are currently serving this industry.
Energy Sector
Wanderport is formulating plans to enter the green energy sector. Its main focus will be in the areas of clean renewable energy as well as products to serve the EV market such as charging equipment or stations.
There has been a strong global push for electric vehicles and clean energy. Recent development in the United States includes a new $5 billion infrastructure bill that will allow every state in the US, District of Columbia and Puerto Rico to have access to federal funds for charging infrastructure projects.
The Company plans to participate in this sector with related products and services for the residential and commercial usage.
Manufacturing
Due to economic and geopolitical factors, there has been a sizable amount of corporations establishing manufacturing capability in Vietnam. This presents huge growth opportunities for the manufacturing sector and supply chain there. Aside from exporting, many of the products manufactured in Vietnam can also be sold to the fast growing local consumer base.
The Company plans to capitalize on this growth trend through mergers and acquisitions, particularly as they are related to electric vehicles and consumer goods.
Divestiture
The Company has been gradually divesting its current businesses to focus on the new direction. The health coffee line will be discontinued once inventory has been depleted. All blockchain related assets have been assigned to UA Multimedia, Inc. The Company will continue to collaborate with UA on future technical projects.
Mergers and Acquisitions
Management believes that a sound path to growth is via accretive mergers and acquisitions. For the near-term, the Company plans to leverage its publicly traded status to build an equity portfolio of companies serving the automotive, energy and manufacturing sectors.
Uplisting
Management has set a goal to uplist to a fully reporting company as soon as practicable. This will enable Wanderport to access larger investors or institutions which the Company needs in order to support its long-term growth plans.
The Company will proceed to return its status to current with OTC Markets. There was no material change in its operations, share and debt issuance since the last filing.
“Wanderport is firmly committed to creating shareholder values,” commented Miki Takeuchi, CEO. “After seeing the growth opportunities in our current busines model diminished, we pivoted to the areas of automotive, energy and manufacturing which we believe have strong growth potential for the foreseeable future. We have made a few initial steps into these new ventures and plan to provide additional details soon.”
About Wanderport Corporation
Wanderport Corporation is a holding company formerly specializing in blockchain, digital asset and metaverse. The Company’s new focus will be in the areas of automotive, electric vehicles, energy and manufacturing.
For more information, please visit https://wanderportcorp.com.
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Forward Looking Statements:
Statements made herein constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company’s stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management’s plans and objectives for future operations. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect current judgment regarding the direction of the business operations of Wanderport Corporation, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this press release.
Contact:
Wanderport Corporation
www.wanderportcorp.com
Investor Relations:
Miki Takeuchi
ir@wanderportcorp.com
(310) 526-8720
