BOCA RATON, Fla., Feb. 12, 2020 (GLOBE NEWSWIRE) -- Cleartronic, Inc., (OTCPINK:CLRI) completed the process necessary to spin off its subsidiary, VoiceInterop, Inc. into an independent public reporting company. VoiceInterop filed an S-1 registration statement with the United States Securities and Exchange Commission and that registration statement was declared effective as of 4:00 pm November 14, 2019.
Larry Reid, President of VoiceInterop stated, “We believe that the spin-off will bring significant value to the Cleartronic shareholders, who will receive a dividend in the form of shares of common stock of VoiceInterop.” The record date for the Spin Off is November 20, 2019 and the distribution date is February 14, 2020.
No action or payment is required by Cleartronic shareholders to receive shares of VoiceInterop common stock. Shareholders who hold Cleartronic common stock, Series C preferred stock and Series D preferred stock on the record date will receive a book-entry account statement reflecting their ownership of VoiceInterop common stock or their brokerage account will be credited with the VoiceInterop shares. The “Prospectus,” which contains details regarding the distribution of the VoiceInterop’s common stock, the spin-off ratios and business and management following the spin-off is being mailed to Cleartronic shareholders.
There is currently no public market for VoiceInterop’s common stock. VoiceInterop intends to seek quotation of its shares on the Over-the-Counter Pink Sheets, there can be no assurance that we will be successful in doing so.
About Cleartronic, Inc.
Cleartronic, Inc., a diversified holding Company, creates and acquires operating subsidiaries with the goal of manufacturing and selling products, services, and integrated systems to government agencies, business enterprises and the general public. In addition to its ongoing research and development projects, Cleartronic currently has two operating subsidiaries, ReadyOp Communications, Inc. and VoiceInterop, Inc.- www.cleartronic.com, www.voiceinterop.com and www.readyop.com.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements because of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact and Inquiries for Investor Relations:
561-939-3300 Ext 143
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7fcf9d7-ef53-4a95-a2c3-32224fa580f6