$CYCA Cytta Corp Plans to Spin-Off Subsidiary to F
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Posted On: 07/05/2022 12:06:11 PM
$CYCA Cytta Corp Plans to Spin-Off Subsidiary to Focus on Semiconductor Chip Design and Market Based on its Supr Technology
THE CYTTA-OWNED SHARES WOULD BE DISTRIBUTED TO THE CYTTA CORP SHAREHOLDERS OF RECORD AS OF A DATE TO BE ANNOUNCED LATER THIS YEAR.
LAS VEGAS, NV / ACCESSWIRE / June 21, 2022 /Cytta Corp (OTCQB:CYCA)( the "Company"
today announced the plan to create a subsidiary, Reticulate Micro ("Reticulate" , to focus exclusively on developing chipset solutions for multi-market adoptions based on Cytta's proprietary SUPR ISR (Intelligence, Surveillance, and Reconnaissance) system that delivers real-time compression of video streams for surface, airborne, and underwater ISR applications, including environments where video streams are transmitted beyond line-of-sight. This plan aims to accelerate the development of technology and market potential. Placing the SUPR video compression on an Application Specific Integrated Circuit (ASIC chip), the size of the head of a ballpoint pen, should allow for this technology to be incorporated in virtually every device that utilizes video. Imagine live streaming 4k or 8k video with limited bandwidth and experience minimal, if any, latency. The plan is to capitalize this entity and direct list to Nasdaq.
Michael Collins, Cytta's chief architect, will serve as its interim President and CTO. Michael Collins stated, "We believe this strategy will enable us to pull together and incentivize a world-class team with the requisite domain experience and successful track records."
All the Reticulate Micro shares owned by Cytta would first need to be registered in a registration statement filed with and subsequently declared effective by the SEC, which shares could then be distributed to the Cytta shareholders of record as of a date to be announced later this year.
Gary Campbell, CEO of Cytta stated, "This should enable us to sufficiently capitalize this opportunity without diluting our current shareholders. Plus, we expect the value of Nasdaq shares as a pari passu dividend to be quite worthwhile-the larger a shareholder's position, the greater the dividend. Negotiations with a lead investment banker for a direct Nasdaq listing are progressing."
https://finance.yahoo.com/news/cytta-corp-pla...00670.html
THE CYTTA-OWNED SHARES WOULD BE DISTRIBUTED TO THE CYTTA CORP SHAREHOLDERS OF RECORD AS OF A DATE TO BE ANNOUNCED LATER THIS YEAR.
LAS VEGAS, NV / ACCESSWIRE / June 21, 2022 /Cytta Corp (OTCQB:CYCA)( the "Company"
today announced the plan to create a subsidiary, Reticulate Micro ("Reticulate" , to focus exclusively on developing chipset solutions for multi-market adoptions based on Cytta's proprietary SUPR ISR (Intelligence, Surveillance, and Reconnaissance) system that delivers real-time compression of video streams for surface, airborne, and underwater ISR applications, including environments where video streams are transmitted beyond line-of-sight. This plan aims to accelerate the development of technology and market potential. Placing the SUPR video compression on an Application Specific Integrated Circuit (ASIC chip), the size of the head of a ballpoint pen, should allow for this technology to be incorporated in virtually every device that utilizes video. Imagine live streaming 4k or 8k video with limited bandwidth and experience minimal, if any, latency. The plan is to capitalize this entity and direct list to Nasdaq. Michael Collins, Cytta's chief architect, will serve as its interim President and CTO. Michael Collins stated, "We believe this strategy will enable us to pull together and incentivize a world-class team with the requisite domain experience and successful track records."
All the Reticulate Micro shares owned by Cytta would first need to be registered in a registration statement filed with and subsequently declared effective by the SEC, which shares could then be distributed to the Cytta shareholders of record as of a date to be announced later this year.
Gary Campbell, CEO of Cytta stated, "This should enable us to sufficiently capitalize this opportunity without diluting our current shareholders. Plus, we expect the value of Nasdaq shares as a pari passu dividend to be quite worthwhile-the larger a shareholder's position, the greater the dividend. Negotiations with a lead investment banker for a direct Nasdaq listing are progressing."
https://finance.yahoo.com/news/cytta-corp-pla...00670.html
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