Renavotio, Inc.
Announces Filings Status and Shareholder
Updates
Tulsa, OK -- February 15, 2022 -- InvestorsHub
NewsWire -- Renavotio, Inc. (OTCQB:
RIII), ("Renavotio," or the "Company"), today announced that in
conjunction with its preparation of the SEC filings described
below, it has prepared the applications required to reapply to the
OTC Bulletin Board. The Company continues to provide its auditors
with all required information to complete its 2020 reaudit and
amended filings. Once the Company receives approval from its
auditors, Marcum LLP, the Company will file its amended 2021 Form
10Q's and 2020 10-K reaudit with the SEC and submit its completed
OTCQB re-application and Form 15c2-11 to be reviewed by the OTC
Markets and FINRA, respectively. Upon their approval and sign
off, the Company will begin trading on the OTC Bulletin Board
again.
Renavotio has accelerated the recondition of its
ditch witch trenching and boring machines and securing all
equipment and tools necessary to put an initial 4 fiber
installation crew to work with additional crews planned to be added
both organically and thru subcontracts. Utility Management &
Construction, LLC ("UMCCO") has begun to utilize the US Federal
Contractors Registration to prepare for the bidding process and
secure work for a second quarter launch, focusing on broadband
infrastructure. Initial deployment is planned in the Company's
operational footprint running from Eastern Missouri thru Southern
Kansas, and Northern Oklahoma. As additional opportunities arise
outside of these initial operating areas, the Company will reach
out to subcontractors to take advantage of future contract
opportunities. To lead this expansion and in conjunction with its
2022 operational plans, the Company has narrowed its search for a
Corporate Infrastructure Officer position who has marketing and
management experience in both Municipal, State and Federal
projects.
Chief Executive Officer Billy Robinson stated: "To
be placed in the position to reaudit our 2020 fiscal year, amend
our 2021 Forms 10-Q, and prepare our 2021 fiscal year audit, and
have new valuations and appraisals of all the Company's equipment
land and facilities, has been a time consuming and costly endeavor.
We are moving rapidly to complete all tasks and with approval from
our auditors, and to complete and file the 10Q's and 10K necessary
to be current and trading again on the OTC Bulletin Board."
Billy Robinson continued: "We continue to expand
UMCCO opportunities to potentially increase our managed water
districts over the next 24 months and create, acquire and
accumulate distinct assets, intellectual properties and exceptional
technologies that could produce solid potential revenues for our
valued shareholders and partners. The Company's current focus on
building and acquiring cash-flowing assets in discrete areas
provides us with an acknowledged technological advantage and
enables us to take advantage of a substantial market opportunity
within significant target markets across the Company's footprint."
Our research, and the technology we acquire are
anchored by our relationships with synergistic partners and
product-specific commercialization strategies. From the point of
product or technology conception, or through acquisition,
development and commercialization, we expect to have strategic
partners, joint ventures or licensing arrangements in place for
many of our products to potentially increase and sustain our
revenues.
"For Renavotio, we are well positioned to fuel our
organic growth initiatives, meeting the demand for our services as
resilient infrastructure projects are brought forward. We
appreciate the patience and understanding that our shareholders
have shown with the unfortunate position we have been placed in. We
are doing all we can to protect and increase shareholder value. We
have completed most of the time-consuming tasks and are close to
putting this unpleasant experience behind us and look forward to a
positive second quarter and a successful 2022." said William
"Billy" Robinson, Renavotio's CEO.
About Renavotio,
Inc.
Renavotio, Inc. (OTCQB:
RIII) focuses on three unique infrastructure opportunities,
including medical protective equipment, 5G, utility construction,
utility management, IoT, water, waste management technology, and
related industries.
The Company's wholly owned subsidiary, Renavotio
Infratech, Inc. ("RII"), includes business and acquisition
strategies concentrating on medical protective equipment and
infrastructure with utility construction and consulting/operational
agreements with small towns or county CO-OPS that operate their own
water and sewer systems, providing long-term savings, utilizing
smart-utility monitoring, and dedicated engineering and service
personnel. These platforms capture utility data from hand-held GPS
devices or in-place sensors, with planned use of drones to identify
waste contamination, leak detection, and topographic underground
utility installation planning. RII's wholly owned subsidiary,
Utility Management Corp, is a holding company focused on
infrastructure, 5G, utility construction, utility management, IoT,
water and waste management technology, and related industries.
Utility Management Corp's subsidiary, Utility
Management and Construction (UMCCO) is an engineering and smart
utility management company that provides a one-stop solution to
rural communities to reduce the consumption of electricity, data,
natural gas, and water utilities for commercial, industrial and
municipal end users. UMCCO's unique approach creates immediate
bottom-line savings for its clients, by providing engineering,
planning, permitting and installation through their second wholly
owned subsidiary, Cross-Bo Construction, which specializes in
water, sewer, Telcom, and 5G design and installation, establishing
a long-term value proposition while also achieving respective
sustainability goals. www.umcco.com.
For additional information on Renavotio, please
visit: www.renavotio.com
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at https://renavotio.com/contact/
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@Renavotio at http://twitter.com/Renavotio
Forward-Looking
Statement
This news release includes certain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. . Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors may cause the
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include general business, economic, competitive,
regulatory, markets and other conditions, political and social
uncertainties. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. No information in this news release
should be construed as any indication whatsoever of the Company's
future stock price, revenues, results of operations, and whether
the Company will be successful in its goals stated herein. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Investor
Contact:
Renavotio, Inc.
601 South Boulder Ave.
Suite 600 Tulsa, OK 74119
brobinson@renavotio.com
Telephone: 1-888-928-1312
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