PARK CITY, UT / ACCESSWIRE / July 18, 2024 / NRP Stone, Inc. (OTC PINK:NRPI), a leading innovator in space technology through its subsidiary Uplift Aerospace, Inc., today announced significant updates to its corporate structure following recent shareholder approval.
CEO Incentive Rights Plan Amendment
On June 30, 2024, a Special Meeting of Shareholders approved amendments to the incentive rights plan for the Company's CEO, Joshua T. Hanes. The previous CEO Incentive Rights Plan for the Company's CEO, dated August 8, 2023 were voided. These new amendments align Mr. Hanes' compensation with the Company's revenue and market value milestones, ensuring his incentives are directly tied to the Company's performance. Notably, Mr. Hanes abstained from the vote to ensure an unbiased decision-making process.
Key amendments to Mr. Hanes' incentive rights include:
Initial Award: 25,000,000 shares of NRP Stone's common stock awarded to Mr. Hanes.
Revenue Milestone: A one-time bonus of $150,000 if the Company achieves annual revenue of $2,500,000.
Market Value Milestone: A one-time bonus of 10,000,000 shares of the Company's common stock if annual revenue reaches $18,000,000 and market value hits $500,000,000.
Growth Incentive: A one-time bonus of 35,000,000 shares of the Company's common stock if annual revenue reaches $35,000,000 and market value hits $1,000,000,000.
Significant Growth Incentive: An additional one-time bonus of 35,000,000 shares of the Company's common stock if annual revenue reaches $70,000,000 and market value hits $2,000,000,000.
These amendments were approved by the Board of Directors and a majority of shareholders, and have been officially recorded with the Nevada Secretary of State.
New Board Member Appointment & Board Committees
Moreover, effective June 30, 2023, the Board of Directors and shareholders unanimously voted for the addition of a new board of directors member Mark McLaughlin, Sr. Notably, Mr. McLaughlin abstained from the board of directors appointment vote. Additionally, the Board of Directors and shareholders unanimously approved the following committees for the benefit of all shareowners.
Audit
Compensation
Board Nominating
All of the above matters were approved by the Board of Directors and a majority of Shareholders. Moreover, these actions have not resulted in any Change in Control of the Company, nor any increase in the authorized common shares of the Company. The Company has authorized counsel to take such efforts as are necessary to effectuate the change, and the change has been effectuated, with the Nevada Secretary of State.
In addition to joining the Board of Directors, in a non-related private transaction, Mr. McLaughlin purchased twenty million (20,000,000) of the company's Common Series B shares directly from Mr. Hanes.
About Mark McLaughlin, Sr.
Mr. Mark McLaughlin, Sr. has served as an Advisor to Uplift Aerospace's President since 2021 and is a member of the Board of Directors. He brings significant expertise in raising capital, marketing, and corporate development.
Since 2018, Mr. McLaughlin has been the CEO of Immudyne Nutritional, an FDA-registered facility that manufactures clinically tested proprietary yeast beta glucan for immune support and additionally manufactures custom-formulated gummies. From 2011 to 2018, he was the President and CEO of Immudyne, Inc. (now Life MD), where he played an integral role in SEC filings and in successfully pursuing the prosecution of several intellectual property matters. Since 1994, he has also been the President of McLaughlin International, Inc., a management consulting firm.
The Board of Directors values Mr. McLaughlin's leadership and extensive knowledge for our future growth. He is a graduate of The College of the Holy Cross.
About Uplift Aerospace:
Uplift Aerospace (Symbol:NRPI) provides comprehensive space mission solutions, including astronaut training (both in-person and VR), mission design, and access to suborbital and orbital flights.
Over the past two years, Uplift Aerospace has secured agreements with NASA, Blue Origin, Orbital Reef Space Station, University of Arizona, University of Wisconsin, and the University of Central Florida. The ultimate objective of the Company is to run its businesses in order to create shareholder value, while exercising sound corporate governance to ensure the interests of the Company's management and shareholders are completely aligned.
MEDIA CONTACT: [email protected]
For the latest updates, visit upliftaerospace.com and follow @upliftaerospace on Facebook, Instagram, and Twitter.
Disclosures and Caution Concerning Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, economic and market factors, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company, its management, or affiliates, undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: NRP Stone, Inc.