LAFAYETTE, LA / ACCESSWIRE / December 3, 2018 / NuLife Sciences, Inc. (OTC PINK: NULFD) announced today that it has received authorization to change its name to Gulf West Security Network, Inc.
Correspondingly, the Company has also applied to change its stock symbol to “GWSN.” Final approval of that action is still pending, and will not be implemented until after the Company’s reverse stock split. Until then, the Company will trade under the ticker symbol “NULF-D,” with the “D” to be removed 20 business days after the enactment of the reverse.
Corporate Actions:
According to Louis J. Resweber, the Company’s Board of Directors had originally applied to the Financial Industry Regulatory Authority (“FINRA”) and the U.S. Securities & Exchange Commission (“SEC”) for authorization to execute its planned reverse split, name change, and ticker change shortly after its recent merger with LJR Security Services, Inc., which was announced on August 9, 2018, and was closed on October 8, 2018.
Subsequent to that merger, Resweber was named Chairman, President & Chief Executive Officer of the Company; and the Company relocated its corporate headquarters from Newport Beach, CA to Lafayette, LA.
Going forward, the Company’s shares will begin trading under its temporary symbol immediately, and its nine-digit, CUSIP (Committee on Uniform Security Identification Procedures) Number will change to 40258R105. Looking ahead, Gulf West plans to apply for an “up-listing” to the NASDAQ Stock Market, the world’s second-largest securities exchange.
Retail & Wholesale Divisions:
“This summer and fall have been a period of dramatic change and positive transformation for our Company, as we have worked to implement an evolution from the ‘life sciences’ to the ‘life safety’ and security industries,” explained Resweber. “Indeed, Gulf West is now fully immersed in the electronic security sector, on both a retail and a wholesale basis.”
Gulf West’s Retail Division is actively engaged in the hands-on design, engineering, sales, installation, after-market servicing, inspection and remote electronic monitoring of electronic intrusion alert (“security”), fire detection and medical response systems for both the residential (“home alarm”) and commercial (“business and industrial”) markets.
Meanwhile, Gulf West’s Wholesale Division continues to focus on the development and expansion of its proprietary alliance (or network) of pre-existing and independently-branded life safety and property protection providers, fire alert and fire suppression system installers, remote monitoring and video surveillance specialists, home automation (“smart home”) designers, commercial systems integrators, structured wiring professionals and electrical contractors.
According to Resweber, “Through these two divisions, we will work to expand our footprint in the security industry, a rapidly-growing (but highly-fragmented) sector comprised of 14,000 businesses (including many small “mom-and-pop” providers) which are collectively generating more than $22 billion in annualized revenues; and which are simultaneously experiencing both brisk expansion (new business starts) as well as increasing consolidation (mergers and acquisitions).
Market research consultants Stratistics MRC (Gaithersburg MD) sets the bar higher for the security industry, as it is predicting that the residential (“home alarm”) segment of the market, alone, will grow at a compounded annual growth rate of 8.9%, to more than $57 billion by 2022.
Focus on Life Safety & Security:
“Reflecting the previous positive actions taken by our Board of Directors, these decisions to change our Company’s name – and, ultimately, our stock symbol – are completely consistent with our strategic plan to position Gulf West as an emerging leader in the burgeoning life safety and electronic security sector,” Resweber said.
“Operating under our new name, Gulf West Security Network, we are now poised to aggressively pursue emerging merger and acquisition (M&A) opportunities in the domestic security sector,” Resweber opined.
“Indeed, in just the short time since we first announced our Company’s strategic change of direction,” Resweber added, “we have already generated tremendous interest in our products and services among those independent security and fire alarm providers which constitute our target market.”
In fact, Resweber reported that Letters of Intent (LOI’s) have already been secured with two independent life safety and security companies, and initial negotiations are underway with a handful of additional providers.
Looking ahead, Resweber said that with this “re-branding” behind it, Gulf West will have the opportunity to more actively search for new merger and acquisition opportunities.
About Gulf West Security Network, Inc.:
Gulf West Security Network, Inc. is actively engaged in the life safety and electronic security industry on both a retail and a wholesale basis. Through its Retail Division, Gulf West provides hands-on design, engineering, sales, installation, after-market servicing, inspection and remote electronic monitoring of electronic intrusion alert (“security alarm”), fire detection (“fire alarm”), and medical response systems for both the residential (“home alarm”) and commercial (“business and industrial”) markets. Through its Wholesale Division, Gulf West focuses on the development and expansion of its proprietary alliance (or network) of pre-existing and independently-branded life safety and property protection providers, fire alert and fire suppression system installers, remote monitoring and video surveillance specialists, home automation (“smart home”) designers, commercial systems integrators, structured wiring professionals and electrical contractors. For more information on Gulf West, please visit: www.gulfwestsecurity.com.
Safe Harbor Disclosure:
This News Release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, many of which are beyond the Company’s control. The Company’s actual results could differ materially and adversely from those anticipated in such forward-looking statements as a result of certain factors, including those set forth below and elsewhere in this News Release. All statements, other than statements of historical facts, included in this News Release regarding the consummation of the proposed Merger, the timing of the same, the actual performance, timing and commercial viability of therapies under development, as well as statements regarding growth strategy, future operations, financial position, estimated revenue or losses, projected costs, prospects and plans and objectives of management are forward-looking statements. When used in this News Release, the words “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “plan” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. All forward-looking statements speak only as of the date of this News Release. The Company undertakes no obligation to update any forward-looking statements or other information contained herein. Potential investors should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, intentions and expectations suggested by the forward-looking statements included in this News Release are reasonable, including the Merger, and the time currently expected to close the Merger, the Company cannot assure potential investors that these plans, intentions or expectations will be achieved. The Company discloses important factors that could cause its actual results to differ materially from its expectations under “Risk Factors” in its most recent Annual Report on Form 10-K for the Fiscal Year-Ended September 30, 2017, and elsewhere in this News Release. These cautionary statements qualify all forward-looking statements attributable to the Company or to persons acting on its behalf. For additional information regarding the Merger and the Merger Agreement, please see the Company’s Current Report on Form 8-K, to be filed with the U.S. Securities & Exchange Commission (the “SEC”) substantially simultaneously with the date of the release of this News Release, and for additional information regarding the Company, please see the filings made by the Company with the SEC available on the SEC’s website at www.sec.gov.
Contact:
Ted Haberfield
MZ Group America
mobile: (858) 204-5055
direct – office: (760) 755-2716
e-mail: thaberfield@mzgroup.us
Contact:
Lou Resweber
Gulf West Security
mobile: (225) 413-6392
direct – office: (337) 210-8790
e-mail: lou.resweber@gulfwestsecurity.com
SOURCE: Gulf West Security Network, Inc.
ReleaseID: 528865
