WANG & LEE'S INNOVATIVE CRYPTO DIVIDEND STRATEGY: PROTECTING SHAREHOLDERS
Hong Kong, March 12, 2025 (GLOBE NEWSWIRE) -- As disclosed in a press release dated March 4, 2025, Wang & Lee Group, Inc. (NASDAQ:WLGS), intends to distribute a cryptocurrency dividend to its shareholders upon realizing profits and subject to there being retained earnings according to the Company's audited financial statements.
The Company's decision to explore a crypto dividend reflects its commitment to embracing cutting-edge financial technologies and delivering value to its shareholders in innovative ways.
Wang & Lee's crypto dividend initiative is designed not only to reward shareholders but also to safeguard their interests by addressing potential market abuses such as naked short selling and the circulation of counterfeit shares. By leveraging blockchain technology, the Company aims to:
-Reveal Naked Short Selling Activities: Naked short selling occurs when shares are sold without being borrowed, creating artificial supply and distorting market prices. The distribution of a crypto dividend will expose such activities, as only legitimate shareholders will receive the dividend. Short sellers will be forced to cover their positions, ensuring a fairer and more transparent market.
-Identify Counterfeit Shares: The immutable nature of blockchain technology allows the Company to create a definitive record of all legitimate shares. Any shares not recorded on the blockchain will be identified as counterfeit, protecting shareholders from the dilution of their holdings and ensuring the integrity of the Company's share structure.
The dividend will be distributed once the Group achieves profitability which is subject to market conditions.
Specific details of the crypto dividend have not been confirmed yet but the Company is exploring the distribution of a cryptocurrency dividend to provide shareholders with a seamless, secure, and forward-looking method of value transfer. The specific cryptocurrency, record date, distribution mechanism, and timing will be announced in a future date. The Company is working with leading blockchain and financial technology partners to ensure a smooth and compliant process.
About WANG & LEE GROUP, Inc.
WANG & LEE GROUP, Inc. is a Hong Kong-based construction prime and subcontractor engaging in the installation of Electrical & Mechanical Systems, which includes low voltage (220v/phase 1 or 380v/phase 3) electrical system, mechanical ventilation and air-conditioning system, fire service system, water supply and sewage disposal system installation and fitting out for the public and private sectors. It is also able to provide design and contracting services to all trades in the construction industry. Their clients range from small startups to large companies.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
For more information on the Company, please log on to https://www.wangnleegroup.com/
Email: [email protected]
