Loading, Please Wait...
Bravatek Solutions, Inc. -- Blending Strategic Vision With the Discipline to Execute
AUSTIN, TX --(Marketwired - February 25, 2016) - Bravatek Solutions, Inc. (OTCQB: BVTK) announced today that it is pleased to release the following letter to its shareholders:
Dear Valued Shareholders:
I am writing, in an open and forthright manner, to address both the challenges we have faced at Bravatek (formerly known as Ecrypt Technologies, Inc. [ECRY]) as well as the opportunities before us in 2016. Many of you have contacted us to encourage us to continue with the progress we have demonstrated in creating top-tier cybersecurity software products and telecom tower services that are gaining traction in the marketplace -- particularly highlighted in recently released information about our exclusive $8 M+ purchase orders to provide services to a major telecom wireless carrier. In addition, we see the genuine business opportunity in our recently announced JV with YKTG -- well poised to yield even larger contracts in 2016.
Having said all this, getting to this point in our company's evolution brought pain for us as shareholders, and shareholders have rightly made that clear to us -- as they should. I wanted to share with you what our current Board and management team faced when we came to ECRY and how we needed to make tough decisions to get us on a much better path ultimately for our shareholders. Like Joe Friday, a character from a 1950's show "Dragnet" would say, "Just the facts, Ma'am." It's in this spirit that we address the tough road we encountered and the steps we're taking to exploit the opportunities now before us.
When asked to join the Board and weeks later asked to take the role of CEO and Chairman, I knew that this endeavor was filled with challenges -- to put it mildly. Our management team and Board inherited a 7+ year firm that simply had no products available for sale, no services nor revenue, coupled with a lack-luster balance sheet. Faced with no real prospects after working diligently to try to obtain sufficient financing, we felt compelled to obtain convertible debt finance due to prospective investors' concern over ECRY's history of the lack of products/services and existing liabilities owed to lenders holding significant debt and legacy preferred stock. As a team, we decided to take on the debt to make ECRY (later Bravatek) a real company with significant revenues from selling genuine products and services needed in growing market segments. In a relatively short time, we have developed and launched a full family of Ecrypt One cybersecurity email solutions (available on Amazon Web Services), as well as acquired telecom service assets, which we parlayed quickly into sizeable and exclusive POs for our newly formed Telecom Services Group -- with the real potential of additional, even larger POs in 2016. These management decisions were certainly tough and agonized over, but in the final analysis, they were necessary in our view to get Bravatek on a sustainable track to profitable growth and enable us to explore new strategic partnerships, JVs and other rapid-time-to-market avenues to monetize our capabilities -- both nationally and internationally.
And, yes -- it is true -- that the actions mentioned above created both pain and challenges for us as shareholders. Please realize that we are now regarded as a firm with significant potential by a small group of our convertible debt holders, as well as private equity sources we have been in negotiations with. We are now turning the corner by consolidating our convertible debt and attracting potential equity infusions to put us in a much better situation, as we recently announced. We still face challenges, but we do so knowing that we have a real future of sustainable growth -- all orchestrated to provide our shareholders ultimately with high returns on their investment. New opportunities have arisen for us to expand our telecom services in another part of the country. We will certainly update our progress to you in the coming weeks.
We are poised for a successful 2016 and beyond here at Bravatek and sincerely appreciate your continued support and feedback as we embark on the ample business opportunities that await us.
Chairman & CEO
About Bravatek Solutions, Inc.
Bravatek Solutions, Inc. is a high technology security solutions portfolio provider that assists corporate entities, governments and individuals protect their organizations against both physical and cyber-attacks through its offering of the most technically-advanced, cost-effective and reliable software, tools and systems.
For more information, visit www.bravatek.com.
Safe Harbor Statement
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Bravatek Solutions, Inc.