Corporate Restructuring & Administrative Overview
LAS VEGAS, Nevada – Alternative Ballistics Corp. (“ABC” or the “Company”) is pleased to announce that the Company has completed several corporate administrative initiatives in preparation of taking its flagship product, The Alternative®, to market under the direction of a new executive management team with the intention of making the Company a public reporting Issuer through a registration statement later this year.
In September 2020, Alternative Ballistics, LP, merged into the newly formed entity, Alternative Ballistics Corporation, by offering equity shares in the new Company to the limited partners and settling all Company debt through the issuance of shares of Company common stock to the Company’s debtholders.
Steve Luna, CEO, expanded the ABC team by adding key law enforcement consultants, specifically Chief of Police Alex Perez (ret.) and Detective Tony Lettieri (ret.) in February 2021. The following month, Mr. Luna added Jason LeBlanc as the Company’s Chief Operations Officer.
In May of this year, the Company closed its first round of seed capital through a private placement of securities, where it gained over 40 new investors.
In June, ABC completed a new series of independent ballistics tests that were conducted by NTS in its Chesapeake Ballistics Testing facility in Belcamp, MD.
The Company is in the final stages of its financial audit in preparation of filing a registration statement on Form S1, which the Company anticipates, but cannot guarantee, will be submitted to the Securities and Exchange Commission in fiscal 2021.
The Company will hold its first Annual Stockholders Meeting on July 9, 2021 at 4pm PST to vote on a number of administrative items and discuss the Company’s new direction and plans to monetize, which include the anticipated launch of the Company’s pilot training program this summer.
About Alternative Ballistics Corporation:
Alternative Ballistics Corp. provides a less-lethal force product to the law enforcement industry known as The Alternative® which serves as a de-escalation tool for certain types of lethal situations encountered by public safety officers in the line of duty. The device is a single-fire, less-lethal impact munition that is comprised of two parts, a docking unit and a special alloy projectile. The Alternative® attaches to an officer’s service weapon and upon firing, the bullet welds securely inside the projectile and is propelled by kinetic energy downrange as one single system traveling at 20% the velocity of a standard round with less penetrating energy. The Alternative® was developed by a group of diverse individuals from law enforcement, military, medical, academia, and business backgrounds, and it is backed by four patents with its current iteration representing the safest, most accurate, and most effective model for deployment in the product’s history to address use-of-force challenges, save countless lives, and protect officers in the line of duty.