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Greenway Technologies, Inc. (OTC Pink:GWTI), a Texas-based company specializing in miscellaneous food preparations and kindred products, with a market capitalization of $129.4 million and current trading price of $28.29, has entered into a material definitive agreement with Renewable Elements, LLC, according to a recent 8-K filing with the Securities and Exchange Commission (SEC). The agreement, dated May 20, 2025, involves the installation of a G-Reformer™ pilot site for the production of synthesis/hydrogen gas.
The term sheet, which precedes the execution of definitive agreements, includes a non-refundable deposit of $1.3 million paid by Renewable Elements to Greenway Technologies. The deposit is intended for research, development, and the construction, delivery, and installation of the pilot site. The deposit will be credited against future payments under the definitive agreements, or retained by Greenway Technologies if no such agreements are finalized. According to InvestingPro analysis, the company currently shows poor free cash flow yield, making this deposit particularly significant for its operational funding. For detailed financial analysis and more exclusive insights, subscribers can access additional ProTips on the platform.
In other corporate updates, Greenway Technologies’ Board of Directors adopted amended and restated bylaws on May 22, 2025. The changes reflect recent developments in corporate governance practices and SEC regulations. Key amendments include updated provisions for shareholder meetings, director nominations, and the voting process. Additionally, the company has removed shareholders’ rights to act by written consent and to cumulate votes during director elections. The bylaws now also include forum selection provisions and a new requirement for shareholders to hold a minimum of 3% of outstanding shares to initiate or maintain a derivative proceeding.
Furthermore, Greenway Technologies announced its common stock is expected to transition to the OTCID Basic Market in July 2025, following approval from the OTC Markets Group. The OTCID Basic Market is designed for companies that meet a minimal current information standard and provide management certification. This move is in line with the company’s ongoing evaluation of trading platforms that would best serve the interests of its shareholders.
This article is based on a press release statement and the information contained in the 8-K filing with the SEC. With a year-to-date return of -5% and an overall Financial Health score of "FAIR" according to InvestingPro, investors should carefully consider the company’s performance metrics. It is important to note that forward-looking statements in the filing, such as the completion of definitive agreements and the transition to the OTCID Basic Market, are not guarantees of future performance and are subject to various factors and uncertainties. Unlock comprehensive financial analysis and real-time insights with an InvestingPro subscription. The company disclaims any obligation to update forward-looking statements.
In other recent news, NFiniTi Inc. has made significant strides in expanding its business operations. The company completed the acquisition of Metavox Holdings, a web3 initiative, through its subsidiary NFiniTi 2 Inc. This strategic move involved a share exchange agreement and a $500,000 convertible promissory note, marking NFiniTi’s entry into the web3 and fintech technology sector. Additionally, NFiniTi Inc. acquired CyberSyn LLC, a fintech firm specializing in cryptocurrency exchange development, through its subsidiary NFiniTi 1 Inc. The acquisition is structured as a tax-free reorganization, pending legal confirmation, and aligns with NFiniTi’s strategy to explore new industries.
Furthermore, NFiniTi Inc. secured a $20 million equity line of credit with RH2 Equity Partners, providing the company with a flexible option for raising capital over the next two years. This agreement allows NFiniTi to issue and sell newly issued shares under certain conditions. In another financial development, NFiniTi issued a $1 million convertible promissory note to RH2 Equity Partners, which carries a 15% annual interest rate and is convertible into common stock. These financial maneuvers are part of NFiniTi’s broader strategy to enhance shareholder value and diversify its operations.
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