2021 end-of-year shareholder update


CEDARTOWN, GA / ACCESSWIRE / December 31, 2021 / Phoenix Rising Companies (OTCQB: PRCX)

Dear shareholders,

Thank you for your continued interest in Phoenix Rising Companies. 2021 has been a year of change and opportunity for the company. There were many professionals and staff in the company who helped us through a difficult time. I hereby express my personal and professional gratitude to our Board of Directors, officers and employees. In addition, we have been supported by many third parties including accountants, lawyers, industry experts and more; I express the same gratitude to this capable and helpful group.

We have continued to successfully operate our main subsidiary, Tieshan Oil, which is engaged in the trading and delivery of products for refining gasoline. The global pandemic has slowed but has not eliminated demand and our next annual report will reflect an expectation of ongoing operations and substantial revenue for the foreseeable future from this division.

The pandemic has also prevented our external auditors from entering China and attempting to salvage the mining acquisition of Wandi. We believe that if this asset had not been in China, the process would have been easier and more successful.

Wandi and Tieshan Oil are both in China. We are not looking for other opportunities there.

The emergence of Covid-19 as well as a growing general distrust of China has led the board to choose to seek new opportunities mainly in the West. Changing the auditors for an American firm was our first step in this direction. On a personal note, I would like to mention that although of Chinese origin, I am a French citizen and my heart is more in the West than in the East. Consequently, the Council’s choice to turn to the West is consistent with my personal projects.

In order to increase shareholder value and the future performance of the company, the board of directors has chosen to undertake new approaches with a view to long-term operational success.

We will focus on new and innovative technologies, sale and marketing of medical devices, environmentally friendly renewable energy and energy production methods, improved and cleaner recovery of minerals, purification exclusive water and more.

We are still in the planning stage and it is likely that we will establish a new R&D division in the United States.

More information will be available soon.

With our best wishes we share a happy new year,

PHOENIX RISING COMPANIES
DS Chang
President and CEO

THE SOURCE: Phoenix Rising Companies

See the source version on accesswire.com:
https://www.accesswire.com/680470/2021-Year-end-Shareholder-Update


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