12 ReTech Corporation Releases Its Annual Report For The Year Ended December 31, 2017.
Summary
Carson City, NV & Hong Kong, April 16, 2018 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTC: RETC), announced today that it has filed its annual Form 10-K with the United States Securities and Exchange Commission for the period ended December 31, 2017.Management believes the larger loss — caused by investing in software development, raising working capital, pursuing Investor Relations and being a publicly listed entity — is significant but warranted as the Company executes its business plan which, if successful, should rapidly increase shareholder value in the future.Angelo Ponzetta, Founder and CEO of 12 ReTech stated, "While we accomplished much in 2017 with our three acquisitions (12 Hong Kong, 12 Japan and 12 Europe) as well as the founding of 12 Retail in the U.S., it was a mainly a setup year for us.We anticipate that a successful microbrand acquisition strategy would allow us to produce significant revenue and earnings before projected income from our high growth business model based on our proprietary technology products kicks in."Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing.