Phoenix Rising Companies (PRCX), a holding company with various business interests, announced in a recent SEC report a significant expansion of its authorized shares of common stock. As of February 9, 2022, the company increased its authorized shares of common stock from 1,000,000 to 8,000,000. This move demonstrates the company’s commitment to growth and acquiring potential business opportunities.
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Diverse Business Operations
Phoenix Rising Companies has a diverse portfolio of business operations, with subsidiary entities that include Worx America, Inc., Shenzhen Amuli Industrial Development Co. Ltd., Beijing Yandong Tieshan Oil Products Co., Ltd., and Admall Sdn. Bhd. Each subsidiary operates in different industries, ranging from automated solutions for the industrial and environmental sectors to the trading of oil, gas, and lubricant products in the People’s Republic of China (PRC). The company also focuses on nutrition consultancy services and online sales of health, nutrition, and supplement products.
Changes in Management and Ownership
The company has experienced several changes in management and ownership over the years. In July 2019, the Board of Directors approved a reverse one-for-one hundred (1-for-100) stock split of the company’s issued and outstanding common stock. This move aimed to improve the company’s financial position and create better shareholder value. Previously, the company had considered changing its name from “Resort Savers, Inc.” to “SCGI Group Holding, Inc.,” but ultimately abandoned the idea and retained its current name.
Competitive Edge and Challenges
Founded on January 21, 2014, Phoenix Rising Companies strives to maintain a competitive edge in the industries it operates in. The company faces intense competition from other funds, companies, and sources of capital to secure competitive acquisition targets and consummate future transactions. Despite these challenges, the company cites its use of trademark laws, trade secrets, confidentiality provisions, and other contractual provisions to protect its proprietary rights, such as brand names, product designs, and marks.
Risks Associated with Doing Business in the PRC
The company’s business operations also face risks associated with doing business in the PRC. Changes in the PRC’s political and economic policies have the potential to materially and adversely affect Phoenix Rising Companies’ business, financial condition, and results of operations. Furthermore, the PRC government’s role in regulating the industries it operates in can impact the company’s ability to sustain its growth and expansion strategies.
In conclusion, Phoenix Rising Companies’ recent increase in authorized shares of common stock highlights the company’s ongoing commitment to growth and exploring potential business opportunities. Despite the challenges and risks associated with the industries it operates in and its international scope, the company continues to adapt and strategize for success in a competitive market.
Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!