Sports Venues of Florida, Inc., Updates Shareholders on Debt Reduction and Results of Operations for the Year Ended May 31, 2020

TAMPA, FL, Sept. 14, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sports Venues of Florida, Inc., (OTCMKTS: BTHR) (“Sports Venues of Florida”, “BTHR”, or the “Company”), an emerging leader in the eSports, youth sports, and family sports entertainment markets, is pleased to provide shareholders with the results of operations for the year ended May 31, 2020. Highlights for the period included a cash payoff of $196,236 to a toxic convertible note holder, a $249,309 gain on debt forgiveness, a 24,000% increase in total assets, improved basic and diluted loss per share from ($0.06) per share to ($0.03) when compared to the period ended May 31, 2019. These are just a few of the giant improvements the Company has made in 2020 when compared to the same period in 2019.

Management knew in early 2019 if drastic measures were not taken the Company would fall to toxic convertible note holders from 2013 who had been waiting to pounce on the Company like ravenous jackals going after a dead animal that no other predator wanted. Management was determined to clean up old toxic debt and raise capital through a qualified Regulation A Tier One registration statement that would appeal to a higher class of investors. On January 13, 2020, the United States Securities and Exchange Commission qualified the Company’s registration statement. When its registration statement became qualified the Company’s stock price was a mere $0.03 with zero volume. Management knew to execute its plan it needed a financial partner who would support management through what was sure to be troubled waters. During the period from January 2019 until January 2020, management contacted 3,926 different funds, potential investors, high net worth individuals who were from all over the world. Rejections flowed faster than water over Niagara Falls. Management encountered frauds, scammers, imposters, and sharks all trying their best to feast on what remained on the bones of the Company. The more rejection Management got the more it strengthened their resolve. At the end of a yearlong exhausting search for the perfect financial partner, one emerged who made it possible for the Company to not only survive but thrive.