Cyberlux Corporation (OTC:CYBL) Eliminates 12% of the Company’s Outstanding Shares with the Cancellation of 700 Million “Ghost Shares” and Announces a Further Reduction in Authorized Shares by an Additional 1.75 Billion or 20%

The Company completes the complex process of removing 700 million shares previously issued from its Outstanding Shares, reducing the balance by 12% overall. In addition, the Cyberlux Board of Directors has moved to further reduce its Authorized Share level by 1.75 billion or 20%

RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / May 4, 2022 / Today, Cyberlux Corporation, (OTC:CYBL), an advanced digital technology platform company leading the digital transformation evolution across industries with breakthrough Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) solutions, advanced unmanned aircraft solutions (UAS), cutting-edge lighting solutions, and renewable energy and infrastructure technology solutions, announced that the Company has successfully completed the process of removing 700,000,000 (700 million) ‘ghost' restricted common stock shares from its Outstanding Share balance, reducing the current Outstanding Shares by 12% overall, from 5.8 billion shares to 5.1 billion shares. A remnant from an unfulfilled financial transaction from 2014, these 700 million restricted common stock shares were reported as lost and destroyed in 2018, and while untradeable, these shares were also unable to be returned for cancellation. In 2021, Cyberlux Management began the complex process of legally fulfilling the consent and compliance process required by its transfer agent, Standard Registrar and Transfer Company, and the representatives of the prior shareholder to remove these shares from the Outstanding Share level. Cyberlux Management navigated the complex process and prevailed and completed the process earlier this week, an almost unheard-of endeavor.

Furthermore, the Cyberlux Board of Directors has reviewed its 2022 Roadmap for future strategic growth and concluded the Company's Authorized Share level can be appropriately reduced by 1.75 billion shares, from 8.75 billion to 7.0 billion. This announcement is a 20% reduction in the current Authorized Share level. The Company will file the amendment to reduce its Authorized Share level with the Nevada Secretary of State within the next 5 business days and expects the reduction to be reflected within the next 10 business days, providing more protection to its shareholders from unnecessary dilution while still allowing the Company to achieve its strategic growth to over $225 million in revenue by 2025.