Waste Energy Corp. Increases Authorized Shares to 1.6 Billion

Waste Energy Corp. has taken a significant step in its corporate strategy by increasing its authorized shares from 400 million to 1.6 billion. This decision, approved by stockholders, aims to enhance the company’s capital structure and provide greater flexibility for future financing and growth opportunities.

The company’s Board of Directors approved the amendment on September 18, 2026, and initiated a written consent solicitation from stockholders. This approach allowed the company to avoid a special meeting, streamlining the approval process. As of the record date, 329,375,544 shares were outstanding, and the amendment received valid consents from holders representing 165,950,837 shares, surpassing the required threshold for approval.

Background

Waste Energy Corp. operates under the SIC code 7389, classified as Services-Business Services, NEC. The company is listed on the OTC exchange under the ticker symbol WAST. Waste Energy Corp. has undergone several name changes in recent years, previously known as Metaworks Platforms, Inc., CurrencyWorks Inc., and ICOX Innovations Inc. The company is incorporated in Nevada and has its principal offices in Fairfield, California.

What the Filing Says

According to the filing, "the Authorized Share Amendment was approved by written consent of the Company’s stockholders in lieu of a meeting." The company also filed a Certificate of Amendment with the Secretary of State of Nevada, which became effective on September 29, 2026, allowing the increased share count.

Impact

This increase in authorized shares may allow Waste Energy Corp. to pursue various strategic initiatives, including potential acquisitions, partnerships, or other capital-raising activities. The move could also influence investor sentiment and provide the company with more options to finance its operations and growth.

What's Next

The filing does not specify what happens next following the increase in authorized shares. However, the company may consider utilizing these additional shares for future financing or strategic initiatives.