MDWerks Issues Year-End Letter to Shareholders
GREEN COVE SPRINGS, Fla., Dec. 19, 2024 (GLOBE NEWSWIRE) -- MDWerks, Inc. (“MDWerks” or the “Company”) (OTCQB: MDWK), a forward-thinking company leading the charge in the world of sustainable technology, today issued the following letter to shareholders from its Chief Executive Officer, Steven Laker and Executive Chairman of the Board, Jim Cassidy.
Dear Fellow Shareholders,
As 2024 draws to a close, we would like to recap our progress over the last twelve months transforming MDWerks from a public shell entity without any operations into an innovative growth company with two foundational businesses, an enhanced Board of Directors, and a streamlined capital structure--all underpinned by a proprietary energy wave technology platform that has the potential to drive efficiency and environmental sustainability in multiple industries.
Although our facilities in Western North Carolina were directly in the path of Hurricane Helene, they were undamaged and we remained on course, demonstrating the strength of our model and the resilience of our team. By acting as the connecting force between highly technical capabilities and commercial applications, we are cultivating an irreplaceable technical team and assembling a robust patent portfolio ready for new verticals. MDWerks is embracing a disciplined strategy—focusing on introducing one product at a time—all while minimizing traditional R&D burdens.
Building the Foundation
On December 8, 2023, we acquired Two Trees Beverage Company (“Two Trees”), an award-winning craft spirits distiller that leverages our exclusive energy wave technology, which lowers costs, increases speed-to-market, drives innovation, reduces carbon footprint and slashes wood consumption (saving trees) during the whiskey-making process. Two Trees’ Sustainably Matured™ method mirrors the traditional aging process to deliver premium-quality spirits with balanced, mature flavors, but accelerates the natural physical and chemical changes that take place, condensing aging from years to days and lowering wood consumption by approximately 90%.
During the past year, the team has expanded distribution and awareness of the Two Trees® and Tim Smith Spirits® brands, which include more than 30 refined spirits products. Among the highlights, Two Trees:
- signed a new 15-year license agreement that expands and extends its collaboration with Tim Smith, best known for his starring role in Discovery Channel’s Moonshiners and for crafting classic moonshine and other fine spirits;
- entered the rapidly growing flavored whiskey category with the release of Tim Smith’s Climax Honey Raspberry Flavored Whiskey™;
- hired Green Glass Global, a leading independent wine and spirits broker, to place its brands in front of key purchasing decision-makers across the country;
- co-sponsored Team Combat League, the nation’s first and only boxing league with a franchise team format;
- appeared on Viewpoint, an educational television series hosted by actor Dennis Quaid, in a segment that aired nationally and featured our sustainability efforts; and
- won “Best of Asheville™” in the distillery category for the second consecutive year.
In late December 2023, on the heels of the Two Trees acquisition, we purchased RF Specialties, LLC (“RFS”), which provides modern energy wave solutions to customers in the wood, adhesives, and food & beverage industries. Utilizing its energy wave expertise, RFS designs and builds custom manufacturing equipment that enhances production line efficiency, lowers costs and drives environmental sustainability. In 2024, the RFS team diligently served its existing customer base while pursuing new business opportunities. Of note, earlier this week RFS announced a significant new contract with USNR, the world’s largest supplier of equipment and technologies for the wood processing industry. RFS will maintain and service USNR’s global installed base of Mann-Russell tube-based radio frequency equipment among wood manufacturing companies. Beyond existing operations, we see tremendous potential for RFS’s valuable microwave energy patents, technical expertise and manufacturing capabilities to be applied within new verticals.
Enhancing the Board
With a solid business foundation in place, we expanded and enhanced our Board of Directors. In November 2024, we appointed Tim Brocopp as a new independent director. He brings to MDWerks approximately three decades of leadership experience in the beverage distribution industry, including as President and CEO of Intermountain Distributing Company. Earlier this month, we also appointed Richard Blackstone as a new independent director. He brings to MDWerks nearly four decades of experience as a highly accomplished executive in the music industry with a strong track record of leading, innovating, and growing world-class organizations. Tim and Richard join Ted Kratovil, who has been an independent director since December 2023. Ted is a leading policy and public relations advisor with 45 years of leadership and quantifiable results in public policy, fundraising and corporate philanthropy involving U.S. and international government relations. We expect to benefit from our experienced independent directors’ unique perspectives, skills and guidance as we continue to grow Two Trees and RFS.
Streamlining the Capital Structure and Elevating MDWerks’ Corporate Profile
Among other accomplishments this past year, we streamlined MDWerks’ capital structure and took steps to elevate the Company’s corporate profile in the financial community. On November 7, 2024, the Company purchased all issued and outstanding shares of its Series A Convertible Preferred Stock from a legacy shareholder, thereby streamlining the capital structure, removing an overhang, and providing us with greater financial flexibility. We achieved another important milestone with the uplisting of our common stock to the OTCQB Venture Market on November 21, 2024, reflecting our commitment to enhancing market visibility and increasing share liquidity. Throughout the year we have increased our level of public communications and investor relations in the spirit of transparency and with the aim of building an expanded audience of potential investors.
Looking Ahead
While we accomplished much in 2024, we are even more excited about the growth opportunity for MDWerks in 2025 and beyond. We possess valuable intellectual property appraised at approximately $400 million by a leading independent financial advisory firm, a strong leadership team, and an environmental sustainability mission that underlays our overall strategy: we strive to make our world a better place while helping our clients and their businesses to become more efficient.
At a fundamental level, our growth strategy consists of organic expansion of Two Trees and RFS, supplemented by accretive acquisitions that align with our mission. At Two Trees, we will continue to build our existing sales channels and brands while also pursuing bulk sales and licensing of our proprietary spirits aging technology; white labeling spirits for third parties; and securing liquid oak concentrate sales. At RFS, we will focus on organic growth in the near term and over time seek to deploy energy wave solutions in new verticals, such as water desalination, wastewater and sewage, food processing, petrochemicals, and pharmaceuticals.
In conclusion, we are dedicated to creating long-term value for our shareholders by building impactful, successful businesses that leverage our proprietary energy wave technology platform. We appreciate your continued support and look forward to reporting on our progress in the coming months.
Sincerely,
| Steven Laker Chief Executive Officer | Jim Cassidy Executive Chairman of the Board |
About MDWerks, Inc.
MDWerks, Inc. (“MDWerks”) (OTC: MDWK) is a forward-thinking company that is leading the charge in the world of sustainable technology. As a prominent provider of energy wave technologies, MDWerks is committed to developing innovative solutions that help businesses reduce their energy costs and drive business value. For more information, please visit https://mdwerksinc.com/.
MDWerks’ wholly owned subsidiary, Two Trees Beverage Company, is headquartered deep in the Appalachian Mountain country, creating fine spirits, aged sustainably. Two Trees’ fine spirits brands, including Two Trees® and Tim Smith Spirits®, have received multiple industry awards, including recent recognition at the 2022 Sip Awards, the 2022 Fifty Best Awards, and the 2023 Best of Asheville. For more information, please visit https://twotreesdistilling.com/.
MDWerks’ wholly owned subsidiary, RF Specialties, LLC (“RFS”) addresses companies’ most pressing challenges by implementing automated radio frequency technology systems in a sustainable way reducing energy costs and increasing speed to market when compared to traditional methods. For more information, please visit https://www.rfspecialtiesus.com/.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements”. Forward-looking statements also may be included in other publicly available documents issued by MDWK and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause MDWK’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for MDWK’s products and services, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Forms 10-Q and Current Reports on Form 8-K, which are available on the Securities and Exchange Commission’s website at sec.gov. We assume no obligation to update any forward-looking statements contained in this press release.
Company Contact:
MDWerks, Inc.
Steven Laker
T: (252) 501-0019
stevel@mdwerksinc.com
Investor Contact:
The Equity Group
Kalle Ahl, CFA
T: (303) 953-9878
kahl@equityny.com
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