Year: 2023

LICT Corporation Revises Proposed Distribution Date for Spin-Off of MachTen, Inc.  

Rye, NY, August 11, 2023 — LICT Corporation (OTC Pink: LICT) has changed the proposed distribution date for its previously announced spin-off of 81% of the common stock of MachTen, Inc. (OTC Pink: MACT) from August 14 to August 31, 2023.  MachTen is a newly formed company organized to be a holding company for LICT’s Michigan operations.

LICT’s stockholders of record as of 5:00 p.m. New York City time on July 31, 2023 will continue to be entitled to receive 150 shares of MachTen for every 1 share they own of LICT common stock.  It is also now intended that the ex-dividend date for the distribution will be set for September 1, 2023, such that any shares of LICT common stock traded prior to September 1, 2023 will be transferred with the right to receive the distribution of MachTen common stock in the spin-off.We look forward to a promising future for MachTen as it focuses on bringing higher broadband speeds to the communities it serves.

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation Announces Expected Ex-Dividend for Spin-Off of MachTen, Inc.

Rye, NY, August 7, 2023  — LICT Corporation (OTC Pink: LICT) previously announced that its Board of Directors has approved  the spin-off of a majority interest in its Michigan businesses through a pro rata distribution of 81% of the common stock of MachTen, Inc., a newly formed holding company formed to hold the Michigan businesses. LICT shareholders will receive on August 14, 2023, a distribution of 150 shares of MachTen common stock for every 1 share of LICT common stock owned as of 5 p.m. ET on July 31, 2023, the record date for the distribution.

It is intended that the ex-dividend date for the distribution will be set for August 15, 2023, such that any shares of LICT common stock traded from now until such date will be transferred with the right to receive the distribution of MachTen common stock in the spin-off.  

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation Announces Board Approval of Michigan Spin-Off to MachTen

Rye, NY, July 31, 2023  — LICT Corporation (OTC Pink: LICT) announced today that its Board of Directors has approved the previously announced separation of the company’s wholly owned Michigan subsidiary through a pro rata distribution into newly formed parent company MachTen, Inc.

LICT shareholders will receive a distribution of 150 shares of MachTen common stock for every 1 share of LICT common stock owned as of the record date.

MachTen common stock is expected to be distributed at 11:59 p.m. EDT August 14, 2023, to LICT stockholders of record as of 5 p.m. EDT on July 31, 2023, the record date for the distribution.

The distribution of shares does not require stockholder approval and no action is required by LICT stockholders to receive the shares of MachTen common stock. An information statement with details of the distribution and MachTen’s business following the spinoff will be distributed to LICT stockholders prior to the distribution date.  The distribution is expected to be tax free for LICT stockholders for U.S. federal income tax purposes.

Following the separation, LICT and MachTen will be independent, publicly traded companies with distinct business operations, customers and geographic markets.

MachTen shares are expected to trade on the OTCQB under the symbol “MACT.”  MachTen is planning a conference call for investors on August 23 at 4:30pm ET.  MachTen Chief Executive Officer, Dan Miller, will review the Michigan operations, financial performance and growth prospects, and answer questions. Dial-in information will be available at www.machteninc.com.

“This is a very exciting time for MachTen stakeholders – our customers, our Michigan based team, and our shareholders,” said Dan Miller.  “Michigan Broadband is well respected provider of communications services, and is well positioned to benefit from several demographic trends.”

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.  LICT Corporation is listed on the OTC Pink® under the symbol LICT. For further information visit our website at http://www.lictcorp.com.

.********************************************************************************** This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com.       As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.

LICT Corporation is listed on the OTC Pink® under the symbol LICT. For further information visit our website at http://www.lictcorp.com.

LICT Corporation Announces MachTen Form 10 Registration Statement Approval

Rye, NY – July 25, 2023 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) announces that the U.S. Securities and Exchange Commission has cleared the spin-off of the Company’s  Michigan operations. Details will be forthcoming in a future press release.

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com.       As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.

LICT Corporation is listed on the OTC Pink® under the symbol LICT. For further information visit our website at http://www.lictcorp.com.

LICT Corporation Announces MachTen Form 10 Registration Statement Declared Effective

Rye, NY – July 18, 2023 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT)
announces that, in connection with the previously disclosed spin-off of MachTen, the U.S.
Securities and Exchange Commission has declared effective the Registration Statement on Form
10 filed by MachTen, Inc., the wholly owned subsidiary of LICT that was formed to be the new
parent company for the Michigan operations post-separation.


The information statement that is attached to MachTen’s Form 10, including details regarding the
separation, pro rata distribution and a discussion of the Michigan business, will be made available
to LICT shareholders prior to the distribution date. It is expected that the distribution will be made
in the third quarter.


In connection with the separation, MachTen is planning a conference call for investors on August
23 at 4:30pm ET. MachTen Chief Executive Officer, Dan Miller, will review the Michigan
operations, financial performance and growth prospects, and answer questions. Dial-in
information will be available at www.machteninc.com.

This release contains certain forward-looking information within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
including without limitation anticipated financial results, financing, capital expenditures and corporate
transactions. It should be recognized that such information is based upon certain assumptions, projections
and forecasts, including without limitation, business conditions and financial markets, regulatory and other
approvals, and the cautionary statements set forth in documents filed by LICT on its website,
www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be
accomplished or be successful, or that financial targets will be met. Such forward-looking information is
subject to uncertainties, risks and inaccuracies, which could be material.
LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications
services that actively seeks acquisitions, principally in its existing business areas.
LICT Corporation is listed on the OTC Pink® under the symbol LICT. For further information visit our
website at http://www.lictcorp.com.

LICT Corporation Update on Strategic Initiatives

Rye, NY – July 6, 2023 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) is announcing that the Board of Directors continues to actively analyze and evaluate a full range of means to raise capital, permitting the Company to expand the scope and scale of its businesses, accelerate growth, and to provide speed, and accessibility to our customers, while growing our shareholders’ intrinsic value.

The Company is exploring indications of interest it received from third parties for selected operating entities within LICT.  Involvement could include partnering, managing, investing, financing, acquiring, and/or other joint venturing arrangements. The Company states that there can be no assurance that this strategic review process will result in a transaction.

These efforts also include the previously announced spin-off of its Michigan operations to a wholly owned subsidiary, MachTen, Inc. (MachTen) for which a Form 10 Preliminary Registration Statement has been filed with the U.S. Securities and Exchange Commission (‘SEC’). The Company is currently working through the process and continues to expect a third quarter distribution to its shareholders.

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions.  It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com.  As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. LICT Corporation is listed on the OTC Pink® under the symbol LICT.  For further information visit our website at http://www.lictcorp.com.

Notice Of Annual Meeting Of Stockholders To Be Held June 2, 2023

NOTICE IS HEREBY GIVEN to the holders of common stock, par value $0.01 per share (the “Common Stock”), of LICT Corporation (the “Corporation”), a Delaware corporation, will hold this year’s annual meeting of stockholders (the “Annual Meeting”) on June 2, 2023 beginning at 9:30 am Eastern Time at 401 Theodore Fremd Avenue, Rye, NY 10580 

The Annual Meeting will be held for the following purposes: 

  1. To elect seven (7) members to our Board of Directors to serve until the next Annual Meeting or until their successors are duly elected and qualify; 
  2. To ratify the appointment of BDO USA, LLP as the Corporation’s independent auditor for the year ending December 31, 2023; and 
  3. To transact such other business as may properly come before the Annual Meeting or any adjournments thereof. 

Information relating to the above matters is set forth in the enclosed Proxy Statement. The Board of Directors and management of the Corporation are not aware of any other matters that will come before the Annual Meeting. As determined by the Board of Directors, only stockholders of record at the close of business on May 10, 2023, are entitled to receive notice of, and to vote at, the Annual Meeting and any adjournments thereof. 

The Board of Directors encourages all stockholders to attend the Annual Meeting. Your vote is very important regardless of the number of shares you own. Whether or not you expect to attend the Annual Meeting, you are requested to promptly date, complete, sign and return the enclosed Proxy Card in the enclosed postage-paid envelope in order that your shares of our Common Stock may be represented. Your cooperation is greatly appreciated. 

LICT Corporation 2023 Proxy Statement

LICT Corporation Announces Filing with SEC for Spin-Off of Its Michigan Operations

Rye, NY – May 15, 2023 – LICT Corporation (the “Corporation”; OTC Pink®: LICT) is today announcing the formal submission of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (‘SEC’) for the spin-off of its Michigan operations to a wholly owned subsidiary, MachTen, Inc. (MachTen). The Form 10 submission is preliminary and is subject to change upon SEC review.  LICT expects a third quarter distribution to its shareholders.

LICT is undergoing a strategic review of its operations to determine whether our shareholders might benefit from ways to surface value including additional spin-offs. LICT’s history of spin-offs include CIBL, Inc., spun off in 2007, initially traded beginning in 2008 at around $200 per share; it has recently traded as high as $1,800 per share.  Likewise, ICTC Group, Inc., spun off in 2010, initially traded at around $15 per share and was acquired in 2018 for $65 per share. Indeed, LICT was itself a spin-off from Lynch Corporation and started trading at $2,500 per share.

The Board continues to analyze  and evaluate a full range of means to raise capital, permitting the Company to expand the scope and scale of its businesses, accelerate growth, and to provide speed, and accessibility to our customers, while growing our shareholders’ intrinsic value.

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions.  It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com.  As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.

LICT Corporation is listed on the OTC Pink® under the symbol LICT.  For further information visit our website at http://www.lictcorp.com.