Worldwide NFT Inc. Announces New Control and 1‑for‑10 Reverse Split

Worldwide NFT, Inc. (OTC: WNFTD; WNFT) disclosed that Jay Wright has acquired majority voting control from George Sharp in a privately negotiated transaction effective immediately, and that the company completed a 1‑for‑10 reverse split of its common stock on May 15, 2026 [1].

Key takeaways

• Jay Wright, former co‑founder and CSO of Castellum, Inc., now holds majority voting control of Worldwide NFT [1].
• The reverse split reduced the common share count to roughly 94.35 million and left 5 million preferred shares outstanding [1].
• The company has no debt following the recapitalization and will trade under ticker WNFTD for about 20 business days before reverting to WNFT [1].
• Wright indicated plans to pursue “acquisition‑driven growth” in sectors such as software, AI, robotics and UAVs [1].
• The press release contains forward‑looking statements that carry typical risk disclosures [1].

New Leadership and Strategic Outlook

Jay Wright’s background spans law, investment banking and executive roles at publicly traded firms, including CFO of Speedcom Wireless and CEO of MobilePro Corp. He also advised over thirty companies on M&A strategy and helped negotiate seven defense‑oriented acquisitions while at Castellum [1]. Upon taking control, Wright said the company will seek “interesting, accretive acquisition opportunities,” targeting areas like software, managed services, artificial intelligence, robotics, UAVs and onshoring of manufacturing. He framed the strategy as a response to the retiring baby‑boomer demographic and expressed a goal of building a large, profitable public company that could qualify for listing on a major U.S. exchange [1].

Recapitalization Details

The reverse split, filed on FINRA’s Daily List on May 15, 2026, consolidated every ten existing common shares into one new share, resulting in approximately 94.35 million common shares and 5 million preferred shares outstanding. The company reported having no debt after the recapitalization. The ticker will temporarily change to WNFTD for roughly 20 business days—accounting for the Memorial Day holiday—before reverting to its original ticker, WNFT [1]. The release also includes standard forward‑looking statements, warning that actual results may differ due to risks such as the ability to identify, finance and close acquisitions [1].

Why it matters

The shift in control to Jay Wright signals a potential strategic pivot for Worldwide NFT, a company previously known for its focus on non‑fungible tokens. By consolidating ownership and reducing share count, the firm may be positioning itself for a future uplist to a major exchange, as hinted by Wright’s growth ambitions. The announced acquisition focus on high‑growth technology sectors could reshape the company’s business model, but the forward‑looking nature of these plans means investors should monitor subsequent filings and any disclosed acquisition activity for concrete outcomes.