American Fusion Inc. (OTC: AMFN), Obtains Court Order Cancelling 1.683 Billion Shares, Eliminating More Than Half of All Outstanding Common Stock

SOUTHLAKE, Texas, March 30, 2026 (GLOBE NEWSWIRE) -- American Fusion Inc. (OTC: AMFN) (“American Fusion” or the “Company”), reports that it has successfully obtained a default judgment from the Superior Court of Washington, King County ordering the cancellation of 1,683,000,000 shares of common stock that were improperly issued by prior managment. The Court entered an order on March 17^th confirming that the underlying transactions pursuant to which the shares were issued were never consummated and are rescinded and void.

"We are very pleased to have secured the cancellation of these 1.683 billion shares ahead of the first quarter's close this week," said Richard Hawkins, CEO of American Fusion Inc. "This action ensures that our inaugural quarterly filing as a fully reporting company will accurately reflect the correct issued and outstanding share count, market capitalization, and consolidated financials, which, following the completion of the Kepler Fusion Technologies merger in February 2026, now incorporate the full value of our intellectual property and technology assets. The result is a capitalization table and corporate structure that faithfully represent the Company's current position and true enterprise value."

Completion of Final Major Corporate Milestone

The share cancellation represents the final major action in a series of corporate governance and regulatory milestones undertaken by the Company to establish a more transparent and compliant public company platform. Those milestones, all of which have now been completed, include:

1. Court Ordered Cancellation of 1.683 Billion Improperly Issued Shares. The Company pursued and obtained a default judgment from the Superior Court of Washington on March 27^th cancelling the shares improperly issued in connection with transactions for which no consideration was delivered, restoring integrity to the Company's capitalization structure. The Company is working with its transfer agent to implement the cancellation and expects the process to be completed and reflected on the Company's records prior to the end of the current quarter.
2. Completion of a Two Year PCAOB Audit. The Company completed a comprehensive audit of its financial statements by a PCAOB registered independent auditor, establishing a foundation for financial reporting and regulatory compliance.
3. Corporate Name and Symbol Change with FINRA. The Company completed its name change to American Fusion Inc. and its trading symbol change to AMFN through the Financial Industry Regulatory Authority, aligning its public identity with its strategic direction following the Kepler Fusion Technologies merger.
4. Filing of Form 10 Registration Statement with the SEC. The Company filed its Form 10 registration statement with the U.S. Securities and Exchange Commission as part of its transition toward becoming a fully reporting public company. The Company has received notification from the SEC that the filing will not be subject to further review and is expected to become effective automatically 60 days following the date of filing, which the Company expects to occur on May 14, 2026, in accordance with applicable rules.
5. Completed Business Combination and Purchase Price Accounting.   The Company completed the business combination on February 27, 2026, pursuant to which Kepler Fusion Technologies merged with the Company. In connection with the transaction, the Company is completing purchase price accounting and related valuation analysis in accordance with applicable accounting standards, which is expected to be reflected in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, which the Company intends to file with the SEC on or before May 15, 2026.
   

With these milestones completed, the Company’s current strategic priorities are focused on pursuing a listing on a national securities exchange and advancing the commercialization of Kepler Fusion Technologies’ Texatron aneutronic fusion platform.

Brent Nelson, CEO of Kepler Fusion Technologies, added, “With the completion of these administrative and corporate actions related to closing and restructuring, the Company is now positioned to focus on execution. Our priorities moving forward include capital formation, advancing development of our initial units, building out operational infrastructure, and securing key partners and materials across our supply channels. This is where our emphasis shifts toward delivering operating results.”

Related Litigation Matters

In related matters, the Delaware Court of Chancery has denied motions seeking expedited proceedings and preliminary injunctive relief in a separate action relating to corporate control and governance claims asserted by the same individual. Following a hearing, the Court determined that the plaintiff failed to establish a colorable claim to ownership of the Series 2020 super voting preferred share at issue or any risk of imminent harm.

The Company has advised the Court that it intends to file a motion to dismiss and is proceeding in accordance with the briefing schedule established by the Court. The Company will continue to respond to the matter through the normal course of legal proceedings.

For more information about Kepler Fusion Technologies and its Texatron™ platform, please visit: www.keplerfusion.com and americanfusionenergy.com

About American Fusion Inc.

American Fusion Inc. (OTC: AMFN) i formerly Renewal Fuels, Inc. (OTC: RNWF), is an advanced energy platform company focused on the development and commercialization of fusion energy technologies through its wholly owned subsidiary, Kepler Fusion Technologies. Following its previously announced merger with Kepler, the Company is has changed its name and is operating under the American Fusion brand. The Company’s strategy is centered on building a scalable, infrastructure-grade fusion energy platform supported by proprietary technology, disciplined intellectual property development, and long-term commercial deployment objectives. For more information about American Fusion, please visit: americanfusionenergy.com

About Kepler Fusion Technologies

Kepler Fusion Technologies is an advanced energy technology company developing the Texatron™ aneutronic fusion platform. Kepler’s technology is designed to support modular, infrastructure-grade deployment for industrial, commercial, and grid-constrained applications. The Company’s development strategy emphasizes system-level engineering, disciplined intellectual property protection, and scalable architectures intended to support long-term commercial operation. Kepler Fusion Technologies operates as a wholly owned subsidiary of American Fusion Inc. (OTC: AMFN) For more information about Kepler Fusion Technologies and its Texatron™ platform, please visit: www.keplerfusion.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company’s plans, objectives, expectations, and intentions, such as statements relating to technology development and commercialization, patent filings, regulatory initiatives, SEC registration, including the expected effectiveness of the Company’s Form 10, audit completion, exchange uplisting, and future business operations. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “potential,” “should,” and “will” identify forward-looking statements. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including risks related to technology development, intellectual property protection, regulatory approvals, capital availability, audit and SEC reporting timelines, including the timing and effectiveness of the Company’s Form 10, exchange requirements, litigation matters, and general market and economic conditions. This release is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The Company undertakes no obligation to update forward-looking statements except as required by law.

Corporate Communications

IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.