SCOTTSDALE, AZ / ACCESSWIRE / December 29, 2016 / On December 28, 2016, NOHO, Inc., a Wyoming corporation (the Company) announced the following:
Although the Share Exchange Agreement ushered in new management on September 9, 2016, the Company resumed full-scale operations after bringing the financial reporting current as of October 14, 2016.
In the span of just two months, we have acquired three companies, consolidated another and are actively engaged in negotiations to acquire two additional companies at this time. Once completed, these properties will continue to add synergy to our overall suite of products. The Company will provide further details relative to these acquisition targets as they occur.
We are pleased to announce that your company has rebounded from a negative shareholder equity position to a positive net worth of approximately $4.3 Million. Total outstanding debt has been reduced by 70%, while the Company retired 54 Billion shares of common stock issued pursuant to the Share Exchange Agreement. As a result, there are less shares issued and outstanding today than represented in the November 17, 2016 filing.
The campaign to re-launch the NOHO 2OZ shot is well underway and we are on target to begin generating sales revenue in January 2017 in the burgeoning international market. Plans are also in motion to reintroduce the product in the U.S., as the Company is developing a concept for a new formulation for direct consumption as well as for Cannabis infusion.
The new telephone sales center will open on January 2, 2017, as planned, and the Company is moving forward quickly to becoming fully reporting, in anticipation of significant growth and transparency with our shareholders.
In an effort to engage directly with our shareholders and the public, we will be introducing Live Streaming from our sales center as well as scheduling the NOHO "Fireside Chat" where management will be available to answer questions about our operations and plans for the future. Further updates will be provided as we continue to update our new website.
Finally, we want to thank our investors and shareholders who have supported us since new management has assumed operations. While we have accomplished much in a very short time, our plans for 2017 are even greater. We look forward to sharing continued successes with you as we move into the New Year.
Go DRNK.
Safe Harbor for Forward-looking Statements:
This news release may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the companys progress, business opportunities and growth prospects, they are based on managements current beliefs and assumptions as to future events. However, since the companys operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
Investor/Media Contact:
Investor Relations Department
info@nohodrink.com
SOURCE: NOHO, Inc.
NoHo, Inc. (DRNK) Stock Research Links
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