$DRNK !! Massive News PHOENIX, AZ--(Marketwired -
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Posted On: 04/25/2017 12:26:35 PM
$DRNK !! Massive News PHOENIX, AZ--(Marketwired - Apr 24, 2017) - NOHO, Inc. (OTC: DRNK), a Wyoming corporation (the "Company"
, announced the following:
The Company has reached an agreement in principle with its 95% majority convertible note holder for a moratorium on conversions, relating to notes issued after March 7, 2015.
In addition to freezing conversions, the Company will maintain its ability to retire the outstanding notes in cash.
Pursuant to the agreement, NOHO will be forming a financial services division wherein a percentage of top line revenues will be allocated toward funding the debt repurchase plan. Details on the new division will be announced prior to May 31, 2017.
If the notes subject to the freeze are not repurchased by the Company, the parties have agreed to a restriction of stock sales, subject to a lockdown and leakout agreement, which is currently being finalized.
, announced the following: The Company has reached an agreement in principle with its 95% majority convertible note holder for a moratorium on conversions, relating to notes issued after March 7, 2015.
In addition to freezing conversions, the Company will maintain its ability to retire the outstanding notes in cash.
Pursuant to the agreement, NOHO will be forming a financial services division wherein a percentage of top line revenues will be allocated toward funding the debt repurchase plan. Details on the new division will be announced prior to May 31, 2017.
If the notes subject to the freeze are not repurchased by the Company, the parties have agreed to a restriction of stock sales, subject to a lockdown and leakout agreement, which is currently being finalized.
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