Refresher: Update on DRNK Dec 2017 https://ih.adv
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Posted On: 02/25/2018 8:53:27 AM
Refresher: Update on DRNK Dec 2017
https://ih.advfn.com/p.php?pid=nmona&article=76272276
While the company has not issued press releases over the last few months, CEO, David Mersky, indicated, "I am aware that the lack of communication with our shareholders has been a genuine cause for concern. I'd like to take this opportunity to advise our shareholders and the public that operations for NOHO are very active. I am engaged in positioning NOHO for the future and want to assure our shareholders that we are looking forward to providing updates on this process as they occur.
Mr. Mersky further provided, "It has been a lengthy process, but I'd like to remind everyone that I took over NOHO by accepting 54 billion shares, conveying 90% of the common stock at that time. Shortly thereafter, between converting all of my common stock to preferred and then cancelling that class entirely, we reduced the amount of shares to approximately 6 billion, before the conversion of pre-existing notes. Today, the current shares outstanding is approximately 9.2 billion, which was achieved without effecting as reverse-split, as promised. The 25 billion authorized but unissued shares must remain temporarily as a reserve for the remainder of the convertible notes. Management believes these notes will not be converted and will be handled in another manner. However, if in the restructuring process, the company incorporates a plan, which contemplates a reverse-split, I am announcing today that the decision will be put to the shareholders for vote and I will abstain from using the controlling preferred class B shares in that event."
https://ih.advfn.com/p.php?pid=nmona&article=76272276
While the company has not issued press releases over the last few months, CEO, David Mersky, indicated, "I am aware that the lack of communication with our shareholders has been a genuine cause for concern. I'd like to take this opportunity to advise our shareholders and the public that operations for NOHO are very active. I am engaged in positioning NOHO for the future and want to assure our shareholders that we are looking forward to providing updates on this process as they occur.
Mr. Mersky further provided, "It has been a lengthy process, but I'd like to remind everyone that I took over NOHO by accepting 54 billion shares, conveying 90% of the common stock at that time. Shortly thereafter, between converting all of my common stock to preferred and then cancelling that class entirely, we reduced the amount of shares to approximately 6 billion, before the conversion of pre-existing notes. Today, the current shares outstanding is approximately 9.2 billion, which was achieved without effecting as reverse-split, as promised. The 25 billion authorized but unissued shares must remain temporarily as a reserve for the remainder of the convertible notes. Management believes these notes will not be converted and will be handled in another manner. However, if in the restructuring process, the company incorporates a plan, which contemplates a reverse-split, I am announcing today that the decision will be put to the shareholders for vote and I will abstain from using the controlling preferred class B shares in that event."
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