NEW YORK, Feb. 08, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- On4 Communications (OTCPINK: ONCI ) is pleased to announce the following corporate update from CEO Steve Berman:
BUSINESS
Shareholders, I am happy to report that we have reduced the OS of On4 Communications by 1.4 billion shares. For the 12 months ending Oct 15 2018, we reported an OS of 4,505,705 518. The new OS is now 3,105,705,518. In addition, we are working with the past CEO to retire the 30 million preferred shares that are on the books. I expect this will be done within the next week or so. These shares are issued in his name and cannot be retired unless certain criteria is met. The shares can never be converted to common but I want them off the books.
GIFTCARDEXCHANGE.SHOP
As we have discussed giftcardexchange.shop is moving very quickly. We have met with the web designers and have the beginnings of a platform. I have also met with 2 large NY department stores as well as 2 health and beauty stores about buying gift cards at a big discount to populate the site. I will also be populating the site with $3,500 worth of gift cards that I have personally that I have never used. These include gift cards to Sephora, Dicks sporting goods, Ruby Tuesday, Target, Fridays, and a host of others. I am hoping we will be up and running by the end of July. If any of you want to sell your cards that you are not using pls e-mail me at On4company@gmail.com
DENTAL
We have not discussed this in a while but it is still on the table. I have reached out to 3 large urgent care companies about renting space in their centers and becoming their dental provider. I was told by one urgent care provider that 25 percent of all urgent care walk ins are dental related. The only thing the doctor can do is give the patient a motrin and send them home. I still believe that this is a big opportunity and a huge profit center for the company.
PHARREL PROTECTION
We are currently in the first week of a 3 week test with one of the largest roofing companies in the USA and Canada. This company has over 1200 light trucks and vehicles. We have added many new features for this test including hard braking and fast turns, which only makes our distracted driving product that much better.
Through Pharrel, we are in contact with large machinery companies including Cat and Deere as well as large mining companies including Rio Tinto, Bhp and Vale for our Bfound mobile product and I believe we will be testing very shortly. The heavy truck business is a huge opportunity and we are moving forward everyday. This is an untapped market and we are the first to be there.
2 ND PRIVATE LABEL
The 2 nd private label is very close to being done. I spoke to the company yesterday and the ads are still not approved. I am hoping they will be done next week and I can announce the deal. I can tell you the details of the deal.
We are dealing with one of the largest dealer groups on the east coast with over 60 dealerships. The deal is 20 units in each dealership to start at $200 net to us, or $240,000 per month. This will roll out over a month. At present we have shipped 30 dealerships with the rest to be done in the next 2 to three weeks. They don’t want to release until the ads hit the market. This will be the largest deal we have done and I believe it will add major revenue to the bottom line. In addition, we are in talks with three other companies regarding private label opportunities; two in Europe and one here in the USA SIFTHOUSE
On September 14, 2018 the Company announced that it had signed a letter of intent to purchase 75% of a Craft Cannabis called Sifthouse BC for a total consideration of $1million contingent upon Sifthouse BC obtaining a license to distribute Cannabis related product in Canada. The plan is to grow highly profitable specialty blends of craft Cannabis.
This business is about to explode and we are in on the ground floor. It is my expectation that big tobacco and spirits companies will be in control of this business going forward and the expectations and potential profits will be amazing. As markets and countries open, we will be able to franchise our company to every city that makes cannabis legal over the next few years and I believe craft growers will be the biggest part of the cannabis boom. The company’s investment to date is $100,000.
As we speak we are in talks to lease 10,000 square feet of space in Vancouver by the river. This business has taken off and companies are making money hand over fist.
I believe the biggest part of this business will be craft Cannabis.
HEXAGON
I am sorry to keep having to include this in the letter but I still get messages from people accusing me of doing a Reverse Split.
"ALL CAPS DEEMED NECESSARY HERE: LET ME SAY THIS AGAIN, AGAIN, AGAIN and AGAIN: THERE WILL BE NO REVERSE SPLIT." "LET ME SAY THIS AGAIN AS WELL: THERE ARE NO PLANS TO DO ANOTHER 3A1O"
So if you don’t understand it, again, there are no plans on the table to do a reverse split.
- The company is in a great position to capitalize on new markets.
- Distracted driving is an epidemic in the world and is only getting bigger.
- Cannabis is one of the fastest growing business led by total legalization in Canada with 10 other countries to follow.
- We have Private label deals in place and we are creating new revenue streams.
- We are positioned for the future and will ride the wave.
- We are now branching out from our original model for the company, which was to sell in car dealerships and moving into global reach in all areas.
- I am very excited for our continued growth in all aspects of our company.
- We have a very bright future
About On4 Communications On4 is a holdings company with an aggressive focus of acquiring proven and profitable businesses. Our first project is focusing on businesses operating in the $1.7 trillion U.S. healthcare industry. Our newest targeted businesses are operating in the trillion-dollar mobile App space. Our first acquisition in the mobile App space is FMS Marketing, a global creator and distributor of mobile Apps for Android and iPhones. We are also targeting businesses to acquire and joint venture within the medical marijuana and emerging MJ ancillary products space.
Forward-Looking Statement This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission, which are available for review at www.sec.gov , to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT INFORMATION Contact: On4 Communications, Inc. On4Company@gmail.com (323) 487-0389
