NoHo Inc (DRNK)

[Toxic Avenger]

NoHo no longer belongs to DRNK. Sorry.

They did keep the toxic notes though.

SCOTTSDALE, Ariz., Sept. 28, 2016 (GLOBE NEWSWIRE) -- On September 9, 2016, NOHO, Inc., a Wyoming corporation (the “Company”), by and through its Board of Directors and majority shareholder entered into a share exchange agreement (the “Agreement”) with Media360 Licensing, Inc., a Wyoming corporation (“Media360”). Pursuant to the Agreement, the shareholders of Media360 exchanged 100% of their shares of common stock of Media360 for 54,000,000,000 shares of common stock of the Company. As a result, Media360 shall become a wholly-owned subsidiary of the Company and the business of Media360 shall continue through the Company. Additionally, as a result of the Agreement, the Company will change its name to “Media360 Licensing, Inc.” and will request an OTC symbol change from its current symbol “DRNK” to “MDLC” or to an alternative symbol if requested by FINRA.

Spin-Out of Certain Assets and Liabilities. Within a reasonable period after the Closing Date, NOHO agreed to convey to a third party entity Mix 1, LLC (hereinafter “Mix 1”), all assets and liabilities of NOHO listed in the Agreement. NOHO agreed to indemnify Media360 for any and all damages, losses, settlement payments, in respect of deficiencies, liabilities, costs, expenses and claims suffered, sustained, incurred or required to be paid by such NOHO.

The assets that are being conveyed to Mix 1, LLC are as follows: i) all Intellectual Property of NOHO, Inc.; ii) websites, social media and point of purchase materials and displays; iii) all inventory and formulations; iv) furniture, computers and fixtures; and v) all contracts and distribution agreements.

The liabilities that are being conveyed to Mix 1, LLC are as follows: i) all deferred and accrued salaries of NOHO; ii) all accounts payable of NOHO; and iii) a Loan Agreement between NOHO and Presidio for $120,000.