NoHo Inc (DRNK)

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DRNK NEWS (ACQUISITIONS, SHARE RETIREMENT, FINANCIALS, NAME CHANGE, BUSINESS MODEL)

NOHO, Inc. to Reduce Authorized Shares - Company Plans to Take Action Against Previous Management
http://finance.yahoo.com/news/noho-inc-reduce-authorized-40-143500140.html
Noho, Inc. (OTC PINK: DRNK) today announced that the company plans on filing its Annual Report on the OTCPink Alternative Reporting System. The Company has successfully been re-instated to the OTC Disclosure and News Service and will publish their Annual Report for the year ended December 31, 2016 within the prescribed extension period of the extended filing deadline.

In conjunction with the Asset Purchase Agreement with Essential Marketing Systems (the "EMS APA", NOHO also agreed to assume a promissory note in the amount of $521,975 payable to Mersky (the "Mersky Note". On December 28, 2016, Mersky allocated 2,160,000 shares of Series B Preferred stock he already owned in exchange for the cancellation of the Mersky Note.
The Company plans on filing Amended and Restated Articles of Incorporation with the Secretary of State of Wyoming, whereby it will reduce the number of shares of authorized capital from 65,050,000,000 to 25,050,000,000; comprised of 25,000,000,000 shares of common stock and 50,000,000 shares of preferred stock.
Additionally, the Company and the Series B Preferred stock shareholders have agreed to reduce the conversion rights from the original conversion of 2500:1 shares of common stock to the following conversion of 140:1 shares of common stock. Previously, each share of Series B Preferred Stock converted to 2,500 shares of common stock, which equaled the 90% of the Reverse Merger. The new conversion rate of 140:1 brings the Reverse Merger percentage down to roughly 28% on a diluted, non-convertible basis. A portion of the 25,000,000,000 authorized but unissued common shares will be reserved for future acquisitions. Further, if any of the series B Preferred Stock were converted to common shares by an affiliate, they would fall under Rule 144, which requires a holding period and volume restrictions.
Management of the Company does not plan on any reverse stock splits through fiscal year 2017.
The Company and its major investor are discussing a freeze of any conversions of their convertible promissory notes in conjunction with a buy-back plan of the outstanding indebtedness. The Company is still obligated for the ACH daily payments under the terms of the notes entered into subsequent to the SEA.
The Company will have further updates next week on the following matters: the final agreement with the national distributor for the Company's Noho drink; the Target-Remarket acquisition, and other sales and marketing updates, including new products.

David Mersky, Chief Executive Officer of Noho, Inc., stated, "We are going to reduce the authorized shares down to twenty-five billion. We are keeping a portion of the twenty-five billion common shares for future acquisition/merger purposes. We are not considering a reverse split at this time. During the course of preparing our Annual Report for the year ended December 31, 2016, and since September 9, 2016, the date of the Share Exchange Agreement (SEA) between Media360 Licensing, Inc. and Noho, new management of the Company has discovered certain facts that were not disclosed in the SEA. This has contributed to the delay in completing the report, and the information disclosed by the Company will include information that was not previously disclosed in the SEA, but was known or should have been known by the Company's prior management before September 9, 2016. The Company remains committed to having future financial statements audited by a PCAOB firm and to be included in a Registration Statement on Form S-1. It took some time and expense to reach an understanding of the items of which we were not aware. As always, the Company strives to achieve full accountability and transparency for our shareholders."

Some of the items included in the report, that were not known as of the date of the SEA include:

On September 15 2015, a Default Judgment was obtained against John "Jay" Grdina ("Grdina" and Erin Naas, now known as Erin Grdina. Grdina was the CEO of the Company at the time. The judgment was for personal services to Mr. Grdina and had no connection to the Company. On April 12, 2016, the plaintiffs served a Writ of Garnishment upon the Company (the "Garnishee". The Company, under Grdina's management, did not respond to the garnishment, and, as a result, failed to appear and answer the April 27, 2016 Order Requiring Garnishee to Appear and Answer; accordingly, the plaintiff was granted a judgment against the Garnishee (Noho, Inc.) in the amount of $43,231.55. Current management was unaware of the judgment until March 2017.

On October 1, 2016, Typenex Co-Investment, LLC was granted judgment against the Company for $223,803 (the "Judgment". The Company was originally named as a defendant prior to September 9, 2016, the date of the SEA, and prior management failed to respond to the Complaint, or advise current management of the existence of the claim, eventually resulting in the Judgment. Current management was unaware of the judgment until March 2017.

On November 14, 2016, a judgment was entered for $130,963 to River North Equity, LLC. ("River North" against the Company. Prior to September 9, 2016, the Company was named in a Complaint filed by River North. Prior management of the Company failed to Answer the Complaint or advise current management of the existence of the claim, eventually resulting in the Judgment. On or around December 23, 2015, River North acquired for $100, a promissory note the Company had issued to JMJ Financial ("JMJ". The note balance to JMJ at the time River North purchased the note for $100 was $67,125. Current management was unaware of the judgment until March 2017, but has grounds to vacate the judgment based on jurisdictional and regulatory grounds.

The Company did not record any derivative liabilities on the balance sheets that were prepared as of December 31, 2015, March 31, 2016, June 30, 2016, and September 30, 2016. The prior accountants claim they are owed fees for their work for the quarter ended September 30, 2016. The Company disputes that claim and the accounting firm has been terminated.

Additionally, the Company's books and records, as of June 9, 2016, indicated convertible notes in the amount of approximately $721,000, however, current management has ascertained that the true amount, as of September 9, 2016, is approximately $896,000. The Company has also inquired to prior management regarding the previous amounts. Lastly, on December 2, 2016, new management of the Company terminated the prior transfer agent and engaged Interwest Transfer Company as the Company's new transfer agent.

The Company and its new management intend to litigate the three judgments described above with a goal to vacate same. The Company will vehemently defend itself and seek the opportunity to have its day in court, by responding to the initial complaints and asserting all defenses and counterclaims, if necessary, including the collectability of the notes due to regulatory issues. The Company is also seeking indemnification from previous management, as these complaints were not disclosed to the Company in the SEA dated September 9, 2016. Although, pursuant to the Spin-Off Agreement with Purple Investment Group, Inc., dated September 9, 2016, the 2,500,000,000 shares belonging to Dolce B Investments were transferred to NOHO as collateral and an initial guarantee of Purple Investment Group, Inc.'s assumption of liabilities of NOHO until such time as those liabilities are satisfied and no longer pose a contingent risk to NOHO, those shares were canceled, as previously announced.

NOHO Update on business model and accomplishments
http://finance.yahoo.com/news/noho-rolls-2017-high-140700844.html
Scottsdale, AZ -- December 28, 2016 -- InvestorsHub NewsWire -- 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. 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.

NOHO Launches International Sales of 2oz NOHO GOLD Shot
AccesswireDecember 8, 2016 http://finance.yahoo.com/news/noho-launches-i...00930.html
SCOTTSDALE, AZ / ACCESSWIRE / December 8, 2016 / NOHO, Inc., a Wyoming corporation (the Company), announced the following:
When the new management of NOHO, Inc. assumed operations in October, the plan was to combine the advertising technology platform and sales operations of the acquired companies under one roof and launch sales beginning in January 2017. The Company has reached these targets. NOHOs drink products did not immediately fit into that plan, as prior sales efforts had failed to secure sales and distribution for the Gold can and the 2oz. NOHO shot. Now, "we are very fortunate to have DIRECT RESPONSE MARKETING agree to create and run a customized, online sales campaign for the NOHO 2oz. shot," said NOHOS CEO, David Mersky. Direct Response Marketing is a leader in the development and management of online product sales outside of the United States, focusing operations in many of the worlds English speaking countries, such as the U.K., Australia, New Zealand, South Africa, and Singapore. The Company has 25,000 bottles ready to ship to fulfill initial sales and has additional existing inventory to quickly bottle 250,000 more. Direct Response has a proven track record in designing online offers and generating tens of millions of dollars in sales for products in the health and wellness space and has demonstrated expertise in optimizing online traffic to achieve unparalleled conversions. Upon successful completion of the initial launch, Direct Response will manage all international sales efforts, which include inbound and outbound telephone sales and customer service and has proposed an exclusive international distribution agreement which will pay NOHO, Inc. for customer acquisition, units sold, as well as a revenue share of ancillary product sales. In addition, the company has begun making steps to manufacture a new cannabis infused drink product line that would compliment our focus on the marijuana sector.

DRNK Announces Sales Launch of Placemaker
http://finance.yahoo.com/news/drnk-announces-sales-launch-placemaker-150000069.html
SCOTTSDALE, AZ / ACCESSWIRE / December 16, 2016 / NOHO, Inc. (OTC PINK: DRNK), a Wyoming corporation (the "Company"), announced the following: The Company has procured a license to Placemaker, a first-of-its-kind small business loyalty program that began as Supportland, serving the Oregon and nearby Canadian markets. After tremendous local success, the program has been rebranded to Placemaker following its national rollout. The network promotes local buying and awards merit points to customers for patronizing local businesses, which can be redeemed for products and services from other network merchants.
This not only further extends NOHOs reach into these local advertising markets, Placemaker is the first universal loyalty program that permits redemption nationally from all enrolled merchants who do not have to have any proprietary equipment to participate, as the program is contained on a secured web-based solution and does not charge merchants any transaction fees. In addition, all merchants will be listed and advertised in the Placemaker national directory, which gives local merchants an online presence for users to find them. The platform also provides first-of-its-kind metrics to small business merchants that track customer engagement and tell merchants what customers they share with other Placemaker businesses. Placemaker will be a featured service sold through the Company's outbound call center in January 2017.
As previously reported, the Company has begun the process of filing a registration statement with the Securities and Exchange Commission (SEC) to become fully reporting under the Exchange Act of 1934. In order to abide by internal rules of the major clearinghouses regarding non-reporting businesses operating in the cannabis space, the Company will not market its services to cannabis related businesses until we become fully reporting. NOHO CEO, David Mersky, said: "As soon as the Company is fully reporting, we will continue with our aggressive business plan in the cannabis industry."

NOHO Signs Letter of Intent to Acquire 'Target Remarket'
http://finance.yahoo.com/news/noho-signs-letter-intent-acquire-150000301.html
SCOTTSDALE, AZ / ACCESSWIRE / December 14, 2016 / On December 14, 2016, NOHO, Inc. (OTC PINK: DRNK), a Wyoming corporation (the Company), announced the following: The Company has negotiated a letter of intent to acquire, TargetRemarket, with an anticipated closing date of January 31, 2017. This acquisition target has done $500,000 in revenues for the 2016 test period. The Company is a related business component that was not made a part of the initial transaction with ChoiceAdz.com, Inc.
The Company is proud to announce that the acquisitions of Essential Marketing Systems, LLC (EMS), of Scottsdale, Arizona and ChoiceAdz.com, Inc. (ChoiceAdz), operating as BizConnect360.com, of Yorba Linda, California, have now been completed. ChoiceAdz.com has already done $350,000 in revenue in 2016 and is operating profitably. Its projected revenue for 2017 is well beyond $1,800,000.
These companies presently operate in the advertising technology space and the acquisitions will expand NOHO's product lines to offer customers a bundled suite of advertising and business services from a streamlined and direct platform. NOHO, Inc., CEO David Mersky stated: "To get these acquisitions done before the end of the year has been a gigantic effort and I want to thank the people on my staff for their hard work. The EMS acquisition will add an additional minimum $1 Million valuation to the Company's balance sheet as well as consolidate operations and support. Integration of the ChoiceAdz platform will allow the Company to launch sales from its new sales center opening in January 2017 and offer the full slate of services under the BizConnect360.com brand."
The Company also intends to consolidate Make It Rain Enterprises, Inc. (MIR), Inc., in a related party transaction, as a wholly owned subsidiary. MIR has provided acquisition consulting services that resulted in the recent acquisitions by NOHO. This transaction is anticipated to be accomplished without any issuance of stock.
CEO David Mersky continued: "Now that BizConnect360 has been acquired, the Company is focusing on a related business component that was not made a part of the initial transaction TargetRemarket."
Retargeting is a form of online advertising that uses cookie-based technology to track users as they move across the web. As initial display advertising results in low sales conversions, retargeting allows advertisers to follow prospective customers on many different sites as they browse the web and display their ads on multiple occasions. Studies show that retargeting increases conversions up to 70%. The main challenge in retargeting for small businesses has been the high cost and limited data. TargetRemarket has solved both of those concerns in line with the newly acquired BizConnect360 product suite, by using its proprietary ad technology to pass on significantly reduced costs to customers and provide access to highly targeted data sets that will maximize conversions for any marketing campaign. In addressing the acquisition, CEO David Mersky said: "This is the first legitimate retargeting product we've seen that is actually affordable for the small business owner."
The Company has just completed a logo contest for its new proposed name, IMBUTEK CORPORATION, at www.logomyway.com. The Company is asking shareholders to provide input to help choose the winning design. Please let us know your selection by emailing us at: [e-mail].

DRNK Closes Acquisition of 1Tapp - A Mobile Web Application Designed to Service the Cannabis Industry
http://finance.yahoo.com/news/drnk-closes-acq...00751.html
SCOTTSDALE, AZ / ACCESSWIRE / November 30, 2016 / NOHO, Inc. (DRNK), a Wyoming corporation (the Company) announced the following:
The Company has completed an asset purchase agreement to acquire 1Tapp from The Weaver Group, LLC, a mobile web application. The transaction was accomplished using a portion of the newly converted preferred stock already issued to the insider shareholders and there will be no dilution to the common shareholders.
1Tapp is the Company's new mobile web app that optimizes user interaction by providing an ease-of-use interface for customers to engage with the cannabis retail sector. The app allows customers to access and receive up to date information such as,
- Product promotions
- Rewards programs
- Gift cards
- Daily specials
- Store events
- Direct customer inquiry
- Pricing and new products
1Tapp gives cannabis dispensaries the ability to market directly to both patients and customers through a cost-effective web-based app.
CEO David Mersky, Chief Executive Officer of NOHO, Inc. commented, "This marks an enormous breakthrough in the Marijuana industry as dispensaries will no longer have to rely on stale directory sites that effectively prevent individual branding and do not provide metrics and user data. Dispensaries will now be able to take ownership of their own sales funnel, design their own engagement campaigns and compile their own customer data. "To facilitate our marketing plans for the 1TAPP app," continued CEO David Mersky, "We are opening a new state of the art telephone sales operation in Phoenix, AZ, located in the prestigious Biltmore area in January, 2017. Currently, through our subsidiary, Meda360 Licensing, Inc., we are nearing completion of our proof of concept in Arizona , where we have 120 host sights installed, featuring the Company's digital signage and media technology. The point of sale model will serve as the base for the Company to offer 1Tapp and other services as part of a larger suite of products, all designed for the small business to enhance customer engagement. Finally, it gives me great pleasure to report that this model will be rolled out nationwide. We look forward to announcing updates as developments occur.

Name change from NOHO, Inc. to IMBUTEK Corporation, seeking to trade under a new proposed symbol
http://finance.yahoo.com/news/drnk-closes-acq...00751.html
The Company has authorized its counsel to effectuate a name change from NOHO, Inc. to IMBUTEK Corporation, seeking to trade under the new proposed symbol of IMTK , or if not available then IUTK or IBTK.
This change is intended to more accurately reflect the nature of the Company's core advertising technology business . Until that process is completed, the stock will continue to trade under its current symbol: DRNK.

DRNK Retires 2.5 Billion of Common Shares
http://finance.yahoo.com/news/drnk-retires-2-...00974.html
On November 21, 2016, NOHO, Inc., a Wyoming corporation (the Company) announced the following:
The 2,500,000,000 shares of NOHO stock belonging to Dolce B Investments that had been pledged to the company as collateral for Purple Investment Group, Inc.'s assumption of liabilities of NOHO following the Spin-Off Agreement dated September 9, 2016 are being cancelled. After the cancellation, the issued and outstanding shares total 3,655,216,110.

Expansion of Cannabis Advertising Platform and Business Solutions.
http://finance.yahoo.com/news/drnk-retires-2-...00974.html
"We attended the Marijuana Business Conference & Expo in Las Vegas last week and the company had several high-level meetings with a number of firms to discuss potential acquisitions and product sales," stated CEO David Mersky, Chief Executive Officer of NOHO, Inc. "As a result of these meetings, the Company's Board of Directors has agreed to form a major division that will focus on the development of specialized advertising platforms designed for the Cannabis industry. Further, we will expand our offerings of industry products, financial tools and services, including software. Such highly focused targeting within the Cannabis sector will speed up our acquisition efforts. We are currently in talks with companies situated in California, Colorado and Oregon."


Quarterly Report Nov 17th 2016
http://www.otcmarkets.com/financialReportView...;id=162893
Total Assets: $ 4.5 mil
Net Income 2016: $ 3,6 mil

The new CEO, David Mersky, is an attorney (practiced law in the NY for 10 years as a litigation attorney ) PLUS was CEO of an elite and successful marketing firm (Time Jump) that specializes in developing products for web based offerings and uses its vast network of strategic partners to maximize sales conversions for its clients. Time Jump incorporates a comprehensive approach in the implementation of the sales process by providing solutions for inbound and outbound sales, customer service/CRM consulting and credit card processing.