From the Desk of the President
Dear CHRO Shareholders & Friends:
First and foremost, Byron and I would like to wish each of you a wondrous and prosperous holiday season. We hope that you are enjoying your friends and family during this time, getting well rested and of course making your mental preparations for a fruitful and powerful 2018 as we embark upon the close of this year.
I am taking this time to write to you to make you aware of some recent events and corporate filings that we’ve made with the Securities & Exchange Commission (SEC). For those of you that we are not aware, all of our SEC filings can be located at our website, which is www.chronorganization.com, under the header tab called “Investor Relations”. Shareholders should check back frequently, on our website for all of the latest company news, press releases and formal SEC filings. The two filings that I want to bring your attention to are the filing post dated November 2, 2017, referred to as Form DEF 14-C and secondly is the one that is dated November 6, 2017 Form S-1.
As all may recall, back on August 23rd, we announced the trademark approval for the use of the name “Zenergy”, at that time, we also shared our upcoming plans to rebrand the entire company under, what we feel is a more appropriate, all-encompassing brand name of Zenergy; you can see that previous press release by clicking here. The Form DEF 14-C was filed as part of our rebranding and marketing efforts to bring more focus on our energy and smart controls business, our board of directors unanimously approved on October 18, 2017 the change of our corporate name to Zenergy Brands, Inc. In addition, the board of directors unanimously approved on October 18, 2017 to increase our authorized Class A Common Stock from 1,450,000,000 shares to 1,700,000,000 shares, which such shares will be issuable on such terms and conditions as the board of directors may determine from time to time. Subsequent to our board of directors’ approval of these amendments, the holders of a majority of the voting power of our voting stock, on October 18, 2017 approved, by written consent, the amendments. The consenting stockholders and their respective approximate ownership percentages of our voting stock totaled an aggregate of 78.8% of the outstanding voting stock.
Pursuant to Rule 14c-2 promulgated under the Exchange Act, the amendments discussed above will not be effected until at least 20 calendar days after the mailing of an Information Statement to our stockholders. The amendments have been filed with the Nevada Secretary of State. However, because the Class A Common Stock is quoted on the OTC Markets, the name change requires processing by the Financial Industry Regulatory Authority (“FINRA”), as well, pursuant to Rule 10b-17 of the Exchange Act in order for the name change to be recognized in the market for trading purposes. We hope to receive FINRA’s clearance prior to the expiration of the 20-day waiting period under Rule 14c-2, and we expect that the name change and the share increase will be effective in November 2017. Please stay tuned for more details on these changes, as there will also be a change in our ticker symbol.
The second filing that I referenced above, is our long-anticipated S-1 Registration. Before I elaborate on the same, I must inform you all that there are specific rules regarding marketing communications and announcements surrounding the S-1 Registration process. In simplest terms, the SEC requires that we undergo a “quiet period” for the thirty days prior to the S-1 Filing and then that we remain in that respective quiet period until the effective date. Therefore, my elaboration will be limited to the information that is already public and we urge you to read the preliminary Form S-1 that has been filed with the SEC. As you can surmise, the “quiet period” would explain the lack of information coming out in the form of press releases and postings. Historically, we have been very open, transparent and possibly even “familiar” with all of you. As we are now a fully SEC reporting company and our aspirations remain high, things will be a bit more formal moving forward.
As you all remember, we announced the Letter of Intent that we entered into early this year to acquire the licensed Retail Electric Provider in Texas, known as “Enertrade”. The primary purpose of the S1 filing is to give us the facility via the mentioned equity line of credit to complete the acquisition of the same. This is our plan, of course all of our business plans are forward looking statements and subject to the respective disclaimers surrounding all of our forward-looking statements and as relayed below.
In closing, I just want to remind everyone to stay tuned to the corporate website for all of the latest and greatest company information. In the coming weeks, we will be announcing the date and location for our Annual Shareholder Meeting – you will not want to miss this great event. I look forward to seeing each of you present as we embark on 2018. Thank you.
I remain sincerely yours,
Alex Rodriguez
CEO & President
The Chron Organization, Inc.
Soon to be Zenergy Brands, Inc.
P.S. Please stay tuned and informed for more updates.
