The Chron Organization Acquires Alarm Licensing & Concludes Acquisition Discussions With SafetyNet
DALLAS, TX--(Marketwired - May 10, 2016) - The Chron Organization, Inc. (OTC PINK: CHRO), announced today that it has attained its required "Managers License" for purposes of becoming a licensed entity in the State of Texas that can sell, market and install home alarm/automation products and services.
On March 15th, the Company had made an announcement that it had entered into a Letter of Intent to acquire SafetyNet Security, a boutique based alarm installation and monitoring services company. The primary reason for acquiring SafetyNet was for its license, which would grant CHRO immediate entry into the industry. However, after working through the due diligence process, it was determined that certain issues arose which need more time to resolve resulting in the closing of the transaction being postponed until later this year.
As a result of the delay in closing SafetyNet, CHRO entered into discussions with other parties and has been successful in acquiring the required licensing.
Furthermore, Alex Rodriguez, President of CHRO, said, "While conducting these new discussions, we uncovered a new complementary business strategy that will be instrumental in advancing our servicing capabilities across the country. We are formalizing this new strategy and will incorporate it into our model over the next quarter."
Chairman Byron Young added, "Even though we were not able to effectively close the SafteyNet transaction as we originally hoped for, we did achieve our primary business goal in obtaining our licensing. We have also made some new strategic partners while uncovering a new and exciting strategy for the Company."
The Company is now making operational preparations for its planned sales and marketing initiatives.
ABOUT THE CHRON ORGANIZATION
The Chron Organization, Inc. (OTC PINK: CHRO) is a 21st century services company providing state-of-the-art Smart Home technologies and the next generation in energy utility services. The Company provides homeowners and businesses with the latest in security, monitoring and automation controls enabling homeowners and businesses to have a Smart Home and a Smart Business at an affordable price. CHRON combines that with its cloud-based, green energy services, reducing both their carbon footprint and their monthly energy expense. The Company's plan is to capture 5% of homeowners, while dramatically reducing the nation's peak electricity demand. To learn more about Chron Home Services, please visit the website at www.chronhomeservices.com.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT INFORMATION
INVESTORS & MEDIA CONTACT:
Email: Email Contact
Phone: (469) 626-5275
Investor Relations:
The Eversull Group, Inc.
Jack Eversull
President
972-571-1624
214-469-2361 fax
Email Contact
News 
Market Data 
Discover 
AI
