Tuesday, November 22 2016 10:01 AM, EST DRNK Retires 2.5 Billion of Common Shares
Baystreet.ca "Standard Equities Feed"
SCOTTSDALE, AZ / ACCESSWIRE / November 22, 2016 / 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.
"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 ."
Currently the Company has negotiated letters of intent to acquire the assets of two companies:
- Essential Marketing Systems, LLC , of Scottsdale, Arizona
- ChoiceAdz.com, Inc. , operating as BizConnect360.com, of Yorba Linda, California .
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 the Company's product lines to offer customers a bundled suite of advertising and business services from a streamlined and direct platform.
These acquisitions are anticipated to be completed by December 15, 2016 . These acquisitions will be achieved by using the newly issued preferred shares and there will be no dilution to the existing common shareholders.
"I believe that the time to strike is now," continued CEO, David Mersky . "We aim to be a large and successful business presence in the Cannabis Industry. And we are grateful to our shareholders, new and old, for sticking by us. Retiring these many billions of shares is just one of the ways we are planning for success. We look forward to keeping you abreast of our progress in the near future."
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.
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