SHMN Announces Its Outlook and Action Plans After Corporate Changes.
09/21/2018 posted in Press Releases
CHINO HILLS, SEPTEMBER 21, 2018 – SOHM, Inc. (Pink Sheets: SHMN), a generic Pharmaceutical, Nutraceutical and Cosmeceutical company that produces and markets generic drugs covering many treatment categories is pleased to announce its outlook for remaining year of 2018 and action plan after going through recent corporate changes.
As we have announced last week, Mr. Baron Night was appointed as the sole member of the Board of Directors, President and CEO for SOHM, Inc. SOHM’s management appointment of a new CEO/President was necessary due to SOHM’s previous CEO and President wanted to pursue different career goals and had been discussing this change within for several months. As a matter of fact, outgoing President and CEO was keen on appointing a new CEO and relive her responsibilities so she could pursue her personal goals and vision. Hence the company believes that the changes made brings fresh new leadership to the Company.
Further, Mr. Night stated that his appointment has come at a time when the Company is going through its transition from almost no activities for a few years to more proactive activities in coming days and years. He stated that his educational background of an MBA with finance and 40+ years of employment in various industries will enable him to help build the company to better credibility and transparency. “I am glad to take over the company leadership and I am happy to share my view points and vision about the company,” said Mr. Night.
Mr. Night stated that his prime goal and actions would be to work towards the company vision “Globalè Prospèro” and implement certain actions towards achieving its goal. The Company had previously set a goal to reach certain achievements by year 2020 but due to various hurdles, it has revised this goals to year 2022 or 2024. In the coming weeks after thorough study and consultations and planning, SOHM will provide additional updates.
Mr. Night also said, “The company’s operations will continue as planned by my predecessor for revenues and operations and development and not limited to only manufacturing, sales and marketing and finance but working and analyzing to adopt new technologies in coming days. This could include blockchain or supply chain integration or any other avenues.”
The company currently has manageable capital for its operations, with reduced operational costs. The company is not intending to conduct any reverse split but in coming days/weeks and months, the company will be considering a share buyback program. At the appropriate time, the company may make an announcement, if the company decides to pursue a buyback program after appropriate due diligence and consultation from our legal counsel. The company has not conducted a reverse split since 2008, when new management had taken over the company and was attempting to restructure the company’s capital stock. After a change in management in 2008, the company demonstrated very good growth until 2014, at which time the health of the company’s then-President, the company suffered drastic drop in its revenues. However, during the current year, management is encouraged by the orders it has received from its buyers and believes the future is bright.
The company has received its approval from OTCmarkets.com to use the OTC News & Disclosure Service to upload its financial statements and provide other required disclosures. The company is working with its legal counsel to cause its last two (2) years of financial statements and interim financial statements for the period ended March 31, 2018 to be made publicly available on OTCmarkets.com very shortly. Our March 31, 2018 financials are already published on our website.
There are still some doubts in minds of some of investors about the 108+ million shares of common stock issued by the company in April 2018. The company’s legal counsel clarified that these shares were issued to a financial institution in cancellation of old promissory notes owed by the company and no member of the company’s management received any shares nor were any of them associated with financial institution. Due to a confidentiality clause of the agreement, the company cannot release the name of institution.
The company has remained transparent previously and we are committed for transparency within guidelines and rules and working consistently towards it. “Our operational and revenue generation efforts are ongoing and we are confident of achieving our revenue target for the year 2018 and beyond”, stated Mr. Night, President and CEO.
About SOHM, Inc.
SOHM, Inc., is a growing generic pharmaceutical manufacturing and marketing company with a vision “Globalè Prospèro” that tries to build continuous growth. SOHM manufacturing and marketing targets the rapidly growing healthcare segments such as Nutraceuticals, Cosmeceuticals, and other major therapeutic segments. SOHM is headquartered in North America with manufacturing in India as well as strategic alliance with US manufacturing facilities. Although SOHM’s generic pharmaceuticals are exported globally and was introduced to the USA in early 2013, SOHM continues its focus on distribution to emerging markets in Africa, Latin America, and Southeast Asia.
To know more about SOHM, Inc., visit www.SOHM.com
Safe Harbor Statement:
This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on for the most recent fiscal year, our quarterly reports uploaded from time-to-time on OTCMarkets.com.
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