SOHM Names Financial Veteran Baron Night as CEO and President
Expert In financial sector for more than 40 years in different industries, SOHM looking forward to getting the expertise of him
CHINO HILLS, SEPTEMBER 10, 2018 – SOHM, Inc. (Pink Sheets: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering many treatment categories announced today the appointment of Baron Night President and CEO for SOHM, Inc. effective immediately. Mr. Night’s appointment fills an important role on SOHM’s team. SOHM believes that Mr. Night’s 40+ years of experience in various industries will be a great asset to the company. Mr. Night has also been named to the Company’s Board of Directors.
Mrs. Swati Shah has voluntarily resigned from the firm as President, CEO and Director effective immediately for personal reasons upon acceptance of Mr. Night’s consent. The Company extends and wishes to express its gratitude for providing her leadership during this recent critical time. The Company wishes her all the best for her new endeavor. As previously announced, the Company expects pharmaceutical sales to be a significant contributor to revenue and earnings in 2018.
Mr. Night’s thorough experience in providing leadership to various companies and his contacts and experience in emerging markets will strengthen the position of the Company and allow for large scale distribution of generic drug lines,” stated outgoing President Swati Shah.
SOHM Announces Its Outlook and Action Plans After Corporate Changes.
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
SOHM, INC. ANNOUNCES ITS 3RD QTR. 2018 RESULTS AND UPDATES
CHINO HILLS, NOVEMBER 26, 2018 – SOHM, Inc. (Pink Sheets: SHMN), is a generic Pharmaceutical, Nutraceutical and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories. Management is very pleased to announce 3rd quarter revenues of $397,688 as of September 30, 2018. Revenue growth for the first nine months of 2018 increased by 228% as compared to the annual gross revenue of $173,955 for the year 2017. A gross profit of $183,134 was realized in just the first nine months of 2018. An increase of 177% when compared to the $103,366 twelve-month gross profit for the year 2017.
Management’s operational and development goals are on track.
Mr. Baron Night, company CEO, added that Company growth was made possible by his predecessor’s continuing focus on adhering to Management’s operational and development goals during the year 2017 and 2018.
Mr. Night states that the company has not issued any stock to anyone including promoters, officers, directors, and/or employees in the last several years. The purpose of the stock issued in April 2018 was to retire financial notes as explained by corporate counsel. Company management has no immediate plans to engage in any major restructuring of its share structure. Every company has revenue growth challenges. We are working towards reducing costs, stabilizing revenue markets, and improving growth.
SOHM, Inc., Signs Strategic Alliance With Manufacturing Unit in Southern California and Expands Product Base and Revenue Sources.
Chino Hills, CA – December 21, 2018 – SOHM, Inc. (Pink Sheets: SHMN), a generic Pharmaceutical, Nutraceutical and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today the signing of a strategic alliance with a manufacturing unit in Southern California, USA. This alliance strengthens both SOHM’s manufacturing capabilities within the US and it’s exports to other countries.
CEO Baron Night expects this alliance to strengthen company’s market penetration in OTC and prescription (Rx) drug products especially in the skin care and cosmeceutical sectors. Revenue growth in key OTC and Prescription (Rx) U.S. markets should also occur. Mr. Night added, “we are confident that this alliance will have a positive impact on SOHM’s revenue growth starting in 2019, will continue to grow over the next several years, and is in alignment with management’s visions and goals.”
Mr. Night further stated, “Our manufacturing alliance partner operates a 20,000 square ft. Southern California facility that is FDA certified and OTC and Prescription (Rx) drug and cGMP compliant. They specialize in product development and the manufacture of skin, hair, and body care products as well as color cosmetics. This manufacturing house not only has over 4500 formulas available and accessible to us but, has the capability to modify these formulas to suit our as well as our client’s needs.”
SOHM, Inc., Enters into Master Supply Agreement with US based Pharmaceutical Company
CHINO HILLS, CA / ACCESSWIRE / January 7, 2019 / SOHM, Inc. (OTC PINK: SHMN), a generic Pharmaceutical, Nutraceutical and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today the signing of a MASTER SUPPLY AGREEMENT with a US based customer to supply their OTC and Prescription (Rx) products. The manufacturing will be done through current agreements between SOHM and USA based facilities.
Mr. Baron Night, CEO, states that this new master supply agreement, when added to SOHM's 2019 products portfolio, will contribute significantly to the company's future overall growth. This agreement is just the beginning of SOHM's recent strategy, adopted by previous management, to smoothly increase its USA based manufacturing capabilities. This agreement is the result of persistent hard work by SOHM's predecessor as well as its sales and marketing team. The company's year 2019 revenue growth is expected up to 95% above the year 2018 figures.
Currently, SOHM expects more than 7 to 9 SKU orders from this customer.
An updated shareholders outlook for the year 2019 should be released shortly.
Mr. Night and management are very thrilled with this development and we continue to work towards our vision and goals for the company.
Mr. Baron Night, CEO, further added that "this customer is an international pharmaceutical marketing company and its products include prescription skin care, tablets, capsules, and topical dose form products that are sold through all major distribution channels in the United States which include national and regional wholesalers, distributors, chain drug stores, mass merchandisers, GPO's, managed care organizations and state and government facilities.
Customer's management team, with over 100 years of combined experience, have expertise in the sales, marketing, manufacturing, regulatory, legal, consulting, IT, warehousing, logistics, financial, and consulting aspects of the Pharmaceutical Industry. Sales efforts by this customer's management team, over the course of their careers, have generated gross sales in excess of $1 Billion Dollars. Customer's primary focus is to continually provide the highest levels of quality and service and achieve complete satisfaction in the products they offer. This Customer values industry relationships and is continuously expanding its product offerings."
SOHM, Inc. Announce Share Holder Update and Outlook for 2019
CHINO HILLS, CA / ACCESSWIRE / January 18, 2019 / SOHM, Inc. (OTC PINK: SHMN), a generic Pharmaceutical, Nutraceutical and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today some of developments with the company which it started during 2017 and 2018 regarding the outlook of the company for the year 2019 and beyond in their reentry into the US OTC retail, prescription, contract manufacturing and white label manufacturing and marketing space.
SOHM, Inc. has been working with partners since August 2017 to optimize SOHM's OTC, nutraceutical and prescription products of its customer and own product sell-through distribution partners in the huge retail and convenience store segments. As part of the process, the company has made several alliance agreements and contracts with suppliers as well as customers during 2018 and same were updated through its press releases.
Furthermore, SOHM's OTC generic as well as skin care products were introduced into the USA market between the year 2012 and 2015, however, due to the heart attack and health leave of its then CEO, the appropriate project launch was not carried out and was not followed up by the company the way it was planned for several years.
Now the company has been working and reviving its old distribution channels again during the year 2019 where SOHM's OTC products were tested on shelves back in 2nd and 3rd quarters of the year 2014. The company had received a very good response on its pilot project.
The company also is in negotiation with one of pharma company for the development of new products for them as well as for SOHM and is working to introduce and plans to launch some more new product segments in this year which is going to enhance the company's ability to generate sustainable revenue and rapid growth in 2019 and for the coming years.
Mr. Baron Night, President and CEO today states that SOHM has a very good and encouraging operation going on along with a good response from its existing contract and white label manufacturing customers. The company expects some more orders from them during this quarter as stated earlier. Mr. Night states that this development will help the company go beyond its current revenues and profitability during 2019. The management anticipates and expects its revenue growth more than doubling during the year 2019 compared to the year 2018 and overall profitability of around 38% during the year 2019.
The management is not intending to conduct any reverse split but in coming days/weeks and months, the company will be considering a share buyback program. The company is in communication with its counsel and 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. Current revenue and orders are enough for its ongoing smooth operations. We are working as per our goals and plan as stated earlier in our previous press release on September 21, 2018.
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 2019 and beyond", stated Mr. Night, President and CEO.
CHINO HILLS, CA / ACCESSWIRE / February 26, 2019 / SOHM, Inc. (OTC PINK: SHMN), a generic Pharmaceutical, Nutraceutical, and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today that its Board of Directors has formally approved the initiation of a common stock share buyback program.
SOHM remains focused on continuing efforts to revitalize its business operations, while simultaneously seeking to ensure that the current and potential shareholders remain apprised of ongoing initiatives - all of which will help to ensure our ongoing commitment to maximizing shareholder value.
Accordingly, Mr. Baron Night, President and CEO notes that "we acknowledge that SOHM's current cap structure is not optimal. Instead of a reverse split, we would rather begin taking concrete steps to reduce the company's current outstanding shares while ensuring that our investors do not see their holdings reduced. To that end, the Board of Directors has agreed to engage in a public market based common stock share buyback program."
The buyback program as currently planned will take place between March 1, 2019 and February 28, 2021, with an initial target of 10% of the current outstanding shares of SOHM, Inc. common stock (approximately 154,000,000 shares), with not less than 50% to be retired. Pursuant to the safe harbor provisions of Rule 10b-18, these shares will be acquired by SOHM on the public market, and will be subject to the manner of purchase, timing, price, and volume restrictions specified therein.
SOHM's plan to repurchase these shares is subject to change at any time upon adequate public notice, with the number of shares and definitive timeline to be decided by market conditions and the company's financial status. Any changes to this plan will be noticed via press release and/or filing with OTC Public Markets.
Dec. 2018 SOHM, INC. Files 3 Years 9 Months of Filings to Become "Pink Current"
Feb. 2019 SOHM, INC., Files SHARES BUYBACK PROGRAM
March 2019 2018 Annual Due/Late Stop Sign
May 15, 2019 1Q 2019 Due/Late Stop Sign
$$$ Revenue $$$
Revenue $397,688 first nine months of 2018
Management is very pleased to announce 3rd quarter revenues of $397,688 as of September 30, 2018. Revenue growth for the first nine months of 2018 increased by 228% as compared to the annual gross revenue of $173,955 for the year 2017. A gross profit of $183,134 was realized in just the first nine months of 2018. An increase of 177% when compared to the $103,366 twelve-month gross profit for the year 2017.
Management’s operational and development goals are on track.
SOHM management announce gross revenue of $ 287.371 for 1st and 2nd qtrs., company's combined gross revenue is approx. 65% more than last fiscal year’s total revenue. We are pleased with results & very confident in our operation and developments. $SHMN
July 17, 2018
SOHM, Inc. Reports $180,000 of Total Revenue and a Gross Profit of $95,292 for the First Qtr of 2018
Chino Hills, CA, July 17, 2018 (GLOBE NEWSWIRE) -- SOHM, Inc. (PINKSHEETS: SHMN) a globally-known generic pharmaceutical manufacturer, release its first Qtr of 2018.
YEAR END 2016 12 months ended Dec 2016 TOTAL REVENUE $124,261; GROSS PROFIT $94,006
YEAR END 2017 12 months ended Dec 2017 TOTAL REVENUE $173,955; GROSS PROFIT $103,366
3 Months Ended March 2018 TOTAL REVENUE $180,837; GROSS PROFIT $95,292
SOHM, Inc.’s Annual Financial for year ending 2016, 2017 and First Qtr 2018 Sohm, Inc.’s Annual Financial for year ending 2016, 2017 and first qtr. which is ended on March 31, 2018. We are glad that we have now released all financials. We also thank all our shareholders for support and patience and as we reiterate management is working towards more actions and determined to update progress in a timely manner moving forward and especially for financials.
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