Hiru Corporation (HIRU)

[QuantumTravesty]

GLENDALE, ARIZONA – May 17, 2023 (OTC MARKETS) – Hiru Corporation (the “Company” or “HIRU”) would like to announce that it anticipates instituting a common stock repurchase program.
The Company filed its 1st Quarter ended, March 31, 2023 disclosure statement (including unaudited financial statements and notes thereto) with OTC Markets, Inc. on or before May 13, 2023. The Company now anticipates starting a Common Stock Repurchase Program (“Repurchase Plan”). Pursuant to this Repurchase Program, the Company’s goal will be to purchase up to $25,000 USD of its Common Stock per month for the next 2 calendar years and retire it to treasury. The goal of this Repurchase Program would be to cancel enough of the Company’s issued and outstanding Common Stock to lower its issued and outstanding Common Stock to under 1,500,000,000 (resulting in approximately a 23% reduction). Upon meeting this goal, the Company will then lower its authorized Common Stock to 1,750,000,000 shares of Common Stock.
Ms. Kathryn Gavin (President and CEO of the Company), states..."Over the years the Company has instituted business goals set toward maximizing shareholder value. The planned common stock repurchase plan will be structured with this same goal in mind. At this point, management feels that our market valuation and current market price are at a point that provides a wonderful corporate economic opportunity to remove part of our issued and outstanding common stock from circulation. The Company plans on providing a monthly report of the Common Stock, not quarterly as required by SEC rules, that was repurchased and sent to treasury for cancellation. We feel that this Common Stock repurchase program will be in the long-term best interests of the Company and its shareholders as we continue to grow our top line revenue quarterly and expand our operational footprint to meet our customers increasing demand for our co-packing capabilities.”
Under the rules for a stock repurchase program which was recently updated by the SEC, even though it is not applicable to the Company as we are not currently a fully reporting issuer under the Securities and Exchange Act of 1934, the Company plans on reporting potential Common Stock repurchases for cancellation in a tabular format which will show each the daily aggregate repurchases which will include: (1) the class of shares – Common Stock; (2) average price paid per share; (3) total number of shares purchase, including the total number of shares purchased as part of the publicly announced plan; (4) aggregate number of shares or approximate dollar value, that may yet be purchased under the plan; (5) total number of shares purchased on the open market; and (6) the total number of share purchased that are intended to qualify for the safe harbor in Rule 10b-18 and separately the number of shares purchased pursuant to a plan that is intended to satisfy the affirmative defense conditions of Rule 10b5- 1(c).