PLAYA VISTA, Calif., Sept. 27, 2018 (GLOBE NEWSWIRE) -- American Premium Water Corporation, (OTC Pink: HIPH) (the “Company”) fresh off the release of it’s market front running LALPINA Hydro CBD beverage, is positioning itself for a strong fourth quarter, with a number of acquisitions in the pipeline. The Company has identified four targets, three within the CBD/THC sector, and is currently engaged in active negotiations.
Ryan Fishoff, CEO American Premium Water Corporation commented: “It has been a busy month with the launch of our LALPINA Hydro CBD beverage. While there were some initial teething issues with the website and delivery logistics, we have been working to address them and don’t anticipate any further complications. Additionally, some of the acquisitions that we are working on are strategic, which will ensure quicker delivery and turnaround times for orders. All the acquisitions that are currently under consideration fit within the Company’s ‘Brand.Luxury.Lifestyle’ corporate strategy that was unveiled earlier this year. With my (M&A) background, I see a tremendous amount of deal flow, but management and the Company want to ensure that any acquisition that is completed fits within the long-term vision and business plan that will add shareholder value. I just returned from a productive trip to Los Angeles where I met with parties that we are in discussion with. I look forward to updating the shareholders in the coming weeks about the progress on these transactions.”
The Company has been working with OTC Markets to provide the necessary clarification to remove the Yield sign on the Company page. This process has been done in tandem with preparations for the Company to become fully reporting. As part of this process, a number of items from 2017 were reexamined and re-stated. In an effort to comply as quickly as possible with OTC Markets and in-turn bring the Company’s financials ready for a PCAOB audit, some balance sheet items will need to be re-stated in the next filings. This includes convertible debt, which has not changed from the prior numbers – for the sake of clarification, that number is $364,422. The Company’s goal is to file a Form-10 by the end of the year.
“We are working with OTC Markets to clarify any questions they have to remove the yield sign. Since I have become CEO, providing transparency to shareholders has been one of my main initiatives. I have also been cognizant of keeping the balance sheet as clean as possible, and I continue to work to ensure that the Company keeps its debt to equity ratio as low as possible. In addition, while the Company is exploring avenues to retire shares as we previously announced, the Company raised the number of authorized shares to 450,000,000 in anticipation of acquisitions in the ensuing quarter. I want to reiterate that any shares that are issued in any transaction will be restricted, which will not vest for a minimum of one calendar year,” added Mr. Fishoff.
Mr. Fishoff has been invited to appear on the Uptick Newswire Radio show on Thursday September 27, 2018 to discuss in more detail the Company’s goals for the remainder of the year. To listen to the interview, please visit www.upticknewswire.com for details when the interview will be released.
American Premium Water Corp is the publicly holding trading company that owns LALPINA HYDRO, LALPINA HYDRO CBD, Gents, Worthy, and FashionCoinX.
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors of American Premium Water Corporation
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