Fort Lauderdale, FL, March 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- DNA Brands Inc. is pleased to announce that the company has signed a fleet agreement with RideShare Rental (https://www.ridesharerental.com). In the coming days, DNA Brands will be announcing the purchase of its first set of cars in its fleet. The fleet will be made available to rent to Uber and Lyft drivers in the South Florida Region.
DNA Brands has obtained friendly financing in order to begin the fleet purchase process. The company fully intends to continue adding cars to its fleet monthly. The company has also begun a Reg A registration statement, working with a committed funder. Once the Reg A is accepted by the regulators, the company will be in a better position to add vehicles to the fleet at a greater speed.
Initially concentrating in the South Florida region, DNA Brands is the First fleet operator in the State of Florida with www.RideshareRentals.com and anticipates to cover the whole state by years end.
“Effective February 1, 2019, longtime consultant to DNA, Howard Ullman, joined DNA Brands management and was appointed to the position of President of DNA Brands. Howard brings a successful 35+ years of being a serial entrepreneur. Mr. Ullman will be in charge of implementing the RideShare side of the business. In the coming weeks, Howard will be conducting an interview with Uptick Newswire to explain the logistics of this fleet agreement, the Revenue model and take some investor questions. Any investor/ shareholder questions can be emailed to info@dnabrandsinc.com prior to the interview.
“Although DNA is a holding company and we do own an award winning beverage line and IP, Howard and I will be focusing on building out our Rideshare Rental fleet business. It is a very straightforward business model, which is not too capital intensive and has healthy margins,” stated CEO Adrian P. McKenzie.
In harmony with the latest news, DNA Brands will update the public in the near future as it:
- Announces the purchase of the first set of cars in the fleet.
- Announces when the fleet purchased is on the road, and producing revenue.
- Prepares plans to expand throughout the state of Florida.
- Expands beyond Florida due to Friendly financing that has been obtained and future milestone committed financing.
About the Rideshare/ Transportation Network Providers(TNP) Space:
A TNP company, also referred to as a rideshare company, provides prearranged transportation services for compensation through an Internet-enabled application or digital platform to connect passengers with drivers of vehicles for hire. TNP drivers with their vehicles join and become affiliated with TNP companies, and are then available to be dispatched through the TNP’s digital platform. Uber and Lyft are the leaders in the industry, with Uber’s valuation being about $120 Billion and Lyft’s valuation at around $15-$30 Billion Dollars.
With IPO’s of both Uber and Lyft, which are speculated to be in the near future, both companies are working diligently with US regulators to get to the public markets (it is speculated Lyft will IPO within the next few weeks). Investment banking professionals from around the world have been touting theses two expected IPO’s as the next major shift in the TNP sector. Some have even speculated that the Uber IPO could be the biggest Tech IPO ever in history.
Investors in Uber (who currently dominate the rideshare space) include those from Goldman Sachs, Microsoft, Saudi Arabia's Public Investment Fund and Japan’s Softbank. According to cnbc.com, their urban mobility platform is still growing, and Uber’s Gross bookings were $37 billion in 2017, up from $20 billion in 2016. Net revenue (the amount left after paying drivers) reached $7.4 billion in 2017, an increase of nearly 14 percent over the prior year. Also fueling the company's growth is UberEATS, which was launched in 2016. The food-delivery service is now available in 120 cities worldwide, and is actually bigger than the company's ride-hailing business in several Asian markets, including Tokyo, Taipei, Seoul, and South Korea.
Investors in Lyft have included CapitalG, Alliance Bernstein, KKR, Japanese retailer Rakuten and Canada's Public Sector Pension Investment Board. With all eyes on these two Behemoths, the playing fields and ancillary growth opportunities are plenty.
About Rideshare Rental.com
RideShare Rental (which is a wholly owned subsidiary of YayYo Inc.), bridges the gap between rideshare drivers in need of suitable vehicles, and rideshare companies whose brands depend on attracting and keeping drivers with higher-quality vehicles.
RideShare Rental rents cars to rideshare drivers, provides those drivers with insurance, and gives fleet operators a platform on which to rent their vehicles to the rideshare market. Their daily, weekly, and long-term rentals can be found in major cities like Los Angeles, San Francisco, San Diego, Dallas, Baltimore and now Sunny South Florida. New locations are opening each month across the United States. RideShare Rental is headquartered at 6600 Sunset Boulevard in sunny Los Angeles.
RideShare Rental most recent S-1 Registration statement filing can be found in the link below.
https://www.nasdaq.com/markets/ipos/filing.ashx?filingid=13005469
https://www.ridesharerental.com/
About DNA Brands Inc.
DNA Brands is a Holding company. The primary asset of the company is the two time award winning energy drink line (DNA ENERGY). The flavors are citrus, lemon lime, citrus sugar free, and cranberry raspberry sugar free flavors under the DNA Energy drink brand name. At present the company owns all the IP that developed the award winning energy drink line. Management at DNA is working to grow the business, on the premise of increasing growth and shareholder value. The company is also updating and reconstructing its website to better reflect the nature of future business. However at the moment, those of interest can always learn more about our latest accomplishment by clicking our link below
http://ridesharefleetofflorida.com
“As far as DNAX share structure is concerned. As of Friday March 22nd 2019, there was 11.9 Million shares issued and outstanding, of which approximately, three million shares are owned by insiders. Another 2 million shares owned by friendly investors/creditors, which leaves roughly 6.9 Million Shares of common stock in the public hands (float).
“Post Reverse (3500:1), most cost basis/ resistance is at ($0.35/share), everything under that is gravy, in my opinion. Over the past year and change, management has taken all the necessary steps to provide true shareholder value by limiting dilution, effecting a much needed reverse split, removing certain players that were in the deal, before me and working with Equity shareholders instead of Debtors. DNA Management would like to thank our loyal shareholders for their patience and support and now believes that company updates will be more frequent and of material matter, regarding this and other exciting projects,”
stated CEO Adrian P McKenzie.
DISCLAIMER
This press release contains statements that are "Forward-Looking" in nature (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). All Statements regarding the Company's financial position, potential, business strategy, plans and objectives for future operations are Forward-Looking statements. Many of these statements contain words such as "goal," "aims," "may," "expect," "believe," "intend," "anticipate," "estimate," "continue," "would," "exceed," "should," "steady," "plan," "potential," "dramatic," and variations of such words and similar expressions identify Forward-Looking statements, but their absence does not mean that a statement is not a Forward-Looking statement. Because Forward -Looking statements involve future risks and uncertainties, there are many factors that could cause actual results to differ materially from those expressed or implied. The Company cannot predict the actual effect these factors will have on its results and many of the factors and their effects are beyond the Company's control. Any forward-looking statement made by the Company speaks only as of the date on which it is made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. Given these uncertainties, you should not rely too heavily on these forward-looking statements.