SCOTTSDALE, Ariz., Nov. 14, 2016 (GLOBE NEWSWIRE) -- On November 1, 2016, NOHO, Inc. (OTCQB:DRNK), a Wyoming corporation (the “Company”) announced the following:
The Company has negotiated letters of intent to acquire the assets two companies:
- Essential Marketing Systems, LLC, of Scottsdale, Arizona
- ChoiceAdz.com, Inc., operating as BizConnect360.com, of Yorba Linda, California.
ChoiceAdz.com has already done $350,000 in revenue in 2016 and is operating profitably. Its projected revenue for 2017 is well beyond $1,800,000.
These companies presently operate in the advertising technology space and the acquisitions will expand the Company’s product lines to offer customers a bundled suite of advertising and business services from a streamlined and direct platform.
These acquisitions are anticipated to be completed by December 15, 2016. These acquisitions will be achieved by using the newly issued preferred shares and there will be no dilution to the existing common shareholders.
The 54 billion shares of common stock exchanged by NOHO in the share exchange agreement with Media360 Licensing, Inc. on September 9, 2016, shall be retired and reissued as preferred shares on a ratio basis consistent with the share exchange agreement. In order for the Company to convert the newly issued preferred shares, a filing will be required.
Expansion of Cannabis Advertising Platform
Based on the results of the proven concept in Colorado, the Company is expanding its Cannabis advertising platform to all states where recreational Cannabis is permitted under state law.
NOHO, Inc., CEO David Mersky stated: "These are exciting times for the company. Our strategy for growth will see us continue making revenue producing acquisitions. In keeping with our plans to expand within the cannabis sector we have started due diligence on several acquisition candidates. We look forward to announcing updates as developments occur."
The Company has authorized its counsel to effectuate a name change from NOHO, Inc. to IMBUTEK Corporation, seeking to trade under the new proposed symbol of “IMTK”, or if not available then “IUTK’ or “IBTK.” This change is intended to more accurately reflect the nature of the Company’s core advertising technology business. Until that process is completed, the stock will continue to trade under its current symbol: DRNK.
Further, pursuant to the Spin-Off Agreement with Purple Investment Group, Inc. dated September 9, 2016, the 2,609,527,445 shares belonging to Dolce B Investments have been transferred to NOHO as collateral and a guarantee of Purple Investment Group, Inc.’s assumption of liabilities of NOHO, until such time as those liabilities are satisfied and no longer pose a contingent risk to NOHO.
About NOHO, Inc.
NOHO Gold Premium and Functional Lifestyle beverage is setting the standard for beverages that not only taste great, but also serves a functional purpose. The 8.4 oz can has a light, refreshing flavor and can be used as a healthy alternative to high sugar sodas and juices. With only 6 grams of sugar and 30 calories, it proves that healthy can taste good.
For additional information on NOHO please visit www.nohodrink.com.
Cautionary Note Regarding Forward-Looking Statements.
This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Noho, Inc. (the “Company”), its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and actual results may differ materially from those projected in the forward looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.