Scottsdale, AZ -- November 22, 2016 -- InvestorsHub NewsWire --
On November 21, 2016, NOHO, Inc., a Wyoming corporation (the
Company) announced the following:
The 2,500,000,000 shares of NOHO stock belonging to Dolce B
Investments that had been pledged to the company as collateral for
Purple Investment Group, Inc.s assumption of liabilities of NOHO
following the Spin-Off Agreement dated September 9, 2016 are being
cancelled.
After the cancellation, the issued and outstanding shares total
3,655,216,110.
Expansion of Cannabis Advertising Platform and Business
Solutions
"We attended the Marijuana Business Conference & Expo in Las
Vegas last week and the company had several high-level meetings
with a number of firms to discuss potential acquisitions and
product sales," stated CEO David Mersky, Chief Executive Officer of
NOHO, Inc.
"As a result of these meetings, the Companys Board of Directors has
agreed to form a major division that will focus on the development
of specialized advertising platforms designed for the Cannabis
industry. Further, we will expand our offerings of industry
products, financial tools and services, including software. Such
highly focused targeting within the Cannabis sector will speed up
our acquisition efforts. We are currently in talks with companies
situated in California, Colorado and Oregon.
Currently the Company has negotiated letters of intent to acquire
the assets of 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.
"I believe that the time to strike is now," continued CEO, David
Mersky. "We aim to be a large and successful business presence in
the Cannabis Industry. And we are grateful to our shareholders, new
and old, for sticking by us. Retiring these many billions of shares
is just one of the ways we are planning for success. We look
forward to keeping you abreast of our progress in the near
future."
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 Companys core advertising technology business.
Until that process is completed, the stock will continue to trade
under its current symbol: DRNK.
Safe Harbor for Forward-looking Statements:
This news release may contain forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the companys progress, business
opportunities and growth prospects, they are based on managements
current beliefs and assumptions as to future events. However, since
the companys operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
CONTACT:
Investor/Media Contact:
Phillip Sugarman
Investor Relations Partners
818-280-6800
psugarman@irpartnersinc.com
