Phoenix, AZ -- May 04, 2017 -- InvestorsHub NewsWire -- NOHO,
Inc. (OTC PINK: DRNK), a Wyoming corporation (the
Company), announced the following:
Freeze on Conversions
The Company has executed a standstill agreement with its largest
note holder, Carbourn Capital, LP (Carbourn), to freeze conversions
on all notes issued to Carbourn after March 2015. The agreement
will allow the parties to continue to extend the freeze on
conversions, as well as, negotiate a leak-out agreement to restrict
sales in the future.
Share Reduction
The Company has reduced its Authorized shares from 65 billion to
25 billion. The reduction has already been reflected by the Wyoming
Secretary of State.
David Mersky, NOHO's CEO said, "We are continuing to build a
solid foundation for NOHO moving forward and are pleased to
announce that we have executed a standstill agreement with our
largest note holder. In addition to freezing conversions, we are
working together to insure that any future conversions and sales
are restricted with a focus on maintaining our share price.
Johnson Family Partnership
The MDHC Johnson Family Partnership, LLLP, has agreed to accept
piggy-back rights on the previously issued Series C Preferred Stock
issued in exchange for the assets of EMS in 2016. The trust will
have the right to register the Series C for sale through an S-1
registration on an as is basis. The Series C Preferred stock has no
conversion rights to common stock.
Typenex
The Company has successfully resolved an outstanding judgment
from Typenex Co-Investment LLC, obtained by the default of prior
management, in the sum of $233,000.00. The Company has settled the
judgment and substantially reduced the liability, by issuance of a
$75,000.00 note in lieu of litigation. In addition, by way of
agreement, the Company was able to negotiate terms to significantly
restrict Typenexs sale of stock.
FINANCIAL SERVICES DIVISION
The Company will be releasing news on the newly created
financial services division next week with information on its
positive impact on NOHO shareholders. The Company is really excited
to introduce this financing model to the market. NOHO is the
incubator for this new business and were looking forward to
providing more information on this shortly and how we believe it
will create value for our shareholders, stated NOHOs CEO, David
Mersky.
For additional information on NOHO please visit www.nohodrink.com and our full product site at
www.imbutek.com and at www.instagram.com/nohodrink, as
well as at www.twitter.com/nohodrink.
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 Companys 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.
Investor/Media Contact:
info@nohodrink.com