LAS VEGAS, NV - (NewMediaWire) - August 31, 2015 - EZJR, Inc.
(OTCQB: EZJR),
a leading eCommerce Service Provider, today announced it has
entered into a modification of its agreement with Her Holdings,
Inc. ("Her"). The modification reduces royalty payments owed to Her
from 10% of net sales to 2.5% of net sales. Also, as part of the
agreement EZJR agreed to assume responsibility for certain other
operating expenses that were previously the responsibility of Her
Holding. As consideration for this modification, EZJR will issue to
Her four million shares of restricted common stock valued at $2.2
million, based on the current market value of the stock issued.
Commenting on the modification, Barry Hall, EZJR's Chief
Executive Officer and CFO, said, "The modification will immediately
improve our cash flow and should ultimately have a significant
positive effect on our bottom line." Hall, continued, "The value of
the stock issued to Her will be treated as a prepaid royalty and
will be amortized into expense until such time as the reduction in
royalties reaches $2.2 million. Subsequently, our financial
statements will reflect the new royalty rate."
About EZJR, Inc.: EZJR's primary business
is to improve the sales performance of brands, products and
services by way of our proprietary eCommerce platform. Our unique
methodology minimizes the cost of generating leads and then
maximizes the conversion of those leads into customers. After the
initial sale, EZJR utilizes a process for increasing the lifetime
value of those customers through quality content, support, and
additional offerings.
In October 2014, EZJR entered into a Marketing and Selling
Agreement, with Her Holding, Inc., a retailer of human hair
extensions, marketed under the brand name Her
Imports. Under the agreement EZJR generates customer leads
through email marketing campaigns, online advertising and social
media and various affiliate marketing campaigns. EZJR
sells Her Imports products online and in store
locations throughout the U.S.
Forward Looking Statements: Statements in
this document contain certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements are based on many assumptions and estimates and are not
guarantees of future performance. These statements may involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of EZJR, Inc.
to be materially different from future results, performance or
achievements expressed or implied by such forward-looking
statements. EZJR, Inc. assumes no obligation to update any
forward-looking statements as a result of new information, future
events or developments, except as required by applicable securities
laws. For more information, please refer to EZJR, Inc.'s financial
statements as filed with the Securities and Exchange
Commission.
Source: EZJR, Inc.