The Chron Organization Acquires Alarm Licensing & Concludes Acquisition Discussions With SafetyNet
May 10 2016 - 9:00AM
Marketwired
The Chron Organization Acquires Alarm Licensing & Concludes
Acquisition Discussions With SafetyNet
DALLAS, TX-(Marketwired - May 10, 2016) - The Chron
Organization, Inc. (OTC PINK: CHRO), announced today that it has
attained its required "Managers License" for purposes of becoming a
licensed entity in the State of Texas that can sell, market and
install home alarm/automation products and services.
On March 15th, the Company had made an announcement that it had
entered into a Letter of Intent to acquire SafetyNet Security, a
boutique based alarm installation and monitoring services company.
The primary reason for acquiring SafetyNet was for its license,
which would grant CHRO immediate entry into the industry. However,
after working through the due diligence process, it was determined
that certain issues arose which need more time to resolve resulting
in the closing of the transaction being postponed until later this
year.
As a result of the delay in closing SafetyNet, CHRO entered into
discussions with other parties and has been successful in acquiring
the required licensing.
Furthermore, Alex Rodriguez, President of CHRO, said, "While
conducting these new discussions, we uncovered a new complementary
business strategy that will be instrumental in advancing our
servicing capabilities across the country. We are formalizing this
new strategy and will incorporate it into our model over the next
quarter."
Chairman Byron Young added, "Even though we were not able to
effectively close the SafteyNet transaction as we originally hoped
for, we did achieve our primary business goal in obtaining our
licensing. We have also made some new strategic partners while
uncovering a new and exciting strategy for the Company."
The Company is now making operational preparations for its
planned sales and marketing initiatives.
ABOUT THE CHRON ORGANIZATION The Chron Organization, Inc. (OTC
PINK: CHRO) is a 21st century services company providing
state-of-the-art Smart Home technologies and the next generation in
energy utility services. The Company provides homeowners and
businesses with the latest in security, monitoring and automation
controls enabling homeowners and businesses to have a Smart Home
and a Smart Business at an affordable price. CHRON combines that
with its cloud-based, green energy services, reducing both their
carbon footprint and their monthly energy expense. The Company's
plan is to capture 5% of homeowners, while dramatically reducing
the nation's peak electricity demand. To learn more about Chron
Home Services, please visit the website at
www.chronhomeservices.com.
FORWARD-LOOKING STATEMENTS This press release may contain
forward-looking statements. The words "believe," "expect,"
"should," "intend," "estimate," "projects," 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. These forward-looking statements are
based upon the Company's current expectations and are subject to a
number of risks, uncertainties and assumptions. The Company
undertakes no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to
differ significantly from those expressed or implied by such
forward-looking statements are risks that are detailed in the
Company's filings, which are on file at www.OTCMarkets.com.
INVESTORS & MEDIA CONTACT: Email:
investors@chronhomeservices.com Phone: (469) 626-5275 Investor
Relations: The Eversull Group, Inc. Jack Eversull President
972-571-1624 214-469-2361 fax jack@theeversullgroup.com