EXPERIENCE ART AND DESIGN, INC. ANNOUNCES CHANGES TO HOW IT WILL ACQUIRE DRY CLEANING OPERATIONS
May 26 2016 - 09:00AM
InvestorsHub NewsWire
Las Vegas, NV -- May 26, 2016 -- InvestorsHub NewsWire --
Experience Art & Design, Inc. (OTC: EXAD) has been negotiating
to purchase several dry cleaning operations for cash and promissory
notes. The Company has shifted away from cash and promissory note
to minimal cash paid at closing and redeemable Preferred stock.
Metropolitan will use a minimal cash down payment and issue
redeemable Preferred stock for each operation it buys. This reduces
the cash constraints on the Company or the need to consistently
raise large amounts of cash or add debt to the books.
The redeemable Preferred will be issued with a pre-stated value
and the Company will purchase the shares back from the Seller upon
the agreed to terms and conditions.
The dry cleaning industry is a $9B market segment employing
approximately 148,000 people in the United States. While there are
over 36,683 companies operating in the industry, less than 10
companies have a national presence. According to Hoover’s: the 50
largest firms generate less than 10 percent of revenue.
About Metropolitan Dry Cleaners:
Metropolitan Dry Cleaners is a rollup of existing enterprises
with a multiyear history of revenues and profits in a variety of
primarily East Coast States. Metropolitan Dry Cleaners mission is
to provide quality dry cleaning and laundering services at every
facility it acquires. The company will provide dry cleaning,
laundry, and garment alterations, as offered by the existing target
businesses along with regular home pickup and delivery services.
Metropolitan intends to increase its market share through a
combination of organic and strategic growth. A link to
Metropolitan’s market summary may be found at the following
URL: http://tinyurl.com/zcuwtj9
Website and social media:
The Company has made further updates to its
website www.metropolitandrycleaners.com.
Metropolitan Dry Cleaners has rolled out its new Facebook page.
Investors are invited to visit the site at the following
URL: http://tinyurl.com/znfwmt2
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Experience Art & Design, Inc., in compliance with SEC
regulations, may in the future use social media outlets like
Facebook or Twitter and its own website to announce key information
in compliance with Reg FD.
For additional information about this release please
contact:
Investor Relations:
702-347-8521
info@metropolitandrycleaners.com
http://www.metropolitandrycleaners.com
Forward-Looking Statements
This news release contains "forward-looking statements" as
that term is defined in Section 27(a) of the United States
Securities Act of 1933, as amended and Section 21(e) of the
Securities Exchange Act of 1934, as amended. Statements in this
press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such
forward-looking statements include, among other
things, estimates of dry cleaning services and equipment
markets, release of corporate apps, global dry cleaning services
and equipment markets, growth of platform, target markets, product
releases, product demand and, business strategy. Actual
results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among
others, the inherent uncertainties associated with new projects and
development stage companies. These forward-looking statements are
made as of the date of this news release, and we assume no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although we believe that any
beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance that any such
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth
herein and should also refer to the risk factors disclosure
outlined in our annual report on Form 10-K for the most recent
fiscal year, our quarterly reports on Form 10-Q and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Details of the Company's business, finances, appointments
and agreements can be found as part of the Company's continuous
public disclosure as a reporting issuer under the Securities
Exchange Act of 1934 filed with the Securities and Exchange
Commission's EDGAR database.