EZJR, Inc. Purchases Exclusive U.S. Rights to Her Imports Trademark
November 29 2016 - 9:38AM
InvestorsHub NewsWire
SOURCE: EZJR, Inc.
|
Obtains Trademark and Other Assets in Exchange for
Preferred and Common Stock
LAS VEGAS, NV--(NewMediaWire - Nov 29, 2016) - EZJR, Inc.
(OTCQB: EZJR) today announced that it has entered into
an agreement to obtain the exclusive U.S. rights to the Her Imports
trademark. In exchange for these rights the Company has issued
to Cabello Real Ltd, the holder of the rights $10 million of
unregistered callable preferred stock and 15,000,000 unregistered
common stock in EZJR. In addition to these rights, EZJR also
purchased certain other assets owned by Cabello including customer
lists and various digital content. Simultaneously, EZJR has
terminated its Marketing and Selling Agreement with Her Holding
Inc. Because of this termination EZJR will recognize a
one-time non-cash charge of approximately $1.3 million due to the
write-off an intangible asset related to restricted common shares
issued to Her Holdings as part of a royalty reduction agreement and
forgiveness of certain advances to Her Holdings. It is
understood that Cabello will continue to develop Her Imports stores
outside of the United States including Canada, Europe and
Africa.
Barry Hall, EZJR's CEO stated, "This agreement is a natural
evolution of our business related to the Her Imports brand. We
now intend to leverage this new asset with an aggressive three-year
store and internet expansion program. Additionally, by
eliminating the royalties currently paid to Her Holdings, we will
immediately improve our financial performance and cash
flow." Hall added, "The Her Imports brand is synonymous with
high-quality hair extensions. We believe that we can use this
to reputation expand our product line to other beauty products
targeted at the urban fashion market."
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 and strategic leverage of social media buys. 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.
Forward Looking Statements: Statements in
this document contain certain forward-looking statements within the
meaning of Section 27 A 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.
CONTACT INFORMATION
For Questions Contact:
EZJR, Inc.
(702) 825-6647
or
pr@ezjrinc.com
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