ON4 Communications, Inc. Announces UpdateTo Shareholders December 2018
NEW YORK, NY -- December 17, 2018 -- InvestorsHub NewsWire -- On4 Communications (OTC: ONCI) is pleased to announce the following corporate update from CEO Steve Berman:
"Shareholders, I am happy to report another record quarter with Record sales and record revenues. The company generated sales revenues of over $4.551 million during the 12 months ending 10/31/18 compared with sales revenue totaling $1.679 million for the 12 months ending 10/31/17 representing a 171% increase. The company expects revenue to grow as we open new lines of business and start new ventures.
We continue our success with the signing 2 private label companies: one who has been shipped and continues to sell our product, and the other coming on line shortly. We will discuss these deals below. We achieved new milestones with the signing and shipping of AutoNation and Carmax dealerships and are in discussions with other large dealership groups around the Country. Overall our business is in a great place as we position the company for continued future growth."
On September 14, 2018 the Company announced that it had signed a letter of intent to purchase 75% of a Craft Cannabis called Sifthouse BC for a total consideration of $1million contingent upon Sifthouse BC obtaining a license to distribute Cannabis related product in Canada. The plan is to grow highly profitable specialty blends of craft Cannabis.
"This business is about to explode and we are in on the ground floor. It is my expectation that big tobacco and spirits companies will be in control of this business going forward and the expectations and potential profits will be amazing. As markets and countries open we will be able to franchise our company to every city that makes cannabis legal over the next few years and I believe craft growers will be the biggest part of the cannabis boom. The company's investment to date is $100,000."
"I am sorry to keep having to include this in the letter but I still get messages from people accusing me of doing a Reverse Split.
ALL CAPS DEEMED NECESSARY HERE: LET ME SAY THIS AGAIN, AGAIN, AGAIN and AGAIN: THERE WILL BE NO REVERSE SPLIT.
LET ME SAY THIS AGAIN AS WELL: THERE ARE NO PLANS TO DO ANOTHER 3A1O
So if you don't understand it, again, there are no plans on the table to do a reverse split."
Berman adds, "The Company is in great shape as we continue to close deals and increase revenue. Closing the 3 huge dealer groups is a blockbuster event and will increase revenue three fold in the future. In addition, we are looking at ways to unlock shareholder value in everyway as we open new opportunities and look to capitalize at every turn."
"As we have discussed, we have 2 private label deals in place and are working on 2 others as we speak. We have shipped Pharrel Protection and have had many meetings with them as they distribute our products to their clients.
The second Private Label client is a Blockbuster and they want complete secrecy as they are still in the process of creating their ad campaign with will include Print, Radio, TV and Social Media. They want to break everything together.
I believe that once their competition sees these ads they will all fall. We also do not have any exclusivity with this company and we can sell to anyone just not using the private label name."
DELAWARE AND SHARE REDUCTION
"As we have discussed, I have made a settlement with Delaware to pay off our debt to them. I will be making this payment before 12/31/18. As also stated I have resolved the 2 outstanding share reservations outstanding which will give us the opportunity to reduce the amt of shares."
"Once Delaware is paid off completely I will send a note to our TA to reduce the OS by 1.4 billion shares. I will also send this out in a report to shareholders."
"This will also speed up the move to Colorado, which can now progress as everything is done that needed to be."
HEXAGON 6TH LEG
"As of today, the 6th leg of hexagon is complete. We will be starting a new web based platform called GIFTCARDEXCHANGE.SHOP."
"We own the name GIFTCARDEXCHANGE.SHOP. The premise is simple: we all get gift cars for birthdays anniversaries and other occasions. If you are like me, you get gift cards for things you could never use or want or in some cases you get an Amazon card but you want Apple. Now there is a place where you can go and get what you want. We are not selling new company gift cards at a discount though that is not out of the question in the future."
"You come to the site and list your card on our site for a fee. Then you can trade your card for a card that you want. I probably have over 15 gift cards in my desk drawer that I have not used and would love to get something else. I will be discussing this platform in all updates and listing our progress as we move to complete the last leg of our company."
"The company is in a great position to capitalize on new markets. Distracted driving is an epidemic in the world and is only getting bigger. Cannabis is one of the fastest growing businesses led by total legalization in Canada with 10 other countries to follow. We have Private label deals in place and we are creating new revenue streams. We are positioned for the future and will continue to ride the wave accordingly .
About On4 Communications
On4 is a holdings company with an aggressive focus of acquiring proven and profitable businesses. Our first project is focusing on businesses operating in the $1.7 trillion U.S. healthcare industry. Our newest targeted businesses are operating in the trillion-dollar mobile App space. Our first acquisition in the mobile App space is FMS Marketing a global creator and distributor of mobile Apps for Android and iPhones. We are also targeting businesses to acquire and joint venture within the medical marijuana and emerging MJ ancillary products space.
This release includes 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. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
On4 Communications, Inc.