HALLANDALE, Fla., April 9, 2014 /PRNewswire/ -- ID Perfumes,
Inc.'s (OTC Pink: IDPE) management released the following corporate
update:
RECENT DEVELOPMENTS
ID Perfumes ("IDPE") has been very active over the last several
months positioning the Company to capitalize on several trends
taking place within the fragrance industry. More specifically,
management sees 3 opportunities for growth 1) consolidation of a
fragmented industry through acquisitions; 2) the development and
launch of new celebrity and fashion-based perfumes; and 3) a
stronger presence and diversified product mix available through an
e-commerce site for consumers, acquisitions of online fragrance
retailers and other acquisitions within the perfume industry.
In regards to the acquisition phase of the growth plan, the
Company has executed a Letter of Intent to acquire a worldwide
wholesale fragrance distributer that, in 2013, generated in excess
of $80,000,000 USD in revenue. The
Company anticipates the entering of a Definitive Agreement within
the next 30-60 days.
GOING FORWARD
Through the development and implementation of IDPE's business
model, management determined that a change in the Company's capital
structure would be beneficial to the opportunities currently
available. Therefore, the Board of Directors and the holders of a
majority of the Company's issued and outstanding shares of common
stock approved a 40:1 forward split of the Company's common
stock. Holders of the Company's common stock will receive 40
shares of common stock for every one share of common stock held by
the Shareholder on the effective date of the forward split.
In connection with the forward split, the Company will amend its
Certificate of Incorporation to increase the number of authorized
shares of common stock to 400 million.
Prior to the effective date of the forward split, the Company
will be required to file and secure approval for the above actions
from the SEC, FINRA and the state of Nevada.
"We believe this action will create more liquidity for our
shareholders and that the Company will have better opportunities
presented as a result of these actions," stated Mr. Ilia Lekach, Chief Executive Officer, director
of the Company, and founder and former CEO of Perfumania and former
CEO of Parlux Fragrances. Lekach went on to say, "We are excited
with the opportunities available to execute the business model we
have developed, which we will be rolling out over the next several
weeks."
The Company will announce the effective date of the forward
split when regulatory approval has been secured.
Additionally, the Company announced that it has retained the
advisory firm Mirador Consulting, LLC. ("Mirador"). Mirador will
perform advisory and introductory services regarding the execution
of the Company's business model. IDPE's roll-up strategy will
require several key resources that Mirador will be instrumental in
bringing to the Company. Mirador is an advisory merchant
banking-style firm that works with both privately and publicly-held
companies.
Mr. Lekach continued, "We are thrilled to be working with
Mirador and are certain they are the ones to help execute our
vision, which should not just benefit our company and our
shareholders, but the industry at large."
Disclaimer: Forward Looking Statements
This release contains statements relating to future results
which are forward-looking statements. These statements are not
historical facts and are not guaranteed, but instead represent only
the good faith belief of IDPE's management as of the date of this
release. Future events are by their nature inherently uncertain and
outside of IDPE's control. It is possible that IDPE's actual
results and financial condition may differ, possibly materially,
from the anticipated results and financial condition indicated in
these forward-looking statements. Forward-looking statements in
this release are made pursuant to the safe harbor provisions of
securities laws in force as of the date of this release. IDPE does
do not undertake any obligation to publicly update or correct any
forward-looking statements to reflect events or circumstances that
subsequently occur or of which we hereafter become aware.
Contact:
Mirador Consulting LLC
561-989-3600
Or
Ilia Lekach
ID Perfumes, Inc.
786-877-5521
SOURCE ID Perfumes, Inc.