BEDFORD, TX / ACCESSWIRE / January 21, 2016 / Cherubim Interests, Inc. (OTC: CHIT) is pleased to announce that FINRA has approved the issuance of its convertible preferred stock dividend for shareholders of record on the company's record dated that is January 22, 2016. The dividend will be added to the shareholders' existing shares on the pay date of January 27, 2016.
Patrick J. Johnson, CEO of Cherubim Interests states: "The corporate action is officially approved, and has a Daily List Announcement date of January 22, 2016. Stockholders will receive 1 Restricted Preferred share of Cherubim Interests, Inc. for every 100,000 shares held as of Record Date 1/22/2016. The pay date for this dividend is 1/27/2016. This announcement and impending issuance will help those that have seen the dilution in the open market affect their cost average. Issuing Anti-Dilutive Convertible Preferred Securities to the stockholders as dividends also ensures that they will not be impacted by third party debt conversions. The conversions of these securities are technically set at a price that the company could never trade or be quoted at which is .00001 par value, so these securities are not price sensitive, and they are also anti-dilutive. The management would like to personally thank all of the shareholders of record of Cherubim Interests, Inc."
Daily List Announcement Date: 1/22/2016
Record Date: 1/22/2016
Payment Date: 1/27/2016
Transfer Agent responsible to process corporate action: Pacific Stock Transfer
When shares will be available to Transfer Agent: 1/22/2016
About Cherubim Interests Inc.:
Cherubim Interests specializes in alternative construction projects, as well as covering the entire spectrum of real estate development: due diligence, acquisition, planning, construction, renovation, and management; providing complete beginning-to-end development programs for mixed use, single, and multifamily projects and properties.
For more information, visit www.cherubiminterests.com.
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
Cherubim Interests, Inc.
Patrick J. Johnson
Chief Executive Officer
(844) 842-8872
pjohnson@cherubiminterests.com
SOURCE: Cherubim Interests, Inc.