DALLAS, January 21, 2020 /PRNewswire/ -- PBS Holding, Inc. (OTC: PBHG), (the "Company"), PBS Holding Inc., is pleased to announce major share structure changes and restructure of the company's Authorized Shares, (A/S) and Outstanding Shares (O/S). The management will post the new count with the OTC Markets filings, and the SOS WY will do likewise.
"We will retire over 1 billion of O/S in reserve and lower the A/S by over 60%. The exact numbers will be published as well as announced on next week's updates and PR. Also, the management is interviewing a PCAOB CPA firm to complete audited financials in anticipation for this year's growth and enhance shareholders value with transparency," stated Edward Vakser, Chairman/CEO.
Recently the company announced additional developments for its 2020 Business Plan.
Management is happy to announce the completion of yet another "phase" of planned business development and acquisition business plan.
The company secured a 20-acre deal in Oklahoma, for the purpose of developing and expanding its holdings in MJ industry and its related genres. The development will allow the planting, growth and harvesting of the Cannabis. The deal also includes all proper state licensing for growth, processing and distributing MJ and related products.
"We are excited with the deal and everything that comes with it! Our contract includes a future expansion for up to 200 acres and is fully vetted and licensed in the state of Oklahoma. This deal had taken a long time to complete due to various details and compliance issues, but as MJ markets are expanding, it's a very lucrative and exciting opportunity for our company and its shareholders!" commented Mr. Vakser, Chairman/CEO.
The management is excited with a potential for the revenues. The average is approximately 300 plants per acre, and at 4 pounds per plant, at approximate 1200 pounds per acre would average $ 300.00 US per pound wholesale, would yield an approximate average of $ 3.6 Million (US) per acre. This being calculated as a wholesale revenue projection has a potential of over $ 50 Million per year and is also very exciting for the company since the company has several financial interests and investments in other companies that specialize in distribution and dispensing of the MJ products which would add addition revenues and good will to all our investments.
The company developed an acquisition path using its preferred share structure in order to create a fully developed portfolio, while not exposing its common stock nor creating additional debt or notes that otherwise could pressure the market.
"We had renegotiated and retired debt and notes in order to give the "Holding Company" a greater chance and opportunity for success. By acquiring the companies with our preferred, and not doing "mergers" per se, this will protect us and help achieve our goals and company's plans without the fear of "notes" and reverse stock splits looming and/or being dictated by new management. We designed a "Three Phase" acquisition formula, so I can firmly commit that there will be no RS!" Exclaimed very excited Edward Vakser, Chairman /CEO, PBS Holding Inc.
PBS Holding, Inc. (PBHG)
PBS Holding Inc., is a publicly trading company whose goal is to acquire, develop and secure companies and revenue producing projects in order to grow its portfolio. The company's growth is accomplished by strategic mergers and acquisitions.
PBS Holding Inc. Is currently updating and upgrading its "Enterprise Software Sales Portal" for its direct sales group and sales channel. www.starfestdirect.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 of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, and domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
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SOURCE PBS Holding, Inc.