Clawed Back Shares back to treasury, New CEO African Mining acquisition, Addresses FAQ on H20 Alkaline water packing business & Litigation.
Miami, Florida--(Newsfile Corp. - April 26, 2024) - Hiru Corp (OTC Pink: HIRU), www.otchiru.com, announces the return of 1 billion shares to its treasury.
Following diligent efforts, the Company has successfully recovered 1 billion common shares, with the claw back provisions. The company originally had aimed to reclaim between 400 to 600 million shares issued to the ecommerce & shipping acquisition. This claw back stems from certain milestones HIRU management placed on the ecommerce / shipping acquisition which were not met. Our current share structure will change from Outstanding Shares: 3,451,425,394 - Restricted: 1,008,037,547 - Unrestricted: 2,443,387,847 - To:
| Outstanding Shares: |
2,451,425,394 |
| Restricted: |
8,037,547 |
| Unrestricted: |
2,443,387,847 |
Notwithstanding the return of this 1 billion shares, the Company through a complex debt swap and certain financing the Company reacquired, on all cash basis, the logistics business and the retail portal thefixtureplace.com. Revenues and expenses together with the financing will be reflected in the Company Q2 disclosure. By all indications, the Company expects to make a tidy profit moving forward with the current right sized business model.
FAQ: Following certain trauma (i.e. loss of a single use customer Alkaline88) in or about October 2023 and certain litigation against the ex-management & HIRU the Company decided to reorganize and restructure. See OTC filing:
FAQ: Regarding HIRU being named as a litigant by a Credit Union, the Company was successful in setting aside the default judgement due to the non-responsiveness or negligence of the ex-management. The Company intends to vigorously defend this and or any other frivolous complaint brought forth against the Company.
FAQ: Although the Company maintains its H20 Alkaline equipment, it is no longer in the water packing business. (The current equipment is being offered for sale through a business broker as an asset purchase.) The management is of the opinion that by all accounts the sale should settle the equipment debt. https://www.otchiru.com/alkaline-equipment-sale
HIRU website is self-explanatory addressing current logistics and mining operations.
https://www.otchiru.com/ and mining https://www.mining.otchiru.com/: Our webmaster is in the process of reorganizing the website as logistics and mining are clearly two separate sectors the Company is engaged in. We are not in a position to make any formal announcements other than those we received permission to do so with the targeted mining company. This announcement is for informative FAQ purpose of our followers.
Lastly, the Company is in final negotiations with a new CEO and management in the mining sector. Details will be provided as they crystallize, in a separate announcement and/or OTC filing. The Company has received the resignation notice of CEO Mr. Gerald Mounger and COO Mr. Andrew Lapp. Updates to OTC will be made shortly in concert with the grace period and the finalization of the new management and its mining staff.
More updates will follow on this and other exciting events in the works on a timely basis.
About Hiru Corporation
HIRU is a holding Company (The Company) holds interest in 3 operating enterprises.
- Mining Business,
- Gold Trading / Processing
- Freight & Warehouse services
Disclaimer Regarding Forward Looking Statements
Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.
Contact:
Website: www.otchiru.com
Phone: +1 954-228-1053
Email: corporate@otchiru.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206952
