FORT LAUDERDALE, FL / ACCESSWIRE / February 19, 2020 /DNA Brands Inc. is pleased to update that yesterday Feb 18th 2020, the company issued a press release regarding future opportunities that lay ahead for the company. One topic missed in yesterday's press release was the status of the company on OTC markets.com.
In the coming days the company will be paying the necessary fees to OTC markets and will upload their 2019 Q3 financials ,(which are completed). In addition the 2019 Q4 Annual Report (currently working on), to once again be OTC Current and compliant.
CEO Adrian McKenzie stated the Following: " In general the company has been pretty compliant. After wearing several hats to complete our recently qualified Reg A filing. As a business owner, I had to prioritize where to allocate limited resources. Now that the company is positioned for what I would call, good solid growth. My number one priority will be, in the coming days, to take all the necessary steps to once again be OTC current and compliant. The company is in regular communications with OTC markets to be as transparent as possible."
Current Share Structure
The current Authorized Shares are: 3,613,000,000 common shares Authorized. The breakdown is as follows:
- There are approximately 770 Million common shares Issued and Outstanding, of which Adrian McKenzie, CEO of DNA Brands owns 680 Million shares (restricted), which leaves about 105 million shares in the Float (Public hands). At present, that makes the company 88% Insider owned.
- 2.5 Billion shares of common stock have been reserved for the Reg A offering. These shares will only be issued over time to our investment banking partner, as per investment needed to grow the company.
- The Only Preferred shares issued and valid are the Series F Shares, which are the voting Shares, Held by CEO Adrian McKenzie.
Please Note: The share count described on OTC markets is not accurate. For reasons unknown, OTC markets has included the 2.5 Billion REG A Reserved shares, as issued. They are not.
To date, there has only been 25 million shares issued from the Reg A offering. Once the company pays the necessary fees to OTC markets in the coming days, DNA will work with its transfer agent and OTC Markets to correct this information.
About DNA Brands Inc.
DNA Brands is a Holding company. The Primary asset of the company is the Two Time award Winning Energy drink line (DNA ENERGY). The flavors are citrus, lemon lime, citrus sugar free, and cranberry raspberry sugar free flavors under the DNA Energy Drink brand name. At Present the company owns all the IP that developed the energy drink line. In addition the company also has a Revenue generating fleet agreement with ridesharerental.com, where by DNA owns a fleet of cars that it rents to Transportation Network Providers (TNP's)/ Rideshare drivers.
This press release contains statements that are "Forward-Looking" in nature (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). All Statements regarding the Company's financial position, potential, business strategy, plans and objectives for future operations are Forward-Looking statements. Many of these statements contain words such as "goal," "aims," "may," "expect," "believe," "intend," "anticipate," "estimate," "continue," "would," "exceed," "should," "steady," "plan," "potential," "dramatic," and variations of such words and similar expressions identify Forward-Looking statements, but their absence does not mean that a statement is not a Forward-Looking statement. Because Forward -Looking statements involve future risks and uncertainties, there are many factors that could cause actual results to differ materially from those expressed or implied. The Company cannot predict the actual effect these factors will have on its results and many of the factors and their effects are beyond the Company's control. Any forward-looking statement made by the Company speaks only as of the date on which it is made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. Given these uncertainties, you should not rely too heavily on these forward-looking statements.
SOURCE: DNA Brands Inc.
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