NEW YORK, NY - (NewMediaWire) - October 26, 2015 - Healthnostics, Inc. (OTC PINK: HNSS) is pleased to announce this update on the Company's new capital structure and plans. Earlier this year, Healthnostics, Inc., underwent a significant restructuring and is set to pursue its new business strategy and expand operations.
This restructuring involved:
Reducing the authorized Class A common stock to 950 million shares;
Establishing a share reserve earmarked for acquisitions and or investments;
Establishing a share reserve to fulfill prior special distribution obligations;
The Company is committed to maintaining the current share structure of 950 million Class A Common Shares, 25 Million Class B Common Shares and 100 Million Preferred Shares. The preferred shares are earmarked for future financing endeavors and acquisitions. Our plan is to maintain this capital structure for at least one year.
This new structure is vital to attract the best acquisition opportunities available to us. We have been in discussion with several different companies over the past several months since we sold BakedAmerican.com as our first successful development and divestiture project. We believe we are close to selecting and fully committing to a specific business sector and consummating transactions with one or more new ventures, focused to maximize the opportunities for the company and our present and future shareholders.
This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.
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