Hiru Corporation (HIRU) Moving Forward Outlook
New Officers and Directors, Off Market Private Transaction Completed Control Block Sale of Preferred Shares, FAQ Addressed, Forward Outlook Guidance, and New X (Twitter Acc)
August 01, 2024 9:30 AM EDT | Source: Hiru Corporation
West Palm Beach, Florida--(Newsfile Corp. - August 1, 2024) - Hiru Corporation (OTC Pink: HIRU) (The Company) on July 26, 2024 Completed an Off Market Private Transaction Control Block Sale of Preferred Shares. This event and other events were filed as Supplemental Filing on OTC Markets, and as a 8k with the SEC.
https://www.otcmarkets.com/otcapi/company/financial-report/408109/content, https://www.otcmarkets.com/filing/conv_pdf?id=17716956&guid=YBO-knmv0E5eJth
HIRU addresses shareholders frequently ask questions regarding past management affairs of HIRU and the $1.4 million dollar debt remaining on HIRU's books. The water equipment serves as a security for this debt. Several interested prospects are currently considering the purchase of the equipment that is for sale. HIRU does not expect to be subject to a short sale or negative equity when they do so. We will cross that bridge when we get there and settle our accounts with the finance company if it is the case. There is no doubt that the equipment financier is being more than reasonable, courteous, and accommodating to the company. For clarification, the conversion rate relates to a backstop on the note and not to the actual number of shares the financier will receive from us. (See OTC filing footnote) Please research the term "backstop" in corporate finance for a more detailed explanation.
https://www.investopedia.com/terms/b/backstop.asp#:~:text=In%20corporate%20finance
Indeed, we are familiar with the affairs of ex-management (management prior to the interim management), however we cannot dwell in the past. Our focus is on today and HIRU's future. We have also received full disclosure of this debt and the relationship of the creditor, and the M&A firm that introduced us to HIRU. Obviously, there are other WIN-WIN benefits for us and our shareholders for choosing HIRU over other options.
To that end, we would like to address HIRU's moving forward plans, HIRU's corporate vision, and future growth strategy. The company's new focus is on acquiring and/or collaborating with and merging both large and small profitable mines, as well as large real estate construction projects. Our vision is to develop the Company into a small conglomerate. Another of the FAQ's is "how big is it?" New OTC rules sanction companies that release news ahead of official filings. Without getting into details, or "stepping on anyone's toes" we can safely say some significant mines we have certain relationships with are between $70 to $150 million dollar projects. These projects have full mining reports 43101 or similar reports with GAAP audited financials. Our upcoming filings will be self-explanatory. Before the definitive closing date of the Australian mining transaction, we will consult with Hiru's corporate lawyer to determine what more information we can disclose publicly.
The next FAQ we received was: Why did we choose OTC Markets? Our answer is simple. Why not? We have no plans to dilute. Our share structure is unchanged. We see this endeavor as a WIN-WIN all-around where retail shareholders can reap the benefits of our efforts as we grow together. As per 8k and OTC filing(s) currently we are targeting New York, New York as our home office location with an additional office in either Toronto or Vancouver, Canada. Both Canadian cities have strong mining circles which fit our narrative.
In other Company news and events, the Company has launched its X (Twitter) Account https://x.com/HIRUMining
More news will follow promptly.
About Hiru Corporation
HIRU is a holding Company (The Company) in the finance and mining sector quoted on OTC: HIRU. The Company also operates a small e-commerce division.
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:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218517
© 2024 Newsfile Corp. All rights reserved.
