NoHo, Inc. Announces that its CEO is providing up to $1 Million Interim Funding to Accelerate Growth Initiatives
Rhea-AI Summary
NoHo Inc. (OTCID: DRNK) announced that its CEO will provide up to $1 million in interim funding to support the company's growth initiatives. The funding will begin with an initial advance of $250,000, which will be allocated to increase investment in AIEnglish (their AI company), provide funding for Smog Armor, and support new acquisitions and working capital needs.
NoHo is developing as a global holding company with diverse interests, including a California-based mine and minority interest in an AI company. The company focuses on eco-friendly technologies, sustainable mining practices, and is expanding into the financial technology sector, targeting investments in revenue and profit-positive companies with proprietary software solutions.
Positive
- CEO demonstrates confidence in company by providing personal funding up to $1 million
- Immediate access to $250,000 initial funding for growth initiatives
- Diversification strategy into AI, mining, and fintech sectors
- Active negotiations for additional lines of credit in progress
Negative
- Reliance on CEO personal funding suggests possible difficulties in securing traditional financing
- Multiple diverse focus areas may lead to operational complexity and resource strain
- Company trades on OTC markets, indicating higher risk profile
News Market Reaction 1 Alert
On the day this news was published, DRNK declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Noho will receive an initial advance of
Anthony Anish, CEO of Noho stated: "I am delighted that I have been able to arrange a loan that I will use to fund Noho. This interim financing marks the first round of funding to support our vision and plans. I am actively negotiating additional lines of credit and will communicate relevant developments to our shareholders as these negotiations advance. I am excited by the opportunity to bring revenue generating businesses into the Noho portfolio and build sustainable value for our stakeholders. Stay tuned, for further updates as I finalize new transactions."
About NoHo, Inc.
NoHo, Inc. (OTCID: DRNK) is being developed into a global Holding Company with diverse interest, including a
NoHo will continue its commitment to inspire people worldwide to adopt an environmentally conscious lifestyle. Our mission is to drive a global movement that champions sustainable living and eco-friendly practices in everyday life. The products we currently have and are developing will enable us to support our mission.
We believe that in addition to our environmentally conscious products, this approach will responsibly meet the world's mineral needs through innovative, cleaner mining practices that minimize environmental impact while acknowledging the essential role mining plays in modern life.
Additionally, NoHo is expanding its focus into the financial technology sector (Fintech), targeting investments in companies that are revenue and profit positive with proprietary software solutions to support long-term growth.
Safe Harbor and Informational Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, plans for environmentally friendly initiatives, potential mineral extraction processes, expansion into AI and Fintech. Such statements are based on current expectations and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to, regulatory approvals, technological feasibility, market conditions, the successful issuance of warrants, and other factors detailed in NoHo's filings with the Securities and Exchange Commission. NoHo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbors provided by the Private Securities Litigation Reform Act of 1995 and Section 21E(c) of the Exchange Act for all forward-looking statements.
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SOURCE Noho Inc.
FAQ
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