Star Alliance International Corp. Sells its Assets to NoHo, Inc. in Exchange for NoHo, Inc.'s Publicly Traded Stock
Star Alliance International Corp. (OTC: STAL) has announced the completion of its asset sale to NoHo, Inc. (OTC: DRNK) in exchange for DRNK's publicly traded shares. This strategic move comes after STAL faced significant regulatory and financial challenges in 2024, including rejected audits and OTC market reclassification.
Following the transaction, Anthony Anish, STAL's CEO, has assumed the CEO position at DRNK. STAL shareholders will receive DRNK shares as a dividend distribution once DRNK completes its audits and registration statement becomes effective. The company aims to pursue a 15C-211 filing with FINRA while maintaining its DRNK holdings.
Star Alliance International Corp. (OTC: STAL) ha annunciato il completamento della vendita dei propri asset a NoHo, Inc. (OTC: DRNK) in cambio delle azioni quotate di DRNK. Questa mossa strategica arriva dopo che STAL ha affrontato significative sfide regolamentari e finanziarie nel 2024, tra cui audit respinti e una riclassificazione nel mercato OTC.
A seguito della transazione, Anthony Anish, CEO di STAL, ha assunto la carica di CEO anche in DRNK. Gli azionisti di STAL riceveranno azioni DRNK come distribuzione di dividendi una volta che DRNK completerà i propri audit e la dichiarazione di registrazione diventerà efficace. La società intende procedere con una presentazione 15C-211 presso FINRA mantenendo le proprie partecipazioni in DRNK.
Star Alliance International Corp. (OTC: STAL) ha anunciado la finalización de la venta de sus activos a NoHo, Inc. (OTC: DRNK) a cambio de acciones públicas de DRNK. Este movimiento estratégico se produce después de que STAL enfrentara importantes desafíos regulatorios y financieros en 2024, incluyendo auditorías rechazadas y una reclasificación en el mercado OTC.
Tras la transacción, Anthony Anish, CEO de STAL, ha asumido el cargo de CEO en DRNK. Los accionistas de STAL recibirán acciones de DRNK como distribución de dividendos una vez que DRNK complete sus auditorías y la declaración de registro sea efectiva. La empresa tiene como objetivo presentar un archivo 15C-211 ante FINRA mientras mantiene sus participaciones en DRNK.
Star Alliance International Corp. (OTC: STAL)은 DRNK의 상장 주식과 교환하여 NoHo, Inc. (OTC: DRNK)에 자산 매각을 완료했다고 발표했습니다. 이 전략적 조치는 2024년에 STAL이 감사 거부 및 OTC 시장 재분류 등 중대한 규제 및 재무 문제에 직면한 후 이루어졌습니다.
거래 후 STAL의 CEO인 Anthony Anish가 DRNK의 CEO 직책을 맡았습니다. STAL 주주들은 DRNK가 감사를 완료하고 등록 명세서가 효력을 발휘하면 DRNK 주식을 배당으로 받게 됩니다. 회사는 DRNK 지분을 유지하면서 FINRA에 15C-211 제출을 추진할 계획입니다.
Star Alliance International Corp. (OTC : STAL) a annoncé l'achèvement de la vente de ses actifs à NoHo, Inc. (OTC : DRNK) en échange des actions cotées en bourse de DRNK. Cette décision stratégique intervient après que STAL a rencontré d'importants défis réglementaires et financiers en 2024, notamment des audits rejetés et une reclassification sur le marché OTC.
Suite à la transaction, Anthony Anish, PDG de STAL, a pris la direction de DRNK. Les actionnaires de STAL recevront des actions DRNK sous forme de dividendes une fois que DRNK aura terminé ses audits et que la déclaration d'enregistrement sera effective. La société vise à déposer un dossier 15C-211 auprès de la FINRA tout en conservant ses participations dans DRNK.
Star Alliance International Corp. (OTC: STAL) hat den Abschluss des Verkaufs seiner Vermögenswerte an NoHo, Inc. (OTC: DRNK) im Austausch gegen öffentlich gehandelte DRNK-Aktien bekannt gegeben. Dieser strategische Schritt erfolgt, nachdem STAL im Jahr 2024 erhebliche regulatorische und finanzielle Herausforderungen wie abgelehnte Prüfungen und eine Neubewertung im OTC-Markt erlebt hatte.
Nach der Transaktion hat Anthony Anish, CEO von STAL, die CEO-Position bei DRNK übernommen. Die Aktionäre von STAL erhalten DRNK-Aktien als Dividendenzahlung, sobald DRNK seine Prüfungen abschließt und die Registrierungsunterlagen wirksam werden. Das Unternehmen plant eine 15C-211-Einreichung bei der FINRA, während es seine DRNK-Beteiligungen hält.
- Strategic asset transfer to maintain shareholder value through DRNK shares
- Shareholders will receive dividend distribution of DRNK shares
- STAL CEO Anthony Anish assumes leadership role at DRNK
- Potential for improved liquidity through DRNK's public trading status
- SEC rejected STAL's 2023 and 2024 audits
- Failed to secure funding despite credit facility documentation
- Downgraded from OTC Pink to expert market due to delayed filings
- Complete divestment of company assets indicates significant operational challenges
This transaction is an excellent move for STAR and its shareholders. Following the completion of DRNK's audits and the effectiveness of its registration statement, STAR shareholders will receive a dividend distribution of DRNK shares, establishing ownership interests in both entities. The transaction also initiates a change of control at DRNK. Anthony Anish, CEO of STAR, has assumed the CEO role at DRNK, and new board appointments are expected imminently to advance previous and new initiatives.
STAR has faced a number of regulatory and financial headwinds in 2024:
- Despite executing documentation for a sizable credit facility and receiving a "no further comment" from the SEC regarding its S-1 filing, STAR did not secure funding.
- The SEC rejected STAR's 2023 and 2024 audits following the suspension of its former PCAOB-registered auditor.
- The Company was reclassified from OTC Pink to the expert market due to a delayed 10-Q filing after delays as a result of reauditing the 2023 and 2024 10-Ks.
Given these constraints, Star strategically chose to divest its assets to DRNK to preserve and grow shareholder value. In parallel, the Company will pursue approval of a 15C-211 filing with FINRA while leveraging its DRNK holdings.
Anthony Anish, CEO of Star Alliance International Corp., commented "We weighed this decision carefully and ultimately determined that transitioning assets to a publicly trading vehicle was the best course for our shareholders, allowing them access to a more liquid market as we resolve outstanding issues."
Richard Carey, Chairman of Star Alliance International Corp., stated "Our commitment has always been to our shareholders. This move provides a pathway to restore trading while simultaneously building asset value via our DRNK stake."
About Star Alliance International Corp.
Star Alliance International Corp. ("Star" or "STAL"), founded in 2014 and incorporated in
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This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
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 SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
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SOURCE Noho Inc.; Star Alliance International, Corp.
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