DNA Brands Corrects Information Displayed on OTC Markets and Provides Guidance Moving Forward
FORT LAUDERDALE, FL--(Marketwired - May 23, 2017) - DNA Brands Inc. (OTC PINK: DNAX) would like to update its shareholders on recent company developments.
Over the past few quarters, the company's Transfer Agent has experienced a glitch of some sort, whereby they have been relaying incorrect information on shares issued and outstanding regarding the company. Last week on OTC Markets, DNAX Shares Outstanding displayed roughly 19.1 Billion shares issued and outstanding, which was incorrect. In addition to the company being aware of this situation, shareholders had also raised this concern.
Regarding this issue, CEO Adrian McKenzie stated the following: "I have been working with the Transfer Agent as well as OTC Markets, to make certain that the correct company information is relayed to the public. I have uploaded the Amended Q1 Financials, which is now displaying the correct shares issued and outstanding on the OTC Markets Disclaimer, which is 14,317,531,899 as of May 19, 2017."
Although some may feel that the company has a lot of shares outstanding, the majority of the shares issued and outstanding are held by a group of about 20 original DNA investors. The majority shareholders have agreed that DNA Brands will enter ancillary business opportunities surrounding the MMJ/CBD/Industrial hemp markets.
As stated in the previous PR, Adrian McKenzie met recently with company counsel, Andrew Telsey in Denver, Colorado. Andrew I Telsey Esq., is considered by many to be the Godfather of MMJ/CBD and SEC related Law. Mr. McKenzie also had the opportunity to review and evaluate different business opportunities surrounding the MMJ/CBD/Industrial hemp marketplace while in Colorado.
"I look forward to a very busy and productive summer ahead. I plan to be traveling back to Colorado and throughout the Northeast building relationships within the industry," concluded McKenzie.
DISCLAIMER
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 1933, 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.
