San Diego, CA, Feb. 25, 2021 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTCPINK: TSNP) (“HUMBL”), announced today that the Financial Industry Regulatory Authority (“FINRA”) has processed the company’s corporate actions, as requested, and has had its name changed to HUMBL, Inc.
In addition to the change in the company’s name, HUMBL has executed a one for four (1:4) reverse split of its common stock, and made other changes to its share structure, including the creation of restricted preferred classes of shares which will be issued to former members of HUMBL, LLC and prospective investors of HUMBL. The authorized number of shares stated reflects these preferred shares on a presumed fully diluted basis.
In discussion about the reverse split, HUMBL’s COO and Corporate Secretary, Jeffrey Hinshaw, stated, “The company’s Board of Directors concluded that it was important to quell the volatility in the share price. Prospective investors and current shareholders were concerned that it was difficult to pinpoint the true value of the common shares. Furthermore, this will force any outstanding short positions to cover their position. The board was also sympathetic to the need not to wipe out the holdings of the shareholders, and therefore determined that this small reverse split would satisfy both requirements.”
As a result of the reverse split, HUMBL’s stock symbol will change to “TSNPD” on February 25, 2021 and then to “HMBL” on March 26, 2021.
About HUMBL, Inc.
The mission of HUMBL, Inc. is to deliver more seamless digital pairing experiences for consumers and merchants in the global economy. The HUMBL platform includes the HUMBL® Mobile App, HUMBL Hubs™ Merchant Software and the HUMBL Marketplace.
The HUMBL® Mobile App delivers more seamless global transactions, by integrating multiple currencies, payment methods and financial services into one-click for the customer, beyond primarily US only mobile wallet providers such as Zelle® and Venmo®.
The HUMBL Hubs™ merchant software and point-of-sale (POS) pairs customers and merchants together to use contactless payment technologies, helping merchants in majority cash economies to do things like accept debit cards, credit cards and USD stablecoins from HUMBL® mobile wallet users.
The HUMBL Marketplace will connect customers and merchants online in improved global commerce, via merchant shops, deal listings, affiliate programs and HUMBL Pay web checkout integrations.
Company Website: www.HUMBLpay.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.