PLEASANT HILL, CA / ACCESSWIRE / December 3, 2015 / Textmunication (TXHD), a leader in mobile marketing communications is pleased to announce two key initiatives increasing value for its shareholders. Textmunication CEO Wais Asefi recently issued 8-K filings allowing for the cancellation of the Schedule 14C filing and S-1 Registration.
Since September, Textmunication has taken several key steps to improve the share structure of the company.This week the CEO cancelled the Schedule 14C filing. The original filing (dated October 6, 2015) authorized the board of directors of the Company to amend its Articles of Incorporation to increase the number of authorized shares of Common Stock from 250,000,000 to 750,000,000 shares. The company has decided not to increase the authorized shares at this time.As of today, the Company's authorized capitalization consists of 250,000,000 shares of Common Stock, of which 107,738,595 shares remain outstanding.
In November, the withdrawal of the Company's Registration Statement on Form S-1, originally filed on June 2, 2015, was announced because the financing was no longer needed and never used. This cancellation eliminates any harmful dilution to shareholders.
Texmunication has delivered on its promise of increasing shareholder value by focusing on five key initiatives:
1. Improving the Company share structure
2. Reduce convertible notes to a manageable level without further dilution
3. Improve sales performance by hiring Aspire VC to outsource its sales infrastructure
4. Enhance the software platform to create new functionality and reporting features
5. Build on its leading Health & Fitness SMS position while opening new strategic markets
"My goal is to deliver on the promise of making Textmunication a shareholder-friendly stock investment," says CEO Wais Asefi. "Every move we make puts our shareholders first and improves our share structure and financial outlook to put us in a better position to up-list to a higher exchange in the near future."
Textmunication is an online mobile platform service that connects merchants to its customers using its proprietary, customized mass-market email texting solution. This solution allows the consumer to get the content they crave - anywhere, anytime through virtually any mobile device. This critical solution for mobile events and promotions significantly enhances client's visibility in the marketplace.
Forward Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
SOURCE: Texmunication Holdings, Inc