Business
HIRU CORPORATION ANNOUNCES COMPREHENSIVE CORPORATE ACTIONS TO ENHANCE GOVERNANCE AND CLARIFY OPERATIONS
HIRU CORPORATION ANNOUNCES COMPREHENSIVE CORPORATE ACTIONS TO ENHANCE GOVERNANCE AND CLARIFY OPERATIONS.
About this update from Hiru Corp.
[{"type":"text","content":"DOHA, QATAR, January 24, 2025 -- Hiru Corporation (OTC: HIRU) today announced that its Board of Directors has taken several significant actions to strengthen corporate governance, clarify operational structure, and enhance shareholder services.Share Transaction Review: The Board has initiated a comprehensive review of several significant share transactions from 2024, including:380 million shares were originally allocated for transfer to Patagonia Lithium Limited but issued to Bayern Industries LLC. These shares are currently under administrative hold pending review.242 million shares transferred to GB II Partners Inc. in September 2024194 million shares transferred to SLS Group LLC\"Our Board is committed to ensuring all share issuances comply with applicable securities laws and regulations while protecting shareholder interests,\" stated H.E. Sheikh Khalid Nasser A.S. Al-Thani, CEO and Chairman. \"The review process will include detailed examination of all transaction documentation, verification of consideration received, and compliance assessment with securities regulations.\"Water Business Separation and Note Resolution: The Board has taken definitive action to clarify the company's relationship with prior water bottling operations by formally rescinding a $1.4 million convertible note agreement from May 2022 with Bayern Industries LLC. This decision follows the discovery of material inconsistencies in documentation and financial records, including:No clear evidence of the $1.4 million being received as cashNo record of equipment purchasesNo corresponding asset entriesUnexplained fluctuations in reported loan balancesThe water bottling business and equipment remain with AZ Custom Bottled Water LLC, which has executed a quit claim transfer of the equipment to Bayern Industries LLC, followed by a lease arrangement for continued use. The equipment remains located at 5524 North 51st Avenue, Glendale, Arizona 85301, which is notably also the current address of The Alkaline Water Company, Inc. (OTC: WTER).Management Changes and Transfer Agent Update The Board has formalized the termination of all positions and relationships between former officer Sasa Vasiljevic and the company, effective immediately. Any compensation claims should be directed to the entity through which he was originally appointed.Additionally, the Board has autho...