Business
Hiru Corporation (HIRU) Moving Forward Outlook
Hiru Corporation (HIRU) Moving Forward Outlook.
About this update from Hiru Corp.
[{"type":"text","content":"West Palm Beach, Florida--(Newsfile Corp. - August 1, 2024) - Hiru Corporation (OTC Pink: HIRU) (The Company) on July 26, 2024 Completed an Off Market Private Transaction Control Block Sale of Preferred Shares. This event and other events were filed as Supplemental Filing on OTC Markets, and as a 8k with the SEC. https://www.otcmarkets.com/otcapi/company/financial-report/408109/content, https://www.otcmarkets.com/filing/conv_pdf?id=17716956&guid=YBO-knmv0E5eJthHIRU addresses shareholders frequently ask questions regarding past management affairs of HIRU and the $1.4 million dollar debt remaining on HIRU's books. The water equipment serves as a security for this debt. Several interested prospects are currently considering the purchase of the equipment that is for sale. HIRU does not expect to be subject to a short sale or negative equity when they do so. We will cross that bridge when we get there and settle our accounts with the finance company if it is the case. There is no doubt that the equipment financier is being more than reasonable, courteous, and accommodating to the company. For clarification, the conversion rate relates to a backstop on the note and not to the actual number of shares the financier will receive from us. (See OTC filing footnote) Please research the term \"backstop\" in corporate finance for a more detailed explanation.https://www.investopedia.com/terms/b/backstop.asp#:~:text=In%20corporate%20finance Indeed, we are familiar with the affairs of ex-management (management prior to the interim management), however we cannot dwell in the past. Our focus is on today and HIRU's future. We have also received full disclosure of this debt and the relationship of the creditor, and the M&A firm that introduced us to HIRU. Obviously, there are other WIN-WIN benefits for us and our shareholders for choosing HIRU over other options.To that end, we would like to address HIRU's moving forward plans, HIRU's corporate vision, and future growth strategy. The company's new focus is on acquiring and/or collaborating with and merging both large and small profitable mines, as well as large real estate construction projects. Our vision is to develop the Company into a small conglomerate. Another of the FAQ's is \"how big is it?\" New OTC rules sanction companies that release news ahead of official filings. Without gettin...