Jetblack Corp (JTBK) Issues an Update on Company Progress

Jetblack Corp  (JTBK)  (“Jetblack”)  (“the company”)  would like to update shareholders on the company status regarding operations and shareholder deposits. As of recent, JTBK has been in touch with broker-dealers that have stated they are willing to accept JTBK stock. The company is still waiting on confirmation that shareholders of JTBK have been accepted but the company is becoming more optimistic that shareholders will have a place to deposit their JTBK stock. “It has been a battle trying to locate broker-dealers to work with our shareholders,” explained Daniel A. Goldin - CEO. 

If there is a location shareholders are able to deposit stock in the future, then possibly the company can raise some capital to execute on a couple of its directives. JTBK is still in the process of transferring ownership and location of a marijuana production license to a leased space in Hillsboro, Oregon. “We are not sure if we can continue with the transfer because of all the issues we have had recently. We view the license as IP for now. JTBK will have to decide if we would like to actually touch the plant, if the license is successfully transferred,” explained Daniel A. Goldin CEO. The company has also been developing and perfecting a formula for a wellness product, which does not contain any cannabis or cannabinoids. This product potentially can be marketed in all 50 states. “If we can raise a little capital, then we are hopeful we can finish formulation, bottle, package, and market test the product. We’d like to keep the details of the product confidential for now because we believe a speedy time to market is essential. We are also constantly evaluating and networking with businesses to see if we can make acquisitions of valuable assets or assets that can be turned around for the benefit of JTBK,” the CEO went on to explain. 

JTBK has been receiving many offers to discuss absorbing marijuana assets, which for a lack of a better term “have failed to become profitable.” These assets usually have unhappy debt holders. As cannabis market evaluations have been drastically cut in the industry, many debt holders have invested millions of dollars for operations that are drowning in losses. For example, many companies have poured millions into high tech grow rooms that will never turn a profit. “I do believe if we acquire the right assets with the right agreements, we can turn some of these assets around,” explained Daniel A. Goldin. “Some of these operations sometimes are trying to lure in more investment to expand losing operations, which is puzzling to myself. Why expand a losing operation, especially when the margins will continue to decline for the foreseeable future. If a company hasn’t made a profit during peek prices, it probably never will. In my opinion they need to bring in people that can turn things around and try to reach profitability, while somehow making the investors whole again,” the CEO went on to explain.

In addition the company will have to resubmit its restated articles of incorporation and corporate bylaws in the future to the Nevada Secretary of State. Nevada SOS denied the filing originally. The company will need to find out why and resubmit an acceptable version. JTBK is trying to strengthen its corporate governance among other things. The company is not trying to raise the authorize share count and this was not the reason for the filing. “We have a lot of items we are working on and are trying to get through everything as soon as possible. We are also limited by capital, so we will need to complete one step at a time,” the CEO explained. 

Disclaimer:

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward- looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties include market risks associated with our business, the inability to raise enough capital to complete our business, economic conditions and increasing competition. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes 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. The company is considered a penny stock. Penny stocks are illiquid securities and sometimes have large spreads. Investors should be cautious that they may not be able to sell their stock at a time of their choosing or for the price paid. Investors may even lose all their money as the company is not profitable and has large expenses staying public. If the officers in the company decide to leave or must leave, it would be detrimental to the company as well. Capital is also a concern, the company has limited capital and being able to raise capital is not a guarantee. If the company is not successful at raising capital, this would be devastating towards the business. 

Source and Media Contact:

JetBlack IR Department

(888) 611-5825

ir@jetblackcorp.com