Business
Here To Serve Holding Corp. Cancels 75 Million Shares of Common Stock
Here To Serve Holding Corp. Cancels 75 Million Shares of Common Stock.
About this update from Mesa Home Resources Inc.
[{"type":"text","content":"Here To Serve Holding Corp. (OTC:HTSC) (the “Company”) announced today that its board of directors processed a cancellation resolution authorizing the outright cancellation without reissuance of 75 million shares of common stock. In 2018, the Company purchased 75 million shares from the Company’s former Chief Executive Officer (the “Former CEO”) by issuing $2.5 million in convertible securities to an entity controlled by the Former CEO. On September 30, 2019, the Company purchased the $2.5 million in convertible securities from the Former CEO’s entity for a purchase price of 4.99 percent of the Company’s outstanding common stock, or 2,503,500 shares of the Company’s common stock.“We cleaned up our balance sheet and eliminated all convertible debt on September 30, 2019,” said Paul Riss, the Chief Executive Officer of the Company. “However, we treated the 75 million shares surrendered by our Former CEO as treasury stock on our balance sheet. Consequently, our shares issued were 75 million shares greater than our shares outstanding, and it was confusing to some investors who focused on the number of shares issued, because that is the number that OTC Markets publishes. We cancelled the 75 million shares and as of today OTC Markets is listing our common stock as having 50,732,649 shares issued and outstanding.”To see the transfer agent verification of the 50,732,649 shares outstanding on the OTC Markets website, visit the HTSC profile at https://www.otcmarkets.com/stock/HTSC/security.About Here To Serve Holding Corp.Here to Serve Holding Corp. (HTSC) operates as three divisions: Novus Ordo Industries Inc., ICF Industries Inc., and Executive Industries. Novus is a construction company focused on the development of residential homes, commercial properties and cannabis facilities using Insulated Concrete Forms (ICF). ICF Industries Inc. is a distribution, consulting and sales corporation that markets ICF construction material in North America. The added strength and security resulting from using both our CannaBlock and CannaCrete products is designed to create a complex that protects the building from fire, flooding, mold, mildew, pathogens and equipment loss. ICF buildings can withstand 250 mph sustained winds. Executive Industries is a consulting division that offers companies assistance with corporate pro...