SOHM, Inc., Update on Potential Non-Toxic Funding Commitment with Institutional Investor and Possible Expansion of Core Business to Adopt Blockchain Technologies
Chino Hills, CA—April 4, 2018 – SOHM, Inc. (PINKSHEETS: SHMN) a globally-known generic pharmaceutical manufacturer, announced on January 19, 2018 that it had signed a binding Letter of Intent with a Canadian Institutional Investor for a sizable investment in SOHM. The proposed, non-toxic investment, was intended to further the Company’s core business model with a view to adopt blockchain technologies and the cryptocurrency markets; in particular, crypto mining and creating a synergistic token for the Company’s products and future services. The proposed investment described above has not been made, and, at this point, both the proposed investor and the Company are assessing the Company’s current operations, strengths, and opportunities, as well as assessing whether or not it would be beneficial for the Company to engage in blockchain technologies or the cryptocurrency markets.
The Company is conferring with two (2) consultants to examine potential blockchain and/or cryptocurrency business and whether the same could be incorporated into the Company’s operations at this stage. Such examination includes trying to understand (a) the types and amount of resources that would be required to implement such business; (b) the various areas of compliance that would be required; (c) the applicable regulatory issues; and (d) the Company’s overall long-term and short-interests. The Company believes that this examination will require a significant amount of time.
The Company is also working to publicly provide on OTCMarkets.com its updated financial statements. The Company expects that the first few sets of financials will become available in the next thirty (30) to forty (40) days.
The Company’s gross revenue for the recently ended quarter of March 31, 2018, was approximately $175,000 and the Company expects to realize at least $175,000 in gross revenue for the quarter ending June 30, 2018. During the end of year 2017 , the Company has received purchase orders for more than $500,000 and therefore anticipates that its gross revenue will exceed $750,000 for the fiscal year ending December 31, 2018. The Company’s recent success in generating revenue is the result of focusing its efforts on promoting its own products as well as supplying private label products.
About SOHM, Inc.
SOHM, Inc., is a growing generic pharmaceutical manufacturing and marketing company with a global presence and marketing plan that assure continuous growth. SOHM manufacturing and marketing target the rapidly growing healthcare segments such as Nutraceuticals, Cosmeceuticals, and other major therapeutic segments. SOHM is headquartered in North America with manufacturing in India as well as strategic alliance with US manufacturing facilities. Although SOHM’s generic pharmaceuticals are exported globally and was introduced to the USA in early 2013, SOHM continues its focus on distribution to emerging markets in Africa, Latin America, and Southeast Asia.
To know more about SOHM, Inc., visit www.SOHM.com
Safe Harbor Statement:
This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on for the most recent fiscal year, our quarterly reports uploaded from time-to-time on OTCMarkets.com.
For more information, please contact:
SOHM, Inc.
714-522-6700