NOHO Inc (OTCMKTS:DRNK) shares were flat on Friday and down 1.50% in after-hours trading to $0.00020. The company has a market cap of $1.23 million at 656.04 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.00.
Following reports on how NOHO Inc has been increasing its stake in the cannabis industry, the company made several other acquisitions to diversify its holdings. The company is still keeping in line with its plans to combine the advertising technology platform and sales operations of the acquired companies under one roof and launch sales beginning in January 2017.
“As a result of our experience in merchant services involving setting up credit card processing for online product offers, we were very fortunate to have Direct Response Marketing agree to create and run a customized, online sales campaign for the NOHO 2oz. shot,” said NOHO Inc CEO David Mersky.
Direct Response Marketing is engaged in the development and management of online product sales outside of the United States. In particular, it focuses operations in several English-speaking countries, such as the U.K., Australia, New Zealand, South Africa, and Singapore. With their agreement, Direct Response Marketing will manage all international sales efforts, which include inbound and outbound telephone sales and customer service and has proposed an exclusive international distribution agreement which will pay NOHO Inc for customer acquisition, units sold, as well as a revenue share of ancillary product sales.
Soon after, NOHO Inc announced that it procured a license to Placemaker, a first-of-its-kind small business loyalty program that began as Supportland, serving the Oregon and nearby Canadian markets. This network promotes local buying and awards merit points to customers for patronizing local businesses, which can be redeemed for products and services from other network merchants.
Lastly, NOHO Inc also egotiated a letter of intent to acquire, TargetRemarket, with an anticipated closing date of January 31, 2017. This target has contributed $500,000 in test revenues this year, adding to the company’s group of advertising technology acquisitions namely Essential Marketing Systems and ChoiceAdz.com Inc operating as BizConnect360.com.
“To get these acquisitions done before the end of the year has been a gigantic effort and I want to thank the people on my staff for their hard work,” remarked CEO Mersky.
The EMS acquisition will add an additional minimum $1 Million valuation to the Company’s balance sheet as well as consolidate operations and support. Integration of the ChoiceAdz platform will allow the Company to launch sales from its new sales center opening in January 2017 and offer the full slate of services under the BizConnect360.com brand.”
NOHO Inc develops, markets, sells and distributes a beverage category product named NOHO or The Hangover Defense. This is a dietary supplement, which is taken before and after the consumption of alcohol that helps to prevent the symptoms associated with a hangover. It is formulated by a Doctor of Pharmacy and comes in a 2 ounce shot which as a flavor and doesnt’ contain caffeine or stimulants.
The company has also launched NOHO Gold Premium Lifestyle Beverage, which is developed and marketed as a healthy beverage in premier nightclubs On Premise bar and club venues in the United States including the Fontainebleau Hotel, LIV nightclub, Story nightclub, Day Light, Light, The Opium Group properties, and others.