HemCare Health Services Signs Agreement to Retire 78,160,000 shares and cancels Debt
HemCare Health Services Inc. (OTC: HCRE) is please to announce it has reached an agreement with certain shareholders to retire and rescind 78,147,000 shares of its common stock.
The shares originated from the issuance of 100,000,000 shares issued for a license agreement with Ultroid Technologies in 2015. These shares were distributed to a number of individuals and nominees of Ulrohd..
To avoid any further legal action by HemCare's attorney's the shareholders agreed to return and rescind these shares and to waive claim to over $30,000 in alleged debt. This waiver and forgiveness removes any and all convertible debt on the books of the company. The changes will be reflected in the Company's upcoming 10K annual report for the period ending Dec 41, 2016.
The remaining 21,853,000 restricted shares have a stop transfer placed on the with the Company's Transfer Agent while management obtains a court order for their cancelation. Additionally management will be seeking cost and damages from these shareholders..
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publically update or revise any forward-looking statement.