LAS VEGAS, NV--(Marketwired - Nov 29, 2016) - EZJR, Inc. (OTCQB: EZJR) today announced that it has entered into an agreement to obtain the exclusive U.S. rights to the Her Imports trademark. In exchange for these rights the Company has issued to Cabello Real Ltd, the holder of the rights $10 million of unregistered callable preferred stock and 15,000,000 unregistered common stock in EZJR. In addition to these rights, EZJR also purchased certain other assets owned by Cabello including customer lists and various digital content. Simultaneously, EZJR has terminated its Marketing and Selling Agreement with Her Holding Inc. Because of this termination EZJR will recognize a one-time non-cash charge of approximately $1.3 million due to the write-off an intangible asset related to restricted common shares issued to Her Holdings as part of a royalty reduction agreement and forgiveness of certain advances to Her Holdings. It is understood that Cabello will continue to develop Her Imports stores outside of the United States including Canada, Europe and Africa.
Barry Hall, EZJR's CEO stated, "This agreement is a natural evolution of our business related to the Her Imports brand. We now intend to leverage this new asset with an aggressive three-year store and internet expansion program. Additionally, by eliminating the royalties currently paid to Her Holdings, we will immediately improve our financial performance and cash flow." Hall added, "The Her Imports brand is synonymous with high-quality hair extensions. We believe that we can use this to reputation expand our product line to other beauty products targeted at the urban fashion market."
About EZJR, Inc.
EZJR's primary business is to improve the sales performance of brands, products and services by way of our proprietary eCommerce platform and strategic leverage of social media buys. Our unique methodology minimizes the cost of generating leads and then maximizes the conversion of those leads into customers. After the initial sale, EZJR utilizes a process for increasing the lifetime value of those customers through quality content, support, and additional offerings.
Forward Looking Statements: Statements in this document contain certain forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of EZJR, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. EZJR, Inc. assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by applicable securities laws. For more information, please refer to EZJR, Inc.'s financial statements as filed with the Securities and Exchange Commission.