SOURCE: Michael James Enterprises, Inc.
March 31, 2017 16:05 ET
WHIPPANY, NJ--(Marketwired - Mar 31, 2017) - Michael James Enterprises, Inc. (OTCQB: MJTV) provides this corporate update explaining where we are and what is on the horizon. Last August MJTV entered into a Stock Purchase Agreement with RP Capital Group Ltd for a Dronabinol treatment for sleep apnea. Simultaneously we came up with conceptualized a creative delivery system for our female sexual arousal product and filed for patent and trademark protection. We also came out with essential oil alchemy, LUNA and are in the process of expanding that offering to more essential oil mix products.
To inform the investment community of our corporate activities we engaged MoneyTV in the autumn of 2016 along with Smallcapvoice.com on longer-term engagements and these engagements, which will continue through the end of 2017. We also engaged Mr. McCarthy to buy ad purchase advertising space on different various consumer based websites to begin pre-branding our Company and the products pre-launch. A key move for branding MJTV and our products was the engagement of our Brand Ambassador, Dr. Kristina Kincaid who has made YABYUM full body orgasmic meditation videos. We pushed these videos out to over 50 social media forums and unexpectedly they went viral in a very short period of time creating now a following of almost 1 million people.
All of the materials introduced to the public has have been created by MJTV. None of our vendors created any materials disseminated to the investment community. No affiliates or insiders of MJTV has ever sold or bought any share common stock of the Company in the open market. In fact, C.E.O. James Farinella retired close to 9 million shares due to his desire for the investment community to take him seriously when he said he was concerned about dilution caused by the need to take on the customary convertible notes that typically convert at a 45% discount to the market price (all disclosed in our filings which can be found on our website) to fund the company to this point. In fact, because of the retirement of Mr. Farinella's shares, even with some note holder conversions in the first quarter of this year, we currently have fewer shares outstanding now than at 2016-year end.
Moving forward, it is the Company's intent to pay off all convertible notes in the coming two months through more conventional financing and to move as quickly as possible in bringing the VOLUPTAS product to the market. We have also been in talks with several other companies exploring the possibility of potential partnerships for the distribution and joint marketing of other products.
Safe Harbor Statement
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "will," "expects," and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
Michael James Enterprises, Inc.
Michael James Enterprises, Inc.
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