IRVINE, CA--(Marketwired - Jan 31, 2017) - UA Multimedia, Inc. (OTC: UAMM), a technology and indoor growing solution provider, is pleased to announce that the Company is retiring 40 million shares of its Common stock.
The Company had successfully reached an agreement with a major shareholder to retire 40 million shares of aged restricted Common stock. The share cancellation represents an approximate ten percent reduction of the stock issued and outstanding.
In addition to working on the final stage with OTC Markets and other entities to achieve the Current listing status, the Company continues to look for ways to optimize its operation and capital structure in anticipating for rapid future growth.
Upon achieving the Current status, the Company will initiate the process for a name and ticker change to better reflect its new direction and to facilitate successful branding efforts.
The development of the indoor growth station prototype is progressing well. The Company expects to begin testing several models in a few weeks and swiftly proceed to the production shortly thereafter. In addition, the Company is working on a few other solutions for the cannabis sector and will update its shareholder in the near future.
"We have been receiving increasing amount of interest for personal indoor grow systems since the beginning of this year," stated Thu Pham, Chief Executive Officer. "We are confident that our cost effective, high quality solutions will be very well received and a solid revenue stream for the Company."
The Company will begin offering pre-sale units at a discount sometime next month. Interested customers should contact the Company at firstname.lastname@example.org.
About UA Multimedia, Inc.
UA Multimedia, Inc., a former media company, has entered the cannabis industry with the anticipated launch of its turn-key modular indoor growing systems. The Company also plans to introduce a range of cannabis based products and dietary supplements in the near future.
For more information, please visit http://www.uammedia.com. Facebook: https://www.facebook.com/uammedia.
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. UA Multimedia, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.