Altavoz Entertainment, Inc. (OTC Pink: AVOZ) is a direct distributor of independent music to digital and physical retailers with its proprietary Fan Heat Map technology that provides market intelligence for product placement in brick-and-mortar and online stores. Shares surged 400% on Thursday, December 6, 2018. Over the past month, Altavoz has seen an average daily volume of 835 shares. However, on Thursday, 8,825,892 shares exchanged hands, equating to $176,000 in dollar volume.
Shares jumped Thursday after Altavoz announced it has signed a memorandum of understanding for a merger with Nurish.Me, LLC, a consumer-focused company aiming to improve “people’s health with effective dietary supplements.” Once merger is completed, Altavoz’s current business, including its debt, will be spun off as a private company owned by Nelson Jacobsen, CEO and Founder of Altavoz Entertainment. In addition, Altavoz will issue preferred shares to the Nurish.Me’s stockholders. The merger, along with the departure of the existing business and its debt, will significantly improve Altavoz’s balance sheet and capitalization table. Upon completion of the merger, Altavoz “intends to take the steps necessary to become a fully reporting, reorganized, and up-listed public company.” Here is the full press release detailing the merger:
Altavoz Entertainment, Inc. Press Release:
ROCKVILLE, Md., Dec. 06, 2018 (GLOBE NEWSWIRE) — via NetworkWire — Altavoz Entertainment, Inc. (OTC: AVOZ) (the “Company”) has signed a memorandum of understanding (MOU) with Nurish.Me, LLC for a merger of the companies. Under the terms of the merger, Altavoz will issue preferred shares to the holders of Nurish.Me’s interests.
Upon completion of the merger, Altavoz’s current business, along with its debt, will be spun out to become a private company owned and controlled by the Company’s founder, Nelson Jacobsen. A copy of the MOU is attached. In contemplation of this change in business direction, the Company’s current board and CEO have resigned and have been replaced by interim management.
Nurish.Me is an evidenced-based, science-driven, and consumer-focused company founded by entrepreneurs, innovators, and scientists on a mission to improve people’s health with effective dietary supplements. The overarching mission of Nurish.Me is to lead a necessary paradigm shift in the dietary supplement industry by only marketing products that have been clinically tested, are formulated with proprietary technology to achieve the highest levels of efficacy, and provide the best value.
The merger with Nurish.Me and spin out of its existing business and debt will greatly improve the Company’s balance sheet and capitalization table. Once completed, the Company intends to take the steps necessary to become a fully reporting, reorganized, and up-listed public company.
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including “could,” “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company’s reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.
Article By: Andrew Rego