Everybody's Phone Company Plans to Enter $500 Million Hydroponics Industry While Changing Its Name to Reflect New Direction
(Marketwire Via Acquire Media NewsEdge) HOUSTON, TX -- (Marketwired) -- 03/25/14 --
Everybody's Phone Company, Inc. (PINKSHEETS: EVPH) is pleased to announce that is in the process of entering the $500 Million Hydroponics Industry*. The Company's first step will be holding its special shareholder meeting via conference call on Thursday, April 10, 2014. Pending approval during the Shareholder's Meeting, the Company will change its name to Innovative Holdings, Inc. to reflect its new direction of acquiring revenue-generating subsidiaries in the hydroponics industry, one of the fastest growing industries in the U.S. today.
Once approved by the Board of Directors, the Company plans to enter into a Letter of Intent with a hydroponics company within the next 14 business days to become a wholly owned subsidiary of the Company. The Company will also search for other acquisitions to help create a diverse revenue base for its shareholders.
"We are very excited about adding this new business segment to our Company and the growth in revenues and shareholder value it will add," said Norman George, President and Chief Executive Officer of Everybody's Phone Company. "Innovative Holdings Inc. will also continue to do business as Everybody's Phone Company under its existing model of providing prepaid telephone services to lower income consumers."
After approval from the Shareholder's Meeting, the Company will submit a request with FINRA for a name and stock symbol change. The Company will also review potential changes to its Management Team and its Board of Directors.
The Company announced recently that it had received the initial draft of its Form 10 Registration Statement for review and plans to file it with the Securities and Exchange Commission in the near future. The Form 10 will become effective 60 days after filing with the SEC. The Company will then be fully reporting. The Company also recently filed its audited financial statements for the years ended December 31, 2012 and 2011 on OTC Markets.
*Per Marijuana Business Daily on September 12, 2013.
About Everybody's Phone Company, Inc.Everybody's Phone Company, Inc., sells prepaid, unlimited local (dial tone) telephone service to the residential market, primarily in greater Houston, Texas. The Company is fully licensed by the Texas Public Utility Commission to resell telephone services throughout the State [Service Provider Certificate of Operating Authority (SPCOA) No. 60785]. Upon achieving critical mass in Texas, the Company plans to expand its prepaid telecommunications product offerings nationwide. For more information, visit www.everybodysphonecompany.com.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Everybody's Phone Company Tel: (713) 268-1610
Source: Everybody's Phone Company, Inc.
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