DNA Brands Reduces Common Shares Authorized

Rhea-AI Summary

DNA Brands Inc. (OTC PINK:DNAX) has reduced its authorized common shares from 3.7 billion to 20 million. This decision aligns with the recent Form 1-A application for a 10 million share offering under Regulation A. The current share structure includes approximately 6.5 million shares issued, with management holding 3.5 million. There are about 2.5-3 million shares in public hands. The company, which owns the DNA Energy brand and has recent acquisitions in the solar marketing and cannabis sectors, aims to prevent shareholder dilution.

Positive

• Reduction of authorized common shares from 3.7 billion to 20 million reflects a commitment to anti-dilution.
• Structure now shows 6.5 million shares issued with management holding 3.5 million, enhancing shareholder confidence.

Negative

• None.

FORT LAUDERDALE, FL / ACCESSWIRE / March 9, 2021 / (OTC PINK:DNAX) DNA Brands Inc. is pleased to inform the public, the company has decreased it's common shares authorized from 3.7 Billion to Twenty Million (20,000,000), which also accounts for the company's recent Form 1-A application for a Ten million share offering under rule Reg A.

Management believes this update better reflects the company's current market capitalization and management's commitment to Anti-Dilution.

Currently as it stands the share structure is the following:

Approx: 6,500,000 Issued and outstanding , of which management owns 3.5 million shares.

Reg A - 10,000,000 Shares on reserve (Upon Qualification).

Approx: 2.5-3 Million shares in the Float (public hands).

About DNA Brands, Inc.

DNA Brands is a Holding company. It owns all the IP of DNA Energy. A two time award winning Energy Drink. In March 2020, the company acquired 954Solar LLC and has been engaged in Solar Digital Marketing and Sales. Also with the recent Acquisition of DNATags® in January 2021, the company now owns 2 pieces of Intellectual property, and will begin marketing DNATags® to both the medicinal and recreational Cannabis Industry.

Adrian M Patasar
info@dnabrandsinc.com
561-654-5722

Forward looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact included in this presentation are forward-looking statements. These statements relate to analyses and other information, which are based on forecasts of future results and estimates of amounts not yet determinable. These statements also relate to our future prospects, developments, and business strategies. These forward-looking statements may be identified by the use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "will" and similar terms and phrases, including references to assumptions. However, these words are not the exclusive means of identifying such statements. Although we believe that our plans, intentions, and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that we will achieve those plans, intentions, or expectations. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected or may prove unachievable. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise required by law.

SOURCE: DNA Brands Inc.

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FAQ

What recent changes did DNA Brands Inc. announce regarding its shares?

DNA Brands Inc. announced a reduction of its authorized common shares from 3.7 billion to 20 million.

How many shares are currently issued by DNA Brands Inc.?

Approximately 6.5 million shares are currently issued by DNA Brands Inc.

What is the share structure after the recent changes for DNAX?

After the changes, the share structure includes around 6.5 million issued shares, 3.5 million held by management, and 2.5-3 million in the public float.

What is the significance of the 10 million share offering by DNA Brands?

The 10 million share offering under Regulation A is aimed at raising capital while minimizing dilution for existing shareholders.

What does the recent press release suggest about DNA Brands' management strategy?

The management strategy focuses on anti-dilution and aligning share structure with the company's market capitalization.