Hiru Corp. - Common Stock Cancellation
Hiru Corp. (HIRU) announced a cancellation of 288,012,618 shares of restricted Common Stock, reducing the total outstanding shares to 1,460,169,677. This cancellation represents a 16.47% reduction in shares, minimizing dilution for current shareholders. The Company has also lowered its authorized Common Stock from 4,995,000,000 to 1,750,000,000, aimed at improving its capital structure. The shares affected were held by a non-affiliate long enough to remove the legend, thus complying with regulatory exemptions.
- 288,012,618 shares of restricted Common Stock canceled, reducing outstanding shares by 16.47%.
- Authorized Common Stock decreased from 4,995,000,000 to 1,750,000,000, improving capital structure.
- None.
PHOENIX, Nov. 23, 2021 /PRNewswire/ -- Hiru Corp. (the "Company" or "HIRU" – OTC Pink Sheets: HIRU) – HIRU would like to announce the cancellation of a significant amount of Common Stock of the Company.
At the current time, the Company has 1,748,182,295 shares of Common Stock issued and outstanding which is made up of 539,383,495 shares of restricted Common Stock and 1,208,798,791 shares of unrestricted Common Stock. The Company will be cancelling to treasury 288,012,618 shares of restricted Common Stock.
Kathryn Gavin (HIRU Sole Officer and Director) stated... "This cancellation of 288,012,618 shares of Common Stock will lower our issued and outstanding Common Stock to 1,460,169,677. This is a significant cancellation in the amount of
This Common Stock cancellation will result in less dilution to the current market float as the shareholder was not an affiliate and had held the block long enough to have its legend removed pursuant to either the transactional exemption under section 4(a)(1) of the Securities Act of 1933 or the safe harbor promulgated under the same under Rule 144.
Further, the Company has made several moves to benefit the shareholders of the Company with regards to management its capital structure. Previously, the Company lowered its authorized Common Stock from 4,995,000,000 to the current authorized of 1,750,000,000 and the current Common Stock cancellation announced in the market awareness release.
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ABOUT US
Hiru Corp. is a Georgia corporation, is a public quoted Pink Sheet issuer under the ticker symbol "HIRU" (the "Company"). The Company reports as an alternative reporting issuer with OTC Markets Group, Inc. and is current in its mandatory required filings (e.g., Pink Sheet Current). Currently, the Company has one wholly owned, operational subsidiary, AZ Custom Bottled Water, Inc., a Nevada corporation ("AZ Water"), which owns and operates a commercial water bottling and labeling facility based in Phoenix, Arizona. AZ Water operates a B2C website at https://azcustombottledwater.com/.
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SOURCE Hiru Corporation
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