Two Hands Corporation Announces Over 23% Debt Reduction

Rhea-AI Summary

Two Hands Corporation (OTC Pink: TWOH) announced a 23.05% reduction in total liabilities, amounting to over $320,300. CEO Nadav Elituv stated that the company is actively working with debt holders to further eliminate obligations, aiming to enhance attractiveness to institutional investors in 2022. The company continues to focus on its brands: Gocart.city, Grocery Originals, and Cuore Food Services, with recent successes including a 600-voucher order from a university for Gocart.city services.

Positive

• Reduced total liabilities by 23.05%, totaling over $320,300.
• Focus on debt elimination could attract institutional investors.
• Strong sales growth through Gocart.city, highlighted by a university partnership.

Negative

• None.

Toronto, Ontario, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Two Hands Corporation, (OTC Pink: TWOH) is pleased to announce that is has reduced its Total liabilities by an additional 23.05%.

“Management continues to work with its debt holders to reduce and eliminate the company’s liabilities.  As we continue to grow, we need to plan for our future, over the past few days we have eliminated just over $320,300 of debt.”, commented Nadav Elituv, Chief Executive Officer. “We will continue to work on reducing our overall obligations over the next few quarters in order to become more attractive to institutional investors in 2022.”

Nadav Elituv continues, “Our focus on Gocart.city, Grocery Originals, and Cuore Food Services continue to improve our sales.  A new university partnership has just ordered 600 - $50 vouchers for their students to receive their groceries from Gocart.city demonstrating the value of our programs.” 

Two Hands Corporation, (OTC Pink: TWOH) is a food distribution company through three on-demand food brands, Gocart.City, Grocery Originals, and Cuore Food Services. Please visit our website at www.twohandsgroup.com

ABOUT GOCART.CITY
Gocart.city, a division of Two Hands Corp. (OTC Pink: TWOH) is an online grocery delivery market that services the Greater Toronto Area and beyond. They curate and deliver the freshest produce and specialty foods in Southern Ontario. To learn more about Gocart.city, please visit www.gocart.city.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Any statement not regarding a historical fact is a forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the company's ability to finance its planned expansion efforts; the company's ability to raise funds on acceptable terms; the company's ability to successfully adapt its business model and such other risks disclosed from time to time in the company's reports filed with the securities and exchange commission including those on the company's annual report on form 10-K. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management's expectations, except as required by law.

CONTACT:
Two Hands Corporation
IR@twohandsapp.com
www.twohandsgroup.com
www.gocart.city

FAQ

What was the percentage reduction in liabilities for Two Hands Corporation?

Two Hands Corporation reduced its total liabilities by 23.05%.

How much debt did Two Hands Corporation eliminate recently?

The company eliminated over $320,300 of debt.

What is the purpose of Two Hands Corporation's debt reduction?

The goal is to become more attractive to institutional investors in 2022.

What brands does Two Hands Corporation focus on?

The company focuses on Gocart.city, Grocery Originals, and Cuore Food Services.

What recent order did Gocart.city receive?

Gocart.city received an order for 600 $50 vouchers from a university for grocery services.