WHIPPANY, N.J., Jan. 19, 2016 /PRNewswire/ -- Pazoo, Inc. (OTC Pinks: PZOO) (German WKN#: A1J3DK), is announcing that it has filed a Preliminary Form 14C with the SEC (United States Securities and Exchange Commission) today, announcing its intention to reverse split the common shares 100 for 1 expecting this to be the new capital structure moving forward.
The Pazoo Board of Directors and Management felt this was the best time to conduct the reverse split with the expectation that this should be a sound capital structure for the company to aggressively move forward into the future. The timing for this company action is right because we expect the MED (Medical Enforcement Division) in Colorado to approve the transfer of management of the testing laboratory from its current hands to Pazoo's Licensee, Harris Lee Colorado, LLC in the very near future. We also expect our testing laboratory in Las Vegas Nevada to begin ramping up operations in the very near future. Now that the company expects revenue generating to occur in both an aggressive and a significant way in the very near future, the company felt that now is the time to put this new company capital structure in place moving forward.
Pazoo CEO David Cunic stated, "I have been quoted many times over the past year speaking about Pazoo's upcoming breakout success for building a great future and overcoming the challenges associated with a new industry. Well, I am happy to say that all of the pieces of the puzzle have been put in place, with one of the final pieces being to recapitalize the company as a whole. Filing the Preliminary 14C is showing that nearly every hurdle to our success has been crossed and we are confident that revenue will be ramping up in both Colorado and Nevada. Now is the perfect time for us to recapitalize the company structure so everything is sound and in place for the company to grow and blossom in the very near future. These are very exciting times."
About Pazoo, Inc.:
Pazoo, Inc. is a company focused on health, wellness and safety. Our focus is to provide best-in-class laboratory testing of cannabis and cannabinoids to protect consumers from impurities, contaminants and other irregularities. Through our wholly owned subsidiaries, Harris Lee and MA & Associates, Pazoo provides industry leading laboratory testing of cannabis. Pazoo is licensed to test cannabis in Nevada, with a focus on expansion into other states. Additionally, Pazoo delivers a comprehensive array of health and wellness information on its website www.pazoo.com, and features industry experts from both the health and wellness arena and the pet industry. Lastly, our newly formed wholly owned subsidiary CK Distribution LLC, provides the marketing and sales agent for the distribution of non-controlled hemp products throughout the USA. Non-controlled hemp products are the items utilized by the industry that support grow facilities, infusion companies and dispensaries.
Safe Harbor Statement:
This update includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as Pazoo, Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statement.
SOURCE Pazoo, Inc.