PORT ST. LUCIE, Fla., Jan. 4, 2021 /PRNewswire/ -- 4Cable TV International, Inc. (OTC: CATV) (the "Company") announced today that it completed the acquisition of several companies devoted to support a global CBD services and products company. Effective December 31, 2020, the Company acquired 100% of the equity interests of each of Health Care and Wellness Clinics of America, LLC ("HCWCOA"), and Corporation Clinic, LLC ("Corporation Clinic"). As a result of the acquisitions, the Company will operate two franchise models in the CBD retail arm, one marketing company creating leads to the CBD industry, and the sales and distribution of all CBD-based products manufactured by the Company and its subsidiaries. These acquisitions, together with the Company's previously announced pending acquisition of CIGN, LLC, further the Company's new strategy of transforming the Company into a fully integrated global CBD/hemp business.
The Company acquired HCWCOA and Corporation Clinic for aggregate consideration of approximately $900,000 and $350,000, respectively. In each transaction, 70% of the consideration was paid in the form of newly issued shares of the Company's Series B preferred stock and 30% was paid through the issuance of a promissory note. The shares of Series B preferred stock, which are convertible into shares of Company common stock, were valued at $0.0017 per share, which represents the highest quoted price of a share of the Company's common stock during the last 30 days. Each promissory note bears interest at an annual rate of 6% and matures on the earlier of December 31, 2021 or the consummation of a qualified financing.
Corporation Clinic, was owned by non-affiliates of the Company. Michael Feldenkrais, the Company's Chief Executive Officer and sole director, indirectly owned 50% of the equity interests in HCWCOA and, therefore, received 50% of the consideration payable in connection with that acquisition. Mr. Feldenkrais also owns a majority of the voting control of the Company through his ownership of the Company's Series A preferred stock, which possess super-voting rights. The Series B preferred stock issued in connection with the acquisitions do not possess super-voting rights.
About Health Care and Wellness Clinics of America
Health Care and Wellness Clinics of America is a franchise holding company that, together with its subsidiaries, operate three distinct business models within the CBD business world. www.hcwcoa.com
The first model involves medical clinics called Chai MD (pronounced "high") which provide a lifestyle medicine program that incorporates Cannabis to promote a better, longer, and healthier life. Lifestyle medicine involves the use of evidence-based lifestyle therapeutic approaches, to prevent, treat, and, oftentimes, reverse lifestyle-related, chronic diseases that are so prevalent today. Rather than just treating symptoms with ever-increasing quantities of medication and procedures, Chai MD applies a lifestyle medicine-first approach that focuses on identifying and eradicating the root causes of disease. Chai MD's unique methods combine lifestyle medicine, lifestyle learning, aesthetic services, alternative medicine, chiropractic care, medical marijuana patient services, and CBD products that strategically position its clients to look and feel their best. Chai MD is in a unique position to provide innovative and customer-focused CBD based products and related services in its application in human wellness. www.chaimd.com
The second model is a bistro called Hip n Chai which provides an ambience and diet wherein the customers get a 90% plant-based whole food diet combined with the benefits of CBD and other cannabinoids. The goal is that the clients eat well, take 10,000 steps a day, or get 30 minutes of moderate exercise a day, and practice stress management techniques daily. www.hipnchai.com
HCWCOA owns a third business model called Get Medicated which is a lead generator in the Cannabis industry. This company by way of marketing, generates clients to both the clinics and the bistros at a cost per call scenario and acts as the mobile clinic division with ambulances that provide services relating to medical marijuana cards and product sales. www.getmedicated.com
Health Care and Wellness Clinics of America is a limited liability Delaware corporation, now in its 2nd year of business. The company began by opening locations, preparing them, and then selling the operating venue location while continuing to explore franchising avenues. The products produced by HCWCOA are currently available for sale, both in the wholesale market as well as online. Additional information on Health Care and Wellness Clinics of America is available at www.hcwcoa.com
About Corporation Clinic, Inc.
Corporation Clinic was established in December 2014. The company operated one of the clinics and bistros prepared by Healthcare and Wellness Clinics of America in the Lauderhill Mall. It then became the wholesale and online distribution arm of the products under the brands Chai and Hip available at www.hip4all.com. Corporation Clinic and HCWCOA have worked closely together since the inception of HCWCOA.
About 4Cable TV International, Inc.
4Cable TV International, Inc. (OTC: CATV) is seeking to create and operate a fully integrated global CBD/hemp business, ranging from growing to retailing. To accomplish this strategy, the Company has begun to actively seek acquisition targets in the CBD/hemp industry, which may include companies in which the CEO or other related parties have interests. The companies will be consolidating all their operations into new offices shortly.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding 4Cable TV International's business that are not historical facts are "forward-looking statements." Examples of forward-looking statements include, among others, statements regarding the Company's future business and prospects, strategic plans and strategic transactions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others: general economic and financial conditions; consumer demand for CBD/hemp products and services; volatility in the trading markets and the lack of liquidity in the Company's common stock; the Company's ability to successfully execute on its new CBD/hemp strategy; the Company's limited operating history in the CBD/hemp business; the legal status of the Company's CBD/hemp business; risks inherent in the CBD/hemp business; existing and new government regulations and changes in regulatory requirements; risks related to rules and regulations at the U.S. federal, state and municipal levels with respect to CBD/hemp; the Company's ability to obtain financing or raise capital on favorable terms or at all in order to execute its business strategy; the Company's ability to successfully identify and integrate acquired businesses; and risks associated with engaging in transactions with third parties, including related parties. For a discussion of additional general risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see CATV's OTC Market filings. Any forward-looking statement made by in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
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SOURCE 4Cable TV International, Inc.