ALPHARETTA, Georgia, January 6, 2014 /PRNewswire/ --
Here To Serve Holding Corp. (OTCQB: HTSC), a holding company developing a Waste Division, specialized in solid waste management and environmental services and currently a software development company, today announces it has signed the definitive agreement to purchase its platform waste management company. The waste management company located in the Midwest will add over $10.5M in annual revenues along with over $2.75M in positive EBITDA. This is a major step toward the vision of Jeffrey Cosman, CEO of Here To Serve Holding Corp. The anticipated final closing of the waste management company will happen no later than mid February 2014, at which time HTSC will disclose more information about the transaction and the waste management company.
Jeffrey Cosman, CEO of Here To Serve Holding Corp., stated, "Our platform waste management company is a remarkable company. The partnership and management team are one of the best in the business and I am thankful for their active participation in drafting and executing the purchase agreement. In addition, each partner sees the vision of HTSC and will participate in long term consulting agreements in order to assist HTSC in ownership transition and future growth of the company." "My goal is to have revenues in our Waste Division between $35M and $50M by the end of June 2014. We have identified several acquisition targets and are in process of negotiating with them in an attempt to close them in the next 90 days, which will get us close to the $35M revenue target," said Cosman.
MISSION OF HERE TO SERVE HOLDING CORP - WASTE DIVISION:
The mission of Here To Serve Holding Corp is to bring back the culture of entrepreneurship BFI (Browning-Ferris Industries) had cultivated in the marketplace in the 1970's and through the early 1990's. Mr. Cosman's father, Jim Cosman, Sr. had a Hall of Fame career at BFI and later helped to develop the early culture of Republic Services as President and COO, when it too was fast growing. Going forward, HTSC looks to partner with experienced haulers, wanting to participate in a dynamic growth company and who want to remain with the company to realize their local vision going forward. We expect building this company in a vibrant, aggressive culture will attract many opportunities for owners to financially exit their companies while staying on to realize the growth of exponential shareholder value they cannot realize as a private company nor selling to the industry leaders.
ACCOMPLISHMENTS OF HERE TO SERVE HOLDING CORP SINCE SEPTEMBER 5, 2013:
- Reduced the authorized shares from 3,002,000,000 to 402,000,000 which is an 86% reduction
- Eliminated roughly $460,000 worth of debt owed to the former CEO
- Acquired cConnects and cDetails platforms from COVI Point, LLC
- Have 6 programmers working to complete IDS and cConnects for demo in January 2014
- Signed an NDA with a $35 billion dollar company to discuss and conduct due diligence on cConnects
- Filed all delinquent past quarterly reports with OTC Markets
- Filed all annual financial reports with OTC Markets
- Brought OTC Market status up from "Stop Sign" to "Yield Sign" and to "OTC Pink Current Information".
- Negotiated and eliminated warrants due to a major shareholder, which may have resulted in the issuance of hundreds of millions of shares. This action significantly reduced its potential dilutive liabilities.
- Completed two-year audit as of September 30, 2013.
- Filed Form 10 with the SEC in December 2013 and awaiting comments back, in order to be a Fully Reporting Entity
- Have increased the stock price from $0.007 to $0.175 (1/3/2014 close).
- Working to solidify 3 outside Directors to join Jeffrey Cosman, Chairman - CEO on the board.
- Negotiating with several additional waste acquisitions, which could close in the next 90 days.
- Negotiating with another company to build an additional Division in HTSC, which would then be used as a national expansion platform in a fragmented industry.
On April 2, 2013, the U.S. Securities and Exchange Commission issued guidance permitting companies to use social media sites including Facebook Inc. (FB) and Twitter Inc. to communicate company announcements HTSC encourages the investment community to follow all HTSC developments as it starts its practice of releasing news and other financial and product updates on its Facebook page at https://www.facebook.com/pages/Here-To-Serve-Holding-Corp/476655635785601?fref=ts as well as its Twitter feed at https://twitter.com/htshc.
ABOUT HERE TO SERVE HOLDING CORP. Here To Serve is a holding company building a division in the solid waste industry, as well as an existing Software as a Service (SaaS) developer whose platforms create mobile and cloud based applications for industries ranging from law enforcement and municipalities. Here To Serve Holding Corps' technology products include: Interactive Defense SystemTM, for law enforcement and other municipal departments and cConnectsTM, for efficient communication and fleet/asset management using mobile and web based portals.
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Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties within its filings with the OTC Markets and/or Securities and Exchange Commission.
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