PLEASANT HILL, Calif., May 11, 2017 /PRNewswire/ -- Textmunication Holdings, Inc. (OTC-PINK: TXHD), a cloud-based mobile SMS marketing platform provider, filed an 8-K on May 10, 2017 detailing an Exchange Agreement with CEO and Chairman, Wais Asefi. The agreement exchanges Mr. Asefi's 1,750,000,000 shares of common stock for 2,000,000 shares of newly created Series C Convertible Preferred Stock. Mr. Asefi now holds 250M shares of restricted common stock. The transaction was filed with the Nevada Secretary of State on May 9, 2017.
The agreement reduces Textmunication's outstanding common stock by 1.75B shares moving the shares into Series C Preferred Stock. Textmunication continues seeking shareholder value initiatives while executing on its core SMS blueprint. The company will continue updating the investment community on sales and operational plans as they become material events.
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About Textmunication Holdings, Inc.
Textmunication is an online mobile marketing platform service provider that helps health clubs, martial arts studios, salons and healthcare firms communicate with their members by allowing them to build loyalty, engage member retention, and create new business through a non-intrusive, value added medium. Textmunication connects members to the content they desire through any mobile device for health clubs and salon events, as well as promotions. Clients can send the most up-to-date offers, discounts, member alerts, events, PT schedules, or any other personalized campaign. www.textmunication.com
Safe Harbor Provision:
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Textmunication Holdings' current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Textmunication Holdings' filings with the Securities and Exchange Commission. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and any document referred to in this press release.
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SOURCE Textmunication Holdings, Inc.