SANFORD, MI, Dec. 20, 2017 (GLOBE NEWSWIRE) -- HPIL HOLDING (the “Company”) (OTC Pink: HPIL) today issued an update to its shareholders. HPIL Holding continues to actively seek a new CFO. Currently, Nitin Amersey, its Chairman and CEO who was appointed in October 2017, is the interim CFO. In light of the change of officers, the Company will file its 10Q for Q3 as soon as practicable.
Other updates from the Company include:
The Company has terminated discussions (previously announced on March 27, 2017) with Voyport LLC on investing in and / or partnering with Voyport LLC.
The Company continues to actively look for ventures in the digital currency space, smaller businesses in the technology space and other targeted companies to invest in and / or partner with.
The Company has today signed a Memorandum Of Understanding with RodDoc LLC to acquire a 100% of the Company. The Company is at an advanced stage in discussions with RodDoc LLC (RodDoc) for acquisition of the Company and expects to finish negotiations in January, 2018. RodDoc has a provisional patent in the ground drilling rod field. HPIL HOLDING will work with RodDoc to expand its market and locations. Both RodDoc and the Company intend to complete the agreement before January 31, 2018. Mr. Christopher Philbrick, CEO of RodDoc, said, “We are very keen to conclude our negotiations with HPIL HOLDING and to finalize our contracts as soon as possible in the New Year with the HPIL HOLDING arrangement and agreement completed.”
The Company also is in the final stages of negotiations with Royal Blue (See August 10, 2017 press release). Mr. Sam Kelley, CEO of Royal Blue, said, “Royal Blue intends to start sales in January, 2018 and is in negotiation with three major globally branded apparel and footwear companies to offer The Traditional Shotokan Karate-do Federation (WTFSKF) sponsored and approved products in the apparel and equipment product groups. Development and launching of the apparel catalog on an online store has begun. We are also negotiating with other retail and fulfillment groups regarding their services. We are also pleased to announce that Royal Blue is finalizing agreements to market products made by a major California based nutritional supplements company along with the WTFSKF branded apparel.”
HPIL HOLDING had sponsored the Traditional Shotokan Karate-do Federation’s (WTFSKF) World Karate Championship in Spain in September 2017. The sponsorship will continue in 2018 and the Company is actively negotiating with the Federation to develop an online Karate sports game and potentially also other similar Karate online applications. HPIL & The WTFSKF are together pursuing the development program of the WTFSKF to prepare the WTFSKF member countries for pre-selection to participate in the Tokyo 2020 Olympic Games. Karate becomes an Olympic Sport for the first time in 2020. HPIL continues to work with the WTFSKF on the licensed merchandising program and the development of branding opportunities. Mr. Ionel Bara, President of the WTFSKF, said ,“We look forward to the official start of our licensing relationship with HPIL HOLDING on January 1, 2018.”
Mr. Amersey said, “HPIL and the Traditional Shotokan Karate-do Federation are continuing to explore various modes of cooperation and advancement of their mutual agreement signed in December 2014 and further clarified with addendums earlier this year. The agreement is valid for 25 years from January 2018. The WTFSKF is also in the planning stages for the 2020 Olympic Games in Tokyo.
Mr. Amersey also said, “We are very pleased that our arrangements and plans are coming to fruition and we look forward to a successful 2018. We look forward to working with the WTFSKF, Royal Blue and RodDoc and developing a long term successful business.”
HPIL HOLDING (http://HPILHOLDING.COM) is a holding company listed on OTC Markets.
Safe Harbor / Forward-Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” “plan,” “potential,” “seek,” and “intend,” among others. These forward-looking statements are based on the Company’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.