SANFORD, MI — HPIL, (Marketwired) — 08/08/17 — HPIL Holding (the “Company”) (OTC PINK: HPIL) is pleased to provide an update on the Company.
The Company filed its 2016 10K on July 12th, 2017 and its Q1, 2017 10Q on July 28, 2017, thereby bringing the Company into a “Current” reporting status with the Securities and Exchange Commission (SEC). The Company also plans on applying to uplist to the OTCQB as soon as possible.
Mr. Nitin Amersey, CFO and Director of HPIL HOLDING, said, “We are moving ahead to realize our vision and look forward to successfully implement our business plans going forward.”
HPIL Holding has a number of ventures it has announced in the past along with along with others it is currently in negotiations with. They include the following:
The Company continues to work with the WTFSKF — the Okinawa Karate World Karate Governing Body to develop a revenue-generating plan based on its licenses with the karate federation. The licensing agreement was originally announced in an 8K filing with the SEC on December 30th 2014 and the agreement commences on January 1, 2018 and continues until December 31, 2042. The website of the WTFSKF is http://www.wtfskf.org. The karate clothing catalog can be found at http://stockblab.com/HPILH-WTFSKF-Clothing-Accessories-Sporting-Goods-Catalog.pdf
The Company has signed a Letter of Intent with Voyport Group Holdings (VGH) Deleware LLC., on March 21, 2017. The VGH website is http://voyport.com/. HPIL is involved in substantive negotiations with VGH to develop a mutually beneficial sales and marketing relationship. HPIL intends to deliver VHG’s “International Voice Roaming Service”, branded as Voyport, to companies and associations that HPIL has a relationship with. Voyport is the only international voice roaming solution designed exclusively for businesses. It combines the reporting and billing structure that financial departments of companies want with the features and ease of use that users demand. The service saves users up to 80% over traditional international roaming and calling plans. VGH is configuring a Service Package for HPIL that is at a discounted price when compared to its Standard Voyport Commercial Offering.
Mr. Allen Preece, Chairman and CEO of VGH, said, “We are excited to partner up with HPIL given their vision and strengths. We look forward to the opportunity to work in unison with HPIL to ensure the success of a number of joint sales/marketing initiatives.”
The Company is currently also negotiating with VGH in order to invest in and to collaborate with VGH in an international health services venture being developed by VGH targeted at the international business traveler.
HPIL HOLDING is also in negotiations to enter into an agreement with a Canadian company in the digital currency space and with an American company that has created a Mobile Shopper Marketing Tool that retailers can utilize to engage customers as they shop, driving sales and fostering brand and company loyalty.
The Company signed on November 9, 2016 a Securities Purchase Agreement with GPL Ventures of New York. Pursuant to the Securities Purchase Agreement, the Company, at its sole and exclusive option, may issue and sell to GPL, from time to time as provided therein, and GPL would purchase from the Company shares of the Company’s common stock (“Shares”) equal to a value of up to Five Million Six Hundred Thousand Dollars ($5,600,000). Pursuant to the Registration Agreement, the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and applicable state laws with respect to all Shares issued in connection with the Securities Purchase Agreement.
“GPL Ventures is excited to provide HPIL Holdings the working capital it needs to execute on its business model. This equity investment will give HPIL management the flexibility to fulfill its contracts and product orders without the need to take on any dilutive convertible note financing,” stated Alexander Dillon, Managing Partner of GPL Ventures. “We are truly excited to partner up with HPIL at this explosive stage in their business endeavors. GPL is invested in this project for the long haul, we look forward to working closely with Mr. Amersey as they begin to evangelize the market place and bring an increase in shareholder value.”
The Company is actively involved and focused on bringing these agreements to fruition and proceed to develop the underlying business.
Mr. Nitin Amersey, CFO and Director of HPIL HOLDING, said, “We will continue to issue progress updates on the aforementioned agreements and if/when negotiations on the others warrant.”
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.