Sharing
Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc.,
today announced execution of a mutually satisfactory settlement agreement with
212 Technologies, LLC concerning related disputes arising out of a series of
commercial agreements previously executed between the parties. Under the
comprehensive “Release And Settlement Agreement,” SHRG and 212 have resolved
all matters of concern. According to the update, the resolution includes
rescission of a May 25, 2017, “Stakeholder & Investment Agreement,”
resulting in the surrender by 212 of SHRG Stock to SHRG. The agreement also
documents termination of the “Software License Agreement” dated June 12, 2018,
entered into by and between Elepreneurs, LLC, a wholly owned subsidiary of SHRG
and 212, which will result in the discontinued use of the 212 mobile
application by Elepreneurs.
In addition, Sharing Services announced revenues of $35.4
million for its fiscal first quarter ended July 31, 2019, more than double
revenues of the comparable quarter of 2018, as well as cumulative sales
revenues of over $129 million since the December 2017 launch of products
through its Elepreneurs, LLC and Elevacity Global, LLC subsidiaries, setting
yet another record for SHRG. “Product sales for our incredible health and
wellness products of Elevacity Global were strong from the beginning and have
since dramatically and consistently increased,” SHRG CEO John “JT” Thatch said
in the news release. “Our Q1 revenues demonstrate that our ‘Blue Ocean
Strategy’ has taken root and continues to grow in the direct selling
marketplace. We attribute this success to our incredible staff and highly
talented independent distributors, which we call ‘Elepreneurs.’”
About Sharing Services Global Corporation
Sharing Services Global Corporation, formerly Sharing
Services Inc., is a diversified holding company that is publicly traded and
dedicated to the enhancement of shareholder value through the acquisition and
development of innovative companies, products and technologies, having a
primary revenue model driven by a direct selling platform. The Sharing Services
combined family of ventures leverages the capabilities and expertise of various
companies that market and sell products direct to the consumer through independent
and autonomous distributors. Two of its primary divisions include Elevacity
Holdings, LLC (a product sourcing and supply company) and Elepreneurs Holdings,
LLC (a sales and marketing company based on utilization of independent
contractors, doing business as “Elepreneurs.”[SM]). For more information, visit
the company’s websites at www.SHRGInc.com, www.Elevacity.com or www.Elepreneur.com.
NOTE TO INVESTORS: The latest news and updates
relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is committed
to connecting subscribers with companies that have huge potential to succeed in
the short and long-term future. It is part of our mission statement to help the
investment community discover emerging companies that offer excellent growth
potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment