New Chairman and a Corporate Spin Off.
DALLAS, TX – April 15th, 2015, – SutimCo Inc. (OTC PK:
SUTI) ("The Company")
Today, the new CEO and Management of the
company announce the addition of Mr.Scott Weinert to the Board of
Directors and the new Chairman of the Board.
Mr. Weinert is a very successful entrepreneur and business man.
Mr.Weinert speaks fluent Mandarin and is very well known and
respected in retail and wholesale markets in China and Hong Kong.
His thirty plus years in import/export businesses has given him
contacts and relationships that allowed him to bring multitude of
products and services both to the U.S and China. The management
believes that Mr.Weinert’s experience and
expertise will enhance and increase the company’s position in the
global markets.
The company is also proud to announce the “spin off” into
“private” sector one of the core businesses in SUTI,
“Sutimco International Inc.”The Sutimco International Inc.,will be
operating on its own, as the new “private” company, while the
Holding “public” company SUTI Inc, will continue trading on the
public markets and pursue the development and focus of its wholly
owned subsidiary; “Luxuriant Holdings Inc.” Sutimco International
Inc., will retain its current assets as well as retaining with the
spin off most of its previously incurred liabilities.”
This change will not affect the current
public trading and/or regulatory compliance. The
company intends to file with FINRA for the new name change and a
new cusip number immediately.
“I’m extremely excited to see the spin off go
through. As the company’s CFO I’m happy to see that the
liabilities, which are over three million dollars (approx. $ 3.5
plus million), that were incurred prior to our acquisition of the
company will stay with the “spin off” company. Starting Q1 2015,
this reduction in liabilities will allow our company to grow
without such financial burden. I believe that a much “healthier”
balance sheet and financials can help us to attract new investors
and candidates for merger and acquisitions.” Stated Mr.
Tassan, CFO SUTI INC.
Recently, the new CEO Mr. Jarrod Turner and the management, have
taken positive steps to improve the market
capitalization and improve shareholders value by decreasing the
company’s issued and outstanding (OS) by 500,000,000 shares (Five
Hundred Million shares). The management is focused on the business
development of the current business plan and expansion into
an ever growing Marijuana/Cannabis and Related Business
Markets.
Thank you,
The Management, Sutimco Inc.
……Some of the best recent Quotes:
“In strict medical terms marijuana is far safer than many foods
we commonly consume. For example, eating 10 raw potatoes can result
in a toxic response. By comparison, it is physically impossible to
eat enough marijuana to induce death. Marijuana in its natural form
is one of the safest therapeutically active substances known to
man. By any measure of rational analysis marijuana can be safely
used within the supervised routine of medical care.
[DEA Administrative Law Judge - 1988]”
? Francis Young
"When I was a kid I inhaled frequently. That was the point."
- Barack Obama, U.S. President quote on Marijuana
"I enjoy smoking cannabis and see no harm in it".
- Jennifer Aniston quote on Marijuana
"At the end of 2014, 15,992 people were licensed to work in the
marijuana industry in Colorado alone, an increase of 143% over the
previous year."
"A recent report from The ArcView Group, a cannabis research and
investment firm, dubbed legal marijuana the fastest-growing
industry in the U.S. and valued it at $2.4 billion in 2014 - the
year legal, recreational marijuana sales first started in
Colorado. ArcView is expecting the industry to grow by
another 32% this year."
“I think people need to be educated to the fact that marijuana
is not a drug. Marijuana is a flower. God put it here…” – Willie
Nelson
"'2014 was the year where the cannabis industry went from being
an interesting casual conversation to something any
serious business person has given a fleeting thought,' said Troy
Dayton, cofounder of The ArcView Group."
"Unlike other new industries, the demand for cannabis and
related products already exists, driving the sector's rapid
growth. The industry grew from $1.5 billion in 2013 to $2.7
billion in 2014 - a 74% increase in one year, according to The
ArcView Group's latest market analysis report."
“Federal and state laws (should) be changed to no longer make it
a crime to possess marijuana for private use.”
? Richard M. Nixon
About Sutimco Inc.
Sutimco Inc., is a development corporation with a focus and
design to enter a new and
emerging
Medicinal and Recreational use Marijuana and Cannabis market
sectors. The company is developing relationships and contracts with
product and service providers that cover all aspects of this new
and emerging market sector.
Forward-Looking Statements: The information posted in this
release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. You can
identify these statements by use of the words "may," "will,"
"should," "plans," "expects," "anticipates," "continue,"
"estimate," "project," "intend," and similar expressions.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected or anticipated. These risks and uncertainties include,
but are not limited to, general economic and business conditions,
effects of continued geopolitical unrest and regional conflicts,
competition, changes in technology and methods of marketing, delays
in completing various engineering and manufacturing programs,
changes in customer order patterns, changes in product mix,
continued success in technological advances and delivering
technological innovations, shortages in components, production
delays due to performance quality issues with outsourced
components, and various other factors beyond the Company's
control.
This release includes “forward-looking statements” within the
meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Certain statements set forth in
this press release constitute "forward-looking statements.”
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate, or imply future
results, performance or achievements, and
may contain the words "estimate", "project", "intend",
"forecast", "anticipate", "plan", "planning", "expect", "believe",
"will likely", "should", "could", "would", "may" or words or
expressions of similar meaning. Such statements are not guarantees
of future performance and are subject to risks and uncertainties
that could cause the company's actual results and financial
position to differ materially from those included within the
forward-looking statements. Forward-looking statements involve
risks and uncertainties, including those relating to the Company's
ability to grow its business. Actual results may differ materially
from the results predicted and reported results should not be
considered as an indication of future performance. The potential
risks and uncertainties include, among others, the Company's
limited operating history, the limited financial resources, and
domestic or global economic conditions -- activities of competitors
and the presence of new or additional competition and conditions of
equity markets.
Contact: stassan@sutimcointernational.com