MIDLAND, Mich., May 17, 2019 (GLOBE NEWSWIRE) -- HPIL Holding (the "Company") (OTC PINK: HPIL) is pleased to issue a comprehensive shareholder update addressing the status of the company and its subsidiaries.
The Company and the Company’s wholly owned subsidiaries MyFly WiFi Inc., RodDoc Inc., Crypto Currency Engine Inc., Karate Games Company Inc., Global Live Streaming Inc., HPIL Real Estate LLC. have been incorporated in Wyoming. HPIL Holding and nuUnlimited Ltd. UK jointly owned subsidiary nuUnlimited North America Inc. has also been incorporated in Wyoming. A relevant 8K was filed on March 15, 2019.
The Company has signed a Letter of Intent to purchase property located at 278 E Saginaw Rd, Sanford, MI 48657. A relevant 8K was filed on April 17, 2019.
MyFly WiFi Inc. is a Proximity Marketing Company. Proximity Marketing, also referred to as Location Aware Advertising (LAA), enables mobile users to receive an advertising message or other customizable content based on their location. LAA allows advertisers to deliver highly customized promotions, coupons and offers to a highly primed individual, specifically taking into account their geographical location, as well as the time of day and other variables. Also, LAA lets advertisers reach their customers when they are primed to make a purchase. MyFly WiFi is finalizing negotiations to market and license our technology in India and use an Indian supplier for some of our back office functions. We are also working with nuUnlimited Limited in the UK to license our technology to them for their UK market. “We recognized the potential for smart locations some time ago and are excited to be able to bring a complete solution together with MyFlyWifi over the coming months,” states Tim Sandford, CEO of nuUnlimited. The project integration work will be carried out in conjunction at nuUnlimited’s development hub in Scotland and at MyFlyWiFi’s offices in Boca Raton, Florida, USA before the first product is launched in the final quarter of the year globally.
nuUnlimited North America Inc. (NUNA) We are in the process of engaging and bringing on the HPIL team a seasoned manager from a major telecom company to be the President of NUNA. Our initial concentration is selling to Cannabis companies that need to track the provenance of the cannabis from plant to consumer. A white paper on Cannabis is available at http://hpilholding.com/download/Cannabispaper[1127].pdf. Many Michigan Cannabis companies are locating in the Pinconning Michigan area which is very close to our offices and assisting us in our development and marketing efforts in the Cannabis field.
RodDoc Inc. builds “spiral banding machines” that resurface worn underground drilling rods saving companies thousands in unnecessary expenses. On February 21, 2019 the U.S. Patent and Trademark Office published U.S. Patent Application No. 2019-0056045-A10 ("Spiral Banding"). The claims of the newly issued patent application are generally directed towards methods of spiral rod banding and identification, including performance of actions following therefrom. The Application generally permits patentees to be eligible for a reasonable royalty for infringement occurring between the publication date and the date the patent is granted. A relevant 8K was filed on March 12, 2019.
RodDoc has been doing business and marketing to horizontal directional drilling (HDD) companies in Southern New Jersey. RodDoc’s product and services have been well received and expansion plans are in place. As proprietary machines are built and deployed, we expect the high value-added proposition to rapidly grow the business. The market for HDD has significantly increased in recent years.
In addition to US domestic deployment, HPIL Holding has initiated discussions with parties in other countries to license and install the RodDoc patent pending process and “Spiral Banding Machine”. The initial target markets include Canada and Europe.
Mr. Christopher Philbrick, President of RodDoc, said, “We are working closely with industry experts to develop testing methods to minimize risk of failure while drilling. We are seeking to make NDT (non destructive testing) reporting standard prior to initiating marketing and growing and expanding our geographic market. This will eliminate a significant hurdle in our business and give customers the peace of mind that they need.”
Karate Games Company Inc. Mr. Ionel Bara, President and Founder of WTOKF (the World Traditional Okinawa Karate Federation), said: "We are consulting with the HPIL development team to define the parameters for the games. We have decided with HPIL to include many of our activities for authentic content. The 2020 Olympics will debut Karate for the first time“. Ray Wong, COO of HPIL commented:“We look forward to helping the WTOKF to expose the ancient sport of karate to a new audience using modern technology."
Global Live Streaming Inc. Mr. Ionel Bara President and Founder of WTOKF said: "We look forward to monetizing our vast library of Karate videos and future events. We will provide HPIL with everything that is needed to make these karate games work . We are confident that it will be a real success, and beneficial to our membership.”
HPIL Real Estate LLC. As previously announced HPIL has signed a Letter of Intent to purchase property located at 278 E Saginaw Rd, Sanford, MI 48657. A relevant 8K was filed on April 17, 2019. Mr. Nitin Amersey, Chairman and CEO of HPIL, said, “This property will serve as HPIL Holdings corporate headquarters, main offices of our nuUnlimited North America Inc. Joint Venture and as the primary refurbishment center for our wholly owned RodDoc subsidiary.”
Mr. Amersey, stated, “This action of incorporating our businesses in Wyoming provides us with considerable savings annually in state registration expenditures. The Company’s trading symbol on the OTC will remain unchanged as ‘HPIL.’" Mr. Amersey, also noted, “Our management team is working diligently and effectively to realize our goals. We have many positives at play and intend to keep our shareholders informed as we progress forward. We are actively looking to expand our management team for our various businesses at this time. Our newly appointed CFO Mr. David Langle is working diligently to get us current in our reporting to the SEC.”
HPIL Holding (http://hpilholding.com) is a diversified holding company listed on OTC Markets. HPIL Holding is focused on investing in both private and public companies in differing business sectors. HPIL Holding does not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, acquires various types of businesses. HPIL Holding also evaluates the acquisition of intellectual properties and technologies.
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 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.
