Yahoo Finance HIMALAYA PROVIDES SHAREHOLDER UPDATE ON GROWTH PORTFOLIO; SIGNS CO-PACK AGREEMENT FOR FOMO CAN
Chicago, IL, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Himalaya Technologies, Inc. (OTC: HMLA) is providing a shareholder update on its operating activities, minority investments, and growth plans. The Company was brought SEC current in April 2022 after several Form 10 amendments passed regulatory review and is now PCAOB fully audited.
Kanab.Club (100% owned) – The website (https://www.kanab.club/) continues to operate with 99.999% reliability. Traffic is slowly building while we add functionality, including plans for e-commerce, online dating, games, and cannabis stock chat. Multiple states are about to legalize cannabis for recreational use while the federal government makes progress on approving financial services for the sector, potentially significantly expanding the site’s opportunity for growth. Near-term budget: $100,000 for programming; marketing TBD.
GenBio, Inc. (19.9% owned by HMLA, part-owned by FOMO CORP.) – This biotech business is moving ahead on development of proprietary formulae and extracts to combat inflammation, high blood pressure, and other ailments. Budget for 6-12 months operations and R&D $500,000 including $50,000 for FOMO CAN liquid formulation (below). For further information on GenBio, Inc. see their recent shareholder letter at https://www.einpresswire.com/article/583827462/genbio-s-natural-extract-research-breakthrough-promises-new-modalities-to-fight-diseases.
The Agrarian Group, LLC (19.9% owned) – This AgTech software business is making inroads into numerous client opportunities, including The Walt Disney Company, the Philadelphia Zoo, and others. Food supply is now a major concern, with inflation exacerbating consumer fears of their ability to obtain product at prices they can afford. For further information on TAG see their recent newsletter a https://www.greenandsave.com/index.php/green_news/green-science-and-technology/agrarian-group-q2-newsletter. 12-month funding budget $2,000,000 - $3,000,000.
Co-Pack Agreement for FOMO CAN – We recently signed a preliminary agreement with Sprecher Brewing Co. (https://sprecherbrewery.com/), a long heralded provider of alcoholic and non-alcoholic beverages in 32 states to manufacture, bottle and distribute our planned FOMO CAN aimed at providing consumers a beverage that fights inflammation, high blood pressure and other ailments. GenBio scientists believe the GenBio technology (above) aids in fighting COVID and other respiratory pathogens, whether or not customers are infected. Budget for an initial 500 case run with the beverage manufacturer is $20,000, not including $50,000 for the required GenBio formulation.
Vik Grover CEO commented: “As you can see from the above summaries, there is tremendous opportunity at Himalaya. It took us almost one year to bring the previously seven-year delinquent entity SEC current. Yet all the while we took a long game approach and setup M&A, investments and partnerships to drive the Company to success. The volatile markets of 2022 have not helped our cause, but our investments are immune to the global malaise and any potential recession. Our portfolio is uniquely positioned as a health and wellness incubator targeting significant growth under any market scenario. For example, the cannabis market is exploding in the USA setting up Kanab.Club to become a destination site for the sector. COVID and other pathogens are not going away, setting up a global opportunity for GenBio’s technology that ultimately positions the Company to be acquired. The food droughts in inner cities and supply chain disruptions in the agriculture market magnify the need for local and micro-grow facilities to augment the world’s food supply. And finally, I believe there is substantial pent-up demand for a healthy non-caffeinated beverage that has potential anti-inflammatory and blood pressure benefits. We’ve been quiet since getting the vehicle current, but that’s not because of lack of momentum, it’s simply because we are in the first inning of a multi-year project.”
About Himalaya Technologies, Inc.
Himalaya Technologies, Inc. is a publicly traded company focused on business incubation and acceleration in the health and wellness field. The Company invests in and advises emerging companies aligned with a growth mandate. Himalaya is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.
Forward Looking Statements:
Statements in this press release about our future expectations, including without limitation, the likelihood that Himalaya Technologies, Inc. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to Himalaya’s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. Himalaya’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. Additionally, although the Company has announced letters of intent to acquire additional companies, there is absolutely no assurances that any such transactions will result in a completed acquisition. No information in this press release should be construed in any form, shape, or manner as an indication of the Company’s future revenues, financial condition, or stock price.
Contact:
Investor Relations
(630) 708-0750
ir@himalayatechnologies.com
