Emaji, Inc. (OTCMKTS:EMJI) Raises Capital To Initiate Acquisitions In Entertainment Industry
Emaji, Inc. (OTCMKTS:EMJI) has announced that it has successfully raised an estimated $0.25 million, in equity, to clear its path for pursuing acquisitions in the entertainment industry. The company noted that all of private placements of restricted stock had been priced at or higher than the market value. Moreover, the restricted stock is unavailable for resale, for at least 1-year, from the time of investment.
The CEO of Emaji, Christopher Petzel, stated that the funds would pave the way for completion of new acquisitions; an announcement on the matter would be made soon. He also stated that it was a matter of pride to have conducted this sale at or higher than the market value, to safeguard the interest of shareholders. It should be noted here that an application for name and symbol change, for the company, is pending with FINRA. Once approved, EMJI would be known as Broadside Enterprises Inc. Emaji hopes that it would receive an approval from FINRA, prior to its first acquisition.
Last week, EMJI announced that it had successfully completed a share buyback program. As such, it had successfully purchased over 411 million shares of its common stock, from a private investor. The investor had already withdrawn his shares from the float, in the open market. The company stated that the action reflected its commitment to improving shareholder value.
Mr. Petzel, commented on the action, stating it reflects an act of conservatism and would restore the confidence of shareholders in the company. Regarding the name change, the CEO stated that it is aimed at emphasizing the company’s commitment to profitable growth. In a press release, the company noted that the change would also be followed by a change in ticker symbol and web-domain. The board of directors had approved the name change, on August 31.
Emaji, Inc. (OTCMKTS:EMJI) did not record a change in its share value, during the September 28 trading session, despite having a trade volume of 4.01 million, to close at $0.0003 per share.© Copyright 2016 OTC News Magazine. All rights reserved.