EXPERIENCE ART AND DESIGN, INC. ANNOUNCES CHANGES TO HOW IT WILL ACQUIRE DRY CLEANING OPERATIONS :wacko: (*All CAPS TITLE ALWAYS IS A RED FLAG FOR ME*)
Date: May 26, 2016
EXPERIENCE ART AND DESIGN, INC. ANNOUNCES CHANGES TO HOW IT WILL ACQUIRE DRY CLEANING OPERATIONS
Las Vegas, NV — May 26, 2016 — InvestorsHub NewsWire — Experience Art & Design, Inc. (OTC: EXAD) has been negotiating to purchase several dry cleaning operations for cash and promissory notes. The Company has shifted away from cash and promissory note to minimal cash paid at closing and redeemable Preferred stock.
Metropolitan will use a minimal cash down payment and issue redeemable Preferred stock for each operation it buys. This reduces the cash constraints on the Company or the need to consistently raise large amounts of cash or add debt to the books.
The redeemable Preferred will be issued with a pre-stated value and the Company will purchase the shares back from the Seller upon the agreed to terms and conditions.
The dry cleaning industry is a $9B market segment employing approximately 148,000 people in the United States. While there are over 36,683 companies operating in the industry, less than 10 companies have a national presence. According to Hoover’s: the 50 largest firms generate less than 10 percent of revenue.
About Metropolitan Dry Cleaners:
Metropolitan Dry Cleaners is a rollup of existing enterprises with a multiyear history of revenues and profits in a variety of primarily East Coast States. Metropolitan Dry Cleaners mission is to provide quality dry cleaning and laundering services at every facility it acquires. The company will provide dry cleaning, laundry, and garment alterations, as offered by the existing target businesses along with regular home pickup and delivery services. Metropolitan intends to increase its market share through a combination of organic and strategic growth. A link to Metropolitan’s market summary may be found at the following URL: http://tinyurl.com/zcuwtj9
Metropolitan Dry Cleaners has rolled out its new Facebook page. Investors are invited to visit the site at the following URL: http://tinyurl.com/znfwmt2
Experience Art & Design, Inc., in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg FD.
For additional information about this release please contact:
Metropolitan Dry Cleaners () is a roll‐up of existing enterprises with a multi‐year history of revenues and profits in a variety of primarily East Coast States. These enterprises have been listed for sale by their owners and often come with existing staff and inventory.
This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of dry cleaning services and equipment markets, release of corporate apps, global dry cleaning services and equipment markets, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Details of the Company’s business, finances, appointments and agreements can be found as part of the Company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s EDGAR database.