BEDFORD, TX / ACCESSWIRE / December 8, 2015 / Cherubim Interests, Inc. (OTC: CHIT) (“the Company”), an expansion-stage alternative construction and real estate development company, is pleased to announce its inaugural convertible preferred stock dividend for the shareholders of record as of December 31st, 2015.
“One of the critical ingredients to being successful when building equity is to be able to quickly adjust where needed to take advantage of markets conditions and opportunities,” says Patrick J. Johnson, CEO of Cherubim Interests. “This is why we’re issuing the Convertible Securities – it’s us seeing a need and moving swiftly to fill it.”
“Stockholders will receive one (1) Restricted Preferred share of Cherubim Interests, Inc. for every 100,000 shares held as of Record Date December 31st, 2015. The Company will also issue fractional shares to our investors as we realize that some may have purchased less than 100,000 shares during this period,” explains Johnson. The pay date for this dividend is January 29th, 2016.
“This announcement and impending issuance will help those that have seen the dilution in the open market affect their cost average,” says Johnson. “Issuing Anti-Dilutive Convertible Preferred Securities to stockholders as dividends also ensures that they will not be impacted by third-party debt conversions. The conversions of these securities are technically set at a price that the company could never trade or be quoted at which is .00001 par value, so these securities are not price sensitive, and they are also anti-dilutive.”
He further added, “We have decided to award all of our loyal shareholders with this additional stock because they have stuck with us through our transitional phases. Many of our shareholders have held this stock for several years. Now, along with newer shareholders, they will become beneficiaries of our anticipated growth.”
“The management would like to personally thank all of the shareholders of record of Cherubim Interests, Inc. for all of your support over the last few years. We are excited about the directions that we are headed and will continue to press on until we reach our goals and objectives,” says Johnson.
Declaration Date: 12/08/2015
Record Date: 12/31/2015
Payment Date: 1/29/2016
About Cherubim Interests Inc.
Cherubim Interests specializes in alternative construction projects, as well as covering the entire spectrum of real estate development: due diligence, acquisition, planning, construction, renovation, and management; providing complete beginning-to-end development programs for mixed use, single, and multifamily projects and properties.
For more information, visit www.cherubiminterests.com.
Safe Harbor Statement
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company’s ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company’s suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information, please contact:
Cherubim Interests, Inc.
Patrick J. Johnson
Chief Executive Officer
SOURCE: Cherubim Interests, Inc.