DALLAS, TX–(Marketwired – Jun 30, 2016) – Cherubim Interests, Inc. ( OTC PINK : CHIT ) (“the Company”), an expansion-stage alternative construction and real estate development company, today announces a letter to shareholders concerning several corporate initiatives.
While developing our hybrid business model last October, we initiated a stimulus program intended to enhance net stockholders’ equity, and serve as a playbook to acquire and attract investment and equity into Cherubim Interests. Under this model, we have since acquired construction assets that added immediate revenue production, as well as traditional insurance restoration opportunities that are plentiful in our region. We had intended to get to this point much sooner, but had to be patient with regulatory regarding our recent corporate actions.
With regard to our previously announced (October 12, 2015) initiative and stimulus package, we are pleased to provide an update on our progress and ongoing quest for added corporate and shareholder value:
Cherubim Interests has used convertible preferred securities as currency to exchange its derivative liabilities that exist on the financial statements in the form of affiliate and non-affiliate debt. Since May 31, 2015 until present the Company has eliminated over $1,500,000 of affiliate and non-affiliate debt from the company’s books. Of that has also eliminated over 90% of its “Toxic” convertible debt.
We created a series of Anti-Dilutive, Convertible Preferred Shares to protect our majority stakeholders. This move insulates them from past, present, or future dilution in the open market by providing these anti-dilutive securities as a dividend payment.
We have successfully acquired revenue-producing assets Victura Roofing LLC and Cherubim Builders Group LLC (Oklahoma), which jumpstarted our roofing footprint in the DFW Metroplex and unlocked immediate expansion opportunity into the Oklahoma City Region.
We have subcontracted large-loss residential reconstruction projects totaling over $400,000 USD in revenues.
Real Estate Development (Raw Land & Multifamily)
We are currently prospecting for raw land to implement the grand opening of BudCube Cultivation Systems (BCS) cultivation centers and/or to construct or purchase undervalued multifamily assets.
We are also prospecting for acquisitions of assets via convertible preferred stock, which will give us the asset base required to apply for a senior exchange deemed appropriate at time of application.
Our go forward strategy is a simple one: continue to execute on the plan set forth last October.
I am pleased to address shareholders on the above-noted milestones, and want to reiterate our commitment to strengthening our stride and growing corporate equity.
IMPORTANT DISCLOSURE: Cherubim Interests, Inc. ( OTC : CHIT ) and BudCube Cultivation Systems USA is planning execution of its stated business objectives in accordance with current understanding of State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Marijuana (as outlined in the Justice Department’s Cole Memo dated August 29, 2013), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that the companies will obtain advice of counsel prior to actualizing any portion of their business plan. Advice of counsel with regard to specific activities of the companies, Federal, State or Local legal action or changes in Federal Government Policy and/or State and Local Laws may adversely affect business operations and shareholder value.
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
About Victura Roofing LLC.
Victura Roofing is led by industry professionals with a 20-year track record of success and a well-established platform for the expansion of market business opportunities in the Dallas/Ft. Worth Metroplex.