IRVINE, CA, United States, via ETELIGIS INC., 02/11/2015 – – Emaji, Inc. (OTC Pink: EMJI) (PINKSHEETS: EMJI), announced today that it is eliminating three classes of its $.00001 par value preferred stock as the company continues to clean up its balance sheet, strengthen its financial position and limit potential dilution to common stockholders.
Emaji is eliminating its Class C, D and E series of preferred stock, leaving only Class A and B Preferred Stock Designations in place. No stock had been issued in any of the classes being eliminated.
The decision to restructure the preferred stock is one of the steps being taken by the company as it continues to clean up its balance sheet as it prepares for the next stage in the development process. In addition to strengthening the company’s financial position, the elimination of the three classes of preferred stock will limit potential dilution for common stockholders.
Subsequent to the restructuring, Emaji will have 200,000,000 Preferred Shares authorized, with 24,000,000 Series A outstanding and 44,000,000 Series B outstanding.
Additional information about Emaji can be found in the Company’s reports and filings at http://www.OTCMarkets.com
Emaji, Inc. (OTC: EMJI), “Where Imagination Comes Alive,” is a publicly traded development stage company with three divisions: Emaji Ventures, which is developing Emaji’s revamped online toy portal company Netoy; Emaji Entertainment, which is developing entertainment programming; and Emaji Sports, which is developing its participatory collegiate and professional sports camps through Flashback Camps International, a financial and marketing support program for a wide variety of athletic enterprises, including youth athletic programs, and its Professional Sports Acquisition Group, which is currently exploring acquisition opportunities in minor league professional sports.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Contact: Emaji Public Relations
SOURCE: Emaji, Inc.