Welcome!

News Feed Item

Green Cures Inc., and Triton Distribution Systems, Inc., Announce Upcoming Company Name Change and the Cancellation of 300 Million Common Shares and Provide Corporate Update

WINNETKA, Calif., March 29, 2014 /PRNewswire/ -- Management of Green Cures Inc. ("Green Cures") and Triton Distribution Systems, Inc. (OTC Pink: TTDZ) ("Triton") announced today that following the closing of the acquisition transaction by Green Cures for controlling interest in Triton, Green Cures is proceeding with restructuring of Triton Company with intent to focus on obtaining a name and ticker symbol change; the cancellation of approximately 300 million common shares owned by Green Cures Inc.; and beginning the process of acquiring assets (including intellectual property and products) into the Company.

Management of Green Cures believes a new name and trading symbol for the Company will help the market to identify the business focus of the Company following the restructuring and reorganization. The name of the Company is to be legally changed to "Green Cures and Botanical Distribution, Inc."  Triton's new management and Green Cures interim CEO Julio Cubillas, together with their legal counsel, will take the necessary and required steps to effect the name change, which will include required filings with FINRA and the State of Colorado. Management anticipates name change processing time to take approximately 15 days and expects the Company to receive the new ticker trading symbol associated with the name change at the same time. Management will make additional announcements relating to progress of name change and symbol information as it becomes available.

Triton and Green Cures also announced that Triton plans to acquire certain assets, including rights to domain names, certain trademarks with pending registrations and intellectual property, and certain existing products, which will be used in Triton's business.  The assets to be acquired include AllBotanical.com, AllCannabis.com, FutureMarijuana.com, CBDoil.us, and CBDcolorado.com, as well as exclusive licensing rights to all Green Magic and Green Cures products from Green Cures Inc., in order to enable the Company to move quickly with business operations following the restructuring plan completion. Management believes that acquiring these assets will enable the Company to begin commercial operations and implement its business plan, while offering initial products, allowing the Company to move forward more quickly in this fast-paced industry.

As announced previously in connection with the acquisition transaction, Green Cures Inc. has agreed to the cancellation of 300 million outstanding shares of the Company's common stock which were acquired by Green Cures in connection with the acquisition transaction. Green Cures will work with Triton's management and transfer agent to finalize the cancellation of the 300 million common shares as quickly as possible.

In connection with the restructuring, Triton's Transfer Agent has provided records of Triton's share structure, to Triton's and Green Cures Management and their professional advisors. According to the information provided by the Transfer Agent, the number of shares currently issued and outstanding (prior to cancellation of the 300 Million shares) is 1,933,695,597 shares of common stock, which is higher than what had previously been disclosed in Triton's public reports and to Green Cures.

In response to this higher outstanding share number, and in an effort to maintain complete transparency, Green Cures management and Triton are informing the investment community that it does not plan to conduct a reverse stock split as part of the Company's restructuring.

Instead, Triton and Green Cures management have decided to increase the number of Triton's authorized shares by 500 million, for a total of 2,500,000,00 authorized shares. Management believes it is crucial to have, in reserve, a minimum of 740 million shares (following an increase in the authorized capital and the cancellation of the 300 million shares) in order to provide the Company flexibility for future potential capital raising transactions that may be needed for the Company's upcoming projects.

For example, Green Cures Inc. has recently submitted trademark applications for the trademark "CBD Centers," under Class Codes 035  (online retail store and retail store services) and 044 (alternative medicine services) with the United States Patent and Trademark Office. It is important to note that the trademarks for "CBD Centers," and rights pertaining to the project and future operations, will be transferred to Triton by Green Cures.

Additionally, Triton's management anticipates that the website Allbotanical.com will initially feature a total of 10 products, ready-to-ship, from the Green Magic line, along with additional products from other distributors. The Company intends to offer Green Magic Products to the public with an active Liability, and Packagers Protection Policy; therefore, the launching of Allbotanical.com is rescheduled for an expected date of April 14, 2014.

The Company is also providing an update on the previously announced distribution of the shares of common stock of another publicly traded company, Privileged World Travel Club, Inc., to Stockholders of the Company. Management is working to determine the best time and methods to make such a distribution, while balancing factors involved, including the costs and time required for undertaking such a distribution transaction, the performance of Privileged World Travel Club in the market and more. The Management would like to provide an expression of gratitude for the support of Triton Distribution Systems, Inc. Stockholders and will continue to provide updated information relating to the distribution of these shares in the near future.

Finally, in closing, the Company would like to inform the Company's Stockholders that all Executives and Officers who will work with the Company for the development of business operations within the medical cannabis and botanical industry are expected to assume positions on or before April 1, 2014; with public announcements to advise of Executives and Officers of the Team anticipated on, or before, April 2, 2014.

About Green Cures Inc.: www.greencuresinc.com
Green Cures Inc. operates a diverse portfolio of services and products within the medical marijuana and botanical industry, as permitted by law. In this rapidly growing industry of alternative care products, from production, distribution and management, Green Cures Inc. also provides online community portals that supply the public with information and resources regarding the benefits of cannabis-derived products.

FDA Statement
The statements contained in this document have not been evaluated or approved by the FDA. The products and statements referenced in this document are not intended to diagnose, treat, cure, or prevent any disease.

Forward-looking statement
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements are identified by wording such as "scheduled (future sense)" "intend(s)", "plan(s)" "expect(s)", "believe(s)" "will" "estimate(s)", "forecast", "anticipate(s)", "expect(s)", "may", "should", "goal", "target", "aim", "may", "would", "could" or "should" or, in each case, the negative thereof, other variations thereon, comparable terminology or wording/graphical information that implies anticipated future results or deliverables.  Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, progress of products development, acceptance of products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, and intellectual property rights.  You are cautioned not to place any undue reliance on any forward-looking statement, and Triton expressly disclaims any obligation or intention to update any forward-looking statement.

SOURCE Triton Distribution Systems, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
"Cloud computing is certainly changing how people consume storage, how they use it, and what they use it for. It's also making people rethink how they architect their environment," stated Brad Winett, Senior Technologist for DDN Storage, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, will discuss th...
“Why didn’t testing catch this” must become “How did this make it to testing?” Traditional quality teams are the crutch and excuse keeping organizations from making the necessary investment in people, process, and technology to accelerate test automation. Just like societies that did not build waterways because the labor to keep carrying the water was so cheap, we have created disincentives to automate. In her session at @DevOpsSummit at 20th Cloud Expo, Anne Hungate, President of Daring System...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...