Sunstock, Inc. - Successful Initial Round of Capital Raising
(firmenpresse) - SACRAMENTO, CA -- (Marketwired) -- 08/15/17 -- Sunstock, Inc. (the "Company" or "Sunstock") (OTCBB: SSOK) successfully concluded its initial round of capital raising totaling $227,250.
Sunstock''s business strategy combines income producing real estate properties with investments in precious metals. The management team with over 20 years of hospitality industry experience has identified a distinct need for clean, safe and affordable rehabilitation housing facilities. The No-Frills Rehabilitation Housing Division of Sunstock is implementing a strategy of bringing no-frills rehabilitation housing facilities to the California market and intends to expand nationally.
Sunstock will use this new capital to execute its business strategy of converting a hotel to a no-frills rehabilitation housing facility. Sunstock plans to enter into a contract to purchase its first hotel within 30 days. After purchasing the hotel, Sunstock plans to convert it to a no-frills rehabilitation housing facility providing clean, safe rooms. Transportation services will be provided to clients enrolled in a substance abuse treatment program. The hotel will be converted in phases to a no-frills rehabilitation housing facility as client occupancy increases. It is estimated to take fifteen months to complete this conversion from a hotel to a rehabilitation housing facility. During this conversion, the building design configuration will allow Sunstock to simultaneously operate as both a hotel and no-frills rehabilitation housing facility.
Sunstock forecasts that the no-frills rehabilitation housing facility will generate over $10,000,000 in gross revenue in the first 12 months of operation and over $20,000,000 in gross revenue in the second 12 months, and thereafter. Also, Sunstock forecasts that the current hotel guest occupancy will generate $400,000 in gross revenue in the first 12 months of operations as it converts 100% to a rehabilitation housing facility.
Sunstock believes that these revenue predictions are sustainable for this pilot project. Management envisions bringing additional no-frills rehabilitation housing facilities to the California market and eventually expanding nationwide.
Safe Harbor Statement
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management''s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones. For a more complete description of these and other risk factors that may affect the future performance of Sunstock, Inc., see "Risk Factors" in the filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Contact:
Tom Nelson
Ten Associates LLC
(480) 326-8577
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Datum: 15.08.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 1517602
Anzahl Zeichen: 2195
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SACRAMENTO, CA
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Venture Capital
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