LAS VEGAS--(BUSINESS WIRE)--Publicly held Megola, Inc. (OTC Pink: MGON) is providing stockholders with an update regarding the status of the corporation and its current strategic objectives. Megola, Inc is subject to a court-appointed custodianship in the state of Nevada. The custodian, International Venture Society, reinstated the corporation’s charter with the Nevada Secretary of State on May 9, 2017.
TheShare TV, LLC, a wholly owned subsidiary of MC Endeavors, Inc. (OTC Pink: MSMY), is pleased to announce that it has executed a term sheet as part of a reverse takeover or “RTO” transaction. Subject to regulatory approval and the fulfillment of contractual obligations, the merged company will be named “TheShare TV, Inc.” Upon successful completion of the transaction, TheShare TV, LLC Chief Executive Officer, John Stippick, will be appointed CEO and also be named the Director of the combined company.
International Venture Society’s CEO Kelani Long stated, “We will continue to work to discharge the duties of the court-appointed custodian in an expeditious manner, which includes the holding of a meeting of stockholders.” She continued, “In addition, "I am very excited about the plans discussed with TheShare TV thus far, and have confidence the RTO could provide some thrilling possibilities in terms of shareholder value. The team at MC Endeavors, Inc. have successfully demonstrated that they can bring a once dormant publicly company back to life, add shareholder value and execute on a vision for long-term success. We firmly believe in the vision of John Stippick, CEO.”
While not an obligation of the court-appointed custodian, TheShare TV will also seek to become current with its reporting obligations to OTC Markets and the SEC. TheShare TV will also seek to petition FINRA for a name and symbol change. The company plans to keep shareholders updated as material company events take place.
About TheShare TV, LLC
TheShare TV, LLC is a wholly owned subsidiary of MC Endeavors, Inc., and is the first and only network channel for addiction treatment and recovery lifestyles. The network is developing, producing, and distributing original addiction treatment and sober lifestyle television programming to a worldwide audience. The original programming promotes long term recovery, inspiration, and awareness through education, support, music and entertainment. For more information, please visit https://twitter.com/TheShareTV.
About MC Endeavors, Inc.
MC Endeavors, Inc. (OTC Pink: MSMY), an innovator in social commerce platforms, is committed to becoming a leading global social commerce company that utilizes a single core platform, Room 21™, to produce, distribute, and monetize online communities for individuals and businesses that interact with industries ranging from industrial business to healthcare to entertainment.
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although MC Endeavors Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, MC Endeavors Inc is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.