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HUTN Announces Terms of its First Special Dividend

By GlobeNewswire,  November 08, 2018, 11:30:00 AM EDT


FAVR Coin Payable to Shareholders of Record as of November 22

Hutton PR Nov. 8




SPRINGFIELD, Ohio, Nov. 08, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- HUTN Inc. (OTC:HUTN) today declared a special digital asset dividend in the form of a coin (symbol FAVR), based on intellectual property developed by EF Hutton, Inc..  Shareholders are entitled to receive 1/2 of one FAVR coin for each HUTN common share they own.  No fractional FAVR coins will be issued.  The dividend is payable on December 12, 2018 to shareholders of record as of November 22, 2018.  

Like all coins, the value is a function of its use case.  This coin unlocks value by improving efficiency of this already existing informal currency that in 2015 generated about $410 billion of global economic activity, based on our internal estimate using data from the 2018 IMF Report on the informal economy.  Assuming the coin is widely adopted as a substitute for the current informal currency, and given its limited minting, HUTN management expects the coin to be valuable.  The white paper and other information is available at www.favr.io and also at www.favorpower.com.    

Only 40 million FAVR will ever be minted using the ERC721 protocol on the Ethereum platform.  Of the 40 million total mint, about 35 million FAVR will be distributed by HUTN to holders of common stock as a dividend and the rest will be retained by HUTN. FAVR is expected to trade on an exchange when it is distributed to shareholders on December 12, 2018.  Exchange information if any, will be announced when available.  HUTN does not represent or warrant that any market will develop after the dividend is received by shareholders.

Christopher Daniels, CEO of HUTN noted, "This special dividend represents the first of its kind that we are planning to distribute to our shareholders consisting of digital assets such as coins and tokens designed to benefit our shareholders.  We appreciate the support of our shareholders as we continue to execute our business plan."

The total mint of 40 million currently represents about 5 coins per 1,000 people in the world.  Management is of the opinion that the limited quantity ensures that this coin will be valuable and, thereby, impactful for its intended use. 

Favors are a form of personal currency - a kind of social capital. It is universally recognized worldwide - every society, culture and country has an informal economy that includes favors. The description of the digital asset known as the White Paper is published on www.favorpower.com

About HUTN Inc.

HUTN, Inc. is a FinTech company whose subsidiaries provide branded services to consumers ("B2C").  Our operating subsidiaries provide the following services and products: Megga Inc. subsidiary provides a social internet platform that pays users MeggaCoin, a token that can be redeemed for cash - meggalife.com is a new model. The platform includes- social networks, e-mail, internet search, news and more.  EF Hutton Inc. provides online investing services and specialty products involving digital assets under the legendary financial services brand, EF Hutton - see efhutton.com.  Vyral Media is a subsidiary that publishes digital content to enhance user experience and engagement. Vibrant Mobility is a subsidiary that provides mobile data & communications services.

Cautionary Statement Concerning Forward-Looking Statements

Statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding the proposed offering of securities and the anticipated use of proceeds therefrom. These forward-looking statements are made only as of the date of this report and are based on HUTN's current intent, beliefs, plans and expectations. They involve risks and uncertainties that could cause actual future results, performance or developments to differ materially from those described in or implied by such forward-looking statements. These risks and uncertainties include the risks identified from time to time in HUTN's most recent OTC Market reports, press releases and other communications. HUTN undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, other than as required by law.

Contact   Investor Relations
Company   EF Hutton
Phone   (937) 323-2000
Email   info@efhutton.com 

 

Source: HUTN, Inc.

This article appears in: News Headlines

Referenced Stocks: HUTN








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