Sunstock, Inc. - Successful Initial Round of Capital Raising
August 15 2017 - 9:00AM
Marketwired
Sunstock, Inc. - Successful Initial Round of Capital Raising
SACRAMENTO, CA-(Marketwired - Aug 15, 2017) - 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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