INVESTORS
Frequently Asked
Questions
Issued on June 05 2008
Updated June 18 2008
Are you a Public
Company and can I buy some stock ?
-
Yes, Preachers Coffee Inc. shares have symbol of PRCF
for Common Shares and PRCFP
for Preferred Shares.
I
used to own hee corp. stock, what does that have to do with your company
?
Preachers
Coffee was established a few years ago and has been recently enjoying tremendous
good fortune and interest. In view of the demand from customers in the
USA and elsewhere around the world, the company decided that a prudent
move to expand the companies market and exposure was to become publicly
listed in the USA. After conducting thorough due dilligence, the company
was able to accomplish a reverse merger with another company that was no
longer trading. The old company was not of any relevance to Preachers Coffee
as we were advised that it was no longer a going concern. Preachers Coffee
was aware of the company name of "Hee Corporation" and that it was a defunct
herbal remedy company. Preachers Coffee has no ongoing contact or relationship
with any former officers of the former "Hee Corp." Preachers Coffee has
long term objectives to be a formidable participant in the International
Coffee Distribution business, and hope that the recent share performance
of Preachers has met with shareholders satisfaction, and hope that it will
exceed expectations. Preachers Coffee plans to keep all old and new shareholders
frequently updated with regular news as to new developments so that shareholders
can make informed decisions when trading company shares.
Briefly
: Preachers Coffee was previously a privately held company and decided
to expand its operation by going public. Our company was advised that it
could become publicly traded by reverse merging with a previously dormant
and inactive corporation.
Could you explain
this exchange of 101 shares for 1 share common and 1 share preferred?
-
Preachers Coffee Inc. paid a dividend of 1 preferred share for every 101:1
post split share to be received by our shareholders. In other words for
every 101 shares of the former dormant corporation common shares that a
shareholder held, that shareholder should have received 1 new share of
Preachers Coffee Inc. symbol PRCF, and 1 new preferred share symbol PRCFP
in place thereof. This resulted due to a reverse split and name change.
If you did not receive this exchange in your account, you should contact
your brokerage firm.
I
own a number of preferred shares because of the hee conversion...but can
not find any info on the preferred shares...are they dividend paying, do
they convert, etc etc ?
The
preferred at this time pay no dividend and we have not set any conversion
rate. If we do decide to pay preferred dividends or make conversion possible,
we will announce the terms in a press release.
What
is the latest news regarding your announcement about qualified accounting
firm, specializing in preparing financial statements suitable to meet the
Pink Sheets' qualification for the "current" status, and as a step towards
audited statements for future listing in a more transparent market ?
-
The last two years (complied according to
US GAAP) were slow getting through Pink Sheets red tape, but have now been
published online and available here.
What
is the latest news regarding your announcement about starting to distribute
the CUSIP and NASDAQ approved Dividends to Common Stock Shareholders ?
-
Our transfer agent is only giving out the dividend to those shareholders
that surrender their old common "Hee" shares for the new common
Preachers and preferred Preachers shares.
Are
you a new Company, selling over the internet only ?
We
are an established business and our markets were originally direct to supermarkets,
coffee shops, restaurants and distributors in the Philippines. We also
have many online inquiries from all over the world and have shipped overseas
to coffee connoisseurs. Recently we have exhibited at the Asian Tea &
Coffee Expo in Thailand in March 2008.
Can
I become a Preachers Coffee Distributor ?
-
Yes. We have many emails asking to become Distributors. Interested parties
should contact us directly.
I
want to start a Preachers Coffee shop, can you give me some information
on franchising ?
-
The company has just finalized the Circular Documents for a Preachers Coffee
Franchise and will be making these available soon. We will evaluate each
Application on a first come first served basis. We currently have ongoing
discussions with interested parties for the following regions ;