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LAS VEGAS - Star Alliance International Corp. (OTC:STAL) announced today it has completed the sale of its assets to NoHo, Inc. (OTC:DRNK) in exchange for shares of DRNK’s publicly traded stock. DRNK shares have shown remarkable momentum, posting a 300% gain over the past six months with average daily trading volume of 52.01M shares.
Following the completion of DRNK’s audits and the effectiveness of its registration statement, STAR shareholders will receive a dividend distribution of DRNK shares. The transaction also triggers a change of control at DRNK, with Anthony Anish, STAR’s CEO, assuming the same role at DRNK.
According to the company’s press release, the decision comes after STAR encountered several regulatory and financial challenges in 2024, including the rejection of its 2023 and 2024 audits by the SEC following the suspension of its former auditor, and its reclassification from OTC Pink to the expert market due to delayed filings.
"We weighed this decision carefully and ultimately determined that transitioning assets to a publicly trading vehicle was the best course for our shareholders," said Anthony Anish, CEO of Star Alliance International.
Richard Carey, Chairman of Star Alliance, added that the move "provides a pathway to restore trading while simultaneously building asset value via our DRNK stake."
Star Alliance International Corp., founded in 2014 and incorporated in Nevada, now holds a strategic position in NoHo, Inc. The company stated it remains focused on delivering long-term shareholder value through future diversification. Despite the year-to-date surge of 300%, detailed financial metrics and valuation analysis are available through InvestingPro, helping investors make informed decisions about this evolving situation.
The announcement was made in a company press release issued today.
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