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Marketwired
Articles 

HUTN to Pay Special Dividends

October 19, 2018 | About:

SPRINGFIELD, Ohio, Oct. 19, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE - HUTN Inc. ( HUTN) announced today plans to issue a series of special dividends to its shareholders consisting of digital assets such as coins and tokens (collectively “digital instruments”). The first special dividend is expected to be announced by November 30, 2018.

In advance of each special dividend, HUTN will announce the specific details of the dividend as well as the dividend record date (DRD) and the dividend payment date (DPD). Special Dividends will be paid on the DPD to all persons listed on the HUTN shareholder register as of the DRD. Shareholders will need a digital wallet or digital account to receive these special dividends.

The purpose of this announcement is to allow shareholders time to prepare for receipt of special dividends by arranging for a digital wallet or digital asset account that can hold digital instruments. EF Hutton Investments LLC, HUTN’s investment advisor subsidiary, can provide an account that is designed to hold digital instruments. Shareholders interested in a digital asset account should contact EF Hutton Investments at [email protected].

For those shareholders who do not have a digital wallet or digital asset account at the time a special dividend is issued, the coin/token will be issued into a custodian digital account in the name of the shareholder and held until the shareholder is ready to transfer it to their personal digital wallet. Shareholders have six months to notify HUTN if they decline to receive the digital instrument.

“Shareholders should be the first to benefit from any coins and tokens developed by our EF Hutton unit,” said CEO Chris Daniels. “These special dividends are like an ‘airdrop’ of coins and tokens our shareholders. The first such dividend is expected to be iBTC which is a version of Bitcoin built on blockchain technology. The 'I' stands for ‘inverse’ because iBTC is designed to provide the economic inverse of Bitcoin (BTC) and therefore the use case for this coin is as a hedge to BTC.” HUTN common stock trades under the symbol HUTN.

HUTN does not represent or warrant that any market for any of the instruments does or will exist at the time the special dividend is issued to shareholders nor that any market will develop after the dividend. Shareholders and certain third-parties may have an interest in listing such instruments on an exchange. Furthermore, HUTN intends to retain a portion of any digital instruments that are issued as Special Dividends. Specific details, such as the number of coins or tokens per share of HUTN, will be provided at the time each dividend is announced.

Tax Treatment of Special Dividends
This is not to be construed as tax-advice as each individual shareholder circumstance may differ and therefore shareholders are urged to consult their own tax advisor.Dividends consisting of crypto assets that are developed from the issuer’s intellectual property would not be paid out of earnings and therefore are deemed a return of capital (ROC). Any amount received as a ROC is to be taken as an adjustment in the cost basis of the shares; no taxable income is created with a ROC. At the time each Special Dividend is announced, the announcement will include the value of the dividend so that stockholders can adjust their cost basis.

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 enables users to earn MeggaCoin as they use meggalife.com a collection of social Apps. 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. EF Hutton Inc. is a wholly-owned subsidiary of HUTN Group Inc. which is a wholly owned subsidiary of HUTN. EF Hutton has developed and owns certain intellectual property related to coins & tokens (“digital instruments”), which HUTN intends to develop and sell. 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 NOTE ABOUT FORWARD-LOOKING STATEMENTS. Certain statements contained in this document and the pre-recorded telephone message constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, conditions affecting the acquisition, development, ownership or use of real estate, actions of vendors, rising costs associated with employees (including health care costs), energy, and certain commodities, geopolitical conditions and other risks identified from time to time in the Company’s public statements and reports..


ContactInvestor Relations
CompanyEF Hutton
Phone(937) 323-2000
Email[email protected]
ti?nf=NzQwNTI1OSMyNTQzODY4IzUwMDA0ODE4MA

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