(NewsDirect)
All American GoldCorp. (OTC: AAGC) is elated to update the public about the recentgrowth and massive advancements of Hollywood Star Cuts.
On Monday, June12 th , 2023, Hollywood Star Cuts, a full-service Hair andBeauty Salon with a fun and exciting Hollywood and Southern Californiatheme, completed the initial phase of Due Diligence (DD) needed tocomplete the purchase of a multi-state chain of Tanning Salons.
As stated in an earlierPress Release dated May 11, 2023, the Tanning Salons are located inFlorida, Georgia and Tennessee. The family-owned Tanning Establishmentcurrently operates 14 locations and generates roughly One MillionThree Hundred Thousand Dollars ($1,300,000) in annual revenues.
The independentauditing firm enlisted by All American Gold Corp. has validated thestated revenues and has confirmed to all parties that the financialsituation of the Tanning Facilities is strong and can be audited goingforward. Hollywood Star Cuts has replaced the Letter of Understanding(LOU) with a letter of Intention (LOI) agreed upon by allparties.
AllAmerican Gold Corp. and Hollywood Star Cuts will be utilizing the nexttwo (2) weeks negotiating the current leases with the landlords of thelocations individually.
Hollywood Star Cuts intends to convert Ten (10) of the Fourteen(14) Tanning locations into combination Hair Salon/Tanning Facilities.The remaining Four (4) locations cannot be converted into acombination Hair Salon/Tanning Facility because those locationsalready have a Hair Salon or Family Hair Cutter located withing thesame retail plaza. Hollywood Star Cuts will create a NailSalon/Tanning Facility where appropriate, sell individual locations toa third party or close the specific locations where pertinent. Onceleases have been negotiated, all parties will agree upon closing date,final cost of accusation and exact terms of payment and closing.
Hollywood Star Cutsbelieves the acquisition of the Tanning Facilities would be a perfectfit for the well-established business model and aids in theacceleration of growth necessary to deliver increased value forshareholders, investors, franchisees and employees of Hollywood StarCuts. Hollywood Star Cuts will be offering the Franchise locations tocurrent shareholders of AAGC first. Hollywood Star Cuts and AllAmerican Gold Corp. would like to reward long-term shareholders forunderstanding the durable vision of making Hollywood Star Cuts aNational brand.
All American Gold Corp’s. Fiscal Year ended the last day ofMay, 2023.
FiscalYear 2022-2023 was a transformative year for Hollywood Star Cuts andAll American Gold Corp. Early in Calander Year 2023, Hollywood StarCuts and All American Gold Corp. accomplished the invaluable goal ofachieving an operating profit for all Hollywood Star Cuts locations.Accomplishing this objective has many positive implications goingforward. First and foremost, this allows Hollywood Star Cuts growththrough Franchising without utilizing “Toxic” lending practicesthat cripples too many “Micro-Cap” public companies. All AmericanGold Corp will be focusing the Company’s finances on Growth andstrengthening the Company’s balance sheet for Fiscal Year2023-2024.
Oncethe Year End finances are disseminated, All American Gold Corp. willbe conducting a Year End Public Conference Call where the public willbe encouraged to participate and ask questions of the CEO once theinitial conversation is concluded.
As always, Hollywood Star Cuts and All AmericanGold Corp. would like to thank our fabulous crew members, ourbrilliant franchisees, our fantastic vendors, our excellent investorsand all future investors for their hard work and commitment to thevision that is Hollywood Star Cuts. Without all of them, HollywoodStar Cuts could not succeed.
All American Gold Corp. invites the public tofollow us on Twitter at as most updates andcommunication will be conducted there.
The public is also invited to follow us on and online at www.hollywoodstarcuts.com.
Forward-LookingStatement Any statements made in this press release which are nothistorical facts contain certain forward-looking statements; as suchterm is defined in the Private Security Litigation Reform Act of 1995,concerning potential developments affecting the business, prospects,financial condition and other aspects of the company to which thisrelease pertains. The actual results of the specific items describedin this release, and the company's operations generally, maydiffer materially from what is projected in such forward-lookingstatements. The company disclaims any obligation to update informationcontained in any forward-looking statement. This press release shallnot be deemed a general solicitation.
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