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The fda doesn’t care what they do. This isn’t a psychedelic. It’s a food item mushroom.
I wouldn’t give much thought in this stock with only a few hundred dollars traded daily. Most days there are no trades. CRO salary should be $180k at most. Last years sales were 375k. They’re burning money and will need to dilute soon.
If they were to double the dosage and put it in a drink it could help some more people who would then actually feel the calming effect, sleep better and then tell their friends and family.
The Calm product can be dropped into a drink as it is now. I have not done that yet. Four full droppers perhaps. There would a much better taste this way.
Does the FDA or another agency limit the dosage allowed in a beverage that could be sold commercially?
Foraging for these mushrooms must be expensive versus the cost of farming the mushrooms if it became commercially possible. It would be a great research project for a mycologist to learn how to grow Animita Muscaria.
What would be a normal CEO salary be for a start up micro cap or nano cap company like PSYCF?
No products only calm. The worst, over used name in the market. They will probably change the name. They should. They spoke of tea bags but nothing. They have a patent on a vape pen but they can’t afford the research. Looks like they might infuse calm in a beverage. That’s all they got. If it works the distribution could spread nationwide. That is if they can forge enough AME1
I still laugh at you saying this will get to $50. Clown number
They might do well but this is not ever getting to a 25m mc again.
The company they partnered with makes coconut water
We all have to double the dose to feel effective. AME. Is Amanita muscaria Extract.
I did not know about the coconut juice. Can anybody elaborate on that product and any other products in the pipeline? What does the acronym AME stand for? How effective is AME in actuality for sleep or anxiety? These are both high value indications if a product were to be safe and effective. I bought the Calm tincture but had to take twice the recommended dose to feel an effect. Thanks.
Sell me some at .05 my order to Buy is in!!
Someone just bought my 10k. Need 78k more so I can go long before they potentially launch the juice in coconut water.
This is like a bank where they don’t let you take your money out. All those buys and sells from .50 down to .03 were naked shorts. Now it’s up to new buyers to cover them. Millions of shares on the ask all the way to .10c
Put ame1 in a vape but that won’t happen for years
It’ll take them 6 months to formulate a beverage and brand. Would be nice if they get it done in 2mo
Sloooow. Won’t move for another year
Zzzz back to no trades. Hate being locked in this.
I see these guys make coconut water. Not sure if they can add it directly to that brand or will they make a new product? They need to do that. Add 2mL in each bottle or can. Sell with their distribution chain.
Need product lists. They plan on just pushing the tincture? THC infused beverages are booming. They’re missing the boat. That is if they can get into a beverage. Or a vape. I don’t see news coming on product for another 6-12 months.
Pay Attention to the players. They are not going to risk their integrity for some penny stock scam. They have a lifelong family history of success!!
People don't realize how Big this announcement Today actually is. :)
They are planning to disrupt the industry, it's going to be monumental. $$$$
Volume sucks though. Maybe one day market makers will let go of their short position. From .55c to .02 is dreadful.
Regardless I’m happy we got something. I want the vape pen. That’s the game changer if they can figure that out.
Yes. My avg is double that. Thought .12 was bottom. My big mistake. Don’t see this hitting over .10 till 2025 maybe.
How do you get $30-$50 when it’s at .03c? Do you know how market caps work? Do the math. This isn’t huge news. It’s all structured to dilute at .07c and .10c at anytime if and when the price hits.
It looks like the warrants are priced at around 7.3 cents (which is about a 90% increase from the current share price).
PSYCF is a start up company. Don't you know how that works?
So with today's news are you going to stop crying?
It's Huge news!
$30 -$50 price target = PSYCF
.
More warrants but it’s better than nothing.
Psyched Wellness and Gotham Green Partners to Close Final Tranche of US$2.5M for a Total of US$7.5M Raised and Partner with Strategic Advisors to Build Consumer Packaged Goods Derived from AME-1
Toronto, Ontario--(Newsfile Corp. - April 19, 2024) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the "Company" or "Psyched Wellness"), a life sciences company focused on the production and distribution of health and wellness products derived from the Amanita Muscaria mushroom, is pleased to announce that it has entered into a master services agreement (the "Master Services Agreement") with Zerkalo, LLC, a New York partnership ("Zerkalo"), pursuant to which the Company has engaged Zerkalo to develop product development, marketing, distribution and supply chain set up for a product derived from AME-1 (the "Product"), in accordance with the terms and conditions of the Master Services Agreement and accompanying statement of work (the "SOW" and together with the Master Services Agreement, the "Transaction Documents") for a period of the greater of: (x) thirty months and (y) the time required to complete any services still outstanding pursuant to the Transaction Documents at the end of the thirty month period.
"Closing the last tranche of the financing with Gotham Green Partners and securing Zerkalo's investment and partnership to build out our consumer packaged goods ("CPG") brand representing a transformational moment for Psyched Wellness and its shareholders," said Jeffrey Stevens, Chief Executive Officer of the Company. "As the founders of Harmless Harvest, Justin and Douglas have an incredible track record of building brands and creating value for its investors, and we are thrilled to have them lead this next chapter for Psyched Wellness," added Mr. Stevens.
"Douglas and Justin's shared alignment with our Company's vision and enthusiasm for the potential of AME-1 as a leading-edge CPG product is invaluable. With their wealth of experience and creativity, we are thrilled to collaborate in bringing Amanita products to the mass market," said David Shisel, Chief Operating Officer of the Company.
"Over the past years we have been on the lookout for a truly disruptive ingredient that can demonstrate value in tangibly improving the quality of modern life. While a broad variety of novel fungi and plants have made their way into the food and beverage aisles in the past few years, few have delivered on the promise and surging demand for wellness you can actually feel. Amanita gives us a whole new product design vocabulary that shows great promise and mass appeal. We're thrilled to join these pioneers and establish a truly needed product for the health conscious consumer," said Justin Guilbert.
"Fifteen years ago, Justin and I nurtured the dream of an integrated supply chain that values conservation, sustainability, and the complexity of biotopes. With Psyched Wellness's Amanita we finally have a non timber forest product to champion and scale to meaningful environmental impact. Better for you should be better for the planet. This opportunity is one of the rare models that can deliver a blueprint for better food systems," added Douglas Riboud.
Messrs. Guilbert and Riboud have been collaborating on developing and delivering radically innovative consumer products for the past fifteen years. As founders, they are best known for creating 'Harmless Harvest' - the plant-based juggernaut famed for its iconic coconut water. They have been involved in numerous projects, from beauty to seafood, with a core mission to successfully establish purpose or "conscious" capitalism as the next iteration for a modern construct of consumerism.
Transaction Details
Pursuant to the terms and conditions of the Transaction Documents, the Company will allocate a budget $2,250,000 in cash towards Zerkalo, payable in ten quarterly installments of $225,000 to achieve the milestones outlined in the SOW and issue to Zerkalo an aggregate of 35,066,632 advisory warrants (each, an "Advisory Warrant") within ten days of signing the Transaction Documents. These milestones include, but are not limited to, the creation of a brand/brand identity, product development/formulation, packaging conception and execution, development of marketing material, sales support and merchandising asset development, review and selection of copacker partners and strategy, oversight of pilot and production runs, go-to-market/sales-and-distribution (channel selection, positioning analysis, soft launch with core audience, channel support execution, field sales support strategy and activation, promotional strategy, negotiation and execution), and project management and finance.
Each Advisory Warrant will entitle Zerkalo to acquire one common share in the capital of the Company (each, a "Common Share") at a price of C$0.10 per Common Share (the "Exercise Price") at any time for a period of sixty months from the date of issuance, subject to certain vesting conditions. Subject to the Transaction Documents not being terminated prior to the applicable vesting date, 23,377,755 Advisory Warrants shall vest in quarterly installments over the span of ten quarters and the remaining 11,688,877 Advisory Warrants shall vest only upon the completion of the Product's launch.
The Advisory Warrants and the Common Shares underlying their exercise will be subject to: (i) a four (4) month and one (1) day hold period from the date of issuance and (ii) applicable legends as required pursuant to the U.S. Securities Act.
Private Placement Update
Further to the Company's press releases dated May 30, 2023 (the "May 30 Release") and June 12, 2023 (the "June 12 Release"), September 1, 2023 (the "September 1 Release"), September 5, 2023 and January 17, 2024, notwithstanding the fact that Gotham's (as defined in the June 12 Release) exclusivity elapsed on November 8, 2023, the Company and Gotham are continuing to work towards closing Tranche 2B (as defined in the September 1 Release). Capitalized terms not otherwise defined herein have the meanings attributed to them in the May 30 Release.
Pursuant to the terms and conditions of the Amended and Restated Investor Rights Agreement (as defined in the September 1 Release), upon satisfaction and/or waiver of the Tranche 2B Closing Conditions (as defined in the September 1 Release) and receipt of a closing notice, the parties will close a final tranche of the Offering for gross proceeds of US$2,500,000. Each Unit will be sold at a price of C$0.07 per Unit and will consist of one (1) Common Share and one (1) Warrant. Each Warrant will entitle the holder thereof to acquire one (1) Additional Share at a price of C$0.10 per Additional Share at any time for a period of sixty (60) months from the date of issuance, exercisable on a cashless basis, subject to acceleration and compliance with the policies of the CSE, as further outlined in the May 30 Release.
All securities issuable under Tranche 2B will be subject to: (i) a four (4) month and one (1) day hold period from the date of issuance and (ii) applicable legends as required pursuant to the U.S. Securities Act. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
Upon closing of Tranche 2B, and during the remainder of the Nomination Period (as defined in the September 1 Release), Gotham shall be entitled to designate the Third Nominee (as defined in the September 1 Release), replacing one existing member of the Board (who shall not be the First Nominee or Second Nominee (each as defined in the September 1 Release)), bringing the total Board representation of Gotham to three (3) members, and maintaining the board size at seven (7), provided that no more than three (3) Board members, at any time, will be employees or partners of the Investors (as defined in the June 12 Release) or their affiliates.
Gotham has no obligation to acquire any Units under Tranche 2B. The Units issuable in connection with Tranche 2B shall be issued to the Investors within five (5) business days following the satisfaction and/or waiver of the Tranche 2B Closing Conditions, subject to the terms and conditions of the Amended and Restated Investor Rights Agreement.
The Investors in Tranche 2B will enter into lock-up agreements with the Company to refrain from selling any Units acquired in Tranche 2B (and any securities underlying such Units acquired in Tranche 2B) for a period of twelve (12) months following closing of Tranche 2B.
https://www.newsfilecorp.com/release/206158
This company is over. Ame1 is as useless as tits on a bull. Big pharma doesn’t need a 5000 yr old mushroom in the way. He’s the only company in the world with this compound and still nobody wants it.
Point is, ceo pushed his FOMO in qtr 3 last year for eoy and beginning of 2024 full well knowing sales were low and no product launches. Dont know why GG would invest in this if they don’t bring out new products. The addition to her on the board is meaningless. They have no desire to propel this business.
She knows what GGP wants her to know. :)
Imagine being in a stock that has no volume. They will shut this company down. Its done.
That chic is 22 yrs old. She knows nothing.
Hopefully nobody will replace him. They can’t find key acccounts anyways. It’s a dead tincture for the price. Own it, nobody ready and willing for a fungus.
Jeff will continue to get millions of shares just so long the share price is low. Executing warrants.
$700k salaries in 2023. For what? $300k in sales? This is a shell company and they’re treating it like one. They don’t care about investors. Simple.
Matt Singh is gone. Did you not read the PR?
I did read the Financials and I don't recall see $500k salary but I do agree the salaries are high Especially for Shisel.
Jeff owns Millions of shares. Matt was supposed to get back to me about a couple things but he dropped the ball. So probably not a good fit for that position. Let's see who will replace him. :)
Well the "chic" on the board is from GGP. the "cfo" did Not leave. Stay tuned to find out what Japan means.
Who recalls the ceo saying late 2023 early 2024 we would see fomo? What a douche
Ain’t nobody buying gay ass mushroom sleep juice. Take the loss if you can get out. This will never go back to .10c. They stopped all research. Can’t blame them when they dilute, execute warrants, pay CEO $500k annually with sales dropping from 320k in 2022 to 220k in 2023. They won’t pay to keep this listed much longer. CE soon. Dump before its to late because it will go under a penny within a month.
That is why the cfo left. He wants nothing to do with this company after financials came out. Literally 99% of otc is scam.
You read those financials? Warrants executed, dilluted, salaries are so high for ceo. He’s paying himself 500k and sales are 300k. He’s a criminal. Everyone bailed that believed in the mushroom. Another shell otc scam!
This is going pink soon and under .0001
They are so fkt. Taking a loss even further.
Sales dropped significantly from 2022 to 2023. They made more in 2022 than 2023. How is that possible?
Unreal.
Sales $320k
Operating expenses -3.5M
Yea, they’re done.
I’ll send this piece of sheet to .009 with my sells.
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