Rockwall Company (THCZ) to Raise $1M for Hemp-Based Beverages http://www.bizjournals.com/dallas/news/2014/09/25/rockwall-company-to-raise-1m-for-hemp-based.html
As battles rage on concerning the legalization and use of marijuana and hemp, one Dallas company is getting in on the trend in a new and “wild” way, said Jerry Grisaffi, owner of Totally Hemp Crazy (otc: THCZ).
The Rockwall company filed Sept. 24 for a round of funding to raise $1 million. The proceeds will help Grisaffi and his company produce hemp-based beverages that are set to hit shelves before the end of the year.
It puts a whole new spin on thinking green.
“Hemp and marijuana are getting such press, everyone wants to be on this new wave, and so do we,” Grisaffi said. “What we do is totally drug-free, and has all the benefits of hemp.”
The irony, of course, is that his company’s initials are THC, short for tetrahydrocannabinol, a common chemical in cannabis. And the company's logo features a green leaf.
But for Grisaffi, this isn’t a drug issue. Instead, he’s touting the health benefits that can be found in the lemonades, energy drinks, iced tea and flavored waters he’s planning to offer. Hemp reportedly can contain healthful Omega-3 and Omega-6 fatty acids and amino acids, and may be beneficial for heart and immune system health.
Totally Hemp Crazy already distributes hemp-based drinks for CHILLO soft drinks, a subsidiary of CHILL-Texas, which Grisaffi acquired in July. His new beverages will be Grisaffi’s own foray into the hemp industry.
Each drink will sell for $2.99 per 12-ounce can and at first will be marketed in Dallas, Austin, Houston and San Antonio, although Grisaffi says he has already been contacted by other distributors around the country. Each beverage will carry the Totally Hemp Crazy brand, but may have different names.
Before launching Totally Hemp Crazy, Grisaffi operated Republic of Texas Brands, a food and beverage company. Grisaffi changed the company’s name in July when he decided to board the hemp train.
“We think it’s going to be wild,” he says of his new concept.
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The 10 Million Share Preferred is the Controlling Block of the company to prevent a hostile takeover
This section maintained by pitts77h
A 10 MILLION share Preferred has been issued. Terms of the preferred have never been disclosed.
They were issued BEFORE the company's recent bankruptcy, proving the "hostile takeover" explanation to be false. There are no filings explaining the preferred, or detailing what consideration was paid for the preferred.
Post bankruptcy, this company claims to have merged with "Chill Texas."
The terms of this "merger" have never been provided, the names of the benificiaries have never been made public, and any dilution from the "merger" is unknown.