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Agreed! $BNOW
Please post your response. See the following for the answers that I got back from Integrity Media and CEO Justin Gonzalez:
Hi, Xxxx,
Got the following back from management. Hope this answers your questions.
Hi Kurt,
As we discussed on the phone, I have concerns and a couple questions regarding the excerpt below from the recently filed Form 10:
1. As stated in the Form 10; are you even remotely considering increasing the AS to accommodate 35,030,680,000 converted Series A Preferred shares? That would be just insane even on the OTC in my opinion!
The SEC has required us to make sure that we have enough Authorized to accommodate the conversion of the Preferred A. We have applied to the state to change the authorized to meet this request by the SEC.
2. And then a reverse split was mentioned also in this form, to accommodate the conversion of these Preferred shares; are you considering a reverse split? Now, that would just add insult to injury, again in my opinion!
There is no reverse split being considered, I’m not sure what is being referred to in the form. Must be misunderstanding it because this is not something we are considering.
3. Please; what am I missing here?
I believe what is being missed is that there is no reverse split being considered and even though we have matured preferred shares it does not mean that they will be converted into common shares.
4. Finally, can you update on the conversion and distribution of the LOFB Spinoff shares? I was told there was a block of preferred shares set aside in an agreement which included a 2 year maturity period ending 10-31-2021. It is my understanding also that a request was sent to Boon's TA to convert those shares on or about 1-5-2022.
As a non-reporting company, as we were then, the maturity rate is one year. Now that we are a reporting company the maturity time is six months. I’m not sure where this two year maturity period ending 10-31-21 is coming from.
Any conversions of restricted preferred shares needs to be converted at the restricted rate after maturity to ensure market stability. The preferred shares remain in place to offer the company additional funding opportunities and options.
Show quoted text
--
Kind Regards,
Kurt Divich
Direct Line/Text: 702-327-4197
IntegrityMedia.com
I agree, and I am not happy with the new share structure either however this is not a deal killer. Right now there's only 1.5 billion shares outstanding and for the time being at least that's not bad.
Anyway, the company told me that they were required by the SEC to increase the AS to accommodate the preferred share conversions if they were to be requested. Now, that doesn't mean that those shares will be converted but the SEC required this just in case. The company also included enough shares in this new structure for future expansion and needs.
Bottom line, with the kind of revenue this company is projecting we are still in good shape here. I figure it won't be long before the company is producing at capacity and then perhaps in need of scaling their production up from there. And if Boon is producing at capacity then we could be looking at a PPS north of $.50 cents, woohoo! $BNOW...
That's simply not true. There is a new awareness, not saying germophobia, but airlines will be sanitizing, and hospitals, and theaters, etc., will in all likelihood be sanitizing for years and years to come! In fact, the company reiterated to me that the $64 million dollars in stacked contracts are still intact and that they are just waiting for government approval to start fulfilling those orders! In the meantime they are able and are in fact fulfilling the agricultural orders as we speak, and new orders everyday I am told!
It's quite simple really; until the government approves List N for Covid-19 sanitizing Boon Industries can only sell to the agricultural side of the business. With that in mind, look for evidence of revenue from the agricultural side at least in the upcoming annual report and then I think even more revenue in the quarterly report to follow shortly after; on or before the 15th of May. Things are just getting started around here and the company is looking forward to the telling of Boon's story! $BNOW...
Did you do the math? $19,500,000 * 4 quarters equals $78 million and that my friend is the production capacity announced in the most recent PR: now I know it may take a little while to reach capacity but I for one am excited at the prospect at least. Go $BNOW...
https://www.otcmarkets.com/stock/BNOW/news/Boons-Processing-Facility-Up-and-Running-78M-Annual-Capacity?id=348254
Exactly right, news is coming, audited annual report, List N approval, revenue, new contracts: agriculture, medical, travel, leisure, hospitality, government:
OS: 1,438,186,504
Capacity: Boon Revenue
Qtrly Rev: $19,500,000
Yearly: $78,000,000
Margin 60%: $46,800,000
Yearly EPS: $0.0325
Multiple: 20
PPS: $0.65
And this is just for starters. Go $BNOW...
I'm with you Vegas; been a believer for over a year now and am ready for $BNOW to launch. The company says this product is one of those disruptive products that can change everything and I believe also this means worldwide!!! They went on to say:
"Our DiOx+ product is five hundred thousand times more oxidative than alcohol and more suitable to effectively manage the most resistant of germs. The liquid-based segment for our DiOx+ is projected to reach a revenue figure of close to $8 billion by 2026 as most commercial medical-grade disinfectants are in the liquid form. The U.S. disinfectant market is expected to reach over $5 billion by 2026 due to the prevalence of HAIs and the rise in acute and chronic diseases.”
https://www.otcmarkets.com/stock/BNOW/news/BOON-Engages-DiOx-Broad-Spectrum-Applications-While-Finalizing-52M-Contract?id=287815
Well okay, a fire hose can deliver 500 gallons per minute but I'm with you man; ready for proof too! After all, it's been a year now since talk of $64 million dollars in stacked contracts were mentioned and, a number of contracts added since, especially on the agricultural side of the business. And, now we have the production facilities to deliver, so, it's not Miller time, it's revenue time! Go $BNOW...
https://www.otcmarkets.com/stock/BNOW/news/BOON-Engages-DiOx-Broad-Spectrum-Applications-While-Finalizing-52M-Contract?id=287815
That mention of RS in the Form 10 was purely hypothetical based on purely hypothetical conversion rates! Furthermore, management confirmed there is no thought or consideration of a reverse split! Besides, with a share structure like Boon has, still beautiful, there is no reason whatsoever for a reverse split...
Agreed HJ: scare tactics galore. It should be illegal, in fact, it's so manipulative that it probably is illegal! Anyway, I'm going to take it as a good sign and, you know what they say, "Volume before PPS." Interest in $BNOW is off the charts! I believe big things are happening behind the scenes and the CEO says it, meaning dilution, is in the interest of the long-term investor. Besides, I've watched this company go from zero volume to 1.4 billion shares traded in one day, woohoo! Despite everything, I am all in on this one!
The following is to dispel some concerns resulting from all the manipulation. See email below from Kurt, Integrity Media, media and CEO Justin Gonzalez, and, I pulled no punches with my questions:
Hi, XXXX,
Got the following back from management. Hope this answers your questions.
Hi Kurt,
As we discussed on the phone, I have concerns and a couple questions regarding the excerpt below from the recently filed Form 10:
1. As stated in the Form 10; are you even remotely considering increasing the AS to accommodate 35,030,680,000 converted Series A Preferred shares? That would be just insane even on the OTC in my opinion!
The SEC has required us to make sure that we have enough Authorized to accommodate the conversion of the Preferred A. We have applied to the state to change the authorized to meet this request by the SEC.
2. And then a reverse split was mentioned also in this form, to accommodate the conversion of these Preferred shares; are you considering a reverse split? Now, that would just add insult to injury, again in my opinion!
There is no reverse split being considered, I’m not sure what is being referred to in the form. Must be misunderstanding it because this is not something we are considering.
3. Please; what am I missing here?
I believe what is being missed is that there is no reverse split being considered and even though we have matured preferred shares it does not mean that they will be converted into common shares.
4. Finally, can you update on the conversion and distribution of the LOFB Spinoff shares? I was told there was a block of preferred shares set aside in an agreement which included a 2 year maturity period ending 10-31-2021. It is my understanding also that a request was sent to Boon's TA to convert those shares on or about 1-5-2022.
As a non-reporting company, as we were then, the maturity rate is one year. Now that we are a reporting company the maturity time is six months. I’m not sure where this two year maturity period ending 10-31-21 is coming from.
Any conversions of restricted preferred shares needs to be converted at the restricted rate after maturity to ensure market stability. The preferred shares remain in place to offer the company additional funding opportunities and options.
Show quoted text
--
Kind Regards,
Kurt Divich
Direct Line/Text: 702-327-4197
IntegrityMedia.com
?
Proof is in the pudding!
Not a chance, no RS, unless we get to billions or, in reality, tens of billions of shares outstanding then perhaps, but, right now we are less than 1 billion shares OS and that, my friend, in the OTC world is a beautiful share structure STILL... $BNOW...
What are you talking about? Stop it already!
CEO Justin Gonzalez confirmed the same for me as well; no reverse split! $BNOW...
Very interesting indeed as Kurt Divich at Integrity Media and CEO Justin Gonzalez have responded to me each and every time, both by phone and by email, hmmm. And the rest of all this is just hypothetical yet still at this time: EPA approval, stacked contracts, revenue, and price per share will tell the story here in the coming days, weeks, and months and Integrity Media is standing by, anxious in fact, to tell that story!
All things considered, I am very much looking forward to the telling of Boon Industries' story including the day I receive my spinoff shares! Yes, and no need to remind me, it's been a long time in coming, but, I have reason to expect now that even this part of the story, the receiving of our spinoff shares, will be told soon enough. All in good time! Go $BNOW...
You are absolutely right Johnny boy; you win the prize of the day!
I have spoken to the company a number of times; it's quite obvious you have not!
Where have you been: List N first, contracts second, then we ship product!
That said, fortunately we don't have to wait for List N approval on the agricultural side of this business, so, I suspect we have already been shipping product and expect we'll see results in the upcoming annual and first quarter reports! Keep in mind also that this annual report should be audited which should then also pave the way for an uplist to the OTCQB as mentioned...
You know what they say, "Rome wasn't built in a day," but I see progress! $BNOW.
I agree, it's good to be cautious and You're right also, proof is in the pudding. In the meantime, just have to enjoy these momentum runs, right, that is if you can shut out all the noise!
That said, you don't want to be too cautious and miss the transition from scam company, as so many have claimed, to real company as evidence by real revenue! I think it's only a matter of time and I think also it will be worth the wait! $BNOW...
Really, when you dilute from 0 to a billion shares you're building a business and you had better see progress: fortunately plenty of progress to report! On the other hand, when you dilute from 10 billion to 20 billion, well then, Huston, we have a problem!
Boon is building a business and there's plenty of evidence: production facilities built, Integrity Media hired, Wallrich branding and marketing firm hired, evidence of stacked contracts including one very large government contract which I'm excited about because I work for the government, space in fact, and my guess is that contract will go to GSA. Folks, this is a big deal! $BNOW...
Yeah well; it's been many months passed already but the company did give us an end date; said by the end of the first or the second quarter is when they expect full EPA and List N approval! Bottom line, if approval doesn't come by the end of this month or this quarter, then one more quarter is not the end of the world as you seem to suggest. $BNOW...
See the following link for 64 million dollars in stacked contracts: keep in mind these contracts are unrelated to the agricultural business which is moving full speed ahead. It was stated that Wallrich Creative Communications, a top notch firm just hired, is branding and marketing for those agricultural contracts right now as we speak which I think alone will be huge!
https://www.otcmarkets.com/stock/BNOW/news/BOON-Engages-DiOx-Broad-Spectrum-Applications-While-Finalizing-52M-Contract?id=287815
Agreed; gave you a follow!
It's true, and true also that the company did PR stacked contracts of at least $64 million! Moving forward, the majority of those contracts are outside of the agricultural business and are contingent upon the EPA and List N approval for sanitizing of Covid-19.
Understanding this, List N approval is expected any day now and will open the floodgates allowing the company to finally start fulfilling these orders. I am encouraged by the fact that they now have the capacity to fulfill these orders and more and, the fact that they have the ability to scale up quite rapidly when needed. Finally, Integrity Media did confirm for me that these stacked contracts are still viable and only just waiting for EPA approval. $BNOW...
Boon is number 26 on the breakout boards, still a lot of interest here, and a number of whales too! Looking forward to the week ahead! $BNOW...
You are absolutely right $78 million in potential revenue is huge:
Qtrly Rev: $19,500,000
Yearly: $78,000,000
Margin 60%: $46,800,000
Yearly EPS: $0.0586
Multiple: 17
*PPS: $1.00*
Pick your multiple but 17 is well within reason for a fast-growing stock! And, $1 is within the realm of possibility too with projected revenue and stacked contracts already! Besides, I've seen a number of stocks up-list from here to the OTCQB and run to a nearly a dollar! Go $BNOW...
I wasn't going to post either however I was in this stock last year when it barely traded 1,000 shares in an entire week::: Yesterday it traded 1.3 billion shares in one day, woohoo hoo!!! Go BNOW!!!
No, it's just the delay. I think that we just keep buying if you can. Lord willing and the creek don't rise, I might just end up with 25+ million shares.
True, the company has been diluting for over a year now, however, the company says in their defense that they are in a rapid growth and expansion period; saying also it is to the benefit of the long-term investors!
Then too, I suppose you could call it a pack of lies, but, only if you insist that a government delay means that they are lying about the rosie scenario they have painted here. And, I suppose if you believe in this way then you would have to believe also that everything else this company says they are doing is nefarious in every way!
Now, only time will tell but I believe that the dilution is well within reason, provided the money is being used to build this company, and, all evidence indicates that it is... For example: they finished a new production facility, acquired new warehousing space, appointed new management, new PR department, Integrity Media, and they contracted one of the best marketing and branding companies in the country, Wallrich Communications.
Finally, the time required to build this company from the ground up is also well within reason too especially considering that they must deal with a government agency, the EPA, in the midst of a pandemic too no less!!!
Bottom line, if Boon gets their EPA certification and List N approval for COVID-19 sanitization, in the first or second quarter of 2022 as projected, then we are golden here! Go $BNOW...
First, See PR link for stacked contracts:
https://www.otcmarkets.com/stock/BNOW/news/BOON-Engages-DiOx-Broad-Spectrum-Applications-While-Finalizing-52M-Contract?id=287815
Next, see link for OS as of 1-12-22:
https://www.otcmarkets.com/stock/BNOW/security
Now granted I'm speculating a bit when it comes to the margin but, for a product such as this, I really don't think 60% is unreasonably high. See The following link for high margin stocks:
https://finance.yahoo.com/news/11-stocks-highest-gross-margins-211021961.html
Then, see link for a reasonable multiple: https://www.investopedia.com/terms/m/multiplecompression.asp
Finally, it's just a matter of doing the math which I have done here:
Stacked contracts: $64 mil:
Qtrly Rev: $16,000,000
Yearly: $64,000,000
Margin 60%: $38,400,000
OS: 458,208,725
Yearly EPS: $0.0838
Multiple: 20
PPS: $1.68
$BNOW
I think more likely $1.68:
Stacked contracts: $64 mil:
Qtrly Rev: $16,000,000
Yearly: $64,000,000
Margin 60%: $38,400,000
OS: 458,208,725
Yearly EPS: $0.0838
Multiple: 20
PPS: $1.68
$BNOW
For the last time, stated value is not redemption value but, you sure are getting a lot of miles out of this... Go $BNOW...
Focus, BS here is high but the OS is low at 458 million shares... In fact, I would call this a beautiful share structure compared to most all OTC stocks. Again, stated value is not nominal value and certainly not redemption value. You can't get to 14 billion shares from a 7 million block of preferred shares as you stated, quote:
"It's $70 million worth of Preferred Shares (7 million x $10 per share), not a 70 million share block.
Big difference.
To convert all that at current prices would add around 14 billion shares to the count."
That said you might get to 70 million shares with this conversion ratio and that's why I said your example is not likely but there is a chance that those are our spin-off shares at 70 million shares. However, what kind of fuzzy math did you use to get to 14 billion shares???
First, stated value is not nominal value. More to the point, stated value is not redemption value.
Secondly do you even know what the conversion premium is?
Third, the example you've given likely has absolutely nothing to do whatsoever with the spinoff I am talking about and the converting of those particular preferred shares.
Finally, we can only stand just so much cockamamie!
I choose neither BUZZY or BOON are lying; sometimes you just have to work it out: I think that's what they are doing but, then again, sometimes you have to take it to court! Now, fortunately, it hasn't come to that in all these years and I hope it never does! Soon enough though you will know, we will all know! Go $BNOW...
I am an optimist, I believe in this company, and in my communications with them I have seen that they are open, transparent, and working hard toward the long-term goals of the shareholders. FURTHERMORE, I DIDN'T SAY THAT THEY WERE TRYING TO STEAL MY SPIN-OFF SHARES. REMEMBER, I TOLD YOU THAT THE AGREEMENT TO DISTRIBUTE THOSE SPINOFF SHARES HAS BEEN IN PLACE FOR MORE THAN 2 YEARS AND NOW IT IS TIME. So, I wonder why it is that you try to make everything this company does into something nefarious... $BNOW...
Yes, there has been follow-up; in fact, the CEO met with his legal team just today regarding the issuance of LOFB/BNOW spinoff shares and, we were told to expect an update to follow. Noteworthy is how the CEO worded his statement with specificity regarding this meeting; putting LOFB spinoff and issuance of shares in the same sentence!
No, I have not received my shares yet, however, there is an agreement pertaining to this now infamous block of preferred shares which was set aside for the spin-off and it's even been in place long enough to satisfy the required 2-year maturity period ending on 10-31-21.
Yes, still hoping but not without hope though. CEO says one way or the other, even if he has to get a court order, that we will get our shares. This is a legal matter which I believe FINRA and the SEC would have plenty to say about so, I do expect to get my shares. All things considered, it certainly appears at this point, to me at least, that it is only a matter of time now before I get my spinoff shares... Go BNOW!
Once upon a time, long before you came along, October 31st 2017 to be exact, we were promised a spin-off of one share for every 12 shares of V Group. The BNOW share structure was authorized by FINRA to include this spin-off. In fact, the company was created with this Dividend spin-off included in the share structure for the V Group shareholders of record:
Spinoff - Date of Record: 10/31/17
OS at DOR: 1,624,197,000
Dividend %: 1 for 12 = 8.33%
LOFB Spinoff Rsvd: 135,349,750
Larry Twombly CEO Owned: 815,650,000
CEO released his share: 67,970,833
Leaving Spinoff Reserved:67,378,917
Bottom line, this 67,378,917 increase in the OS should come as no surprise to anyone as it was baked into the cake at the inception of this company. We've been waiting a long time for our promised spin-off shares and all the evidence points to the fact that our time is hear:
November 15, 2021
The BNOW t/a was sent a notification Friday that V Group would like to convert their preferred shares with the intention of distributing them to their shareholders. We will follow up tomorrow to make sure it was received and it’s being processed. $VGID
The BNOW t/a was sent a notification Friday that V Group would like to convert their preferred shares with the intention of distributing them to their shareholders. We will follow up tomorrow to make sure it was received and it’s being processed. $VGID
— V Group (@VGroup20) November 15, 2021
Furthermore, I was referring specifically to a conversion request that went to Boon on November 15th and 67,378,917 shares are needed in order to satisfy that conversion request... Now, based on this current update it looks to me that the conversion request was honored and is most likely the bulk of the 90 million shares you just mentioned... $BNOW.