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Whomever the "auditor" is, they shouldn't get paid much.
Talk about a messy filing "as usual though". In one paragraph they say
they had to pay out higher wages to "an increase in employee's" and in
the subsequent paragraph when they are speaking of savings.. they
attributed part of that to "less employee's during the period"
Talk about a blatant error - I mean shit - they were right next to each other
in the filing. I posted it exactly in a previous post here.
Generally, when an extension is filed like that - they have to find area's where
they can make "adjustment's" to hide shit. Well, they hide shit - but if you look
you can see all of the mistakes and the FACT that they continue to BLEED in
DEBT and aren't making enough revenue to pay it down.
BANKRUPTCY remains my call without some MIRACLE coming into play.
A big $6 trade brings it back even on the day.
This trades so thinly (not too many gambler's) that $6 one way or the other
can take it from .033 to .045
One would think you could make money on that type of spread - but not with the
minuscule volume traded on this penny stock.
BANKRUPTCY LOOMS - RESORTED TO LOAN SHARK BRIDGE LOAN AFTER
RUNNING OUT OF BUCKS ON CEO'S PERSONAL CREDIT CARDS - WOW
$AVRW Avenir Wellness Solutions Inc (QB) (AVRW) Quote: https://ih.advfn.com/stock-market/USOTC/avenir-wellness-solutions-qb-AVRW/stock-price
With only $28.00 traded, they have to.
Facts and Numbers - Numbers and Facts
BANKRUPTCY or MIRACLE
Getting good vibes from AVRW!
Agreed Dickmo. Solid Growth Reported for Seratopical Revolutions Skin Care Line with Boost from Famed Beauty Box FabFitFun and Endorsements from Key Celebrities, Influencers and Top Medical Professionals: Avenir Wellness Solutions, Inc. (Stock Symbol: AVRW) https://www.einpresswire.com/article/711238053/solid-growth-for-seratopical-revolutions-skin-care-line-boost-from-famed-fabfitfun-many-key-celebrities-otc-avrw $AVRW
Looking forward to seeing continued revenue increases in future quarters.
Numbers and Facts, not company propaganda.
They couldn't pull through with the funds from the CEO's credit cards so
they had to go to a LOAN SHARK outfit to keep the lights on. I don't care
how much they "twist words" to show they are losing a little bit less money,
they are so far in the hole there is no way out without a MIRACLE.
They have sooooo much debt and continue to pile it on. Case closed.
BANKRUPTCY LOOMS
We expect accelerating sales will reaffirm the improving overall trajectory of the business. Further, our margin expansion initiatives continue to deliver results with improvement from third quarter, and we continue our overall cost containment initiatives to further reduce SG&A expenses and to maximize operating leverage.
Fine tuning our Search Engine Optimization (SEO), bringing our media buying in house and achieving successful monthly campaigns like theSkimm continue to deliver for us as we execute on our strategy to build our brands," said Nancy Duitch, Avenir CEO.
Friday, 17 May 2024
Source:
https://www.accesswire.com/864776/avenir-wellness-solutions-reports-fourth-quarter-2023-results
Kicking the can down the road.
The last (2) 8K's should alert investor's to the absolute possibility of bankruptcy.
An 8K that details that the company was taking high interest loans from the CEO's
own personal credit cards is a BIG RED FLAG.
The recent 8K detailing that they then had to go to 1800 Diagonal at LOAN SHARK
interest rates and CONVERTIBLE NOTES is another VERY LARGE RED FLAG.
Again, how anyone can be BULLISH the current situation is beyond my capacity of
understanding. The FACTS & NUMBERS have been provided on multiple ocassions
by both of us who have been following this company for a VERY LONG TIME.
Oh well - sometimes people just love to gamble.
$AVRW CEO Interview with Nancy Duitch of Avenir Wellness Solutions. Nancy has over three decades of experience in the consumer products sector and has cultivated a diverse array of businesses, guiding them from inception to the public market
$AVRW: Nicole Kidman chats with CEO Nancy Duitch
$AVRW Seratopical Gleaming Brightener with Licorice Root Extract
NUMBERS AND FACTS NOT COMPANY PROPAGANDA
READ THE 10K COMPLETELY, DEBT, LITIGATION, RUNNING DEFICIT.
READ THE 8K ABOUT LOAN FROM CEO WHICH WAS ON HER HIGH INTEREST CREDIT CARDS.
READ THE LATEST 8K WITH CONVERTIBLE NOTES/SHARE DEBT FROM LATEST LOAN SHARK.
THIS COMPANY HAS HUGE DEBT WITH A 79MM VERY BLOATED SHARE COUNT.
HARD TO INCREASE PPS WITH THIS DEBT AND SHARE STRUCTURE.
BANKRUPTCY OR MIRACLE - GO AHEAD AND BUY IF YOU ARE A HUGE GAMBLER.
"Avenir Wellness Solutions has never been in a better position to capitalize on the high intrinsic value of our unique and proprietary skin care formulations. With 15 patents under our control, the highly positive reviews Seratopical DNA Complex is receiving, and more new products in development, 2024 is set up to be a growth year for the Company. We look forward to keeping our shareholders informed of our progress, developments and milestones as we move forward.
Sincerely,
Nancy Duitch, CEO"
Source:
https://finance.yahoo.com/news/avenir-wellness-solutions-issues-2024-140000098.html
$AVRW Avenir Wellness Solutions is a broad platform technology company developing unique ingredients and cutting-edge delivery systems. Celebrity spokesperson #NicoleKidman for
@avenirwellness @Sera_Labs
https://avenirwellness.com/investors
#OTCQB (AVRW) Products Sold on AMAZON Stores and Available at Walmart and other retailers.
STUCK BETWEEN A ROCK AND A HARD SPOT
Yes, Hefty interest rates, hefty 30% automatic pps shave etc. etc. etc.
That is why I spoke of HEFTY and DESPERATION. IONIC's terms were similar.
Not sure why this company is even doing this really. Maybe they believe Avenir is
behind the 8-ball and they will HAVE to pay through the nose - no matter what.
Not sure how 1800 would even be able to sell into the market - there's really no volume
but I suppose they will create PANIC and the price will drop below ONE CENT Quickly.
Hell, depending on conversion price - they could take the outstanding to the full 150,000,000
shares allotted in order to recoup their money. If there is default and conversion, the price will
drop quite quickly. It might start to drop quickly just due to the fact of so much more debt.
These are definitely LOAN SHARK rates - or even very poor credit - CREDIT CARD
rates. Definitely much more debt to tack on to the deficit - that is, if they survive.
BANKRUPTCY LOOMS.
"IF" 1800 Diagonal Converted, it would add 10% or over 8 Million More shares
at current pricing. Total loan amount of 350,000 dollars divided by .0418 and that
would take the share count to approximately 88 Million outstanding.
Would definitely be just like IONIC if they began converting due to default and selling
shares like crazy - but - there would have to be PANIC for them to even sell as the
volume is so low.
I can't really believe they even did the deal. (1800 Diagonal that is)
INTERESTING - JUST FOUND THIS - MORE DEBT
But, maybe they can pull a rabbit out of the hat.
https://fintel.io/doc/sec-avenir-wellness-solutions-inc-1643301-8k-2024-july-05-19909-5634
Wow though - the terms look quite a bit like the IONIC agreement with the notes being convertible
and not much wiggle room - smells of desperation. Who knows.... but the line of credit on ND's
cards must have run out.
Note A shall be payable in four installments and Note B shall be payable in ten installments as set forth specifically within each Note. Pursuant to the Notes, after the occurrence of an Event of Default, the outstanding and unpaid portion of each Note is convertible into the Company’s Class A common stock, par value $0.001 par value per share (“Common Stock”) at a conversion price (“Conversion Price”) calculated by multiplying 70% of the lowest Trading Price for the Common Stock during the ten-day Trading Period ending on the latest complete trading day prior to the Conversion Date. The Conversion Price is subject to equitable adjustments for stock splits, stock dividends, or rights offerings by the Company relating to the Company’s securities or the securities of any subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions, and similar events. The number of shares of Common Stock to be issued upon each conversion of the Note is determined by dividing the outstanding amount owed on the Note by the Conversion Price.
Each Note shall have a one-time interest charge of 15% on Note A and 14% on Note B applied on the issuance date to the respective principal amount of each Note. Any amount of principal or interest on each Note which is not paid when due shall bear an interest rate of 22% per annum from the due date thereof until such principal or interest is paid. The Company has the right to repay each Note in full at any time with no prepayment penalty.
IN THE EVENT OF BANKRUPTCY - WHO WOULD COME OUT OKAY?
As can be seen by the terms of the "LOAN" agreement between the Corporation
and Nancy Duitch, Nancy Duitch now holds security and interests in the company
as a "PRIVATE" individual. In my eyes, Nancy Duitch will end up owning SeraLabs
once again as a PRIVATE company - and - those poor souls still wishing and hoping
for the miracle - the current stockholder's - well under corporate bankruptcy in a publicly
traded company - they will get SQUAT - nada - nill - I'd take the 4 cents or better bid if
I was still holding any shares in this "SHADY" non-transparent company.
SEE THIS FROM A SECTION OF THE 8k I just previously posted
The Company granted the Executive a security interest in all of the Company’s present and future personal property.
(iv) the Company is the subject of an involuntary bankruptcy petition and such petition is not dismissed within sixty (60) days.
Yes, Nancy Duitch may have some decent credentials for running "private" startups
and "marketing" new products - but - has she ever run a publicly traded company before ?
The answer there is "NO".
And, Nancy has always started with a clean slate. Has she ever been burdened with a
10.5 Million DOLLAR annual deficit ? Has she ever been burdened by (by my estimations) an over 18 Million Dollar defaulted loan (including interest and penalties)? Has she ever had to operate with a mushroom cloud of 78 Million outstanding share count and the inability to even use a publicly traded company to raise funds (due to defaulted debt and not able to issue more shares due to the defaulted debt) ?
I personally believe all of the WEIGHT she has inherited due to her partnership with Rob Davidson's Cure Pharmaceuticals, subsequent loan default, TF Tech Ventures attempted bail out by buying back rights to the Oxnard manufacturing facilities and staff along with key patents - and the fact that her buddy Rob Davidson didn't pay all the monies owed - has indeed - put Nancy into quite the bind.
When a publicly traded company has to operate off of a "LOAN" from the CEO's own personal credit cards "which may be exhausted at this moment in time" (8k info listed below) it is truly hard to be "bullish" in the matter of Nancy's ability to drag this company out of the money pit they are in. Truly an uphill battle which to me points to BANKRUPTCY without a MIRACLE on a WHITE HORSE coming to the rescue.
Time will tell.
8K Filing
Item 1.01. Entry into a Material Definitive Agreement.
On January 4, 2024, Avenir Wellness Solutions, Inc. (the “Company”) and Nancy Duitch, the Chief Executive Officer of the Company (the “Executive”), entered into that certain Senior Secured Promissory Note and Security Agreement (the “Agreement”).
The Agreement provides for a secured loan facility of up to $250,000, of which the Company borrowed an initial amount of $39,000 (the “Initial Principal Amount”) on January 4, 2024. The Agreement provides for the ability of the Company to request additional loan amounts up to $211,000 (the “Future Advances”), inclusive of the outstanding balances of certain credit cards (the “Cards”) used exclusively by the Company of which are issued in the name of the Executive. The portion of the principal amount of the Agreement (the “Principal Amount”) comprised of the Initial Principal Amount and the Future Advances (and excluding the outstanding balances on the Cards), accrues interest at an annual rate of 12%, or 18% in the event of default. The Principal Amount plus all accrued and unpaid interest is due and payable in full on the sooner of: (i) the demand of the Holder; and (ii) March 31, 2024. The Company may prepay the Principal Amount, in whole or in part, without the prior written consent of the Executive and without penalty. The Company granted the Executive a security interest in all of the Company’s present and future personal property.
In the event of default, the Executive may, upon written notice to the Company, declare the Principal Amount, including any accrued interest, immediately due and payable in cash and in full. The following constitutes events of default: (i) the Company fails to pay when due any principal or interest payment on the due date, and such payment has not been made within ten (10) days of the Company’s receipt of the Executive’s written notice to the Company of such failure to pay; (ii) the Company materially breaches any other covenant contained in the Agreement and such failure continues for fifteen (15) days after the Company receives written notice of such material breach from the Executive; (iii) the Company voluntarily files for bankruptcy protection or makes a general assignment for the benefit of creditors; or (iv) the Company is the subject of an involuntary bankruptcy petition and such petition is not dismissed within sixty (60) days.
The Agreement contains customary representations and warranties and customary affirmative covenants applicable to the Company. The foregoing description of the Agreement is not intended to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
Yes, this new interview with AVRW CEO Nancy Duitch clearly illustrates her strengths and experience in developing an emerging business. With Nancy's leadership and the proven value in the Avenir Wellness product line, AVRW should have prosperous future ahead.
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Nancy Duitch serves as the CEO of Avenir Wellness Solutions. With over three decades of experience in the consumer products sector, Nancy has cultivated a diverse array of businesses, guiding them from inception to the public market. Her expertise extends to orchestrating cutting-edge marketing and branding initiatives, resulting in a staggering $3 billion in revenue for esteemed brands. From her early years, Nancy exhibited a clear vision and pursued it with determination.
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