Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You are CORRECT - I'll hang around awhile longer.
You are also correct in that "mostly" true facts are held within the 10K's that
"REAL INVESTORS" should be looking at very closely - not BULLSHIT NEWS
releases put out on / in paid for investor newsletter's and investment boards.
REAL INVESTORS do know that OTCQB companies do have to report in a timely
fashion - but the SEC does not monitor them for accuracy NOR LIES... that is for
certain. As well, many many many OTCQB companies are purely BULLSHIT such
as this one is.
Anyhow, there are only a few of us who are indeed keeping this board balanced and
helping keeping any new people from losing their asses unless they want to take a
real GAMBLE here.
BUYER BEWARE - this company could very well be on the VERGE of BANKRUPTCY
as they are out of CASH, have pending litigation on DEFAULTED DEBT, 10.5 MILLION
yearly deficit, have never ever turned a profit in ANY quarter - and are being run by
a CEO who publicly stated she wasn't worried about stock price. She is quite used to
run a private company where she makes all the rules - more like an MLM company.
Anyhow - NEWBIES here be very careful.
DONE POSTING HERE - BEST WISHES
FROM 10K, a working capital deficit of $10.5 million
Fri, May 17, 4:32 PM (9 days ago)
Avenir Wellness Solutions, Inc. (AVRW), a Delaware-based technology company, focuses on nutraceutical formulation and delivery technologies. For the fiscal year ended December 31, 2023, the company reported a decrease in revenue to $4.3 million from $4.9 million in 2022, primarily due to limited marketing capabilities and the discontinuation of certain product lines. Cost of goods sold decreased to $1.2 million, reflecting a 28.5% revenue share, down from 31.8% in 2022, mainly due to reduced inventory reserves. Operating expenses totaled $9.1 million, down from $11.7 million in 2022, driven by lower depreciation, amortization, and professional fees. The company reported a significant improvement in other income, primarily due to gains from debt extinguishment and changes in the fair value of convertible notes. However, the company still faces a substantial working capital deficit of $10.5 million. Avenir's future outlook includes continued efforts to grow its product offerings and customer base, with a focus on improving cash flow from operations. The company acknowledges the need for additional funding to sustain operations and address its working capital deficit. Risk factors include reliance on additional capital, market conditions, and supply chain disruptions.
https://tradepost.ai/analysis/avenir-wellness-solutions-inc-avrw-10-k-filing-2023
A CEO WHO IS NOT WORRIED ABOUT STOCK PRICE.
In January of 2023, Nancy Duitch basically said the same thing as now.
And, what has the stock done - especially since she publicly said she
wasn't going to worry about the stock price - GEESH - unheard of - not worried
about the stock price - thus - not worried about shareholders.
Share price went from 20 cents per share down to 3 cents with
a low of 2 cents.
From Nancy Duitch interview:
Avenir’s stock is only worth 20 cents as of Jan. 18, but with a new direction that could change.
An expert in the wellness industry, Duitch is ready and excited for this new chapter in Avenir’s history.
“I made a decision that I wasn’t going to worry about the stock, I was going to
worry about building the foundation of the company and the fundamentals of the company and we put
together a phenomenal team once I got money in from the sale,” Duitch said.
“I’m very frugal with money but I brought in some great people on the team that have really been so
phenomenal. It took us four or five months to find the right people and get the right team together and
really get things going but I am excited and optimistic about 2023.”
https://www.pacbiztimes.com/2023/01/19/a-fresh-face-avenir-formerly-cure-embraces-rebrand/
Funny she says she is very frugal with money when she burnt through that money in record time......
And what did that optimism about 2023 with all the big talk get shareholder's - more debt and a huge
drop in the stock price. So, the big talk about 2024 that is being talked about - with them being even
more in debt and no one to loan them any money ??
Talk is talk and just that...... ALL TALK
NICOLE KIDMAN JOINS - STOCK DROPS 98% LOL
Since teaming up with SeraLabs in Dec of 2020, the
stock price has dropped from $1.83 per share to 3 cents.
Even she can't save this company with a bad business model
and even worse management and BOD's. They have absolutely
no idea how to run a publicly traded company. As well, they have
no money, no credit, no profits and defaulted debt currently in litigation.
They can't issue stock, no bank will touch them, and no other
financial investor's or institutions will even consider them.
Add it all up - BANKRUPTCY is the ONLY way out.
AVRW - A COMPANY SOON TO BE BANKRUPT.
I have followed this company longer than anyone else posting here.
I tend to know what the hell has gone on here. As well - once again....
REAL INVESTOR'S aren't even looking at this POS company.
Anyone who thinks I am just posting here just recently, go back 7 years and
you will see that I followed this company, and was actually invested until she
dropped below $1.00 and I started putting the RD pieces of the puzzle together
and through my buddy heard some pretty damning things before he died down
HUGE money on this by trusting in RD. I told him he was asking for trouble, but
he just kept putting money in. Believe it or not - long before SeraLabs and Avenir
Wellness (before the IONIC dilutive debt debacle to acquire SeraLabs) I was
bullish.
Anyhow, I think I know what the hell I am talking about here. Been watching it for
a LONG LONG TIME and have done more research most likely - than all the rest
of the BULLISH people posting here combined. Just a response to some bullshit I just read.
As far as an OTCQB company being under any true scrutiny of the SEC, that is a
real freaking JOKE. I mean LOL !! The company can state all kind of lies, and
RD has truly done so - and he's still COB of this failing company.
And - bid and ask prices are dropping again after some read the quite late 10K
Everyone - have a truly nice Memorial Day Weekend !!
Right - "REAL INVESTORS" want to know 🤣😂😭
Real investors go through 10Ks and 10Qs carefully.
Real investors won't touch this penny stock, period.
Real investors don't get sucked in by Fluff paid for
articles from unreputable sources.
And as for the "many key celebrities", Nicole Kidman
has been with the company since Dec 2020 when the
stock price was approx. $1.83 per share. It's between
3 cents and 4 cents now - so truly, not too many people
care.
TICK TOCK - TICK TOCK.......
ONCE AVRW PARTS WAYS WITH RD (COTB)
I WILL "NEVER" POST HERE AGAIN.
IF YOU DON'T SMELL SOMETHING FISHY WITH
RD STILL BEING CHAIRMAN OF THE BOARD OF THIS COMPANY
YOU HAVE NO CLUE WHAT HAS GONE ON HERE.
THIS SHIP IS STILL TAKING ON WATER AND I AM AMAZED IT IS
STILL BEING SUPPORTED BY THOSE WHO ARE UNDERWATER.
JUST A MATTER OF TIME UNTIL IT IS FULLY SUBMERGED.
GOOD LUCK THOUGH.
ANYONE WHO CAN'T UNDERSTAND THAT THERE IS SOMETHING
WRONG HERE WITH THE "RD + ND" COMPANY DUO - UNREAL 🤔
AND ONCE AGAIN - NICOLE KIDMAN HAS BEEN ABOARD FOR OVER
3 YEARS - AND WHAT'S GONE ON? PRICE CONTINUES TO DROP.
Not even sure that would help. They burnt through the last
12MM they got in record time - and what did the share price do?
DOWN DOWN DOWN. Once again, they have no clue how to
run a publicly traded company and the debt burden is too large
for them to run it like a basement startup or over the garage
startup. They can't issue shares, they can't get bank loans,
they had a loan shark loan and defaulted on it.
They are destined to fail (JMHO)
On approximately $600.00 in total shares traded.
Not too many people know about this company.
And regardless of what the CEO says in these
BULLSHIT statements - they continue to BLEED
money and NICOLE KIDMAN hasn't made a bit
of difference for over 3 freaking years. So NK
and the tits/ass plastic surgeon fellow - cannot
overcome the massive debt, lawsuit, and lack of
knowledge about how to run a publicly traded
company that this joke of a company is buried
under. As well, RD is STILL Chairman of the Board
which is a HUGE RED FLAG
Anyhow - I stated before that they would come up
with some numbers that would satisfy the SEC and
some of the shareholder's - but it surely wasn't a good
yearly report. (Unless going 2MILL more in debt is a
good thing)
Company goes 2 MILLION more in DEBT !!
I don't see ANY GOOD NEWS at all.
Half of the filing is DISCLAIMERS !!!
Special attention to the following - THE COMPANY CONTINUES TO BLEED TO DEATH...
and the deficit INCREASED by 2 MILLION Dollars !
Working Capital Deficit
Working capital deficit as of December 31, 2023 was approximately $10.5 million, as compared to a working capital deficit of approximately $8.0 million as of December 31, 2022. As of December 31, 2023, current assets were approximately $2.0 million, comprised primarily of (i) cash of approximately $49 thousand, (ii) notes receivable of $1.0 million, (iii) accounts receivable, net of $443 thousand, (iv) inventory, net of $199 thousand, (v) prepaid expenses and other assets of $286 thousand and (vi) due from related party of $4 thousand. As of December 31, 2022, current assets were approximately $5.9 million, comprised primarily of (i) cash of approximately $2.9 million, (ii) notes receivable of $2.0 million, (iii) accounts receivable, net of $232 thousand, (iv) inventory, net of $145 thousand, (v) prepaid expenses and other assets of $441 thousand and (vi) due from related party of $167 thousand.
As of December 31, 2023, current liabilities were approximately $12.5 million, comprised primarily of (i) approximately $8.2 million in loans, notes and convertible notes payable, (ii) approximately $2.5 million in accounts payable; (iii) $416 thousand in deferred revenue, (iv) approximately $1.3 million in accrued expenses, payroll liabilities and sales tax payable, and (v) $45 thousand of operating lease payables. Comparatively, as of December 31, 2022, current liabilities were approximately $13.9 million, comprised primarily of (i) approximately $9.9 million in loans, notes and convertible notes payable, (ii) approximately $1.1 million in accounts payable; (iii) $495 thousand in deferred revenue, (iv) approximately $1.5 million in accrued expenses, payroll liabilities and sales tax payable, (v) contingent stock consideration of $860 thousand and (vi) $124 thousand of operating lease payables.
I no longer see Avenir Wellness nor SeraLabs in the Building at 5805 Sepulveda #801
It now shows LandMark Network, Inc. Campus location.
Just an FYI....
https://www.google.com/maps/place/5805+Sepulveda+Blvd+%23801,+Van+Nuys,+CA+91411/[@ userid=118].46737,184m/data=!3m2!1e3!4b1!4m6!3m5!1s0x80c297758f8ddf27:0x5f4485e0834aae85!8m2!3d34.176305!4d-118.4667263!16s%2Fg%2F11ll6v272_?entry=ttu
10-9-8-7-6-5-4-3-2-1 DE-LISTING ???
10-9-8-7-6-5-4-3-2-1 HALT / GREY MARKET ?
10-9-8-7-6-5-4-3-2-1 BANKRUPTCY !!
https://fintel.io/sfs/us/avrw#10-K
https://www.avenirwellness.com/sec-filings
MIRACLE ??
$5.79 worth of trading here today - I guess everyone is in way too deep
to bite the bullet now and get their .03-.045 per share before they are
worthless.
BANKRUPTCY or MIRACLE ??
Agreed - won't be long - but as usual it is the shareholder's who get
screwed - ND will still be skating away with Millions of dollars and RD
made sure she would. I'd have to say those two have been "uh hmmm"
some kind of buddies for awhile.
RD himself is the cause of the entire calamity here. And, why would he
still be the Chairman of the Board of directors - unless - he had made some
sweet deal with ND? Imagine that - ND got the 11 Million for SeraLabs which
was the IONIC debt deal - so - CURE could show some income and they could
develop CBD/THC products together - never happened - IONIC default debt -
then somehow RD comes up with 20Mill (that number is still a joke though) to
buy back the manufacturing facility along with the best patents - AND to boot
ND then didn't pay a dime toward the IONIC debt - but - paid back all monies
owed to themselves. Again, you can't make this up - AND a little further, they
burnt through that money in RECORD time. I bet the 10K will have all kind of
made up numbers - that is - if it ever gets released before BANKUPTCY.
You can't make this kind of story up - the tangled web that has been woven.
Anyone who reads this thread would wonder how the hell they are even still
doing any business at all - and why the shareholder's haven't demanded
accountability.......
Just saying - BANKRUPTCY looms.
Yes sir, the HALT then De-listing appears imminent.
Should be any day now. Buyer Beware - Still no 10K with an excuse
filed in an 8-K which was done wrong so they had to file an 8-K/A.
Anyone still buying in here is quite the gambler.
They have no idea how to run a publicly traded company. NONE
https://www.otcmarkets.com/files/OTCQB_Standards.pdf
Halt - De-listing - BANKRUPTCY
https://fintel.io/sfs/us/avrw#10-K
https://www.avenirwellness.com/sec-filings
There still could be a MIRACLE though ?????
The only people who even know about this company are either
dead (like my buddy) or those still holding the RD sucker punch
debt bag. BANKRUPTCY
No one knows - no one cares.
BANKRUPTCY
I HEAR the TOILET about to be FLUSHED !
This is a BOGUS game replay - they did this exact scheme
before. I'd have to go back and dig it up - but the exact same
thing when they couldn't get the numbers straight. This time,
it is probably to give just a bit more time before... and... an
excuse to declare "insolvency" before Bankruptcy.
Who knows for sure - but it sure does look suspicious to me.
There probably won't be any 10K filed until after this "little mess" they have
created as a deflection is cleared up. By then - delisting - bankruptcy.
Oh boy - here we go AGAIN - what a whopper...... 8K
the Company will restate certain of its previously issued financial statements
Delisting after SEC reads this BS - Halt - Bankruptcy[color=red][/color] ????
I doubt the SEC (at this point) is going to buy the "EPS" explanation for being late in filing
current reports - and - see it more as an excuse/deflection on current financial status.
Mistake or Excuse - problem being - so damn many of them. (Shady RD)
8K filing - Company has to restate back 2 years
And... you are going to BELIEVE a CEO
who happens to be in bed with the Chairman
of the Board who left her holding the IONIC debt bag?
Come on now, you have to smell some stink in all of
the shady dealings that have gone on.. and besides
that... you just posted this as part of your POST.
We look forward to keeping our shareholders informed
of our progress, developments and milestones as we move forward.
CRICKETS....
and a 10K that wasn't even filed within the extension period.
Something's not quite right with this company especially when one
considers the company is being kept open by a LOC on ND's "credit card" Wow.
Even a BLIND man can see this troubling scenario.
BANKRUPTCY or MIRACLE ???
Just making stuff up as usual. Hell, one has to guess and make
things up - that's probably why the 10K is way past due - because
the company is trying to come up with numbers and a bullshit story
that is "somewhat" acceptable to the SEC.
BANKRUPTCY or MIRACLE ??
Should be any day now. Buyer Beware
https://www.otcmarkets.com/files/OTCQB_Standards.pdf
Halt - Delisting - BANKRUPTCY
https://fintel.io/sfs/us/avrw#10-K
https://www.avenirwellness.com/sec-filings
There still could be a MIRACLE though.
10K 24 days past due - Another delisting coming?
Halt - Delisting - Bankruptcy
https://fintel.io/sfs/us/avrw#10-K
https://www.avenirwellness.com/sec-filings
THE 10K IS OUT - NOPE JUST KIDDING - BAD JOKE, JUST LIKE THE COMPANY
3 Weeks now past the due date. Imagine that. It takes a lot of work to fabricate some
numbers that won't be too far fetched to be called out by the SEC and will keep the
current shareholder's from fleeing in droves before the delisting and then the ultimate
BANKRUPTCY.
https://fintel.io/sfs/us/avrw#10-K
https://www.avenirwellness.com/sec-filings
POTENTIAL BUYER BEWARE - READ THE POSTS
AND DEFINITELY LOOK AT THE DAILY VOLUMES.
THE TECHNICAL'S COULD LOOK GOOD ON PAPER
BUT OVERALL - THIS BARELY EVEN TRADES BECAUSE
IT IS ABOUT TO BE FLUSHED DOWN THE TOILET.
No "Investor" would buy this POS right now.
The whopping 3640 shares traded today were either from those already
gambling here - or new gambler's. This is NOT an "investor's" stock.
This is a HUGE gamble. They can't even file on time. They know little
to NOTHING about the markets and basically were reverse merged into
Cure Pharmaceutical by way of the Chairman of the Board making a
HUGE mistake with IONIC and the debt (which is in DEFAULT) and then
of course (working with an offshore company) to buy back some patents
and the manufacturing facility.... and leaving Nancy Duitch/shareholder's
holding a big bag of shit along with the DEFAULTED debt and subsequent
lawsuit
I don't know how ANYONE could think ANY of this is going to turn out to be a
spectacular 2024 for the company which is on LIFE SUPPORT from the CEO's
credit card.
BANKRUPTCY or MIRACLE - I'm saying BANKRUPTCY.
Avenir Wellness Name Change - ND, LLC
This company isn't even close to being an "officially traded company" anymore. It will probably become Nancy Duitch LLC after the bankruptcy and it can't be traded anymore. When a company can't issue more shares - or - even get a loan through a financial institution and has to depend upon the founder's credit card
...
Oh well - BANKRUPTCY or MIRACLE.
AND THE LAWSUIT BEHIND THAT DEBT
When there is tremendous debt with enormous interest
as well - tied to a lawsuit about such debt - you are
correct - no lending institution will allow loaning out money
per policy.
Besides that, I believe I saw a fairly LARGE chunk owed
to accounts payable - which I doubt has been cleared up
when the company is operating off the CEO's credit card
which she herself is charging the company 12% interest.
How nice of her - but then again - without that, they would
have gone BANKRUPT already.
10K 10K 10K
I also am very sorry to hear that JP. This company will indeed be heading for
a class action lawsuit. The BOD's and ALL management need to be held accountable.
This damn thing is trading at less than 2 freaking cents pre-split and heading lower.
What a damn shame - this was robbery.
Again so so sorry JP.
You "FORGOT" this official news - DEBT
The company has so much debt, they can't get any credit, like a healthy
company does. This Line of Credit is probably gone by this point at approx.
$40K per month burn rate. A company being run off the CEO's credit card.
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.
https://app.quotemedia.com/data/downloadFiling?webmasterId=102691&ref=317982190&type=HTML&symbol=AVRW&cdn=a1ea3d8a58c485a9a9312963fb53c353&companyName=Avenir+Wellness+Solutions+Inc&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2024-01-12
A OTCQB HALT then back to the Grey market
Which really doesn't matter too much since this
POS barely trades at all anyhow. 100 shares today.
BANKRUPTCY is imminent unless a miracle happens.
THEY ARE WORKING HARD TOWARD BANKRUPTCY
Really hard.
BANKRUPTCY or MIRACLE ??
Oh where oh where has the 10K gone.....
oh where oh where can it be ?
https://www.avenirwellness.com/sec-filings
https://fintel.io/sfs/us/avrw#10-K
Let's see if it makes it before midnight.... maybe they are
up and working their asses off in Brisbane right now to get
the filing done before midnight USA time - who knows......
AS OF RIGHT NOW 8:55pm US time - NADA
POS company, POS management, POS Chairman of the Board
BANKRUPTCY or MIRACLE ????
It's already 9:30pm in Brisbane - I wonder who/where the report
is or isn't being prepared. https://www.timeanddate.com/worldclock/australia/brisbane
10K - to be or not to be - that is the question
So far, it is not to be: https://fintel.io/sfs/us/avrw#10-K
BANKRUPTCY - or - MIRACLE
Wait til the dilution hits - which should be any time.
They weren't too smart with the 1 for 200 reverse split taking
the share count too low - (but they had the plan to dilute in mind)
and got the SEC call out. This is going to be in the pennies again
soon enough - total shit management - unreal they are still at the helm.
This price is below 2 cents per share at the moment pre-reverse split.
This company is on it's last leg.
Sounds like something a CEO who is keeping her company alive
off of here own Line of Credit on a "Credit Card" would say to keep
shareholder's updated - it's really quite "fantastical" (fantasy like)
expectations. 🤣
BANKRUPTCY or MIRACLE