Who are you known as?
BioCann Sciences

Tell us a bit about who you are and the people you reach
We provide high end quality hemp derived CBD products. The products provide a variety of medicinal benefits for people suffering from a variety of ailments.

What industry do you think your business is most related to?
Medical & Pharmaceutical

Other notes
We want to portray a high end brand. We like simplicity, clean and simple. Think biology, nutraceuticals, health and wellness, vitamins and supplements that enhance peoples well being, but a science driven company that provides products that get real results.

Sir,
OTC Markets Compliance formally approved the GNCP Financial Reports & Disclosure Statements an hour ago. This followed their review and our complying with their additional information requests.

Sir,

The Preferred Stock is NOT eligible to be converted for ONE YEAR from Issuance.

OBVIOUSLY no Preferred Stockholder is going to (or has) converted much stock as it would flood the market, increase the “float” and be highly prejudicial to their personal financial returns!

SERIES B:-

Each share of Series B Convertible Preferred Stock shall be convertible, at the option of the holder thereof, at any time after 1 (One) one year after the date such share was issued (subject to the limitations set forth in Section 6.c below), and without the payment of additional consideration by the holder thereof, into such number of fully-paid and non-assessable shares of Common Stock as is determined by dividing the Stated Value per share, by the Series B Preferred Convertible Stock, Conversion Price in effect at the time of conversion.

The “Series B Conversion Price” shall be Fifty Percent (50%) of the average trading price for the 5 (Five) consecutive trading days next preceding the date of the notice of conversion as reported on OTCMarkets.com or such other United States trading market or stock exchange as shall then be the primary market (by volume) for the Corporation’s shares of common stock; provided, however, that the Series B Conversion Price, and the rate at which shares of Series B Convertible Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided in Section 7 below. Shares of Series B Convertible Preferred Stock converted into shares of Common Stock in accordance with the terms hereof shall be canceled and shall not be reissued.

SERIES X:-

Each share of Series X Convertible Preferred Stock shall be convertible, at the option of the holder thereof, at any time after 1 (One) one year after the date such share was issued and without the payment of additional consideration by the holder thereof, into such number of fully-paid and non-assessable shares of Common Stock as is determined by dividing the Stated Value per share, by the Series X Preferred Convertible Stock, Conversion Price in effect at the time of conversion.

The “Series X Conversion Price” shall be 85% (Eighty five percent) of the average trading price for the 5 (Five) consecutive trading days next preceding the date of the notice of conversion as reported on OTCMarkets.com or such other United States trading market or stock exchange as shall then be the primary market (by volume) for the Corporation’s shares of common stock; provided, however, that the Series X Conversion Price, and the rate at which shares of Series X Convertible Preferred Stock may be converted into shares of Common Stock. Shares of Series X Convertible Preferred Stock converted into shares of Common Stock in accordance with the terms hereof shall be canceled and shall not be reissued.

I hope this clarifies this for you. Please do not hesitate to contact me should you require further information.

Sir,

The Preferred Stock is NOT eligible to be converted for ONE YEAR from Issuance.

OBVIOUSLY no Preferred Stockholder is going to (or has) converted much stock as it would flood the market, increase the “float” and be highly prejudicial to their personal financial returns!

SERIES B:-

Each share of Series B Convertible Preferred Stock shall be convertible, at the option of the holder thereof, at any time after 1 (One) one year after the date such share was issued (subject to the limitations set forth in Section 6.c below), and without the payment of additional consideration by the holder thereof, into such number of fully-paid and non-assessable shares of Common Stock as is determined by dividing the Stated Value per share, by the Series B Preferred Convertible Stock, Conversion Price in effect at the time of conversion.

The “Series B Conversion Price” shall be Fifty Percent (50%) of the average trading price for the 5 (Five) consecutive trading days next preceding the date of the notice of conversion as reported on OTCMarkets.com or such other United States trading market or stock exchange as shall then be the primary market (by volume) for the Corporation’s shares of common stock; provided, however, that the Series B Conversion Price, and the rate at which shares of Series B Convertible Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided in Section 7 below. Shares of Series B Convertible Preferred Stock converted into shares of Common Stock in accordance with the terms hereof shall be canceled and shall not be reissued.

SERIES X:-

Each share of Series X Convertible Preferred Stock shall be convertible, at the option of the holder thereof, at any time after 1 (One) one year after the date such share was issued and without the payment of additional consideration by the holder thereof, into such number of fully-paid and non-assessable shares of Common Stock as is determined by dividing the Stated Value per share, by the Series X Preferred Convertible Stock, Conversion Price in effect at the time of conversion.

The “Series X Conversion Price” shall be 85% (Eighty five percent) of the average trading price for the 5 (Five) consecutive trading days next preceding the date of the notice of conversion as reported on OTCMarkets.com or such other United States trading market or stock exchange as shall then be the primary market (by volume) for the Corporation’s shares of common stock; provided, however, that the Series X Conversion Price, and the rate at which shares of Series X Convertible Preferred Stock may be converted into shares of Common Stock. Shares of Series X Convertible Preferred Stock converted into shares of Common Stock in accordance with the terms hereof shall be canceled and shall not be reissued.

I hope this clarifies this for you. Please do not hesitate to contact me should you require further information.

The Company has elected to fairly aggressively add to its interests in the Cannabis and related Sectors. This will include outright purchases of companies, acquisition of minority interests, Joint Ventures, Licensing Agreements and Service provision.

We are particularly interested in value added products and services in both the Cannabis and Hemp Sectors. This includes products in the beauty, health, wellness, pets and the delivery of value added cannabis products direct to consumers. Retailers' shelf space for these products is expanding rapidly due to strong consumer interest and increasing market demand.

Hemp based products are an important area for our growth and we are seeking opportunities in that area. Naturally any such transactions will need to meet industry standards for quality and comply with all of the legal requirements for products containing hemp pursuant to the U.S. Farm Bill and other applicable regulations.

Two M & A Consultants have been retained to seek out suitable targets and to negotiate with the vendors of businesses currently being offered for sale and that meet our criteria; namely their being well established, profitable and cash flow positive. A number of targets have been identified in the USA and in Canada and negotiations are ongoing. The Company will be in a position to access certain amounts of CASH on an ongoing basis to facilitate the outright purchases of the companies targeted and for CASH.

The Consultants have indicated that they are reasonably confident that an initial four outright acquisitions could be consummated during next month.

We are exploring various options to acquire licensed retail operations with physical store locations and e-Commerce capabilities. This we would do gradually, if at all; due to the complexities of managing retail stores.

If successful in these acquisitions, we will be establishing an appropriate infrastructure in order to oversee and to properly manage all operational companies acquired, this to include a dedicated Management Team reporting to the Directors. We will then be in a position to commence with the provision and continual updating of guidance pertaining to our Revenues, Earnings per share, Trading conditions, etc.

All transactions will be effected through new wholly owned subsidiary companies of GNCC.

Sir,

I refer to you to SIGNED and filed Agreements,. This is bizarre. I will reach out to them now.

Ron Lowenthal

Sir,
GNCC Capital, Inc. Counsel earlier indicated that the LATEST filing of his Attorneys Letter is now Wednesday, he had to include March 31, 2019 Quarterly filed yesterday; in his Report.
PLEASE remember that OTC Markets Compliance reviews these Quarterly and Annual Reports PRIOR to moving the Company to “CURRENT”.
Best we err on the side of caution in committing to specific dates.

Sir,
 
You may rest assured that we are working non-stop to complete all of these Filings. I will NOT BE HELD TO DATES; and NO, that does NOT mean that we will miss our guided dates either.
 
We are ensuring that they are 100% accurate and that each one fully complies with all the new OTC Market requirements. Under no circumstances will we compromise on our extensive explanations, etc. as do so many other OTC Market quoted Companies.
 
Historically our Quarterly and Annual Reports ran to circa 350 pages each; we are “cutting out” unnecessary and meaningless data but nevertheless, each of these Reports are currently running at around circa 262 pages each. And that is a total of 14 Reports.
 
It is an understatement to say that is a lot of work.
 
To summarize, we will not take short cuts, abbreviate nor lower our disclosure standards whatsoever. We decided rather (if necessary) take an extra business day or two; but be right and furnish our shareholders and investors will full and accurate disclosure in enormous depth complete with very detailed notes.
 
P.S. Truthfully, the FIRST Filing being the Year Ended September 30, 2015, serves as the “Template” for all of the subsequent Filings as it details all transactions from October 1, 2013 to April 30, 2019 (That is an awful lot of disclosure and accompanying notes for a period of nearly 6 years). The subsequent Filings will contain that same data. That puts us in 100% compliance and very much within in the spirit of the revised OTC Markets Disclosure Rules.

Yes, I obviously anticipate a lot of further Press Releases, transactions, etc. Our SOLE concern is to complete and upload all of the outstanding Quarterly and Annual Reports. We have a lot waiting our consummation and due diligence reviews.

Kind Regards,
 
Ron Lowenthal

GNCC Capital, Inc.
@gncccapital
10m10 minutes ago

GNCC Capital, Inc. (OTC: GNCP) confirms subsequent event filings and the Quarter Ended March 31, 2019 filed on Sunday May 19, 2019 as promised to shareholders. Attorney Letter required to be PINK CURRENT was promised by Monday May 20, 2019 by the Company's Counsel of record.

Sir,
Material events are filed on the OTCIQ system of the OTC Markets. A Press Release is not required.

Sir,
No, a Press Release in the Regulatory Filings is not required.
Thanks for your kind words, it has been a long road that we have travelled!