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ProGreen acquired the Cielo Mar land for ProGreen with Contel as part of the Procon JV, for "pennies on the dollar," and ProGreen owns 51% of Procon, so ProGreen sees 51% of value and proceeds. I previously guessed that we might be paying $1.44M for this land but, as it turns out, we paid $500K. But this has NOTHING to do with the actual value - of just the raw land, I mean, before any value is add from plans and of course future profits. With 51% ownership, we just added 51% x $15.848M = $8.08M in value to the business.
Now we have all this and lots being sold....
Another 5 million added to the value
Basis for LAND ASSET VALUE
We are looking at 2024 hectares (5000 acres), including 4.7 miles directly on the ocean (oceanfront). This 4.7 miles is ALL premium oceanfront, ALL with a view of the ocean and right on it, and much of the rest has direct views of the ocean from higher elevations - so, in MY mind, this is nearly ALL premium land. And it's in the perfect spot in a bay, the Bay of El Rosario, directly across from 2 little islands. A perfect location for the view, for fishing and watersports, for a marina, for whale watching and more!
We should be trading 10x higher than todays basement prices
Valuation JUST for the RAW oceanfront land recently acquired is calculated below based on a direct comparison to land in the area. It shows the value contributed to the PGUS pps equal to today's price - ALL BY ITSELF. And that's with no plan for use.
Add the plan for use - Cielo Mar - and that value goes up significantly. Add a first market offer for the Cielo Mar development and it's much higher still!
And in a few short months - before the end of this year, it goes up 10-fold from there with the master plan completed.
And now add the Ag business, which has high margins, the market is growing significantly every year and simply will not stop due to the increasing demand for produce in the U.S.... and the enormous amount of land we have for growth - and the fact that it is already being established with a $1.2M contract (with expected 55-60% profit margin).
Very much undervalued... high potential for gains such that you can hold a large position with very low risk...
Calcs and results are below, but refer to my much earlier post about this for more details and additional land "comps":
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127900999 (post #32289)
Oceanfront Land - valuation in PPS (THIS IS NOT THE VALUATION FOR PGUS, JUST THE ADDITION TO THE VALUATION - see further below for the basis)
LAND ASSET VALUE UPON CLOSING (resale/market value), CONSERVATIVE ESTIMATE: $7.2M (ProGreen's portion)
CONTRIBUTION TO VALUATION = $8.08M / 350M (shares O/S) = $0.0231 pps
LAND ASSET VALUE UPON COMPLETION OF THE INITIAL MASTER PLAN DRAWINGS (PROPERTY OUTLINE, IMAGES, WHATEVER IS NEEDED FOR A MARKET OFFER OF RESERVATIONS OR ANYTHING) & INITIAL MARKET OFFERING: (10% x $921M) / 2 = $46M (ProGreen's portion)
CONTRIBUTION TO VALUATION = $46M / 350M (shares O/S) = $0.1314 pps
LAND ASSET VALUE UPON COMPLETION OF DETAILED MASTER PLAN AND PERMITS ISSUED: $921M / 2 = $460M (ProGreen's portion)
CONTRIBUTION TO VALUATION = $460M / 350M (shares O/S) = $1.314 pps
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=129691527
True, but Jan keeps moving forward and the stock will soon be much higher...
This first $1.1M+ chili pepper contract on 100 acres for Agricola Consuela, a direct exporter/importer to the U.S., establishes Contel as a producer in a $12 billion market for imports of fruit and vegetables to the U.S. from Mexico. With an estimated 4,000 - 5,000 acres of farmable land available, Contel has set goals for rapid expansion of the farming operation, with a planned increase of 300% in 2018.
Looking thin just gotta get the word out a few slaps and its breaks .03
PGUS
Cielo Mar Topography Reveals Beneficial Features, Master Plan Underway, First Lot Reservations
BLOOMFIELD TOWNSHIP, MI -- May 04, 2017 -- InvestorsHub NewsWire -- ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), http://www.ProGreenUS.com @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon), https://www.CieloMarBaja.com.
Procon is the developer of Cielo Mar, a 5,000 acre oceanfront residential/resort project in Baja California.
With architects now actively working on the Cielo Mar master plan, Procon is pleased to communicate that the first offer for reservations of residential lots (total 30) - opened on April 11 - has achieved stronger than expected results at this early stage. As of today, the company has executed reservations agreements for 16 lots, representing a gross sales value of $1,180,000. Five oceanfront lot reservations also include commitments for early building, representing an additional value of $1,500,000 (assuming 3,000 sq.ft. homes). With over half of the 30 lots now reserved, this first offer may already be closed within the month of May.
The topographical plans of the Cielo Mar site have been completed and are now posted on the developments website. These maps illustrate a terrain gradually ascending to an elevation of 250 ft within a mile of the shoreline, continuing to a high point of 900 ft. This provides for spectacular ocean views from a large portion of the development. In addition, the topography revealed a natural land cutout that could be suitable for building a more natural, inland marina.
Preliminary plans for the first execution phase include the marina, one of three planned golf courses, upwards of 1,500 single family home sites, as well as hotels, condominiums, sports facilities, bars, restaurants, shops and other amenities.
Further details regarding the Cielo Mar development can be found at https://[url]www.CieloMarBaja.com.
[/url]
That would be yes
As of today, the company has executed reservations agreements for 16 lots, representing a gross sales value of $1,180,000. Five oceanfront lot reservations also include commitments for early building, representing an additional value of $1,500,000 (assuming 3,000 sq.ft. homes).
That's the key break here .0226 will confirm the uptrend and then it's on, I do believe that when it breaks and runs then IR will be a thing that may need to be looked into further not only for the SP but also for marketing of Cielo Mar...
When this breakout occurs more will see PGUS and its true potential and continue the trend this break will also bring in some more flippers that have the great potential to become solid longs after doing there DD...
Locking up more shares into long hands is the key here price will follow and we will continue going up...
Jan will then gain access to the ability to ramp up the business even faster then, institutions will start to take notice and boom we will trade at much higher levels than we are now...
At that time many will look back and say damn I had a chance to grab a bargain basement price on a solid long-term investment sit back and watch it grow into millions...
Other will say I'm glad I loaded but Man I wish I could of afforded more...
Some will say well I maxed out on how many I could have so i’m pleased with the way the CEO did things the right way and audited fins to up-list to the QB after reducing the AS....
Remember Apple once traded at 30 cents…
That's the great part about this board people have different views and thoughts on how things progress or should progress and we are able to have a good debate about it and still agree with or without an IR here...
Jan is the Man with the plan and he is Executing it without question....PGUS will trade at 10x -20x current share prices in the very near future...
Its Coming.... PGUS
Anytime man getting the right information to the right investors is how true longs are made... Any other questions feel free to ask this board is filled with dedicated longs who will assist in any way they can...
PGUS
This is great news....
This first $1.1M+ chili pepper contract on 100 acres for Agricola Consuela, a direct exporter/importer to the U.S., establishes Contel as a producer in a $12 billion market for imports of fruit and vegetables to the U.S. from Mexico. With an estimated 4,000 - 5,000 acres of farmable land available, Contel has set goals for rapid expansion of the farming operation, with a planned increase of 300% in 2018.
PGUS JUST GETTINE STARTING ITS COMING....
A solid investor once they do their DD..finds that PGUS is a GREAT investment. After doing their DD they lock up their shares. Bigger investors and institutions with deeper pockets will soon complete their DD and start locking up their shares in much larger quantities. These bargain basement prices will be gone in a blink of a eye. PGUS LONG
Agreed, flipper mentally is starting to show a little bit more. This is clearly a real bargain basement opportunity.. I myself have continued to load what I can afford along with getting family members, friends, and as well as coworkers to grab shares as money allows. Others I recommend PGUS for the pure POTENTIAL of this investment. Just taking into count what's been addressed here today, I would rather see the money go into growing the operation, expanding the farm and increasing production. Versus being spent on a slimy OTC IR firm. I have seen what they are capable of doing to OTC investments producing millions in revenue. It wasnt pretty... however all of this aside, what do you think would happen to the share price if every long investor in here had the ability to pick up 50k shares a piece on the same day??? PGUS
PGUS
This is the penny stock market, after all. It's what gives us the opportunity to buy into fantastic values at bargain basement prices. As more and more investors find out about ProGreen/PGUS, the price trend will only continue to correct toward a proper market cap. We all know PGUS is way undervalued, but it takes time and the stock is only up 300% over the past year.
I understand that those who are max'd out would be real happy to see the price correct in a matter of days, but those of us who don't own 5% of the O/S aren't going to complain a whole lot if we're able to keep buying at steep discounts for a while longer.
I for one am very proud of the fact that we have a CEO, that will buy up shares on the open market, Invest 100's of thousands of dollars out of his own pocket to grow the company. And refused to use some scam OTC penny stocks IR group to PUMP the company.
PGUS LONG
This is the penny stock market, after all. It's what gives us the opportunity to buy into fantastic values at bargain basement prices. As more and more investors find out about ProGreen/PGUS, the price trend will only continue to correct toward a proper market cap. We all know PGUS is way undervalued, but it takes time and the stock is only up 300% over the past year.
I understand that those who are max'd out would be real happy to see the price correct in a matter of days, but those of us who don't own 5% of the O/S aren't going to complain a whole lot if we're able to keep buying at steep discounts for a while longer.
I for one am very proud of the fact that we have a CEO, that will buy up shares on the open market, Invest 100's of thousands of dollars out of his own pocket to grow the company. And refused to use some scam OTC penny stocks IR group to PUMP the company.
PGUS LONG
PGUS NEWS OUT TODAY!
Contel Enters Multi-Billion Dollar US Produce Market
BLOOMFIELD TOWNSHIP, MI--(Marketwired - May 5, 2017) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon), www.CieloMarBaja.com.
ProGreen is pleased to announce that Contel has now completed the planting of approximately 1.4 million chili pepper seedlings on 60 of the 100 acres at Arenoso, the first ProGreen Farm, south of El Rosario, Baja California, Mexico. Additional seedlings will be planted on the remaining 40 acres over the coming weeks in order to stagger the harvest for operational efficiency.
The plants, currently about 8 inches in height, will be ready for the first cut of the harvest beginning in July.
This first $1.1M+ chili pepper contract on 100 acres for Agricola Consuela, a direct exporter/importer to the U.S., establishes Contel as a producer in a $12 billion market for imports of fruit and vegetables to the U.S. from Mexico. With an estimated 4,000 - 5,000 acres of farmable land available, Contel has set goals for rapid expansion of the farming operation, with a planned increase of 300% in 2018.
From the Office of the United States Trade Representative:
U.S. imports of fresh and processed fruit & vegetables from Mexico totaled $12 billion in 2016, including fresh vegetables ($5.6 billion), other fresh fruit ($4.9 billion), and processed fruit & vegetables ($1.5 billion). (source: https://ustr.gov/countries-regions/americas/mexico)
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, is engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican subsidiary Procon Baja JV (Procon). Contel is now active in the high margin produce industry, growing crops for exporters to the US market, with an abundance of land available for expansion under our JV partnership. Procon has recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of El Rosario, for which a master plan is being drawn for the development of a very large, totally green, international vacation and retirement community called "Cielo Mar."
Independent Stock Message Forum:
This press release might contain information, which may constitute 'forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.
ProGreen US, Inc.
Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
News out today!
Contel Enters Multi-Billion Dollar US Produce Market
BLOOMFIELD TOWNSHIP, MI--(Marketwired - May 5, 2017) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon), www.CieloMarBaja.com.
ProGreen is pleased to announce that Contel has now completed the planting of approximately 1.4 million chili pepper seedlings on 60 of the 100 acres at Arenoso, the first ProGreen Farm, south of El Rosario, Baja California, Mexico. Additional seedlings will be planted on the remaining 40 acres over the coming weeks in order to stagger the harvest for operational efficiency.
The plants, currently about 8 inches in height, will be ready for the first cut of the harvest beginning in July.
This first $1.1M+ chili pepper contract on 100 acres for Agricola Consuela, a direct exporter/importer to the U.S., establishes Contel as a producer in a $12 billion market for imports of fruit and vegetables to the U.S. from Mexico. With an estimated 4,000 - 5,000 acres of farmable land available, Contel has set goals for rapid expansion of the farming operation, with a planned increase of 300% in 2018.
From the Office of the United States Trade Representative:
U.S. imports of fresh and processed fruit & vegetables from Mexico totaled $12 billion in 2016, including fresh vegetables ($5.6 billion), other fresh fruit ($4.9 billion), and processed fruit & vegetables ($1.5 billion). (source: https://ustr.gov/countries-regions/americas/mexico)
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, is engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican subsidiary Procon Baja JV (Procon). Contel is now active in the high margin produce industry, growing crops for exporters to the US market, with an abundance of land available for expansion under our JV partnership. Procon has recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of El Rosario, for which a master plan is being drawn for the development of a very large, totally green, international vacation and retirement community called "Cielo Mar."
Independent Stock Message Forum:
This press release might contain information, which may constitute 'forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.
ProGreen US, Inc.
Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
PGUS LONG ITS COMING
Cielo Mar Topography Reveals Beneficial Features, Master Plan Underway, First Lot Reservations
BLOOMFIELD TOWNSHIP, MI -- May 04, 2017 -- InvestorsHub NewsWire -- ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), http://www.ProGreenUS.com @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon), https://www.CieloMarBaja.com.
Procon is the developer of Cielo Mar, a 5,000 acre oceanfront residential/resort project in Baja California.
With architects now actively working on the Cielo Mar master plan, Procon is pleased to communicate that the first offer for reservations of residential lots (total 30) - opened on April 11 - has achieved stronger than expected results at this early stage. As of today, the company has executed reservations agreements for 16 lots, representing a gross sales value of $1,180,000. Five oceanfront lot reservations also include commitments for early building, representing an additional value of $1,500,000 (assuming 3,000 sq.ft. homes). With over half of the 30 lots now reserved, this first offer may already be closed within the month of May.
The topographical plans of the Cielo Mar site have been completed and are now posted on the developments website. These maps illustrate a terrain gradually ascending to an elevation of 250 ft within a mile of the shoreline, continuing to a high point of 900 ft. This provides for spectacular ocean views from a large portion of the development. In addition, the topography revealed a natural land cutout that could be suitable for building a more natural, inland marina.
Preliminary plans for the first execution phase include the marina, one of three planned golf courses, upwards of 1,500 single family home sites, as well as hotels, condominiums, sports facilities, bars, restaurants, shops and other amenities.
Further details regarding the Cielo Mar development can be found at https://www.CieloMarBaja.com.
This should help you out some any more info needed can be found on the websites.
Contel Completes Operational Development of First ProGreen Farm
BLOOMFIELD HILLS, MI--(NewMediaWire - May 1, 2017) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon).
Progreen is pleased to announce that Contel has completed the operational development of the first ProGreen Farm, and we are now actively growing chili peppers destined for the US market.
Contel obtained a $1.1M+ (USD) contract with a major exporter to the U.S. for chili peppers to be grown on the first 100 acres, as announced in the press release on January 23, 2017. During the past months, Contel has been very active with development and preparation of the land for the growing operations, with the final step of installing the drip irrigation, which has now been completed.
With the planting process now well underway, we expect to have 60 of the 100 acres completed with 1.4 million chili plants in the ground by the end of the week, and we are looking forward to begin harvesting in July.
(Related photos on the agricultural project page and blog update at ProGreenUS.com.)
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
Cielo Mar Topography Reveals Beneficial Features, Master Plan Underway, First Lot Reservations
BLOOMFIELD TOWNSHIP, MI--(NewMediaWire - May 3, 2017) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon), www.CieloMarBaja.com.
Procon is the developer of Cielo Mar, a 5,000 acre oceanfront residential/resort project in Baja California.
With architects now actively working on the Cielo Mar master plan, Procon is pleased to communicate that the first offer for reservations of residential lots (total 30) -- opened on April 11 -- has achieved stronger than expected results at this early stage. As of today, the company has executed reservations agreements for 16 lots, representing a gross sales value of $1,180,000. Five oceanfront lot reservations also include commitments for early building, representing an additional value of $1,500,000 (assuming 3,000 sq.ft. homes). With over half of the 30 lots now reserved, this first offer may already be closed within the month of May.
The topographical plans of the Cielo Mar site have been completed and are now posted on the development's website. These maps illustrate a terrain gradually ascending to an elevation of 250 ft within a mile of the shoreline, continuing to a high point of 900 ft. This provides for spectacular ocean views from a large portion of the development. In addition, the topography revealed a natural land cutout that could be suitable for building a more natural, inland marina.
Preliminary plans for the first execution phase include the marina, one of three planned golf courses, upwards of 1,500 single family home sites, as well as hotels, condominiums, sports facilities, bars, restaurants, shops and other amenities.
Further details regarding the Cielo Mar development can be found at www.CieloMarBaja.com.
Looking forward to a watching this turn to the upside and breakout into silver...
PGUS
Great post
Much progress has been made over half the first offer lots are now reserved with 5 commits to build bringing in 2.7 million to the company announced in the most recent press release
Pgus
Tomorrow is a new day....
Acts of desperation PGUS
One year later.. were five times your original investment
One year from know probably 10 times todays investment.
PGUS LONG
Welcome back. Glad to have you on board. Jan is still delivering PGUS
Great to see.. hopefully we get more investors coming in PGUS
PGUS Shareholders in mind...
Jan will make sure of it...
ProGreen Gets Further Funding From the CEO
http://www.newmediawire.com/news/progreen-gets-further-funding-from-the-ceo-4247819
"My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally securing this bridge financing," says Jan Telander, President & CEO.
"This additional credit line provides a continued favorable financing arrangement for ProGreen as we execute our business plan, with a ramp up of our activities in Baja California, until a later time that we would see it as an appropriate point to draw from the equity line financing. My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally expanding this bridge financing," says Jan Telander, President & CEO.
Agreed Jan will make sure of it...
ProGreen Gets Further Funding From the CEO
http://www.newmediawire.com/news/progreen-gets-further-funding-from-the-ceo-4247819
"My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally securing this bridge financing," says Jan Telander, President & CEO.
"This additional credit line provides a continued favorable financing arrangement for ProGreen as we execute our business plan, with a ramp up of our activities in Baja California, until a later time that we would see it as an appropriate point to draw from the equity line financing. My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally expanding this bridge financing," says Jan Telander, President & CEO.
PGUS well if you had a big yacht I'm sure there will be room in the marina for it...
Soon sideliners will be chasing paying much higher prices...
ProGreen pay off convertible note in cash...
http://www.newmediawire.com/news/progreen-pays-off-convertible-note-in-cash-4632302
ProGreen negotiates buyback of preferred shares...
http://www.newmediawire.com/news/progreen-negotiates-buyback-of-preferred-shares-4642075
ProGreen reduces AS of common stock...
http://www.newmediawire.com/news/progreen-reduces-authorized-shares-of-common-stock-4315129
CEO CLEARY STATES OVER AND OVER NO DILUTION
The Company has the option as to whether to use this financing, which would only be accessed when favorable for the Company and its stockholders
"We are very pleased to have come to this agreement with AMREFA. If the preferred shares had been converted, it would have resulted in 60,282,621 new shares of common stock being issued. This solution is in keeping with our commitment to avoid any unnecessary dilution of the stock," says Jan Telander, CEO & President.
"This follows our strategy to avoid any dilution of the stock from conversion," says Jan Telander, CEO & President.
As we have made very clear several times before, we have the firm intention to pay off all outstanding notes in cash, in order to avoid any dilution of the stock from conversion
The terms are better for the new notes, as they do not include incentive shares or warrants. Our intention is to pay off all notes in cash, as we did with the Tangiers note in January and the Hopple note earlier this month, in order to avoid conversion.
In response to inquiries in relation to recent bridge financing, we want to confirm our clear intentions to pay off all notes in cash from proceeds resulting from this year's harvest of chili peppers, estimated to $1.1-$1.3 million
Nice pattern
ProGreen pay off convertible note in cash...
http://www.newmediawire.com/news/progreen-pays-off-convertible-note-in-cash-4632302
ProGreen negotiates buyback of preferred shares
http://www.newmediawire.com/news/progreen-negotiates-buyback-of-preferred-shares-4642075
ProGreen reduces AS of common stock
http://www.newmediawire.com/news/progreen-reduces-authorized-shares-of-common-stock-4315129
CEO CLEARY STATES OVER AND OVER NO DILUTION
The Company has the option as to whether to use this financing, which would only be accessed when favorable for the Company and its stockholders
"We are very pleased to have come to this agreement with AMREFA. If the preferred shares had been converted, it would have resulted in 60,282,621 new shares of common stock being issued. This solution is in keeping with our commitment to avoid any unnecessary dilution of the stock," says Jan Telander, CEO & President.
"This follows our strategy to avoid any dilution of the stock from conversion," says Jan Telander, CEO & President.
As we have made very clear several times before, we have the firm intention to pay off all outstanding notes in cash, in order to avoid any dilution of the stock from conversion
The terms are better for the new notes, as they do not include incentive shares or warrants. Our intention is to pay off all notes in cash, as we did with the Tangiers note in January and the Hopple note earlier this month, in order to avoid conversion.
In response to inquiries in relation to recent bridge financing, we want to confirm our clear intentions to pay off all notes in cash from proceeds resulting from this year's harvest of chili peppers, estimated to $1.1-$1.3 million
That's what 1.1 plus million dollars looks like. AWESOME
PGUS
PGUS
No problem anytime.. lots of good information on the website.
www.Progreenus.com
www.cielomarbaja.com