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NEWS this morning.
SOURCE: Easton Pharmaceuticals, Inc.
June 04, 2014 08:48 ET
Easton Pharmaceuticals Announces New Non-Dilutional Financing Source to Be Utilized Towards Its Medical Marijuana Initiative and Acquisitions
TORONTO, ON--(Marketwired - Jun 4, 2014) - Easton Pharmaceuticals Inc. (OTC: EAPH) announces it has located a new source of non-dilutional financing.
As a result of Eastons non refundable deposit towards the closing on its recently announced medical marijuana agreement where Easton maintains an exclusive option to purchase up to 49% of a private Canadian medical marijuana company who has submitted an application for a federal growers license, Easton initiated discussions and received a commitment with a private accredited investor for additional financing to replace its existing source. The new financing option is conditional upon funds being solely used towards the purchase of its 49% option in the private Canadian medical marijuana company once a growers license has been issued. The new financing terms calls for funds being advanced as a convertible debenture loan secured by assets purchased in its exercised option in the medical marijuana company whose name is being kept confidential until its final inspection has been completed. Should Easton choose this financing option it would greatly reduce its dependence on its REG. A financing which was recently filed with the Securities and Exchange Commission and is awaiting any comments. Easton was previously financed $1 Million through regulation S 504 offerings.
Easton has been provided a status update and been notified that the build out of the MMJ facility as per the MMPR application with Health Canada is nearing completion and will soon be able to schedule an inspection which is the last step prior to receiving a federal growers license. The facility is situated on acreage already zoned for agriculture and allows for the expected and planned expansion to accommodate a maximum of 50,000 sq. ft. of growing space. Only 13 growers licenses have thus far been issued nationally from Health Canada. The private MMJ company is currently in possession and is one of what is believed to be only 40 plus companies who have received a letter to build from Health Canada. Recent articles and health Canada estimates put the amount of MMPR applications submitted with health Canada at 843 with 25 new applications being submitted every week. It is believed that only a small portion of these applications will have any real chance of obtaining a letter to build, let alone a growers license. Before a license is issued, producers must demonstrate how they meet extensive personnel security requirements, physical security requirements, record keeping equipment, and quality control requirements.
As per statistics obtained from current producing companies who have been growing and producing under the previous MMAR system, medical users on average consume about 1 to 3 grams daily. The costs to grow marijuana range on average $1.40 per gram which does not include marketing and dispensary costs. These grows are then turned around and on average are sold between $8 to $12 per gram. Some compassion clubs do rarely sell the product as low as $4 per gram, but on average there is a substantial profit margin if costs are well maintained, which is why medical marijuana is being classified and expected to become one of the most profitable and fastest growing industries. In August the State Of California is expected to vote on approving and legalizing medical marijuana to possibly join or vote alongside other states such as Colorado, Illinois, Washington, Arizona, Nevada, NY and several others. The current liberal minority government in Canada has already stated and indicated its willingness to possibly legalize marijuana for recreational use and follow the lead from the State of Colorado should it be voted into power.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors including medical marijuana, that owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues related towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company's gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals' product "VIORRA" is an over-the-counter, topical daily use product and aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a positive effect on women's sexual desire and arousal, FSAD (Female Sexual Arousal Disorder); the world market for these female conditions and the medical marijuana industry is conservatively estimated to be in the billions.
For More Information Visit:
http://www.eastonpharmaceuticalsinc.com
Safe Harbor
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. There are no guarantees or assurances that any proposals, initiatives or negotiations will result in what the company had originally intended. Any investment made into Easton Pharmaceuticals would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
Contact Information
Contact:
Carla Pepe
Easton Pharmaceuticals Inc.
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Email: info@eastonpharmaceuticalsinc.com
With the release of the 10K by MDRM yesterday for the period ending 6/30/13 (interesting) there were some things that were mentioned that tie directly into the PR's that EAPH has put out previously back in March 2014 without naming names. MDRM is still keeping the mystery alive.
This timely release by MDRM is cleaning up a another piece to the journey we are taking. It all seems to be coming together at this time and could be explosive so fasten your seat belts.
Any news from EAPH that comes out and fills in the pieces a little more could be exactly what we are looking for.
GO EAPH
387 messages on the board so far today and probably at least 360 or more of them were worthless repeats. You've still got 3 hours to go group. I'm sure that you can muster up another 113 more worthless messages to make it an even 500 for the day. Go for it. This was also a worthless message but at least it wasn't repeated over and over again.
16 minutes to close. Do we end up green???
Marijuana may also be a cure for overposting over and over again.
Pumping like this is making folks run for the hills and far away from EAPH. Can a rest period be put in place. If it was doing any good we wouldn't be in the red now would we?
Marty15 - Finally something new to read. All this repeatative junk was and is getting old and believe it or not your post could have gotten lost in the mix.
Sergeant Friday use to say - "Just the fact's" but he never said tell me over and over again what I already know.
This is a case where I agree with you 100%. It does get old trying to weed through and then to say "NEWS" like it is new news instead of News from yesterday.
I guess that is all part of pumping but it is rediculas at best. But it's not as bad as posting BS and not backing it up with facts.
Black beats red. Tomorrow is another day.
Sure is interesting how the day is turning out
Sure would have thought we would have heard something about the Pocket Puffer by now. The drawing was supposed to be over May 30th.
RFMK - Care to bring us up to speed?
I'm not sure that the chart can be kept up with.
Bid/Ask already at .0251/.0260 with 42,000 shares showing on the pre-market and 4 minutes to open. Would love to see L2 at open.
Good stuff and thanks - Would love to see this again as we start to climb higher.
10 minutes till open and we are already at .0236/.0240 Bid/Ask
GO EAPH
Obviously the market hasn't opened yet but both companies involved look to be gapping up for the open.
MDRM closed Friday at .156.
NEWS OUT THIS MORNING -
Easton Pharmaceuticals Announces the Closing of Medical Marijuana Agreement With MDRM Group (Canada) Ltd., on Purchasing an Ownership Interest in a Growers License in Canada's Federal Medical Marijuana Industry
TORONTO, ON--(Marketwired - Jun 2, 2014) - Easton Pharmaceuticals Inc. (OTC: EAPH) announces it has signed an agreement to purchase an interest in a pending medical marijuana operation.
After several months of painstaking negotiations with several medical marijuana (MMJ) initiatives and companies in the lucrative MMJ industry in both the United States and Canada, Easton Pharmaceuticals is pleased to announce that it has entered into an agreement with Canadian based MDRM Group (Canada) Ltd., a wholly-owned subsidiary of Modern Mobility Aids, Inc., a Nevada corporation (OTCBB: MDRM). The agreement allows Easton to purchase up to 49% of a private Canadian medical marijuana company which has submitted an application for a federal growers license and has received a letter to build from Health Canada under Canada's new MMPR system.
The agreement provides Easton Pharmaceuticals with an exclusive option to purchase any amount between 10% and 49% of the private medical marijuana company with no funds being advanced until the license has been granted by Health Canada. The private MMJ company has been in receipt of the letter to build from Health Canada for the past several months, has already finalized its build-out of its growing facility and is awaiting a final inspection prior to receiving its growers license. The private medical marijuana company whose name is being kept confidential until its final inspection has been completed, is one of what is believed to be a limited number of companies who have received letters to build from Health Canada, with only 13 companies having thus far received MMPR licenses in Canada. The application and growing facility of the private medical marijuana company is currently for approximately 5,000 sq. ft. of growing space. The facility is situated on acreage already zoned for agriculture and allows for the expected and planned expansion to accommodate a maximum of 50,000 sq. ft. of growing space.
Presently, Easton Pharmaceuticals maintains cash on hand to purchase approximately one-half of its exclusive option with additional commitments from its finance partner for up to another $5 Million in additional financing which would allow Easton to purchase all of its option from MDRM Canada.
This agreement represents the first and potentially the most lucrative medical marijuana agreement that Easton has closed on with other anticipated closing agreements and announcements in the medical marijuana industry. Easton Pharmaceuticals additionally announces it has signed an LOI agreement and has entered into negotiations with UMED Health and Wellness Centers who currently own an operating medical marijuana dispensary in the State of Michigan who maintain approximately 1500 patients. Easton's discussions involve an investment into UMED as well as the opening of new additional dispensaries in the State of Michigan where Easton would potentially maintain a majority ownership in.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors including medical marijuana, that owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues related towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company's gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals' product "VIORRA" is an over-the-counter, topical daily use product and aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a positive effect on women's sexual desire and arousal, FSAD (Female Sexual Arousal Disorder); the world market for these female conditions and the medical marijuana industry is conservatively estimated to be in the billions.
For More Information Visit:
http://www.eastonpharmaceuticalsinc.com
Safe Harbor
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. There are no guarantees or assurances that any proposals, initiatives or negotiations will result in what the company had originally intended. Any investment made into Easton Pharmaceuticals would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
Contact Information
Contact:
Carla Pepe
Easton Pharmaceuticals Inc.
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Email: info@eastonpharmaceuticalsinc.com
Exactly.
I believe that it will become abundantly clear as to why the PR didn't come out Thursday or today when it does in fact come out which I am now thinking will be Monday for some reason.
I think that someone hit it on the head in another post yesterday.
We shall see but I'm glad I'm on the train and not chasing it.
I think you are on to something. Quick buying at the last minute. Now I have to calm down and get through the next couple of days.
This post is starting to make sense.
Too late in the day to put out a PR now and with it being a short week to begin with.
Probably PR won't be out until Monday, June 2, 2014 which kind of makes sense.
Today's Money TV - I just got around to listening to it. Exciting stuff for SING.
EAPH has $586,628 in the bank as of 3/31/14
Strategicinvest - Again thank you.
Here is the current information obtained from the Q1 report dated May 28, 2014 for period ending March 31, 2014. Page 6 near the bottom "Cash & Cash Equivalents - End of Period.
The current correct information is $586,628 and not what is being reported on sticky # 13835. That was for period ending June 30, 2013. You also might note that for the same period Q1 of 2013 they had nothing so even though post # 13835 is currently wrong it was a marked improvement over the previous quarter in 2013.
http://www.otcmarkets.com/financialReportViewer?symbol=EAPH&id=121770
Maddog720
Thanks for the feedback. IH Admin basically told me the same thing when I asked them. Even their hands are tied as long as the individual is a Mod. It's just kind of a shame that some, who are in this position, have different agenda's (for what ever the reason) and can't find the maturity to remove or update and post current facts.
This information, perhaps, was fact at one time but isn't now and that makes a big difference for potential investors who are taking this information as the current truth without doing some DD because a Mod put it up there. I would hope that folks in this position as Mod's would understand this and not let their personal agenda's get in the way. They can post about their dissatisfaction, etc but not sticky post about it.
In the same breath I can understand the frustration of tweet after tweet and PR's not being produced but again when third parties are involved sometimes it takes time to work out the little details. I understand that because I've been in that position. It's frustrating at best and sometimes you just want to take them to the woodshed because your word is being questioned.
Again, thanks and lets hope that the right thing is done today.
EarnestDD - Since you are a Mod and in light of new information provided by the latest Q1 submitted May 28, 2014 would you be so kind as to update the information and remove your sticky # 13835.
This information is no longer accurate. Thank you in advance.
And no tweet either!!!
I think I'm done for the day. If a PR comes out and you think I need to see it right away, have your people call my people but please don't tweet me.
Tomorrow brings a new day of sunshine for the EAPH world.
I'm hearing exactly what you are saying.
Perhaps, because of the complexity of the deal and the details, that is the reason for the delay in releasing the PR.
I've seen things that on the onset don't look all that great and depending on what is said in the PR it could be a good thing after a said period of time. Sometime you have to do things in order to get to another sweet spot.
I use to say that se sold ourselves to the devil in order to get the money necessary to take us to the next level. Once we got there we bought ourselves back. Didn't like the deal in the beginning but it took us to the sweet spot we needed to get to in order to grow quicker.
There has to be otherwise everyone would do it.
I don't really know but I would think that there is some monitary penality. Perhaps like they do here in the states if you don't pay your taxes on time. There's a penality and interest on the outstanding amount owed.
Not much more they can do especially since they accepted the report.
I'm hoping that I break even at some point in time. It's just not worth me taking this kind of bath to jump ship now and waiting until the PR comes out is of little issue in the grand scheme of things at this point.
Not really sure how I feel about Q1 yet. I need to spend some time with it.
Q1 finally issued today May 28, 2014 and can be reviewed in whole at OTC. Took them long enough.
No PR yet.
And I've got to say that unless this is one hum dinger of a PR that needs that kind of kid gloves handling it - it's just sad that nothing has been posted as of yet and here we are at the end of the day. SAD SAD SAD.
Being greedy as I would like to see the PR as soon as possible only because I don't have any dry powder available to pick up any more at this price.
It shouldn't be taking this long to get the PR out especially since it was drafted about 2 weeks ago.
Goodness gracious EAPH.
That's what I thought. This to me means that the PR is more likely to come out sooner than later and I don't think that they are going to wait to June as someone has been alluded to. JMHO
An early morning PR would be great and I would love to see some "shock and awe" action for those that didn't believe. Everything that has been put out there has happened - perhaps not as quickly as some would like but whenever there is a third party involved you are in a different playing field.
Didn't EAPH say previously that something had been drafted already or am I thinking about something else? Once the ink is dry on the agreement it shouldn't take that long to massage it a little to fit. Mosts of these things are boiler plated to begin with except specific details that they might want to disclose.
That's exactly what it would be - a mini speculation run because unless you have EAPH tagged to follow on Twitter no one in the outside world knows about these new developements. And it seems this way as the ask dropped from .0190 to .0182.
Could be a very good chance to pick up some more shares before the PR hits the boards.
Nice.
Can't wait to read the PR now but it surely sounds promissing.
The quest remains - how will the market take to this news this morning without seeing a PR?
It's almost 8:30am and it's as quite as a church mouse.
No tweets and the bid/ask are not reflective of anyone knowing anything in the PR pipeline.
Still have an hour to go for open.
For those who keep saying that tomorrow, Thursday, May 29, 2014 is D-Day please re-read the tweets as it does not say that. They are pushing for a PR tomorrow morning but it clearly state "No More Than A Day or Two". Just the facts.
Easton Pharma ?@EastonPharma
Due To Frustrating Legal Delays On Its Closing Agreement, Management Apologizes For Not Being Able To Release News As Expected For Wednesday
Easton Pharma ?@EastonPharma
However, The Delay Is Expected To Be No More Than A Day or Two. We Are Anticipating And Pushing For A Thursday Morning Positive Announcement
I have a couple of questions.
What is a 1-A/A?
This was filed on 5/23/14 - 3 days after they were supposed to provide information on first quarter.
When they failed to meet the 5/20/14 extention date is this when the "YIELD SIGN" was posted on OTC??
Isn't the quarterly report rather important in the grand scheme of things for this company?
My support level is getting rather thin.
I would have to say no based on the information in the May 13 update of the Pocket Puffer.
The Company anticipates conducting drawings will begin May 26, 2014 and run through May 30, 2014. The results of the drawing will be available at Pocket-Puffer.com. Entries will be accepted until the first units arrive, at which time the drawing will be closed.
They just started taking drawing information yesterday and nothing has been said the the drawings are closed.