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$0.08 because dilution will come into play. Management looking for more shares.
Just trying to be objective. Been here a long time and the company is blowing everything that doesn't have Experion tied to it. I may need to invest in Morro Bay, not Abattis.
I guess that is the best we could have hoped for.
1). All of them. The current guy, the one before him that only lasted a month or two, Wild Bill. Rene and Jim have been there through all of them and Rene is the absolute worst. Mike is the one who invested in Experion, this new joker gets no credit for this or Northern Vine. If ketchup and hot sauce make me rich, then I'll become a fan. So far I'm not. He issues Official Press Releases for hiring sales staff.
2). What's your point? That was a lot of words you just pasted. Remember, if everything from Official Press Releases came true, I would be retired by now. All I said was Experion is not allowed to sell anything to anyone. And that is true.
3). Have you reviewed the actual LOI with Experion? Are you familiar with all of the conditions tied to it? Do you know the expiration date? How is the DD coming along?
I'll be looking forward to OPR that says Abattis blew the deal and invested in Raybot machines, or gave that money to Rene's company, whatever. I hope it says Abattis still owns 25% or more but I'm betting they don't.
It's another step in the process. Cultivating is one thing and selling is another. In the scenario you described, Experion would have to sell to Northern Vine. This isn't allowed yet, according to HC.
I might be wrong here, but I think they have to grow a batch and get it tested for mold, etc. before selling to patients. This will probably take at least 4 months.
I am definitely curious to see what happens here, but I have no faith in this management team.
They can CULTIVATE. Can't sell. The difference is supreme.
"The transaction is subject to a number of provisions, including the receipt of the approval of Northern Vine and Experion shareholders, regulatory and other requisite approvals, completion of satisfactory due diligence, and the key members of Northern Vine and Experion entering into employment, consulting and non-competition agreements with Abattis"
The OFFICIAL NEWS RELEASE only says there are a "number of conditions".
Why are you misleading everyone and saying there are only 2 conditions to be met?
Until the actual document is posted online, I'm calling bullshit. I'm with SFP.
Ha! Seems the revenue from NV is not slowing down the dilution. Maybe ketchup will pull us out of this downward spiral.
Exactly my point. This PR announces nothing. What is different from the last ketchup announcement...the website?
If they were going to acquire 25% or 19% of an LP, don't you think they would be pumping up their stock?
Sorry, I just don't believe it. They issue PR's to say the expanded their sales team. If something positive was happening they would have issued a PR.
Besides, Abattis is more interested in ketchup and hot sauce.
"The transaction is subject to a number of provisions, including the receipt of the approval of Northern Vine and Experion shareholders, regulatory and other requisite approvals, completion of satisfactory due diligence, and the key members of Northern Vine and Experion entering into employment, consulting and non-competition agreements with Abattis"
It would be funny if they screwed up the one thing that was actually working out. It would make sense Abattis would own around 19%, considering we used to own 25% and SFP mentioned we declined participation in another round of funding.
I did not see the ketchup there this weekend. Did not check hot sauce. Could be regional, or Canadian.
Good thing Vergence has such awesome distribution channels!
Hey guys, we're investing in the ketchup business!
VANCOUVER, BRITISH COLUMBIA / August 11, 2017 / Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE: ATT / OTC: ATTBF) is pleased to announce it has reached a deal with Jonny Hetherington Essentials for major distribution of their products throughout North America and potentially Asia, through its wholly-owned subsidiary, Vergence Visionary Bioceuticals (“Vergence” or “Vergence Naturals”).
The agreement with Jonny Hetherington Essentials, has the potential to bring immediate additional cash flow to Abattis and Vergence. The product line is set for immediate distribution through Vergence’s distribution channels, including an upcoming retail website set to launch in the near future.
The addition of the line is well suited to Vergence’s growing portfolio of natural health products, which the company is distributing both domestically and internationally.
“We are pleased to bring Jonny Hetherington Essentials to the Vergence line of products.” said Robert Abenante, CEO of Abattis and Vergence. “It is a pleasure to work with founders like Jonny and Melissa, who each share the values of Vergence in wanting to create and distribute the highest quality products.”
Launched in 2015, Jonny Hetherington Essentials is an all-natural line of specialty habanero hot sauces and fresh tomato ketchups. The Ketchups and Hot Sauces, which now appear on the shelves of over 70 retailers, have no additives, no preservatives, no thickeners or binders and no added coloring.
Vergence Naturals plans to leverage its domestic sales channels to distribute the Jonny Hetherington Essentials line to big box retail stores. It is also anticipated that the line will play well in its Asian sales channels and bolster its overall national and international retail presence. Vergence Naturals is already moving forward with the line by working with one of its major distributors on a deal that would see Jonny’s products soon available in more major Canadian retail giants.
Mark Mansfield, General Manager of Vergence Naturals, added, “With so many brands on the market, discovering such a unique, quality product that addresses so many of today’s health and dietary concerns is very exciting. A perfect lifestyle brand of natural products, for a healthy life.”
Every product chosen to represent the exacting standards and guidelines of Vergence Naturals has been hand selected and tested by Mansfield, who has more than 20 years’ experience in the field of natural medicine and organics.
I don't know this to be false. I seriously wonder how I was stupid enough to put so much money into this POS, then greedy enough not to sell at $0.25.
Ok, thanks for clarifying it's just incompetence. Glad they get shares in 500k blocks to perform so poorly.
Great work for a company with a CFO and VP of Finance, but no revenue. Only a half dozen errors, we're on the right track!
Bunch of criminals, IMO.
I just respect objective posters more than those who only present one side of the business. This company has promised the world and delivered nothing.
No worries, SFP...this is a new poster who joined the forum a week ago and is only posting about Abattis. Might be the dog for all I know!
It's funny (or sad?) Abattis issues a PR to expand their sales force but nothing to keep us informed about big picture things like this.
Although I don't have proof, a longtime poster who is usually correct mentioned that Abattis blew their chance to acquire 100% of Experion. There were conditions to be met, according to the PR, and Abattis didn't meet them. (I can't prove this statement).
The whole value of Experion is $25M, so 25% of that means $6.25M. With about 170M(?) shares outstanding, this doesn't do much for our share price, maybe $0.036.
12.5M for 25% ???
Good question. My guess is there will be cash paid to Abattis, then management will give themselves a couple million shares as a bonus for having a cash-positive year.
(just my guess, I have no idea)
Yeah...maybe $0.01 and $0.005 if they issue another 100M shares for an AQ!
They've been talking about strategic acquisitions for about 3 years. Don't hold your breath.
I still think it is comically bad management to enter into this agreement with Raybot, bring a Director on board, give away a bunch of shares...and they haven't even played with the machine yet to verify that it can perform as advertised!
And if it does perform and they get lucky enough to score a few customers...THEY TOLD THE WHOLE WORLD HOW CHEAP THEY CAN PRODUCE THE EXTRACTS! How can you expect premium margins when you show all your cards prior to sitting down at the negotiating table?
It's not awesome, it's quite stupid really. I don't get it.
Starting to wonder if Rene finally earned the big boot, and it's him that dumped 700k shares the other day, and another 100k today. Maybe not.
My initial reaction is to roll my eyes, but maybe Rene will finally be out? He's no longer CFO or interim CEO.
Vancouver, BC – June 15, 2017 - Abattis Bioceuticals Corp. (the "Company" or "Abattis") (OTCQB: ATTBF) (CSE: ATT) is pleased to announce the following key additions to our Executive and Management team, Anthony Jackson as Chief Financial Officer (“CFO”), Christina Boddy as Corporate Secretary, John Kaye as head of Corporate Development and Clayton Chessa as head of Operations. All positions will report directly to Robert Abenante, President and CEO of Abattis.
Anthony Jackson is a Chartered Accountant (CPA, CA) with an impressive track record of providing financial consultant and CFO services to various public and private companies. Prior to becoming a founder and principle at BridgeMark Financial Corp, Mr. Jackson worked at Ernst & Young and as a senior analyst with an investment banking firm. Mr. Jackson has led strategic ventures within the cannabis industry and is a welcome addition to Abattis.
Christina Boddy is an experienced corporate governance professional with over ten years' experience acting as Corporate Secretary for public companies listed on the Toronto Stock Exchange, TSX Venture Exchange, and the Canadian Securities Exchange. Ms. Boddy will play the lead role in ensuring regulatory and compliance requirements at Abattis are met.
John Kaye has over 10 years of experience in active business operations as well as significant experience in investment banking and mergers and acquisitions (“M&A”). Mr. Kaye joins Abattis after his time as an M&A associate at Sequoia Mergers & Acquisitions, a sell-side M&A firm in Vancouver. He will lead corporate development efforts for the Company.
Clayton Chessa has been working in the Canadian cannabis industry for nearly 10 years, developing a keen sense for the nuances and specifics of this booming industry. This firsthand experience has given Mr. Chessa the opportunity to transition into consultancy services where he has guided industry operators in areas such as financial and managerial systems and consultation on growing, testing, extracting, distribution and general operations within the sector. Mr. Chessa brings a unique skill set to Abattis and an educated view on the current landscape surrounding the legal cannabis industry in Canada.
"I am very excited to add such talented individuals to our team at Abattis,” said Robert Abenante, President and CEO of Abattis. “With many of our business verticals experiencing rapid expansion, we believe these key additions will ensure growth is managed smoothly throughout the Company and that appropriate policies and procedures are followed so the Company can continue to focus on organic growth, accretive acquisitions and joint-ventures.”
With the recent announcement of the exclusive distribution agreement with Suzhou Raybot Material Tech Corp. (“Raybot”), Abattis is positioning itself to capitalize on the sales of various extracts including THC and CBD, which are growing exponentially versus the sales of dried cannabis. According to an article in Forbes magazine, the sales of just CBD extracts alone will top $ 3 Billion USD by 2021. As licensed producers shift their focus from selling dried cannabis to higher margin extracted products, Abattis’ intends to be a leader in extraction technology and be the lead provider of equipment and services to the cannabis sector. The Company will leverage its testing, formulation, extraction and sales expertise to offer one-stop testing, processing and manufacturing to the entire cannabis market.
WTH are you talking about? I think you're missing the point.
We're not suggesting they announce anything about the design specifics, although they gladly broadcasted their production cost (which is unheard of in my line of work).
What I'm suggesting is they should have already done this behind closed doors before appointing new directors and handing out shares.
I also know how to Copy+Paste, but I was hoping for discussion.
They signed an agreement on 4/20, and just receive the machine 6 weeks later for evaluation. Wouldn't you rather test the machine against it's supposed advantage before handing out shares to a scientist who might not know what they're doing?
On April 20, 2017, Abattis signed an exclusive distribution agreement with Suzhou Raybot Material Tech Corp. (“Raybot”). The agreement allows Abattis to use Raybot’s proprietary extraction technology and to exclusively sell the extraction equipment and services. The Company has now received one of Raybot’s extraction machines at its Northern Vine lab and has commenced testing of the machinery
Does anyone else think it's strange they pump up this Raybot machine and tout their "exclusive distribution rights" , but they've never even tested the dam thing? And isn't the Raybot scientist on the Board of Directors (receiving free $hare$)? Shouldn't they have performed their DD before all of this?
Best post ever on iHub.
I suppose a little turnover in the Board can't be a bad thing, but I'm just not sure why it's necessary to add yet another Board member to the company at this time. It's great to give those other two the boot since they obviously didn't do anything worthwhile, but why is a replacement necessary?
Vancouver, BC – June 7, 2017 - Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE: ATT) (OTCQB: ATTBF) is pleased to announce the appointment of Robert Abenante and Peter Gordon to its Board of Directors.
Mr. Abenante is the President and CEO of Abattis and its subsidiaries. He is a seasoned executive who has served as a board member and executive officer of several public and private companies. Mr. Abenante’s experience spans across several industries, including energy, mining, finance, technology and nutraceuticals in several global public markets. He is a Chartered Professional Accountant (CPA, CA). More information on Mr. Abenante’s background is discussed in the Company’s news release dated April 10, 2017.
Mr. Gordon, who has acted as a consultant for Abattis in the past, has enjoyed a distinguished career, assisting companies in navigating through licensing processes, urban development and resource and commodity rights applications at all levels of government, from municipal to federal. In addition to owning licensed pharmacies, Mr. Gordon has also served as a board member of the Squamish Hospital Foundation and the Guissippe Garibaldi Foundation, and has served as a school board trustee.
“I am very pleased that the Company is able to attract individuals such as Peter Gordon to serve and assist us in realizing our vision and achieving our goals. He can bring a wide range of skills and crucial experience with companies from various sectors to Abattis,” said Mr. Abenante. “I am honored to be serving on the Board of Abattis alongside the other distinguished members, and we will continue to work to drive shareholder value.”
Mr. Abenante and Mr. Gordon replaced Guy Dancosse and Doug Sorocco. Mr. Dancosse and Mr. Sorocco were long serving members of the Board who have moved on to focus more attention on other ventures.
Mr. Abenante comments, “On behalf of the Board and the management of Abattis, I would like to extend our gratitude for the contributions and efforts of Mr. Dancosse and Mr. Sorocco. We wish them the very best with their endeavors. I am pleased that they have agreed to continue on in an advisory capacity, as their valuable contributions continue to be an asset to Abattis.”
At the Company’s AGM held on May 29, 2017, the new slate of directors was elected and Dale Matheson Carr-Hilton Labonte LLP were appointed as auditors for the ensuing year.
Abattis continues to execute on bringing samples to the Northern Vine laboratory for testing. The Company also continues to develop its sales channels for functional foods and nutraceutical products in North America and Asia. Management will update shareholders of key developments in each of the business units of Abattis in the coming weeks.
Where is the "Like" button for this post?
Yeah, probably a few more of Rene's buddies get cushy Director roles and another million shares.
Fully diluted is now over 160M.
Still no revenue as of March 31. No wonder the CFO and Finance Director couldn't get the financials completed on time.
It will probably expedite competition too. Last thing we need is more labs, there are already too many to justify this SP.
Ouch! Names hurt my feelings.
To answer your question: Because you're the guy saying we should post whatever got us to invest. So I did. And you call me names for the reply.
Maybe that is why they call you danger?
Danger is my middle name...yeah baby!
That's a great idea danger - if you can just help me to get PPS to rise 30-40% daily for about a week, I'm sure more people will buy.
I've posted this in the past, but I found it on a weekend and couldn't get my orders filled the next week:
https://seekingalpha.com/instablog/20467391-matthew-finston/2713113-the-hidden-gem-of-the-marijuana-industry
I would like to sell but not this low. Turd stock.
That's my point. Cannabis can be transported. That's all I'm trying to say.