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Yes, this can get real exciting, real fast.
Just FYI, Isiah bought $50K in OWPC preferred shares for his children's trust last year:
"On various dates in May, 2021, the Company received total proceeds of $50,010 from the sale of an aggregate of 3,334 shares of Series B Preferred Stock at a price of $15.00 per share to trusts whose beneficiaries are adult children of Isiah L. Thomas III’. Mr. Thomas disclaims beneficial ownership of the shares held by these trusts." (source: 10Q, PE 3/31/2021, filed 5/17/21)
Yes, I noticed that yesterday. Curious.
"The Company’s management believes that these misstatements will have no impact on the Company’s revenues, or Adjusted EBITDA for the 2020, 2021 or 2022 Relevant Periods."
$RXMD Writing is on the wall, I think. We are obviously merging with Nextplat Corp. You can't very well strip a company of their management and then somehow execute any sort of acquisition transaction. I am VERY enthused by all of this. The world is opening up finally for Progressive Care!
We're halfway through the 4th quarter right now. The comments from the Q3 report imply that the extracting equipment is currently in Customs, waiting for completion of whatever inspections in order to clear it for delivery to the new facility (in Q4), for which we have already signed a lease on October 1 (the first day of Q4).
I'm guessing the equipment is currently being installed at the new facility, and we could get word of that even this week... or next... or next... but in any case it does appear that we're going to be hearing very soon, and it seems likely in my mind that shortly after news of the extraction facility being online, we'll also hear about first orders (contracts, commitments that will only be executed with demonstrable ability to deliver: meaning, the extraction facility is operational).
IMO, any effect from the delivery/installation of the extraction equipment not being delivered in Q3 is already reflected in the PPS. We knew it wasn't yet in place when we didn't see an announcement stating such, and Q3 ended 6 weeks ago.
But most shareholders here are not holding for quick flips, anyway. I've been holding for about 2 years now. You can see the PPS is stable, and it's got a ton of support down here in the dirt where it is. The price will move quickly and in big steps with forward progress of planned operations. If anyone wants to sell, they can fill my sizeable orders at 0.0765, 0.072 and 0.071 that have been sitting there for several weeks. Still adding here.
And here it is, from Q3 10Q. If this isn't friendly funding that shows confidence, I don't know what is. A convertible note that converts directly to Preferred shares with no discount. That's another vote of confidence with a loan that MAY be paid back prior to conversion - OR - it converts directly to preferred stock representing a 67% premium over today's closing price!!
"On September 27, 2022, the Company completed the sale of a Convertible Promissory Note in the principal amount of $750,000 (the “Convertible McCabe Note”) to Dr. John McCabe. The unsecured note matures on 16, 2024 (the “Maturity Date”), bears interest at a rate of 8% per annum, and the principal and interest is convertible into shares of the Company’s convertible Series B common stock at a conversion price of $15 per share."
In August 2021, we paid total deposits of $1,155,000 of the approximate total cost of $1,400,000 for the construction of a vertically integrated extraction facility designed to process the cannabis flower. Upon completion of construction, we will be one of the only companies in Colombia to both hold licenses and possess the capability to extract high-quality CBD and THC oils.
We terminated our lease on September 30, 2022, and plan to install the equipment at a new extraction facility when the equipment clears Customs in the fourth quarter of 2022. We entered into a 5-year lease on the new location on October 1, 2022, where we will combine our office and extraction facilities into the same building. The new facility is approximately half the cost of the former, and already contains the necessary electrical and epoxy floors, which will significantly reduce our tenant improvement costs.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001622244/000149315222032039/form10-q.htm
$OWPC 10Q is out -
Oh yeah, I know Flora Growth. I built a position early last year and did well with it, but decided One World is the better investment, for the price growth potential.
I agree with you that "we have the potential to be a bigger operation (than Flora Growth)", except that I will add "the potential to be much, much larger (than Flora)" if the upcoming news cycle points us anywhere near the target. I mean, confirming expected progress with one or more of the primary revenue streams discussed in all of those Isiah Thomas (our CEO) interviews over the past 2 years:
a) CBD, hemp oil & future THC extracts,
b) automotive, building construction & consumer products packaging material supply chain, and
c) carbon credits ("more carbon sequestration than the Amazon Forest").
I put it this way "progress in one or more of the primary revenue streams" because getting a solid start in any one of these product areas leads directly to cascading sales of the full complement of these products.
We have the contacts and connections to quickly launch into a full-scale and then large-scale operation with a perfect storm of 2 virtuous cycles to feed the revenue mill - the first one involving the funding + operational results + growth, and the second relating to the supply chain + customers/buyers + 3 complementary product revenue streams (each with very large market size & growth potential).
Flora is definitely good, still holding a small position that helps me to keep an eye on it. But we have much more potential here for fast and phenomenal pps growth.
$OWPC Again no changes to share structure, zero shares added to outstanding or unrestricted.
https://www.otcmarkets.com/stock/OWPC/security
I really, really like the care with which Isiah has handled the stock for protecting future value here!
As you noted earlier (sello, I think it was you that mentioned this), the $500K that Isiah just added for stock at $0.15/shr, in chunks of $100K/month (starting last month) plus the 2 tranches of $150K from Tysadco for stock at $0.15/shr are likely meant to fund operations and to suffice until imminent news of operations revenue or contracts is released. All of this adds to the $3M Isiah invested last year, also at $0.15/shr. No toxic funding here.
So once again we have capital invested at $0.15/shr by our CEO and an institutional investor, and retail has been sitting on the opportunity to buy at < $0.10/shr.
Once the S1 is effective and we have news/results driving the share price toward $1 I think Isiah will selectively put some tranches out to raise further funds for growth. And then, further developments and news should promote a virtuous cycle of funding/growth and price gains. This is a slow burn, but definitely should be worth the wait. And it looks like we're coming around the bend!
$SIRC That's a nice write-up Televet, thanks for posting! It's just a matter of time now. Q3 results will be a great start for the new better bigger SIRC!
Um, yeah, that's how it works. And this is a problem for you?
Payment upon order placement, clearly written in the contract.
$APSI Nice post, Sterling. Well-written and well-formed valuation projection, thank you.
$RXMD Great news!! Thanks for posting, Cabin$$!
$IDEX This newsletter is a rwally good read, thanks for posting!
We (Alpine 4) own that site and everything about it, including the products, etc. That's a sales portal.
No, no problem with the alpine4.com site or pages. It's a very well designed and implemented and works fine. I can't know whatever problem you're having with getting to the pages.
@m1ocha Alright, we GET it, your 1-day flip trade didn't work out and you sold. So move on already.
Right. And we didn't gap up this morning - with no gap to play they'll have to cover soon to minimize losses.
$ALPP Shorts caught with pants down. Doubling down in effort to avoid the losses, but it just might not work. I think they'll be launching us soon when they have to cover.
Same, still adding as they bring it down.
Chartists playing the gap. This is a loading zone.
$HDUP I'm thinking you're right.
$OWPC Yes, I think this is very significant!
Isiah Thomas
@IsiahThomas
Great day @flexngate with @StellantisNA
#Hemp #carbonreduction
@isiah_internatl @OneWrldProducts
#Jeep #Detroit
8:43 PM · Sep 22, 2022
·Twitter for iPhone
Great day @flexngate with @StellantisNA #Hemp #carbonreduction @isiah_internatl @OneWrldProducts #Jeep #Detroit pic.twitter.com/UlNomkKc6z
— Isiah Thomas (@IsiahThomas) September 23, 2022
$OWPC Flex-N-Gate
Khan worked at the automotive manufacturing company Flex-N-Gate Corporation while attending the University of Illinois. When he graduated he was hired as the engineering director for the company. In 1978, he started Bumper Works, which made car bumpers for customized pickup trucks and body shop repairs.[10] The funds to start the new business included a $50,000 loan from the Small Business Administration and $16,000 of his own savings.[16]
In 1980, he bought Flex-N-Gate from his former employer Charles Gleason Butzow, bringing Bumper Works into the fold. Khan grew the company so that it supplied bumpers for the Big Three automakers. In 1984, he began supplying a small number of bumpers for Toyota pickups. By 1987 it was the sole supplier for Toyota pickups and by 1989 it was the sole supplier for the entire Toyota line in the United States. Adopting The Toyota Way increased company efficiency and ability to change its manufacturing process within a few minutes.[10][17] Since then, the company has grown from $17 million in sales to an estimated $2 billion in 2010 to $8.89 billion in 2020.[18]
By 2019, Flex-N-Gate had 25,000 employees and 69 manufacturing plants in the United States and China, Argentina, Spain, France, Germany, Mexico and Canada.[11] and in 2020 had a revenue of $8.9 billion and was ranked as the 46th largest privately held American company by Forbes.[19] It is also ranked by Automotive News as the 7th largest American automotive parts supplier and overall 33rd largest supplier in the world.
In May 2012, the Occupational Safety and Health Administration fined Flex-N-Gate $57,000 for health violations at its Urbana plant.[20] Before the 2012 NFL Draft, the United Automobile Workers (UAW) and other environmentalist groups organized a campaign for several accusations against Flex-N-Gate and Khan.[21][22]
https://en.wikipedia.org/wiki/Shahid_Khan#Flex-N-Gate
$OWPC Great stuff, thanks for posting!!
$OWPC One World Products Establishes Common Stock Equity Agreement to Support its Growth
https://www.prnewswire.com/news-releases/one-world-products-establishes-common-stock-equity-agreement-to-support-its-growth-301624219.html
One World Products Establishes Common Stock Equity Agreement to Support its Growth
NEWS PROVIDED BY
One World Products, Inc.
Sep 14, 2022, 08:00 ET
New Funding Agreement Valued at up to $10 Million
Company Appoints New Independent Director
#HempIsTheNewPlastic (TM)
LAS VEGAS, Sept. 14, 2022 /PRNewswire/ -- One World Products, Inc. ( OTCQB: OWPC) (the "Company" and "OWP"), the largest Black-controlled, fully-licensed hemp and cannabis producer in Colombia, today announced that it entered into a common stock purchase agreement and registration rights agreement (together, the "Agreements") with an institutional investor for up to $10 million worth of shares issuable over a 36-month period time, based upon the current market price of the stock at the time. Separately, upon entering into the Agreements, the investor made an initial fixed price equity investment of $150,000, which is subject to Rule 144 and a 6-month holding period. The Company also announced the appointment of a new independent director to its Board of Directors, Terry L. Buffalo.
Isiah Thomas, OWP Chairman and CEO, stated, "This investment into One World Products provides substantial upfront capital that will be used to continue to scale our operations in Columbia, enhance industrial sales of hemp products to customers and expand our carbon credits, and it is in common stock equity at a fixed price. Of note, the common stock equity agreement will provide us additional growth capital to increase our sales and is at our control and discretion in regard to the amounts and timing. We believe this financing is not dilutive to current shareholders and enhances our value by increasing our cash and shareholder equity positions over time. It better positions us toward our capital markets' goal for 2023 of an up list to a major U.S. national exchange. At this time, the Company has yet to decide on any recapitalization structure or timing, as our Board and management continue to believe out stock is undervalued."
Mr. Thomas continued, "We are pleased to partner with this institutional investor that clearly values the vision and tremendous growth potential that we see for OWP. We are confident that this capital structure will support our operational cash flow requirements while providing the flexibility to achieve our growth targets. Of extreme importance to us was the faith and enthusiasm of the investor to provide a $150,000 upfront investment at a fixed equity price and our control over the timing and amounts of future equity capital which allows us to take advantage of sudden increases in our stock price."
Following the initial investment, and subject to the conditions of the Agreements, including that a registration statement is filed and declared effective with the Securities and Exchange Commission the Company has the right, in its sole discretion, to sell up to an additional $10 million worth of shares over a 36-month period. The Company will control the timing and amount of any sales to the investor and the investor is obligated to make purchases in accordance with the Agreements.
There are no upper limits to the price per share the investor may pay to purchase common stock and the purchase price of the shares will be discounted per the agreement based on market prices of the Company's shares at the time of each sale. No warrants, derivatives, financial or business covenants are associated with the Agreements.
Additionally, on September 6, 2022, the Board of Directors of the Company appointed Terry L. Buffalo to serve as an Independent Director of the Company to fill the vacancy caused by Mr. Bruce Raben's resignation. Mr. Buffalo, 57, previously served as the Chief Executive Officer, Chief Financial Officer and a director of American Cannabis Company and is the founder and principal of Buffalo Cannabis Advisors. He has extensive executive experience in private and public sector engagements, primarily overseeing the deployment of multi-billion-dollar asset expansions and ensuring SEC compliance for publicly traded companies.
Mr. Thomas added, "We welcome Mr. Buffalo to our Board of Directors. Terry brings more than 25 years of experience in investment and financial advising and specifically seven plus years of extensive Cannabis Industry expertise to our Company. He joins the Board as an Independent Director, and we are excited about the contributions he will undoubtedly make at OWP. We also thank Mr. Raben for his support of our early-stage growth and wish him well as he leaves to pursue other opportunities."
A more detailed description of the Agreements is set forth in One World Products' Current Reports on Form 8-K as filed with the SEC.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.
About One World Products, Inc.
One World Products is the largest Black-controlled, fully licensed hemp and cannabis producer with offices in Las Vegas, Nevada, and offices and operations in Bogota and Popayan, Colombia. One World Products planted its first crop of cannabis in 2018 at its cultivation site in Popayan, Colombia, and began harvesting commercially in the first quarter of 2020.
As an ascendant international hemp and cannabis company focused on environmental, social, and governance (ESG) standards, the recently announced Isiah International/One World Products/AMUNAFRO consortium controls approximately 1.2 million acres of land in Colombia focused on the licensed production of industrial hemp for integration into sustainable, carbon-reducing products made throughout the world. The Company expects to supply its global clients with the highest quality industrial and commercial applications for cannabis, hemp, and hemp products, including derivatives in crude oil, distillate, and isolate forms with industrial-scale production to serve global cannabis and hemp demand. Its products will be produced and tested according to GAP, GMP and ISO standards. For more information, please visit https://oneworldproducts.com/.
About Isiah Thomas and ISIAH International, LLC
Isiah Thomas was inducted into the National Basketball Association (NBA) Hall of Fame in 2000 after spending his entire career with the Detroit Pistons. He was a 12-time NBA All-Star, a two-time NBA champion, the 1990 NBA Finals Most Valuable Player, and named as one of the 50 Greatest Players in NBA History. Today, Mr. Thomas serves as an analyst for NBA TV and is an accomplished and highly respected international business executive and investor. His portfolio of companies was developed through Isiah International, Inc., which invests in companies with strong market positions and growth potential.
Mr. Thomas' business interests include sports and entertainment, real estate, waste management, hemp, cannabis, and a CBD personal products company, among others. In addition, Mr. Thomas has developed a very successful champagne business, Cheurlin Champagnes. He has cultivated excellent relationships with the grower, employees, and the French government. As a result, he now owns the proprietary genetics for the Champagne grapes he produces and has perfected an international import/export system for the global distribution of the product. More information is available at www.isiahinternational.com.
Mr. Thomas previously served on the Chicago Stock Exchange's Board of Governors, was a co-founder of the NBA's Toronto Raptors, Popcorn Indiana, and was a member of the Board of Get-in Chicago, an organization that focused on preventing gang violence in Chicago. He is a Distinguished Alumnus of Indiana University, where he earned his Bachelor of Arts in Criminal Justice. He also received his Master of Education from the University of California at Berkeley.
Contacts:
Ken Dennard / Rick Black
Dennard Lascar Investor Relations
OWP@dennardlascar.com
SOURCE One World Products, Inc.
$RXMD Very interesting, thanks stockforce!!
$RXMD This great news was a long time coming. Glad to see it, finally!
$BOXS I like what I see here - the business and the recent price-trade action and chart! Still building a position, feed me.
Annual is audited, not quarterlies. Quarterlies are also reviewed by the CPAs at the auditing firm, but not stamped "audited," and do not include the auditor statement.
$OWPC Oh yeah, great stuff here! Only a matter of time, I think there may be a bit of shock and awe coming for those on the sidelines at sub-dollar prices.
Wrong. It's in there, just takes a 2-minute glance at the report.
Exactly. Forthcoming...
$SIRC Blockbuster revenue and profit Q2 growth! We had a huge quarter, and we are seeing consistent highly profitable operations. Compare that to solar stocks on NASD, NYSE, AMEX boards that show losses but have valuations in the $Billions - generational wealth is coming for wise and patient SIRC investors!!
Form 10 coming. Much better transparency and substantial improvement in reporting quality.
Nasdaq uplist coming. Much greater accessibility for funds and funding to fuel further growth through expansion, extension and M&A.
This isn't the only big future growth story in my bag, but one of the best. I think futures generations will be retiring on residual/derivative holdings of my SIRC positions.
$HDUP I'm thinking we're about due this week for mgmt to begin dropping PRs.
$SIRC A lot of good news reverberating across the country and globally for renewable energy investors. SIRC should be one of the top profit generators for retail investors in this decade.
Sorry not sorry institutional buyers will be scrambling to get a piece of this growth bully at much higher prices, after we've had this current opportunity to load and accumulate from the .115 all the way to a few dollars.
$HLBZ Another smart investment, glad to be here!
$ALPP All good. Management continues to perform, financial results speak for the company. Alpine 4 remains a solid investment for me.