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Same document:
“ The Company is pleased to announce that it had a record 412,089,878 shares voted at this year’s Annual General Meeting and that we received over whelming support, in excess of 95% on all of the motions contained within its management information circular. Included in the approved motions approved was changing the name to "Chalice Brands Ltd." and to affect a 23 for 1 share consolidation. The Company anticipates setting the date for the share consolidation and name change shortly.”
Statement re: unaudited Q1 results:
"The Company also wishes to share preliminary unaudited first quarter 2021 results of US$5.5 million revenues and gross profit of US$2.5 million or 45% gross margin and adjusted EBITDA was positive for the quarter."
https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00033830&issuerType=03&projectNo=03223042&docId=4963384
Posting this question and answer for fun purposes only. This post is not to be interpreted or used in any manner, shape, way or form to represent reality or knowledge or data or information. That said:
Any guesses/speculation who the other entity is?
My guess is Electric Lettuce or Nectar.
as always I reserve the right to be wrong.
12312 SE CAPPS RD
CLACKAMAS, OR 97015
Is the actual facility address of Tozmoz
per
http://vessels.bcd.oregon.gov/site/index.cfm?fuseaction=show_site_detail&site_tk=29338
Google map street view it and see that it’s a light industrial facility not a strip mall.
Just a warning to all to not believe everything you read on these boards.
Seriously I can’t believe what gets posted here.
Just received email from Bennet/Mounteer LLP, attorney for plaintiffs in Bridgemark class action suit. This may be a way to get some of our money back - even if it’s pennies on the dollar - still worth the effort if only to take money out of the pockets of the Bridgemark/Abattis scammers.
See my previous post on this for contact info.
Probably nobody left to read this (and probably my last post to this board) but I believe this is one of the last nails in the coffin:
https://www.globenewswire.com/news-release/2019/11/08/1944342/0/en/Abattis-Provides-Update-on-Trading-Halt-and-Corporate-Developments.html
They blame the BSCS for the Nutri Vida falling through and blame the BSCS for them getting out of the Cannabis business.
Look at their last three monthly CSE reports where they report no earnings which doesn't quite square with their rosy declaration that the Pro Natura business is bringing in revenue.
Oh and by the way they report that they expect to remain suspended for several more months on the CSE.
I still have my 100 shares :) woohoo!
ciao!
A lot of SEDAR and CSE filings today. Here is just one link. It's the Management Discussion and Analysis
For the three months ended December 31, 2018:
https://webfiles.thecse.com/sedar_filings/00011477/1908161038063056.pdf
Look to the table on page 5 for a summary of financial activity. Not impressed by their revenue stream.
They also posted quarterly financials. Here is one link for Condensed Consolidated Interim Financial Statements For the three and six months ended March 31, 2019 and 2018:
https://webfiles.thecse.com/sedar_filings/00011477/1908161039362340.pdf
Note that this is an unaudited report.
I will admit that I did not expect them to file today as indicated in my recent post. I was wrong. I still think that the fundamentals are weak as indicated in the MD&A and the quarterly financials. Note especially that they had indicated last year they would engage in a sock buy back. This has not occurred as reported in their MD&A.
Quote from last weeks press release:
"With the Annual Filings now complete, the Company intends to complete the filing of its interim financial statements for both its Q1 and Q2 by the end of next week."
Note the use of the word "intends". So they intend to file Q1 and Q2 by EOB tomorrow. If they don't file they haven't technically lied because they had the "intent" to file but, whoops, something got in their way.
I intend to buy a beer for the first Canadian I see Friday afternoon if ATT.BF files Q1 and Q2 tomorrow as "intended".
Nicer web sites:
CSE suspension:
https://thecse.com/en/about/publications/bulletins/2019-0810-suspension-extension-abattis-bioceuticals-corp-att
SEDAR filings - financials:
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00011477
Lawsuit info:
https://docs.wixstatic.com/ugd/1fe227_b16ca3e71cbe4f768915de774f6253d5.pdf
Do the math. 500,000 shares sold at a penny costs $5k. You can have high volume but with prices so low not a lot of cash is trading hands. Q1 and Q2 financials are to come out later next week per the “company” press release. 2 things to think about. Monthly reports (on the CSE website) do not indicate any sales or operations. Count how many times in the past press releases has the company actually followed through? For example months ago a press release announced a conference call that never happened; how many press releases in this past year mentioned pending financial report.
The fundamentals haven’t changed.
So not delisted but still suspended:
https://thecse.com/en/about/publications/bulletins/2019-0810-suspension-extension-abattis-bioceuticals-corp-att
Link to financials filed today:
https://webfiles.thecse.com/fs_abattis_093018.pdf?zL28ReTpJ2NgursxxInC3Q2YpnWXufhW
Keep in mind the following:
1. This is for FY 2018 (Oct. 1 thru Sept. 30 2018) so the information at hand is very, very dated.
2. The CSE has not yet lifted the delisting or suspension order. I will speculate that they lift the delist order but may keep it suspended for further review.
3. During this time period two numbers stand out:
1. “OPERATING ACTIVITIES Net loss for the year
Adjustment for items not affecting cash:
September 30, 2018
$ (77,650,572)”. From the financials
2. Sales: $8371
In response to your statement that people who sold on the delist news will regret it - current share price is below a penny.
Re: RIP
I partially agree. The CEO and others who defrauded common shareholders should not “rest in peace” but rather they should LIA - Litigate In Agony.
Here’s the link to the CSE delisting notice:
https://thecse.com/en/about/publications/bulletins/2019-0808-delist-abattis-bioceuticals-corp-att
My prior posts have links to the law offices pursuing a class action against the “company”. I’ll post those links again in a subsequent post.
Brazos Minshew seems to have been erased from the “company” website. I’m toast with investor relations - can someone contact them and inquire about his status? If he’s gone from Abattis that would seem like a reportable material event.
Agreed, and one of many red flags. Thanks for the compliment. For those interested here’s a link to the class action website:
https://www.bridgemarkclassaction.com/
The news speaks for itself. My “stake” in this putative company is in the single digit dollar amount. I will keep posting CSE notices, SEDAR filings, news reports, and anything else I can find relevant to the civil suit and/or other legal action that may occur. In my opinion anyone thinking of investing in this “company” should do their own due diligence and ask yourself the following questions:
1. Do I want to invest in a company that has been suspended by the CSE for the past 5+ months?
2. Do I want to invest in a company that has recently fired their auditor because of “disagreements”?
3. Do I want to invest in a company that hasn’t filed their FY 2018 financials? (End of FY for them was September 2018 - 9+ months ago).
4. Do I want to invest in a company that is run by a CEO who is also the CEO of 2 other “companies” with their own host of CSE issues?
5. Do I want to invest in a company that is subject to a class action?
6. Do I want to invest in a company that has no operations?
7. Do I want to invest in a company that has a board director that was sanctioned by the FTC for making fraudulent claims?
From the civil lawsuit:
"91. The Defendant, Robert Abenante (“Abenante”), is a resident of Vancouver, British Columbia and was, at all material times in 2018, a director and the President and Chief Executive Officer Abattis Corp., with an address for delivery at Suite 224 - 970 Burrard Street, Vancouver, British Columbia.
92. The Defendant, Kent McParland (“McParland”), is a resident of Richmond, British Columbia and was the Chief Financial Officer of Abattis Corp. from May 15, 2018 through the balance of 2018 and became a director of Abbatis Corp. on October 19, 2018, with an address for delivery at #338 – 5600 Andrews Road, Richmond, British Columbia. McParland was also the Chief Financial Officer and a director of Cryptobloc from July 3, 2018 through the remainder of 2018."
Link:
https://docs.wixstatic.com/ugd/1fe227_b16ca3e71cbe4f768915de774f6253d5.pdf
“Investors launch class action suit in alleged Bridgemark Group stock scheme
The notice of claim is posted on the website BridgemarkClassAction.com”
https://www.princegeorgecitizen.com/news/local-news/investors-launch-class-action-suit-in-alleged-bridgemark-group-stock-scheme-1.23885623
“We are looking for people to come forward to give evidence about their share purchases,” Bennett told Glacier Media via email July 12.
https://www.bridgemarkclassaction.com/
Pay special attention to paragraph (d) of this filing.
“(d) since the Corporation engaged new auditors prior to the completion of the audit, there were several unresolved issues between the Corporation and DMCL, which unresolved issues are considered reportable events under the definition in Section 4.1(1) of National Instrument 51-102. DMCL indicated that it did not have sufficient or satisfactory audit evidence to complete the audit mandate and verify as bona fide and arm’s length certain of the Corporation’s transactions involving acquisitions, investments and payments made to consultants and the value received by the Corporation in connection with such transactions. The audit committee and board of directors of the Corporation has discussed the issues with DMCL. The Corporation has authorized DMCL to respond fully to inquiries from NVS concerning the unresolved issues; and...”
https://webfiles.thecse.com/sedar_filings/00011477/1907121537518754.pdf
Letter to CSE from Abattis re: auditor resignation:
https://webfiles.thecse.com/sedar_filings/00011477/1906241002126181.pdf
Go to SEDAR to check out the resignation of the auditor and appointment of new auditor.
Old Auditor:
https://sedar.com/GetFile.do?lang=EN&docClass=13&issuerNo=00011477&issuerType=03&projectNo=02933261&docId=4547669
New Auditor:
https://sedar.com/GetFile.do?lang=EN&docClass=13&issuerNo=00011477&issuerType=03&projectNo=02933261&docId=4547671
I have run out of expletives. But this is just another WTF moment in a long string of WTF moments with this company>
Stealth “news release”. Just found this on their website but doesn’t show up in a google news search. So they closed on the fertilizer deal announced and delayed earlier this year. The fertilizer company is now call “Pi” (make your own jokes referencing cows). Once again another deal goes through without financial report being disclosed.
Anyone know who Kelly Zastowny is?
https://abattis.com/2019/05/31/abattis-announces-successful-closing-of-pi-nutrients/
June 3, 2019 | Abattis Bioceuticals
VANCOUVER, BRITISH COLUMBIA / June 3, 2019 / Abattis Bioceuticals Corp (the “Company” or “Abattis”) (CSE:ATT) (OTC:ATTBF) is pleased to announce that, further to its news releases dated December 7, 2018, January 10, 2019, and January 18, 2019, the Company has successfully completed its acquisition (the “Acquisition”) of 1157016 B.C. Ltd., dba NutriVida in the United States and Europe, and Pi Nutrients in Canada (“Pi Nutrients”), a privately held British Columbia fertilizer and nutrient company.
In connection with the closing of the Acquisition (the “Closing”), the Company will pay the shareholders of Pi Nutrients an aggregate cash purchase price of CAD $5,250,000, with CAD $250,000 due upon Closing, $2,125,000 plus interest due one (1) year following the Closing, and $2,625,000 plus interest due two (2) years following the Closing (each, a “Subsequent Cash Portion”). Each Subsequent Cash Portion shall accrue interest at 11% per annum, on the basis of a 365-day calendar year, which interest shall begin to accrue on the date such Subsequent Cash Portion becomes due. In addition, the Company has agreed to pay up to an aggregate of $10,000,000 in cash to the Pi Nutrients shareholders upon the achievement, by Pi Nutrients, of certain performance-based milestones (the “Performance Milestones”). The Performance Milestones include obtaining permits in several US States, as well as significant revenue targets of up to $50,000,000 in cumulative revenue commencing the date of Closing.
“Abattis continues to hit significant milestones as we remain focused on revenue growth in the Company,” stated President and CEO of Abattis, Robert Abenante. “We are very excited to have completed the acquisition of Pi Nutrients, as we believe it will significantly contribute to the Company’s revenue generation alongside our other recent acquisition, Pro Natura BV” added Mr. Abenante.
In connection with the Closing, the board of directors of the Company (the “Board”) will be increased to include a nominee of Pi Nutrients. It is expected that Kelly Zastowny will be appointed as Pi Nutrients’ nominee.
Mr. Zastowny has over 35 years of experience within the plant nutrient industry, and was a key figure in the research and development of modern hydroponic technology in North America, Engand, New Zealand and Eastern Europe. Mr. Zastowny has served as the past President of NutriLife from 1990 until the end of 2017, and is the current president of Pi Nutrients.
About Pi Nutrients
Pi Nutrients’ management team is comprised of over 100 years of combined experience in the research, innovation, manufacturing and selling of complete, well-balanced fertilizers and soil amendments to the hydroponic and garden centre industries. They have been forerunners in the innovation and technological advancement of the hydroponic sector since 1978, specifically in regards to the cultivation and production of cannabis.
About Abattis Bioceuticals Corp.
Abattis is positioned to be a leader in the cannabis industry as a fully integrated medicinal cannabis company. Abattis Bioceuticals’ portfolio consists of Pro Natura BV, Pi Nutrients, NutriVida USA, Gabriola Green Farms, Select Strains, Green Tree Therapeutics, Vergence Naturals and COMFORT™. For more information, please visit the Company’s website at: www.abattis.com
ON BEHALF OF THE BOARD, ABATTIS BIOCEUTICALS CORP,
“Rob Abenante”
Robert Abenante, President & CEO
For inquiries please contact (808) 650-3007 or investors@abattis.com
Abattis’ investor relations are managed by Canada One Communications Inc. For more information please visit www.canadaone.media
FORWARD LOOKING INFORMATION
Certain statements contained in this release constitute “forward–looking statements” and relate to future events or future performance. Forward-looking statements in this news release include, but are not limited to, statements regarding: (i) Pi Nutrients’ ability to generate revenue; (ii) the anticipated financial impact of the Company’s recent acquisitions of Pi Nutrients and Pro Natura BV; and (iii) the composition of the Board following Closing. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
Just to wrap this notion around as many heads as possible: They are able to complete an acquisition without finalizing audited financials from prior year. Trading remains halted/suspended on the CSE since FEBRUARY 1, 2019. (yes, I am shouting- and yes, do the math - it's now been FOUR MONTHS of suspension - glad I'm not Canadian). All my queries to investor relations come back as "we are still auditing our financials". BTW their fiscal year ended SEPTEMBER 30, 2018. (yes - shouting again - do the math - 8 MONTHS to complete an audit!?)
Abattis's CEO is also the CEO of the "company" in the news item below where it's trading halt has been extended:
https://finance.yahoo.com/news/bcsc-panel-extends-temporary-orders-230000091.html
Abattis's CEO is also the CEO of a mining "company" - Marifil with a debt of over $17 million (canadian)
net losses for most of it's existence and NO REVENUE.
So I will take any post about "excitement", "great video", "potential", with a large grain of salt.
Their FY is Oct 1 - Sept 30. They have not filed financials for year ending Sep 30, 2018. They have not filed October 1 - December 31 2018 quarter financials. They have not filed Jan 1 - March 31 2019 quarter financials. They are still suspended on the CSE and by my reading of the CSE rules ought to be delisted on the CSE by now - (I reserve the right to be wrong on that last statement.)
They scheduled, then cancelled a conference call back in January 2019.
No movement on LMP application process - in "final stage" for years now.
No signs of development of Gabriola property - No permits applied for or submitted.
Belleville, Ontario lab is .... I don't know. Seems to be no further movement on zoning issues for the property. Not on the agenda for the last 2 Bellville planning meetings.
Acquisition of a Dutch nutraceutical company that, while in the EU, has a Dutch language only web page - no French, German, English customers?
Current CEO is also CEO of 2 other companies - Marifil Mining and Cryptobloc. Along with Abattis all have the same building and suite address. BTW for extra credit in your due diligence check out the history of those two "companies".
At the very least read news releases of the past 3 years and you'll see no accomplishments. Nice website and videos - but no results.
Vapes? Nothing cutting edge about their design tells me its going to be a break through product that will generate meaningful revenue.
Pain reliever? Google its creator's name and tell me what you come up with - go back a couple years and see news stories related to his having to settle with the FCC for false claims.
SHARE PURCHASE AGREEMENT
This Share Purchase Agreement (this “Agreement”) is dated as of March 27, 2019 and is entered into between:
CATALYST INVESTMENT CAPITAL CORP., a British Virgin Islands corporation (“Vendor”) and
1185277 B.C. Ltd., a British Columbia corporation (“Purchaser”).
Recitals
WHEREAS, Vendor owns all of the Shares in the capital of Pro Natura b.v., a corporation registered in the Netherlands with an address at Parklaan 3, 4061 JV Oisterwijki (the “Corporation”); and
WHEREAS, Vendor wishes to sell to Purchaser, and Purchaser wishes to purchase from Vendor, the Shares, subject to the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I Definitions
Definitions.
SCHEDULE A - DEFINITIONS contains a list of definitions that apply to this Agreement.
ARTICLE II
Purchase and Sale
Purchase and Sale. At the Closing, Vendor shall sell to Purchaser, and Purchaser shall purchase from Vendor, the Shares, free and clear of all Encumbrances, for the consideration specified in Section 2.02.
Purchase Price. The aggregate purchase price for the Shares shall be €6,684,200.00 (the “Purchase Price”), which shall be payable as follows: (i) €2,000,000.00 on the Closing Date (the “Initial Cash Portion”) and (ii) in tranches as follows (each, a “Subsequent Cash Portion”):
Date
one (1) year following Closing two (2) years following Closing
Amount €2,220,000.00 €2,464,200.00
“catalyst investment capital corporation” - this is the vendor company that owns all the shares of Pro Natura bv.
Look it up. Be sure to look for the “company” with the British Virgin Islands address. Similar name to a more legit Canadian venture capital company.
250 Sidney was not on the agenda. Neither the property owners nor potential renters were present at the Bellview planning committee last week. I don’t think their serious about setting up a lab here. (Or anywhere).
Everything will bounce a little: dead cats, dead men, and in this case - dead stocks. The only thing that shouldn't bounce is a gymnast when they stick the landing.
There is chatter of a class action suit on another board. I'll see what I can find out and pass it along.
“Dead cat bounce” is the phrase. See below:
https://en.m.wikipedia.org/wiki/Dead_cat_bounce
So they can make an acquisition like this and still not get their financials done timely. Meanwhile Canadian stockholders still can’t trade because of the suspension. Don’t get too excited.
“News” re acquisition of Pro Natural.
Those who still feel positive about Abattis please post a link to Pro Natura’s website. Abattis seems to specialize in acquisitions of obscure companies without actual operations.
Link to CSE information. Basically if the “company” doesn’t file it’s financials by April 2 then the CSE will delist.
https://webfiles.thecse.com/resource/CSE_Policy_3_Suspensions_and_Inactive_Issuers.pdf?8xRXkYLxtQ33hB_z8Z.oUnsc0C_y0nu6
Side bets anyone? Bellview Planning Committee meets next week. At the last meeting they implored the property owners to bring reps from the companies that plan on leasing the space. I still say the “company” is a no show again.
Good question and how wise to get out early. I agree with SFP although I think it’s more of a shell rather than a scam company (end result is the same). One needs to look at the two other companies that share the same CEO (and other officers/directors) and office suite address: Cryptobloc and Marifil Mining, to see the full picture. I’m developing a theory that this is a 21st century version of 3 card monte.
Link to Gabriola property valuation. In my mind this is the only tangible asset (along with the unsold inventory of vapes and comfort pills) that the "company" possesses.
https://www.bcassessment.ca/Property/Info/QTAwMDBENk5VUQ==
$712,000
Can't vouch for the accuracy or how current the information is, but it does not seem to indicate the Abattis purchase in 2018.
I regret the error. It was an FTC settlement not an FDA sanction:
https://www.foodsafetynews.com/2014/07/consumers-to-get-3-5-million-for-phony-health-claims-about-cactus-juice/
I’ll take any news of movement with a grain of salt. The “company” recently moved its corporate office and is now co-located with Marifil Mining. (Same suite - same CEO). Look it up on SEDAR. The “company” was a no-show at the Belleview town planning meeting last week where there are plans for a putative lab. Trading has been suspended on the CSE for late filing of financials. 6 weeks later still no financials. Two board directors resign. Go to the British Columbia provincial web site for cannabis licensing and see if you can even find said “company”. Search Gabriola Island building permits for construction permits for putative grow facility and let us know what you find. Comfort by Vergence is being peddled by a person who has been sanctioned by US FDA for making misleading claims in the past. Google him and you’ll see. Google the “fertilizer company” recently purchased and let us know what you find. Movement? I moved my lunch money out and put it somewhere else. I retain about 5 dollars worth of shares to maintain standing in the event of a class action law suit. Not likely to happen but it’s a small amount to hedge my bets.
Abattis is no longer under a cease trade order by the CSE. It is now under “suspension” which is more serious.
Bury the board resignations announcement in a weekend press release:
https://menafn.com/1098230044/Abattis-Announces-Resignation-of-Directors