ProGreen US Inc. (fka PGUS)

[MoneyForNuthin]

Glad the 8K for financing was brought up again. Let's have a review of the CEO's recent comments on the financing - Jan, the CEO who recently loaned the company $500K, bought 23M shares on the open market over the past year (and just filed 2 Form 4's for stock puchases over the past 2 weeks), who founded Soltech Energy (Swedish solar products manufacturer), developed/built/sold over 500 premium propeties in Spain, whose brother (CEO of EIG Capital) and Nephew (CEO of Soltech Energy, Sweden) are also big PGUS shareholders. Jan Telander (CEO), brother Ulf Telander, and nephew Frederic are heavily invested in ProGreen US, Inc. (PGUS) - a lot of skin the game for the Telanders.

...and PGUS with a beautiful share structure:
O/S 350M
Restricted shares 104M
CEO shares 23M+
Free Float = 224M
Trading Float - much, much smaller (most of float held tight by many longs who've been in the stock between 8 and 13 months)

...and the company's 2 business segments with:

Agricultural - $1.2M produce contract with 55-60% margin returning cash back to the business starting in July, with plans for growth of 1100% over the next 3 years.

Real Estate - massive Cielo Mar green all-solar gated community planned for recently-acquired 5000 acres land with 4.7 miles of oceanfront in Baja California, with master plan completion estimate this fall and reservations for sales of lots starting this month based on pricing that values the land at $700M (with much more revenue/profit to be produced by construction and leasing)

April 3, 2017 ProGreenUS Blog Update:

The company has received inquiries regarding the recent Form D filing (available on EDGAR and OTC Markets). The Form D is a compliance requirement related to the bridge financing discussed in our previous update on March 25. As noted in the March 25 blog post, our intention is to pay off all notes in cash.

March 25, 2017 ProGreenUS Blog Update:

As noted in the Subsequent Events in this week’s 10-Q filing, we are continuing to use alternative financing for funding the early stage of our projects. We see these notes as bridge financing. While we do have the $5M equity line through Tangiers Global available, we do not feel it suitable to draw on at this time. 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.

The majority of our expenditures are going into the agriculture operations, much of this being initial infrastructure “one-time” costs (e.g. irrigation, fencing/installation, machinery), all of which will go on our books as receivables that will be paid back to ProGreen out of revenue from the harvest before profits. Most of the expenditure will be finished once the planting of the chile peppers is completed, and revenues will start in July with the first harvest.