mazonas Florestal Ltd. Announced Today That The Company has Returned to Compliance With OTC Markets Pink Sheets Information Tier and Is Restructuring Management and OperationsPress Release | 09/06/2018
MIAMI, FL, Sept. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Amazonas Florestal, Ltd. (www.azflusa.com) (OTC: “AZFL”), a natural resources company dedicated to innovative, sustainable forest management, Industrial CBD Hemp and the certification and sales of carbon credits, today announced that the Company has completed and filed all of its pending financial disclosures. The Annual Report for 2017, Q1 and Q2 for 2018, have been filed and passed stringent reviews, and are now posted and accepted.
Ricardo Cortez, Company Chairman of Amazonas Florestal, Ltd, said, “The company had all but shut down operations in the first quarter of this year as a result of the failures with the first Hemp crop last year. That harvest that was to render in the vicinity of $ 30 Million in gross revenues and had to be destroyed under orders of the Colorado Department of Agriculture for reasons that the plants tested had passed the legal limit of 0.3% THC levels. Testing at 0.4% the entire plantation became illegal and had to be destroyed. However, the company is now working with farming consultants and Cannabis Agricultural Specialists and will soon formalize a business plan to plant again in Colorado next year 2019.” Mr. Cortez went on to add, “The Company is presently evaluating offers and commitments for financing to buy land in Weld or Boulder counties, building greenhouses for plant development to plant a minimum of 32,000 High CBD Hemp Plants in April of 2019.”
The Company’s financial highlights can be found in the recent filings already posted and can be found on the OTC Markets portal. During the last three periods the Company was able to reduce debt on its balance sheets and paid down many of its substantial monetary obligations. The new business plan calls for an invitation to new investors willing to bank on the experience already achieved last year by company operatives in Colorado that created enough intellectual assets to now ensure its future success. Among the mistakes committed by the previous farm contractor group was the mishandling of the cultivars and failure to separate out the males in a controlled environment. This was done under instructions of the consultants there (303 Farms LLC). This year, the construction of greenhouses for plant development will enable the planting of only female seedlings or clones, instead of seeds, from only proven and certified genetic lines. This experience, proper handling and earlier testing schedules will ensure the success of these new plantations that should come to fruition beginning in September of 2019.
In other company news, Mr. Cortez said, “The Company is in the process of restructuring management and is interviewing candidates for the positions of CEO, CFO and COO. We will soon disclose the appointments of these new officers and potentially new board and committee members.”
Also, the Company announced that it will continue to develop Balance CBD as its spearhead brand for placing product on the market in preparation for the increased amounts that will become available for market next year and is in negotiations for the purchase of another brand that already moves good amounts of product on the wholesale and retail markets. Each brand will have individual niche markets and will not be in competition with each other.
AI
