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Monday, February 15, 2021 9:03:39 PM
In addition to being part of a corporate reorganization, the LOI to acquire Recommerce may have been announced now to provide a clearer business plan for the regulators. Obviously, it is not normal to backdate a recently announced LOI to an old 10-K filing. I assume the reason they did it is that the 10-k is included in the Reg A offering statement.
I honestly don't think they will have any problem completing the Reg A once it is qualified because I believe they will have no problem getting the share price well above .25 once the full corporate reorganization is revealed.
Adding the section on the company's products in the amended 10-K says it all. No way to have products without someone coming in. Hopefully news this week.
"The Company’s hemp and CBD products are derived from industrial hemp, not marijuana. There is a clear scientific distinction between the two plants: The Company’s products contain less than 0.3% tetrahydrocannabinol (“THC”), the psychoactive compound found in marijuana. (Most marijuana contains over 10% THC). There is also a clear legal distinction between the two plants. While marijuana is currently illegal under U.S. federal law, the industrial hemp used in our products is 100% legal at the federal level, as authorized by the 2014 U.S. Farm Bill."
If it is Availa Bio coming in, which looks to be the case and makes perfect sense with Gietl, Ghalili, and the NOVI description being exactly the same as Availa, then we are looking at 21 million in revenue with Cannaworx and SkinScience, plus another 4-5 million with the proposed 5 leaf labs acquisition, and another 6 million with Recommence.
Then there is a real possibility that James Zimbler's 72.5 million restricted commons that have been sitting there for 2+ years are exchanged for the Global 3pl software rights, while NOVI retains Cannagistics.
That would give a 105.5 million outstanding.
This sector and multiplier, 32 million in revenue, fresh new product line, 100 million O/S. Easy math!
Then you have the supply chain aspect which coincidently enough, CNGT's timeline lines up perfectly with what One World Pharma just put out, around the end of Q2.
She's a keeper.
CNGT!!
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