Hmmm... First and foremost, courtesy of Rigatoni, as of today, the Transfer Agent (TA) is unchanged, which means that the heavy selling today is an overreaction from the misinterpretation of thinking that the 8-K was bad when it is really good in my opinion: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173301946
It looks like they are doing something separate and better than what some might have been expecting while still keeping the JP Energy deal alive with NHMD. Here are the important highlights regarding this new deal from the 8-K:
** This new deal is registered to operate through the General Administration of Customs China (GACC) with an official registration number from the Bureau of Import and Export Food Safety in China. This Exporter Registration Number remains valid through November 24, 2028. Here is proof that Nate’s Food Co. (NHMD) has their own Exporter Registration Number through the GACC to ship through China Customs which is huge and is what allows them to do the huge deal that they are doing:
** This new agreement is for the delivery of 650,000 metric tons of sugar to China and is currently in the final stages of contract completion, slated for this week. This means that this contract is bigger and separate from the previously announced contract for 600,000 metric tons of sugar which amounted to $268,140,000 in value. This means that if the buyer from China is willing to buy 600,000 metric tons of sugar for $268,140,000 from the JP Energy deal, then 650,000 metric tons of sugar with this new deal equates to $290,485,000 in value for this new sugar contract with China.
** The company ensured the availability of the contracted sugar through a cash deposit.
** The agreement stipulates that buyers are required to make a 30% payment of the shipment order, approximately $6.2 million per month for 12 months, upon execution.
** This payment structure obviates the necessity for letters of credit from banks, streamlining the execution process by the end of December 2023.
** The company anticipates full execution of the contract this week and subsequent shipment in December 2023.
** The company is actively engaged in securing additional contracts. One of which involves the sale of chicken paws, anticipated to be finalized within the next 4-6 weeks. These contracts, like the previous one mentioned above, are entirely separate from JP Energy Group.
** The company has established a robust strategic partnership with a highly regarded commodities broker possessing extensive expertise in executing and fulfilling commodities contracts. This collaborative effort sees the broker actively supporting the company in procuring additional contracts across a diverse range of products.
** The Company is currently refining its cash dividend policy to seamlessly integrate its newly established commodities business.
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