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Posts | 11212 |
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Alias Born | 04/25/2012 |
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Friday, December 29, 2023 12:50:55 PM
From the 8K on 12/28/23, Kevin A. Mort has been issued his 7.5M shares. Outstanding share count is up to 198,391,536 and the Authorized Share count was last reported at 300,000,000. Form D is out there and wants to raise as much as $7M. The 8K from December 12th mentioned needing a minimum of $5M to sustain the Two Trees Distilling Co. 100M shares sold at $0.05 would raise that $5M, which looks like a best case scenario to me, and would only buy 12 to 24 months of runway. The beverage industry is brutal. Two Trees likely won't go viral. The entire company, and it's declining revenues, aren't worth $5M. Current market cap is basically $6M (200M shares x $0.03), and that's high by a multiple of at least 3.
Also from the 8K on 12/28/23 mentioned the COO / Board Member Michael Nordlicht is resigning, effective immediately. No reason given, just that it's not a "disagreement". Love to know the real reason why but given his brother's history, this probably isn't a bad thing.
Perhaps the most interesting thing about the latest 8K (12/28/23) is the company's desire to expand / diversify beyond beverages. IMO, any bet on $MDWK going forward is a bet on the RF Tech outside of Two Trees Distilling (licensing agreements), as well as the rapid maturation process of distilled ethyl alcohol. The link following gives a very, very brief explanation of the RF tech's additional uses: https://www.rfspecialtiesus.com/industries/
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Recent MDWK News
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