I got this update from the company this morning. Seems there are a lot of moving parts with high potential. This e-mail all but hints that GroGenesis will be getting distributors in three more countries--one being India. That is a huge market.
I cannot help but assume that distributors are not lining up to sign on to distribute AgraBurst without verifying to their own satisfaction that the product can help farmers and ,therefore, is a viable product to sell. Why sign on to sell a product that cannot perform?
Here's the e-mail (which I get because I signed into their opt-in list)----
GroGenesis Inc
To GroGenesis shareholders and interested investors:
Beginning on Wednesday, October 4, GroGenesis management met with the Agriculture Minister of Cambodia which resulted in the Minister sending five (5) Agriculture Ministry department heads dedicated to specific crops (rice, palm oil etc.) attending the conference the next day to assess AgraBurstPRO's efficacy and report back to the Ministry.
On Thursday, October 5, the GroGenesis Global Partners Conference and Signing of Curwel International as a Regional Distributor was, by all accounts, an unqualified success. The US Ambassador to Cambodia, William Heidt, commented to GroGenesis management: "What you did this morning is how a market launch should be done."
GroGenesis' partner from Colombia, Manuel Oviedo, Director General of Vita-Agro S.A.S., presented the field test results from Colombia showing yield increases ranging from 15%-40%, depending upon the crop.
With over 200 attendees representing, the media presence was high from local newspapers and TV (Note picture of Richard Kamolvathin, CEO of GroGenesis, in Cambodian newspaper below).
The interest in distributing and using AgraBurstPRO was evident by the high attendance and participation in the Technical Forum and Q&A session in the afternoon following the more formal signing ceremony and presentation on "Accelerating GDP Growth Through Agriculture" on the morning of October 5.
GroGenesis Management continued to meet individually with prospective distributors, sub-distributors and representative from farming cooperative associations during the day on Friday, October 6. South East Asian distributors met with GroGenesis' partner from Colombia to ask detailed questions on AraBurstPRO field testing, yield increases recorded and application protocols. Specific interest from prospective customers was on rice and palm (palm oil) results.
In addition, training of field distributors from Vietnam on AgraBurstPRO application on rice was conducted at the Phnom Penh offices of Curewel International on Friday.
Previously announced distributors and sub-distributors from the following countries participated:
Bangladesh
Cambodia
Colombia
Laos
Myanmar (Burma)
Sri Lanka
Vietnam
Prospective distributors for the following countries participated and met with management:
India
Malaysia
Singapore
Future country distributors will be announced upon contract signing.
Regards,
Investor Relations for GroGenesis (GROG)
Notice Regarding Forward-Looking Statements
This e-mail communication contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon the Company's current expectations, estimates and projections and reflect its beliefs and assumptions based upon information available to the Company at the date and time of this communication Readers are that forward-looking statements are predictions based on current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. The Company's actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors. The Company undertakes no obligation to revise or update any forward-looking statement for any reason.
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