With this letter, my team and I would like to update you on the progress and the status of Eclipse Liquids LLC / MC Endeavors, Inc.
Current Status:
Considering the Covid-19 virus outbreak, we are quite happy with our 1st Q results which saw Sales of $340k, down about 28% from 1st Q 2019.
We are projecting 2nd Q Sales 2020 to be down between 20-30% and come in at approximately $300k
During this global slowdown & difficult economic times, we have made cutbacks to our staff and non-essential expenditures to maintain cash flows and position the company for the future growth plans which we have outlined below.
Debt Financing for Growth:
We have been working with an Investment Group and have an agreement in place for debt financing at less than 8% interest on a very substantial loan amount.
This capital will not only finance our growth plans for the next 12 months but will be non-dilutive to our shareholders and is scheduled to fund by the end of this month.
The investors are securing this loan with liens on the newly purchased equipment and while we are confident this loan will close as projected;
we also have a backup offer from a second investment group for the same funding amount with similar terms & a slightly higher interest rate.
The funds from this investment will allow us to purchase much needed additional equipment and build a larger cleanroom to accommodate our growing customer packaging requests & more than double our production capabilities.
We will also be using part of these funds to hire additional production staff as well as staffing a new sales and marketing team to market a couple new product lines we are extremely excited to launch in the coming months.
(Additional information on these exciting new lines will be disclosed shortly) Funds are also earmarked to complete the proper legal filing requirements, retire all the convertible notes and complete audited financials.
Financial Reporting:
While we understand the importance of having financials reported to the OTC, we feel the cash needed to complete the reporting upload is better spent on operations until sales pick back up.
With that said, we have uploaded our 2019 financials to our investor webpage as these are the same numbers that our CPA has been given and will be reported on OTC in the very near future.
We are still very excited about this year as we have many new & exciting projects in the works.
We will also be updating our Investor Relations page(s) to include more up to date information and enable easier investor feedback options.
ALISO VIEJO, Calif., February 7, 2020 (Newswire.com) -MC Endeavors, Inc. / CBD Liquid Labs (PINKSHEETS: MSMY)
Mr. Mazurek is excited to announce the change of control has been completed and Mr. Stippick is no longer a part of MSMY/CBD Liquid Labs.
Corporate Updates:
The Special Preferred A Share has been signed over from John Stippick to Steven Mazurek, signatures have been Medallion Guaranteed and the certificate shipped to the Transfer Agent to be reissued
Company has accepted Mr. Stippicks signed letter of Resignation as an Officer and Director of MSMY 35 million common shares in the name of Mr. Stippick have been canceled and the remaining 14 million are being reassigned
Current Issued and Outstanding Common shares will now total 601,545,809 Company has canceled convertible notes to Mr. Stippick for $115,668 and $45,000
Mr. Mazurek is in possession of a MSMY cert for 20 million preferred shares of MGON All related assets and liabilities for Room 21 Media are being transferred to Mr. Stippick
Trusted business legal firm (Winter LLP) attorneys working on Reverse Merger and Name / Symbol change paperwork In the next couple of weeks,
the Company plans to release an exciting video Sales and Marketing Update outlining the plan for growth in 202021 as well as announcing some innovative new products and sales presentation materials for our clients.
About Eclipse Liquids/CBD Liquid Labs
Founded in 2013, Eclipse Liquids is one of only 34 AEMSA certified and FDA registered clean room laboratories and production facilities for eLiquid private label manufacturing in the world.
Through years of honing our manufacturing processes, developing and innovating new products and building a loyal and dedicated staff, Eclipse has grown to become a leader in the CBD Product manufacturing industry.
Specializing in private label premium CBD products serving the needs of small-scale businesses to large multi-national companies.
The Company offers a broad range of capabilities, from custom recipe development with full production and manufacturing, to confidential private labeling of your branded CBD products.
Safe Harbor Statement In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Companys future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements
in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Companys business units or the market price of its common stock.
Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Companys website. The Company disclaims any responsibility to update any forward-looking statements.
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