I dont have the nums in front of me like some do but heres it as best i know.
We used to own phytosphere which grows industrial hemp and extracts compounds like CBD which is used in many of our products. We sold phytosphere to CANV. I think we did it because we anticipated major quick growth in the demand for those extracts, and we wanted to let a team focus solely on that while our management team could focus on new ventures without distractions. JMO. But. The sale said that they pay us at I think three specific times, and they can do so in cash or in CANV stock with a max value of like $6 a share I believe? Someone correct me if I am wrong.
So CANV owes us some millions at each specified payment date, and so far they have only paid us in shares. Even if the CANV shares are trading for $80, one share can only cover up to $6 of their debt to us. So this is extremely good for us as things stand. I dont know how many shares we have and how many we are owed.
Also, side note, there is a deal that keeps CANV and its products from helping our competition I think. Its been a while since I read it, but basically they are a separate company, but they are on our side in the what will soon become extremely popular Cannabis Extract market.
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