MDMP = Still attracting buyer interest after October 11, 2019, press release.
On October 11, 2019, MDM Permian, Inc. (OTC: MDMP) announced the formation of strategic alliances with Frisco, Texas based FireDream Resources, LLC. and affiliates. “We are excited about these new relationships and the growth they will afford both sides in transactions moving forward,” said Michael Rafael, President and CEO of MDM Permian, Inc. The companies have signed an LOI to jointly develop up to 200 wells in the Southern Midland Basin with MDM Permian, Inc. as the prospect generator and operator. The LOI kicks off with the companies having entered into a sales and operating agreement for 4 wells in Irion County, Texas. MDM Permian, Inc. will retain a carried working interest (CWI) in all the projects. The wells are located in Irion County on the 160-acre Lindley lease, producing from the Canyon Sands at an approximate depth of 7000 ft. with both Wolfcamp, Clearfork and San Angelo potential behind pipe. MDM Permian, Inc. has designed a re-work program that includes updating existing infra-structure, additional perforations to increase oil and gas entry, chemical programs, and acid jobs. The company is also obtaining an option for up to four full sections where the Lindley lease is located.
MDM Permian, Inc. is also negotiating the acquisition of an additional 16 wells, with associated HBP acreage, all in the immediate area. These wells are also currently producing from Canyon Sands. “Our company is continuing to research the potential for further acquisitions within our 35 square mile area of interest.” said MDM’s President, “The overlooked oil and gas reservoirs, as well as the historically low recoveries from these wells, in the Canyon Sands, presents a tremendous opportunity to build reserves and production at a relatively low cost using modern recovery technology.” The company plans to begin work in the field within the next few weeks as paperwork and transfers are completed.
AXXA = Still attracting buyers interest after November 19, 2019, earnings report.
On November 19, 2019, Exxe Group, Inc. (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in real estate, sustainable technology, media, financial services and agribusiness, announced today strong year-over-year and quarterly financial results for the period ended September 30, 2019.
Revenue grew by a substantial 484% to $2,610,756 as compared with $448,021 for the same period last year. On a quarter-to-quarter basis, top-line rose by an impressive 117%, as compared with the June 2019 period. Operating income jumped by 31% to $245,921 versus $187,141 in the corresponding quarter in 2019. Net loss for the quarter was ($270,713), reflecting financing costs related to the series of acquisitions executed during the period. For the first six months of the fiscal year, Exxe Group recorded $3,826,192 in revenue and a net loss of ($1,007,092) versus $796,460 and net profit of $294, 830, for the same period last year, respectively.
While growth in revenue was diverse and across multiple holdings, the primary drivers of the sales growth included new holdings, including DHE Group, and the Company’s recently acquired agribusinesses, and others. Sales momentum is building rapidly in our key holdings and we expect to continue to generate significant gains in revenue for the quarter ending December 31, 2019, which will include additional acquired firms and cross-holdings sales. In addition, as the integration of the recently closed transactions continues, our gross and operating profitability will be favorably impacted as well due to cost-saving measures. We are also exploring alternative financing sources which could reduce our financing costs, thereby raising our overall profit profile.
Importantly, shareholder’s equity rose to $99,750,462 versus $37,753,734 in the corresponding quarter in 2018, a 164% increase. Moreover, shareholder’s equity jumped by 20% from the previous quarter. The shareholder’s equity figure is a key measure that demonstrates that the company’s aggressive, targeted acquisition and operations strategy is succeeding and its growth is accelerating. While integration of our new transactions are underway, management is committed to enter into new Letters of Intent during the current quarter and in 2020 in order to further penetrate and establish a large footprint in our targeted industries across the globe. As these transactions close, we will further increase our reach and enhance our overall financial performance.
During the September quarter, Exxe Group acquired a 51% interest in three agribusiness entities engaged in processing, storage, trading, transport, and logistics for $16,000,000, in exchange for an $8,000,000 three-year note and 4,000,000 Series C preferred shares. These entities accounted for roughly a third of total quarterly revenue along with modest profitability. We expect recent and pending transactions will have a material and positive effect on our financials for the current quarter and beyond.
VRUS = Still attracting buyers after September 10, 2019, quarterly report.
On September 10, 2019, the company reported that revenue set an all-time record of $3.48 million in Q3/19, an increase of 154% over the $1.37 million reported in Q3/18. Verus also said that it had its largest funded backlog in Company history, currently in excess of $34 million for delivery in the 12 months following commencement of initial shipping schedules.
“The Q3/19 results highlighted the growth potential of our business in the GCC, which accounted for the majority of the revenue,” explained Verus CEO Anshu Bhatnagar. “A large portion of the expense to launch our new MLB business fell into this quarter without much of the revenue, so the bottom-line results were affected by timing. Promotional materials and initiatives, coupled with recurring operating expenses, all contributed to a spike in our operating costs, which will continue to be incurred as we grow, but will be outpaced by future revenue increases. To put this in perspective, our MLB business only accounted for 1.6% of revenue in this triple-digit growth quarter.”
Verus International operates an international food subsidiary (Verus Foods) that sells branded consumer products to customers worldwide.
EDXC = Attracting buyers after House MORE Act and November 18, 2019, press release.
On November 18, 2019, CBD Unlimited, Inc., formerly known as Endexx Corporation (EDXC), a provider of innovative phytonutrient-based food and nutritional products, announced it had reestablished processing solutions with a major American merchant solutions provider.
In consideration of CBD Unlimited’s recent productive expansion plan, the Company continues to develop business operations through newly formed and reestablished processing strategies in collaboration with only major American merchants. These initiatives originated shortly after the Secure and Fair Enforcement (SAFE) Banking Act was passed this September by the U.S. House of Representatives as it is forecasted to pass the Senate. CBD Unlimited anticipates significant opportunities for financial institutions if the bill is approved by the Senate as risk alleviates with the involvement of Cannabis-Related Business (CRB) banking.
“The far-reaching implications for the hemp and financial industry rendered by the SAFE Banking Act highly supports CBD Unlimited’s growth strategy as more efficient services are expected to come,” says Todd Davis, CEO and Chairman of CBD Unlimited. “We look forward to building long term loyalty with our partners and consumers through this establishment. While the underwriting process was time consuming, and at times frustrating, the company did not accept offshore banking solutions.”
The SAFE Banking Act will create a safe harbor for hemp businesses, financial institutions, and insurers as no criminal association will come from the offering of financial services to cannabis companies in legalized states. CBD Unlimited has gained momentum quarterly and will proactively communicate with its customers and its stance following recent federal proposals. CBD Unlimited will not compromise its services with Foreign service providers and will continue to protect our customer’s privacy and data and remain compliant with these regulations.
On November 12, 2019, CBD Unlimited, Inc. (OTC: EDXC), announced the Company is cleared to distribute its CBD products in Puerto Rico and South Africa.
In addition to experiencing a continuous increase in demand, both nationally and internationally, the Company has partnered with a licensed market distributer to deliver over the counter CBD products in every pharmacy and every retail store in Puerto Rico. The Company is shipping into both South Africa and Puerto Rico near term with potential for a couple hundred stores immediately available to establish product placement.
“With powerful momentum, we are proud to see such tremendous growth for CBD Unlimited,” commented Chief Executive Officer and Chairman, Todd Davis. “As we look to 2020, we forecast demand to continue to increase. We have ramped up our operations tenfold. Because of this, we are confident that we will be able to keep up with the worldwide demand that we are experiencing. We are developing partnerships with some of the largest international retailers while supplying superior products to these new markets. We are continuously innovating our product line as our customers remain at the heart of our business. Overall, we are proud to introduce our exceptional suite of products to the South Africa and Puerto Rico markets as we expand our global reach.”
The Company recently announced it surpassed its nationwide year-end store goal in mass pharmacy and mass retail. As such, the Company continues to expand its national and international footprint as it has experienced over 500% annual growth in store count. The Company expects this growth to continue as it advances into new international markets.
PURA = Still attracting buyers after November 29, 2019, press release.
On November 29, 2019, Puration, Inc. (USOTC: PURA) announced the company has distribution for its CBD beverages on three continents with a fourth to follow soon. The company has distribution in North America, Europe and Africa and a toe hold in South America soon to be a firm foothold. PURA has scheduled to close the purchase of a Latin American company intended enable PURA to bottle CBD beverages in Latin America for the Latin American market. The closing is scheduled for next week, on Thursday, December 5, 2019. The legal Latin American cannabis market is anticipated to reach $9 billion by 2028. PURA has recently reconfirmed its $4 million revenue target for 2019 and an $8 million revenue target for 2020.
PURA recently closed an acquisition to enable PURA to bottle CBD Beverages in Europe for the European market. The acquisition initiative in Europe was driven by PURA recently signing a distribution agreement in Europe for its EVERx CBD Sports Water with other CBD infused beverages to follow. The initial European distribution agreement is estimated to add $4 million in sales next year. Management indicates that the potential of European distribution beyond the initial $4 million projection warrants the establishment of a local bottling capacity. The European market for CBD is projected to reach nearly US $17 billion by 2023. The bottling expansion in Europe is part of a bigger plan to expand bottling in Canada and Latin America.
MJNA = Still attracting buyers after November 26, 2019, press release.
On November 26, 2019, Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced that its subsidiary HempMeds® has partnered with Sezzle, a leading alternative digital payment platform, to offer customers cutting-edge payment alternatives.
HempMeds® customers can choose Sezzle at checkout to delay full payment for their items, at zero percent interest. Consumers receive their items right away and Sezzle pays merchants upfront and assumes all repayment risk. Sezzle requires a 25 percent down payment at the time of purchase and the remaining balance is automatically scheduled as three equal-installment payments to be paid every two weeks.
“For many, budgets can be tight during the holidays, and we want to keep working to show our customers that we’re always developing new methods to improve their experience,” said HempMeds® President Todd Morrow. “Partnering with Sezzle means that we can provide our customers with an easy way to lift some of the financial burden during this expensive time of year.”
HempMeds® was the first company to ever bring hemp-based cannabidiol (CBD) oil products to market in the U.S. and was also the first to make CBD products available in bulk for U.S. consumers. HempMeds® was also the first-ever company to receive historic federal government import approvals for its CBD products in the nations of Argentina, Brazil, Mexico, and Paraguay, as well as the first to have its CBD products listed in the Prescribers’ Digital Reference and one of the first to be certified by the U.S. Hemp Authority.
“The number of people searching for e-commerce outlets to purchase CBD has increased every year since 2017. In a study conducted at the University of California, San Diego, researchers found that online search volume for CBD in the U.S. increased 160.4 percent in 2018 compared with 2017 and is expected to increase by 117.7 percent in 2019 compared to 2018,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “With the number of new consumers becoming interested in purchasing CBD, we believe that Sezzle is a great opportunity to make our CBD products more accessible to people of all socioeconomic backgrounds.”
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