American Green (OTCMKTS:ERBB) has announced that the amount it borrowed for sustaining operations during the development period dropped by more than 70% in the last 12 months compared to the previous year.
American Green’s borrowing reduces
In the past year since April 1, 20219, to the end of March 2020 the company indicated that it had borrowed only $450,000. This is in comparison with the period between April 1, 2018, and March 31, 2019, when it borrowed $1.6683 million. Therefore this represents a drop in borrowing or more than 70%,
The company’s President David Gwyther indicated that this means the shareholders expect much fewer debt conversions that were due to the need to borrow to fund operations. Therefore the decrease in borrowing will slow the rate of share conversion from loans adding to the company’s outstanding shares.
Among the reasons why American Green doesn’t need much of the borrowed cash is because of the recent “Sweet Virginia” expansion. This is the 12,000 square feet license facility located in Phoenix, where it cultivates premium cannabis for licensed dispensaries in Arizona. Similarly, it might be due to the growth of the company’s CBD Store that is anticipated to record its best year in terms of profits and sales to date.
EZ WEED to use American Green AGM kiosks
The company is on track of selling several AGM vending kiosks this year than in the previous years. Recently the company scored a deal with EZ WEED that had picked its smart AGM vending solution for its business in collaboration with cannabis dispensaries. This is good news considering the vending kiosks are becoming popular because of the social distancing rules. With the COVID-19 pandemic and social distancing restriction, people are p[preferring to buy snacks and drinks from vending machines to eliminate human contact.
Retired NFL line back Lamarr Houston backs EZ Weed, which is operated by Laureen Smee. According to Smee, the partnership with American Green is important for the company to be the first mainstream and national cannabis vending service provider.
Australis Capital Inc (OTCMKTS:AUSAF) Amends Certain Terms for the Purchase of Passport Technology Inc.
Australis Capital Inc (OTCMKTS:AUSAF) has been seeking additional means of increasing its revenue and profitability. So when an opportunity became available, the company grabbed it quickly, and the said opportunity was an agreement to acquire Passport Technology Inc.
On June 25, the two signed the deal. They agreed that AUSA would pay $2 million of its shares, Body and Mind Inc., if it achieved over $7 million in revenue in 2021. There will be an additional $2 million shares of AUSA and BaM if over $8 million in revenue is achieved in 2021. Finally, if Passport EBITDA for 2021 would be above $3 million, AUSA would part with 25% of revenue more than $7 million.
Additional terms of contract signings by Passport Technology
Passport Technology provides cash access services to casinos to increase gaming revenue; it uses cash and cashless payment portals such as ACMowl, CashlessValet, CashValet, and POSpod. Since the start of the year, the company has experienced accelerated growth alongside new agreements.
The addition of 16 casinos in British Columbia and Alberta has necessitated the need for amending the terms of the earnout agreed upon on June 25. The company says the new additions are likely to bring $12 million of revenue in 2021 and $4 million of operating income.
The two agree to amend the terms according to CEO of AUSA, Cleve Tzung, who says, “We are pleased with the progress that Passport continues to make in its markets and are happy that Passport is willing to back up its confidence with these amended terms.”
A Sneak Peek into the Newly Agreed Terms of the Earnout
More business sites mean more revenue. Hence AUSA will be required to make payment of $2 million in shares of AUSA and BaM if they achieve over $8.5 million in revenue in 2021. There will be another $2 million in shares of AUSA and BaM for over $9.5 million. The final one would be 25% of revenue over $8.5 million in 2021. This would happen in the event Passport EBITDA for 2021 was to attain anything above $3 million.
Generex Biotechnology Corporation (OTCMKTS:GNBT) Launches A Vaccine Development Effort to Address the Newly Identified Swine Influenza Virus
For the last couple of months, the world has experienced panic and disarray from the outbreak and the rapid spread of coronavirus. However, it is now emerging that there could be an impending threat of a newly identified virus. According to Generex Biotechnology Corporation (OTCMKTS:GNBT), the virus, which killed almost 500,000 people globally in 2009, is similar to swine flu, though with a few changes.
Of particular concern is that the virus is carried by pigs and could become a viral pandemic if not closely monitored. Its high levels of antibodies to the G4 EA H1 influenza virus is a clear indicator that it can infect humans.
The Launch Of Vaccine Development Efforts To Address The Pandemic Threat
According to Prof Kin-Chow Chang, the new virus may not be an immediate problem. However, it should not be ignored because flu viruses are constantly changing. Speaking to BBC Chang noted, “Right now we are distracted with coronavirus and rightly so. But we must not lose sight of potentially dangerous new viruses.”
Meanwhile, NuGenerex Immuno-Oncology is putting together efforts to develop a vaccine, which could help mitigate the spread of the virus. The company’s CEO Joseph Moscato says that through its Ii-Key immune activation technology, they have what it takes to create targeted and highly specific vaccines.
Ii-Key peptide vaccines have previously demonstrated quick and effective responses to viral and cancer antigens without signs of cytokine storm effects in the two trials conducted to date. Thus, it is a perfect fit for inclusion in a pandemic preparedness portfolio. Besides, NGIO has the infrastructure and extensive experience responsiveness to pandemic threats.
We Need To Be Vigilant Even During the COVID-19 Pandemic
COVID-19 pandemic seems to have taken away all the attention to any other health matters. This is according to the World Health Organization, which emphasizes the need for vigilance. Farmed animals, which sometimes act as a source of the pandemic virus, are in constant contact with humans. On the other hand, new pathogens are emerging every day.
WHO further outlines that flu could occur anytime, and as a result, there is frequent review of information on both new and old viruses. The review happens during the influenza vaccine composition meetings held twice a year.
FSD Pharma Inc. (NASDAQ:HUGE) Says Results from Phase 1 Study of Ultramicronized PEA Are Favorable
The world is into panic and disarray due to the COVID-19 crisis, which has claimed both lives and livelihoods. Every economy, including the most powerful, is desperate for a quick turn-around of things. The desperation triggered FSD Pharma Inc. (NASDAQ:HUGE) to join hundreds of pharmaceutical companies focused on developing a possible coronavirus treatment.
The company has completed a Phase 1 study for FSD201and has reported favorable topline results. The study carried out at the Alfred Hospital enrolled 48 healthy adult men and women. Single doses ranging from 600 mg to 2400 mg tablets were administered two times daily in an ascending form and multiple ascending doses ranging from 600 mg to 1200 mg in the form of tablets.
The Topline Results Are a Ground-Breaking Milestone for the Company
The phase 1 results from the ultramicronized palmitoylethanolamide (PEA) study demonstrated that it was safe and tolerable. Even though there were self-limiting side effects, which may not have directly linked to the drug of study, the results did not outline any serious adverse events because no subjects withdrew, and all eligible subjects completed all doses.
“We are delighted to be reporting favorable topline findings … I congratulate our pharmaceutical team, led by Dr. Edward Brennan. This study has also successfully validated the considerable scientific literature published over the years in Europe…,’’ Executive Co-Chairman & CEO, Raza Bokhari, clarified.
FSD Pharma is also making an effort to help address the opioid crisis
The biotech’s focus is to develop a forceful pipeline of FDA-approved synthetic compounds over time, which will meet both long-term and short-term needs of the human body. The compounds should treat diseases of the central nervous system, GI tract, autoimmune disorders of the skin, and the musculoskeletal system.
Meanwhile, through its wholly-owned subsidiary, FV Pharma, a licensed producer of cannabis, FSD Pharma is making every effort to address the opioid crisis. Having been authorized under Canada’s Cannabis Act and Regulations, the company says the development of opioid-sparing prescription drugs is underway. It is currently operating a 25,000 square feet facility in Cobourg, Ontario, where it cultivates cannabis.