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Electra Meccanica Reports Second Quarter 2018 Results

VANCOUVER, Aug. 16, 2018 /PRNewswire/ – ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO; SOLOW) ("Electra Meccanica" or the "Company"), a designer and manufacturer of electric vehicles, today reported its financial results for the three-month period ended June 30, 2018.

Jerry Kroll, Chairman and CEO of Electra Meccanica, commented, "During the first half of 2018, our team worked to achieve several corporate milestones that prepared the Company for its next phase of growth. This includes a capital raise of $10 million and a successful uplisting to the NASDAQ Exchange in August 2018. As a new NASDAQ company, we are excited to expose our brand to institutional investors who share in our vision to close the last gas station in North America through the proliferation of electric vehicles."

"We are well underway with our plan to deliver the initial shipments of our revolutionary mass production SOLOs to customers in the fall of 2018 and to open our first U.S. sales location in Los Angeles. We continue to see increased interest in our SOLO and Tofino electric vehicles with the pre-order book growing in excess of $2.4 billion CAD as of June 30, 2018," concluded Mr. Kroll.

Recent Operational Highlights:

  • Completed USD$10 million underwritten public offering on August 13, 2018.
  • Uplisted to NASDAQ Capital Market and began trading its common shares and warrants under the symbols "SOLO" and "SOLOW", respectively, on Thursday, August 9, 2018.
  • Pre-order book of refundable deposits as of June 30, 2018 in excess of CAD$2.4 billion CAD.

Financial Results for the Second Quarter of 2018: 

Total revenue for the three months ended June 30, 2018, was CAD$279,366, compared with negligible revenue for the three months ended June 30, 2017. The increase in revenue was due to the acquisition of Intermeccanica International Inc.

General and administrative expenses for the three months ended June 30, 2018, were CAD$934,256, compared to CAD$445,146 for the three months ended June 30, 2017. This increase is primarily due to increased rent and office expenses, legal and professional fees, consulting fees and increased salary expenses.

Research and development expenses increased to CAD$1.7 million for the three months ended June 30, 2018, up from CAD$621,321 for the corresponding quarter ended June 30, 2017. This is primarily due to costs related to the development of the SOLO.

Operating loss for the three months ended June 30, 2018 increased to CAD$4.6 million, compared to an operating loss of $1.5 million in the corresponding quarter ended June 30, 2017.

Net loss for the three months ended June 30, 2018 was CAD$2.6 million, compared to CAD$1.6 million in the corresponding period in 2017.

Cash used in operations was CAD$2.9 million, compared with cash used in operations of CAD$1.0 million for the quarter ended June 30, 2017.

Cash and cash equivalents and short-term deposits were CAD$4.2 million as of June 30, 2018, compared with $1.6 million as of June 30, 2017. Subsequent to the end of the quarter cash equivalents and short term deposits increased to CAD$14.5 million as a consequence of the recent closing of the public underwriting.

About Electra Meccanica Vehicles Corp.:

Electra Meccanica is a designer and manufacturer of electric vehicles. The Company builds the innovative, all-electric SOLO, a single passenger vehicle developed to revolutionize the way people commute, as well as the Tofino, an elegant high-performance two seater electric roadster sports car. Both vehicles are tuned for the ultimate driving experience while making your commute more efficient, cost-effective and environmentally friendly.

Intermeccanica, a subsidiary of Electra Meccanica, has successfully been building high-end specialty cars for 59 years. The Electra Meccanica family is delivering next generation affordable electric vehicles to the masses.

For more information, visit www.electrameccanica.com.

Safe Harbor Statements

Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "anticipates", "estimates", "projects", "expects", "contemplates", "intends", "believes", "plans", "may", "will", or their negatives or other comparable words) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the prices of other electric vehicles, costs associated with manufacturing vehicles, the availability of capital to fund business plans and the resulting dilution caused by the raising of capital through the sale of shares, changes in the electric vehicle market, changes in government regulation, developments in alternative technologies, inexperience in servicing electric vehicles, labour disputes and other risks of the electric vehicle industry including, without limitation, those associated with the delays in obtaining governmental approvals and/or certifications. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the United States Securities and Exchange Commission (the "SEC") (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company’s periodic reports filed from time-to-time with the SEC.

Interim Consolidated Statements of Financial Position

(Expressed in Canadian dollars)

Note

June 30, 2018 

(Unaudited)

December 31, 2017

ASSETS

Current assets

Cash and cash equivalents

4

$

4,235,315

$

8,610,996

Receivables

5

627,677

243,639

Prepaid expenses

762,816

920,146

Inventory

274,518

232,903

5,900,326

10,007,684

Non-current assets

Restricted cash

108,995

Plant and equipment

6

4,705,516

1,393,683

Goodwill and other intangible assets

7

1,239,762

1,260,014

TOTAL ASSETS

$

11,954,599

$

12,661,381

LIABILITIES

Current liabilities

Bank overdraft and demand loan

9

$

$

123,637

Trade payables and accrued liabilities

8

2,132,302

1,123,790

Customer deposits

410,774

447,071

Shareholder loan

17

8,306

10,383

Promissory note

7

1,500,000

Deferred income tax

149,794

149,794

2,701,176

3,354,675

Non-current liabilities

Derivative liability1

10

1,306,603

3,655,690

TOTAL LIABILITIES

4,007,779

7,010,365

EQUITY

Share capital

11

28,919,134

22,718,282

Common share subscription

750,000

Share-based payment reserve

12

5,383,427

3,518,286

Deficit

(26,355,741)

(21,335,552)

TOTAL EQUITY

7,946,820

5,651,016

TOTAL LIABILITIES AND EQUITY

$

11,954,599

$

12,661,381

Interim Consolidated Statements of Comprehensive Loss

(Unaudited – Expressed in Canadian dollars)

3 months ended

6 months ended

Note

June 30,

2018

June 30,

2017

June 30,

2018

June 30,

2017

Revenue

$

279,366

$

$

445,499

$

Cost of revenue

192,651

295,319

Gross profit

86,715

150,180

Operating expenses

Amortization

6

77,386

30,294

128,415

55,204

General and administrative expenses

13

934,256

445,146

1,909,473

927,955

Research and development expenses

14

1,718,599

621,321

3,278,776

1,905,050

Sales and marketing expenses

15

196,614

165,972

476,244

290,238

Stock-based compensation expense

11

1,094,181

289,723

1,884,415

537,379

Share-based payment expense

622,877

622,877

4,643,913

(1,552,456)

8,300,200

(3,715,826)

Loss before other items

(4,557,198)

(1,552,456)

(8,150,020)

(3,715,826)

Other items

Accretion interest expense

20,502

40,779

Changes in fair value of warrant derivative

10

(1,860,027)

(3,026,054)

Foreign exchange loss/(gain)

(80,956)

2,009

(103,777)

7,931

Net and comprehensive loss

$

(2,616,215)

$

(1,574,967)

$

(5,020,189)

$

(3,764,536)

Loss per share – basic and fully diluted

$

(0.11)

$

(0.04)

$

(0.20)

$

(0.09)

Weighted average number of shares

outstanding – basic and fully diluted

11

24,590,906

21,326,700

24,571,944

21,157,904

Interim Consolidated Statements of Cash Flows

(Unaudited – Expressed in Canadian dollars)

3 months ended

6 months ended

June 30,

 2018

June 30,

 2017

June 30,

 2018

June 30,

 2017

Operating activities

Loss for the period

$

(2,616,215)

$

(1,574,967)

$

(5,020,189)

$

(3,764,536)

Adjustments for:

Amortization

77,386

30,294

128,415

55,204

Stock-based compensation expense

1,094,181

289,723

1,884,415

537,379

Non-cash services

622,877

622,877

Interest accretion expense

20,502

40,779

Change in fair value of warrant derivative

(1,860,027)

(3,026,054)

Changes in non-cash working capital items:

Receivables

(287,506)

161,302

(384,038)

87,214

Prepaid expenses

44,058

(16,997)

157,330

17,480

Inventory

(16,425)

(41,615)

(3,475)

Trades payable and accrued liabilities

(10,156)

42,978

442,390

105,393

Customer deposits

2,930

9,500

(36,297)

32,750

Net cash flows used in operating activities

(2,948,897)

(1,037,665)

(5,272,766)

(2,891,812)

Investing activities

Restricted cash

(1,092)

(108,995)

Expenditures on plant and equipment

(1,677,971)

(10,314)

(2,853,874)

(137,510)

Purchase of Intermeccanica

(100,000)

Expenditures on trademarks and patents

(21,190)

(35,253)

Net cash flows used in investing activities

(1,679,063)

(31,504)

(2,962,869)

(272,763)

Financing activities

Repayment of bank loan

(123,637)

Repayment of shareholder loan

(1,038)

(2,077)

Repayment of promissory note

(1,500,000)

Proceeds on issuance of common shares – net

of issue costs

3,002,986

456,107

5,485,668

837,064

Net cash flows from financing activities

3,001,948

456,107

3,859,954

837,064

Decrease in cash and cash equivalents

(1,626,012)

(613,062)

(4,375,681)

(2,327,511)

Cash and cash equivalents, beginning

5,861,327

2,201,834

8,610,996

3,916,283

Cash and cash equivalents, ending

$

4,235,315

$

1,588,772

$

4,235,315

$

1,588,772

SOURCE Electra Meccanica Vehicles Corp.

Posted in Client News| Tagged |

Sean Folkson, CEO of Nightfood, Inc., Discusses Recent Company News and Industry Trends in a New Audio Interview with SmallCapVoice.com

AUSTIN, Texas, Aug. 16, 2018 (GLOBE NEWSWIRE) — SmallCapVoice.com, Inc. and Nightfood, Inc. (OTC:NGTF), the company pioneering the projected multi-billion-dollar nighttime snacking category, announced today that the Company is featured in a new audio interview at SmallCapVoice.com, Inc.

The interview featuring Nightfood, Inc.’s CEO, current news and industry trends can be heard at https://smallcapvoice.com/blog/8-15-18-smallcapvoice-interview-with-Nightfood-holdings-inc-ngtf/.

Nightfood CEO Sean Folkson, called in to SmallCapVoice.com, Inc. to go over the recent news and highlights for the Company here in Summer of 2018.

Recently, the Company announced that Tyler Eifert, of the NFL’s Cincinnati Bengals, has joined the Nightfood team as a brand ambassador. Eifert, a 27-year-old tight end who was an All-American while playing college football at the University of Notre Dame, earned NFL Pro Bowl honors in 2016.

It was also announced that the Company is in talks with many other prominent athletes as it builds a world-class ambassador base in preparation of the launch and rollout of Nightfood ice cream beginning next quarter.

"I’m continuously humbled and honored by the tremendous talent we’re able to attract in all areas," stated Folkson. "I view this as a clear sign of the power of this opportunity and what the coming months, quarters, and years hold for the company and our shareholders. We enjoy being able to share our updates with our investors and the SmallCapVoice.com listening audience.”

For more information, visit http://ir.Nightfood.com and http://Nightfood.com

About SmallCapVoice.com. Inc.

SmallCapVoice.com, Inc. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks in which they are interested. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and its services, please visit https://smallcapvoice.com/blog/the-small-cap-daily-small-cap-newsletter/

About Nightfood Holdings:

Nightfood Holdings, Inc. (NGTF), operates both Nightfood, Inc. and MJ Munchies, Inc.

Nightfood, Inc., “The Nighttime Snack Company”, is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. According to IRI Worldwide, 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks. The Company has developed a dynamic infographic at http://NightSnacking.com as a definitive consumer and media resource clearly illustrating the size and scope of the largely untapped nighttime snack category.

Market research giant Mintel recently released a report identifying nighttime specific food and beverages as one of their most “compelling and category changing” trends for 2017 and beyond.

Consumer’s most popular choices are cookies, chips, and ice cream. Nightfood creates, manufactures, and distributes snacks formulated to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.

MJ Munchies, Inc. was recently formed as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”. As the legal landscape around CBD and cannabis related products continues to change and evolve, MJ Munchies will continue to explore, identify, and capitalize on opportunities clearly defined as legal. The Company believes tremendous opportunities currently exist to launch successful and compliant products in this space, and that such opportunities will continue to grow over time.

For more information, visit http://ir.Nightfood.com and http://Nightfood.com

Questions can be directed to investors@Nightfood.com

Forward Looking Statements:

This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:

Media Contact:
Tim Sullivan
media@Nightfood.com
732-816-0239

Investor Contact:
Stuart Smith
investors@Nightfood.com
888-888-6444, x3

Posted in Client News| Tagged |

8-15-18 SmallCapVoice Interview with Nightfood Holdings Inc. (NGTF)

NightFood CEO Sean Folkson, called in to SmallCapVoice.com, Inc. to go over the recent news and highlights for the Company here in Summer of 2018. Recently, the Company announced that Tyler Eifert, of the NFL’s Cincinnati Bengals, has joined the NightFood team as a brand ambassador. Eifert, a 27 year-old tight end who was an All-American while playing college football at the University of Notre Dame, earned NFL Pro-Bowl honors in 2016.

NightFood Holdings, Inc. (NGTF), operates both NightFood, Inc. and MJ Munchies, Inc.

NightFood, Inc., “The Nighttime Snack Company”, is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. According to IRI Worldwide, 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks. The Company has developed a dynamic infographic at http://NightSnacking.com as a definitive consumer and media resource clearly illustrating the size and scope of the largely untapped nighttime snack category.

Market research giant Mintel recently released a report identifying nighttime specific food and beverages as one of their most “compelling and category changing” trends for 2017 and beyond.

Consumer’s most popular choices are cookies, chips, and ice cream. NightFood creates, manufactures, and distributes snacks formulated to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.

MJ Munchies, Inc. was recently formed as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”. As the legal landscape around CBD and cannabis related products continues to change and evolve, MJ Munchies will continue to explore, identify, and capitalize on opportunities clearly defined as legal. The Company believes tremendous opportunities currently exist to launch successful and compliant products in this space, and that such opportunities will continue to grow over time.

For more information, visit http://ir.nightfood.com and http://nightfood.com

This interview may include forward looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. SmallCapVoice.com, Inc. received $875 from the company on 5-31-18 for 30 days of service. SmallCapVoice.com, Inc. received $2,500 from the company on 8-10-18 for 30 days of service.

NightFood (NGTF) Ice Cream Launch Update: Kicking Off Brand Ambassador Program With NFL Pro-Bowl Tight End Tyler Eifert

Tarrytown, NY , Aug. 13, 2018 (GLOBE NEWSWIRE) — NightFood, Inc. (OTC: NGTF), the company pioneering the projected multi-billion dollar nighttime snacking category, is pleased to announce that Tyler Eifert, of the NFL’s Cincinnati Bengals, has joined the NightFood team as a brand ambassador.

Eifert, a 27 year-old tight end who was an All-American while playing college football at the University of Notre Dame, earned NFL Pro-Bowl honors in 2016.

“Tyler boasts a great sense of humor, over 150,000 social media followers, and junk cravings almost nightly,” commented Adam Elbendary of Ready Set Studios, NightFood’s ambassador program manager. “We think he’s going to be a perfect fit, and we love his enthusiasm for the brand.”

“When I first learned about NightFood, I just thought the idea was absolute genius,” Eifert added. “This is something a lot of guys in the league can really relate to. I look forward to sharing NightFood with the public, and with my teammates.”

“We’re excited to have the opportunity to share in the upside with an up-and-coming brand that’s obviously on an amazing path,” added Brent Beck, Eifert’s marketing agent who arranged the relationship. “It’s so easy to imagine NightFood just blowing up, with over two hundred million Americans snacking at night and everybody wanting better sleep.”

In one of the most often-cited transactions of a similar nature, it is estimated that David Wright made up to $20 million when VitaminWater was acquired by Coke for over $4 billion in 2007. Wright had taken a very small equity piece of the young company to be a spokesperson and brand ambassador.

“We’re thrilled to have Tyler on board,” exclaimed NightFood CEO Sean Folkson. “As we build an all-star team of ambassadors in advance of the ice cream launch, we’re being contacted daily by social media stars and big-name athletes, including Olympic gold medal winners, NASCAR drivers, golfing legends, and more. Even a former NBA MVP. The buzz around NightFood is just electric right now, and everybody seems to sense this category is coming hard.”

NightFood has eight flavors of sleep-friendly ice cream currently under development. Production is expected in Q4, with product available for sale online immediately thereafter, and rolling into supermarket distribution during Q1 of 2019.

About NightFood Holdings:

NightFood Holdings, Inc. (OTC: NGTF), operates both NightFood, Inc. and MJ Munchies, Inc.

NightFood, Inc., “The Nighttime Snack Company”, is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. According to IRI Worldwide, 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks. The Company has developed a dynamic infographic at http://NightSnacking.com as a definitive consumer and media resource clearly illustrating the size and scope of the largely untapped nighttime snack category.

Market research giant Mintel recently released a report identifying nighttime specific food and beverages as one of their most “compelling and category changing” trends for 2017 and beyond.

Consumer’s most popular choices are cookies, chips, and ice cream. NightFood creates, manufactures, and distributes snacks formulated to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.

MJ Munchies, Inc. was recently formed as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”. As the legal landscape around CBD and cannabis related products continues to change and evolve, MJ Munchies will continue to explore, identify, and capitalize on opportunities clearly defined as legal. The Company believes tremendous opportunities currently exist to launch successful and compliant products in this space, and that such opportunities will continue to grow over time.

For more information, visit http://ir.nightfood.com and http://nightfood.com

Questions can be directed to investors@nightfood.com

Forward Looking Statements:

This current press release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Media Contact:
Tim Sullivan
media@nightfood.com
732-816-0239

Investor Contact:
Stuart Smith
investors@nightfood.com
888-888-6444, x3

Posted in Interviews| Tagged |

Terra Tech Corp. Announces Partnership with Valiente Group to Produce Cannabis-Infused, Non-Alcoholic Beverages

IRVINE, Calif., Aug. 14, 2018 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX: TRTC), (“Terra Tech” or the “Company”) a vertically integrated cannabis-focused agriculture company, is pleased to announce that it has partnered with the Valiente Group, a beverage production company that specializes in cannabis infusion, to produce a line of cannabis-infused beverages under the IVXX brand.

The Company, through the partnership, is currently developing a range of non-alcoholic, cannabis-infused beverages, including ‘champagne’, ‘apple cider’, lemonade ‘margarita’ mix, zero calorie lemon lime soda and cherry lime sparkling water. The infusion technology will be powered by SORSE branded technology, a product of Tarukino Holdings, a patent pending Emulsion process which leaves beverages without oily residues and without cannabis flavor. The Company is simultaneously developing a single shot flavorless, odorless 5 milligram and 10 milligram shot that can be added to any beverage or craft cocktail for at-home infusion.

Additionally, the Company is building-out a large-scale production and bottling facility at its Dyer Road facility located in Santa Ana, California, for distribution within the California Market.

“Our relationship with the Valiente Group will enable our initial entrance into the cannabis-infused, non-alcoholic beverage market, which is among the least crowded segments in the adult-use cannabis industry and presents a tremendous first mover opportunity for Terra Tech,” Derek Peterson, CEO of Terra Tech, stated. “The build out of our Dyer Road facility will serve the growing demand for cannabis-infused beverages in the California Market and, in the future, we expect it to enable distribution to other markets, including Nevada.”

To be added to the Terra Tech email distribution list, please email TRTC@kcsa.com with TRTC in the subject line.

About Terra Tech

Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Blüm’s retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada and California. Blüm offers a broad selection of cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces cannabis-extracted products for regulated medical cannabis dispensaries throughout California and medical and adult-use dispensaries in Nevada. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Ahold, Aldi, Meijer, Kroger, Stop & Shop and others nationwide. Terra Tech’s MediFarm LLC subsidiaries are focused on medical and adult-use cannabis cultivation and permitting businesses throughout Nevada.

For more information about Terra Tech Corp visit: http://www.terratechcorp.com/
For more information about IVXX visit: http://ivxx.com/
For more information about Blüm Nevada visit: http://letsblum.com
For more information about Blüm Oakland visit: http://blumoak.com/
Visit us on Facebook @ https://www.facebook.com/terratechcorp/timeline
Follow us on Twitter @terratechcorp
For more information about Edible Garden visit: http://www.ediblegarden.com/
Visit Edible Garden on Facebook @ https://www.facebook.com/ediblefarms?fref=ts
Visit IVXX on Facebook @ https://www.facebook.com/ivxxbrand?fref=ts

Cautionary Language Concerning Forward-Looking Statements

Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.’s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.’s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.’s website does not constitute a part of this release.

CONTACTS
Terra Tech Corp.

Philip Carlson
KCSA Strategic Communications
TRTC@kcsa.com
212-896-1238

Posted in Client News| Tagged |
Progressive Care, Inc. (RXMD)

Progressive Care Inc. Reports Largest Six-Month Revenue Period in Company History in Q2 2018 Financial Filing

Progressive Care, Inc. (RXMD)

MIAMI, Aug. 14, 2018 (GLOBE NEWSWIRE) — Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced financial results for the quarter ending June 30, 2018, and provided an overview of recent operational highlights along with updates on the Company’s strategies.

Progressive Care dispensed more than 67,000 prescriptions in Q2 2018, a 21.45% increase over Q2 2017, and 133,000 prescriptions for the six-month period ending June 30, a 23% increase over the same period in 2017. Pharmacy revenue for the six-month period ending June 30, 2018, was approximately $10.3 million, the largest six-month period in the Company’s history and an increase of 3.41%. Progressive Care’s total assets were $3,503,769 as of June 30, 2018, compared to $2,447,865 as of June 30, 2017 — an increase of 43.13%. The Company continues to generate positive cash flow from its operations, with positive operational cash flow of approximately $69,000 for the six-month period ending June 30, 2018.

Progressive Care also reported raising over $1.4 million for 340B charitable organizations during Q2 2018, and $2.7 million total for the six-month period ending June 30, 2018. The Company’s total reported revenue included approximately $125,000 in fees earned on dispensing prescription medications to patients under 340B programs managed by two non-profit healthcare organizations in Florida. The Company expects expanded revenue growth through the signing of two new 340B contracts in July 2018. The contracts with Hope and Help Center of Central Florida and Care 4 U Management will begin on Oct. 1, 2018.

“We are proud to announce another quarter of significant growth compared to last year,” said S. Parikh Mars, CEO of Progressive Care Inc. “During this quarter, we completed our acquisition of Touchpoint Rx, continued developing our healthcare technological offering with the introduction of the PharmCo Smart-Pack Pouch Packaging system and the development of our own proprietary tele-pharmacy software called Tele-PharmCo.”

Mars continued: “Finally, through the launch of our alternative pain management therapies, we were able to begin diversifying Progressive Care’s suite of services and further position ourselves as a preferred online provider of healthcare resources for patients, physicians and providers. We hope that through these efforts, Progressive Care will be able to continue delivering increased value to our shareholders.”  

Progressive Care anticipates that future growth will be driven by continued expansion into new market territories, concentrated efforts toward developing its compliance and adherence services provided to medical providers, and enhancement of technological opportunities that boost loyalty and customer satisfaction. Areas of current development include market penetration of Palm Beach and Martin Counties through the acquisition of Touchpoint Rx, LLC; the development of its Tele-PharmCo platform for its wholly owned subsidiary, PharmCo, LLC; the development and deployment of its online prescription management solution; and implementation of MTM protocols.

SECOND QUARTER 2018 HIGHLIGHTS
During the second quarter of 2018, Progressive Care Inc. achieved the following milestones and significant events:

Reported record-breaking year-over-year sales and growth numbers
In Q2 2018, the Company reported a total of $10.3 million in revenue, the largest single six-month period in its history to date. Progressive Care also experienced increases in prescriptions filled, reporting a 21.45% increase compared to the same quarter in 2017. Progressive Care’s pharmacy services revenue growth is a result of the Company’s expanding breadth of services, manufacturer price increases, new drugs coming to market, new indications for existing drugs, volume growth with current clients, and addition of new customers due to its focus on higher patient engagement and clinical expertise.  

The Company dispensed a total of 66,800 prescriptions in Q2 2018, a 21.45% increase over Q2 2017. Progressive Care’s total assets were $3,503,769 as of June 30, 2018, compared to $2,447,865 as of June 30, 2017 — an increase of 43.13%.

Furthered growth and expansion plans through pharmacy acquisition
The Company executed a definitive agreement to purchase the Touchpoint Rx pharmacy in Palm Beach County. Under this agreement, PharmCo assumed all day-to-day management of the pharmacy, which included assumption of all revenue and expenses. The acquisition will facilitate the Company’s growth plans by decreasing the cost of servicing its delivery radius into Martin County, which includes Jupiter and Stuart, and will decrease costs of expansion and increase prescription dispensing efficiency.

Expansion of robot pharmacy machinery fleet 
The Company purchased and installed a new Automated Pouch Packaging System for its Miami-Dade County PharmCo location. Progressive Care’s wholly-owned subsidiary, PharmCo, LLC, is one of the first in South Florida to offer this new packaging system PharmCo Smart-Pack that allows patients to receive customized dosage pouches according to their daily prescription needs.

Continued development of technology driven healthcare service options
The Company rolled out its online prescription management solution allowing PharmCo patients to visit www.pharmcopharmacy.com and access the company’s prescription management platform, making the prescription request process even easier. The web-based forms are user-friendly and fully integrated for easy processing and quick turn-around on new, transfer and refill prescriptions.

Additionally, the Company started the development of its own proprietary tele-pharmacy software, Tele-PharmCo, to digitally communicate with patients, physicians, pharmacists and caretakers across the world. This state-of-the-art multi-platform technology will be capable of running on kiosk, desktop and mobile devices. The move comes as part of Progressive Care’s overall effort to expand its current kiosk program.

Provided further education on alternative treatments to opioids
The Company launched a new program designed to educate patients and providers on treatment alternatives to opioids available through the company. The campaign is part of the Company’s initiative to spread awareness of available alternative therapies that can improve a person’s quality of life and, in many cases, prevent tragedy caused by opioid abuse and solve the nationwide epidemic.

Maintained steady investor relations activity
The Company actively communicated with its customers and shareholders through various investor announcements.

These efforts included:

  • Acting to alleviate pressure caused by naked short positions in the Company’s stock. The Company contacted several broker/dealers, clearing firms and reached out to FINRA’s Division of Market Regulation about the problem naked shorting is causing in the market for the Company’s securities.
  • Partnering with CMW Media as its public relations agency of record as part of Progressive Care’s overall effort to expand marketing and communications activities for the company and all subsidiaries.
  • Engagement with The Benchmark Company, LLC as a financial advisor as it moves forward with the process of re-registration with the U.S. Securities and Exchange Commission and pursuing a listing on a national securities exchange.

SECOND QUARTER 2018 FINANCIAL RESULTS

Net Revenue: For the six-month period ending June 30, 2018, Progressive Care showed net sales of $10,268,886, as compared to net sales of $9,930,422 for the six-month period that ended June 30, 2017, an increase of 3.41%.

Balance Sheet: Total Assets for the company were $3,503,769 as of June 30, 2018, compared to $2,447,865 as of June 30, 2017, an increase of 43.13%.

Net Cash Provided by Operating Activities: Operating cash flow increased from ($272,769) to $69,444 year-over-year, which is an increase of over 125.45%.

For more information about Progressive Care, please visit the company’s website.

Connect and stay in touch with us on social media:

Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS

PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx

About Progressive Care Inc. 
Progressive Care Inc. (OTCQB: RXMD), through its PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long term care facilities, and health practice risk management.

Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target,” “intend” and “expect” and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

Public Relations Contact: 
Tory Patterson, CMW Media 
Tory@cmwmedia.com 
www.cmwmedia.com

Investor Relations Contact: 
Armen Karapetyan, Progressive Care 
Senior Advisor Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com

Posted in Interviews| Tagged |

Franchise Holdings International Worksport Trademark Announcement

FNHI Cleared to Complete the Process of Acquiring its Trademark for Worksport

Toronto, Ontario, Canada, Aug. 13, 2018 (GLOBE NEWSWIRE) — Franchise Holdings International, Inc. (OTC: FNHI), the parent company of Worksport LTD Inc., an innovative manufacturer of high quality, functional, and aggressively priced tonneau / truck bed covers for the light truck market, announces that it has been cleared to acquire its Trademark for Worksport. This completes the final step in the company’s official name change from its former operating name, Truxmart.

The legal significance is that the trademark is now assumed to be granted. This is the result of a lengthy process of having the previous mark marked as abandoned by its previous registered owner. This was accomplished with Worksport’s world-class legal team at the direction of CEO Steven Rossi, who has a strong working knowledge of Intellectual Property rights.

This major victory for FHHI and its Worksport subsidiary cleared the way for the company to obtain its logo and word trademarks in Canada, in the United States and in China. This is the highest level of protection and is also bears the highest level of intrinsic value to the company. Once granted, these trademarks mark that the final barrier to entry into our coveted market in the automotive industry has been overcome, something few companies have accomplished. According to experts in the legal community, these types of legal challenges have about a one in a million chance of being granted.

“We believe that the name Worksport has immeasurable value and we are committed to securing it,” said FNHI CEO Steven Rossi. “We were told that such Petitions never work but we persevered and against all odds we were successful.”

FNHI invests in high growth, high revenue opportunity companies. These are companies that are going to be profitable and have explosive revenues. And they have a proof of concept that can be monetized very quickly to produce earnings and revenue.

About Franchise Holdings International
Worksport, Franchise Holdings International’s wholly owned subsidiary, was founded in 2011 to breathe innovation into the existing tonneau / truck bed cover market. Tonneau / truck bed covers have remained much the same in price and design since 2005 with one main company controlling a majority of the tonneau / truck bed cover market. This dynamic market segment is in need of a new innovative manufacturer of high quality, functional, and aggressively priced tonneau / truck bed covers. Worksport has developed multiple products for all of the most prominent pickup trucks available in North America. Details of most products can be found at www.Worksport.com. Worksport sells its products through master warehouse distributors, dealers, and online retailers in Canada and the U.S.

Forward-Looking Statements
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc. control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, contact:
Franchise Holdings International
investors@franchiseholdingsinternational.com
https://franchiseholdingsinternational.com/
1-888-554-8789
Press Release Support provided by Investor Relations Digital

Posted in Client News| Tagged |