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New to The Street / Newsmax TV Announces Episode #417, Nine Corporate Interviews for this Week’s TV Broadcast, Sunday, December 18, 2022, Hour Slot 10-11 AM ET

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NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) — FMW Media’s New To The Street / Newsmax TV announces the broadcasting line-up of its nationally syndicated 1-hour TV show this Sunday, December 18, 2022, airing time 10-11 AM ET.

New to The Street’s 417th TV show line-up features the following nine (9) corporate interviews:

1). Quantum Computing- Quantum Computing, Inc.’somputing, Inc.’s (NASDAQ: QUBT) ($QUBT) interview with Bill McGann, Chief Technology Officer.

2). Ecology Solutions – VRM BioLogik Group’s /The Sustainable Green Team’s (OTCQX: SGTM) ($SGTM) interviews with VRM Biologic Group’s Founder, Ken Bellamy, and CEO, Kellie Walters.

3). American Made Product – American Rebel, Inc.’s (NASDAQ: AREB) ($AREB) interview with Andy Ross, Chairman, and CEO.

4). Hemp Cigarettes – Hempacco Co., Inc.’s (NASDAQ: HPCO) ($HPCO) interviews with Sandro Piancone, Co-Founder/CEO, and Dr. Justin Titus, Chairman.

5). Cryptocurrency- LGCY Network’s (CRYPTO: LGCY) ($LGCY) / Quantum International Corp.’s (OTCPink: QUAN) ($QUAN) interview with Justin Waiau, Project Manager at LGCY Networks / CEO at Quantum International Corp / LootUP.

6) Specialty Pharmacy – Golden Developing Solutions, Inc.’s (OTCPink: DVLP) ($DVLP) interview with Stavros Triant, Chief Executive Officer.

7). Email/Messenger Privacy Solutions – Sekur Private Data, Ltd.’s (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) interview with Alain Ghiai, CEO.

8). Consumer Products – Green Globe International, Inc.’s (OTCPink: GGII) ($GGII) interview with Dr. Stuart Titus, Chairman of The Board.

9). “Sekur Privacy & Sekur Security Segment” interview with internet privacy expert Mr. Alain Ghiai, CEO, Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) (Sekur®).

From the Nasdaq MarketSite studio, Bill McGann, Chief Technology Officer of Quantum Computing, Inc. (NASDAQ: QUBT) ($QUBT) (“QCI”) talks with New to The Street’s Co-Hosts Jane King and Hunter Gaylor. Engineers and scientists use quantum computers to solve some of mankind’s more complex problems. But Noisy Intermediate Scale Quantum (NISQ) computers are significantly limited in their usefulness for solving complex real-world problems. Bill explains what makes Quantum Computing different than competitor products and how the Company’s Entropy Quantum Computer (EQC) is a revolutionary approach to quantum computing. EQC uses the environment’s noise sources, which other quantum computer systems ignore or cannot process, and optimizes that data to solve complex problems with multiple variables. Inventory supply chains, transportation logistics, finance, and medical services are industries with many variables interacting that need a reliable and affordable solution for problems. Bill explains a case study using EQC with a bank looking to improve monetary fraud detection and how the Company successfully helped the bank with new fraud alert tools. Many other industries can quickly deploy a ready-to-run QCI solution. With a low environmental footprint, hardware that runs at room temperature, and processes solutions based on all input variables, Quantum Computing, Inc. can offer time-sensitive solutions without extraordinary cost to deploy. The on-screen QR code is available during the show; download or visit Quantum Computing, Inc.https://www.quantumcomputinginc.com/.

New to The Street airs TV Host Jane King’s Nasdaq MarketSite studio interview with VRM BioLogik Group’s Founder, Ken Bellamy, and CEO, Kellie Walters. Ken talks about the 2023 COP28 Climate Change Conference and explains to viewers the leadership initiative in Dubai with a desert waste program. Using VRM BioLogiks hydrosynthesis technology and The Sustainable Green Team (OTCQX: SGTM) ($SGTM) mulching methods, the small desert area is growing water and significantly improving soil nutrients and microbes. From the air, one can see the improved soil composition compared to the surrounding desert, capable of growing crops. Kellie talks about the invitation to SGTM’s inaugural global summit in Florida on December 15-16, 2022. As featured guests and keynote speakers, VRM explains the business collaboration and relationship between VRM and SGTM. SGTM has a distribution agreement with VRM to bring products and technology into the North American market. Kellie sees the summit as a great venue to explain the HumiSoil product that greatly improves all soil types and increases worldwide agricultural yields. Ken details how both human and organic waste can be used together and treated accordingly to create usable soils for crop yields. The US retail market for small farms and home gardeners is great for HumiSoil. With the US drought, lawns and gardens can use a product that grows water and maintains and improves the soil. The Company expects a fantastic 2023 operational year and remains steadfast on its mission of restoring topsoil’s water content and nutrition for 25% of the globe’s arable lands, millions of acres worldwide. The on-screen QR code is available during the show; download or visit VRM BioLogik Grouphttps://www.vrm.science/ and The Sustainable Green Teamhttps://www.thesustainablegreenteam.com/.

Andy Ross, Chairman/CEO of America Rebel, Inc. (NASDAQ: AREB) ($AREB), is back on New to The Street giving a corporate update. Speaking with TV Host Jane King from the Nasdaq MarketSite studio, Andy talks about the Company’s “American Made” products and why he believes American Rebel is “America’s Patriotic Brand.” With gun safes, weapon lockers, concealed-carry weapons (CCW) apparel and backpacks, and its e-bike, sales continue to grow strongly. The Company has five distribution centers and about 400 retail outlets selling American Rebel products. Andy explains the recent acquisition of the original equipment manufacturer of the Champion and Superior products and how that is accretive to The Company’s operations. For ten years, Andy had an Outdoor Cable channel show about bow hunting; as the show grew, he wrote songs played during those TV airings. His one song, “American Rebel” inspired him to start the Company in 2015. The Company’s goal is to create all sorts of “American Rebel” products to grow their brand name recognition. The Company’s e-bike is just one example of a branded product they sell. The e-bike market is growing, and the high-quality bike and its price-point constitute a good consumer purchase. American Rebel will feature its e-bike and other products at the upcoming SHOT trade show in Las Vegas in January 2023. Viewers can learn more about the Company’s mission and products through its strong social media presence, websites, and websites like www.americanrebel.com and www.andyross.com. The on-screen QR code is available during the show; download or visit America Rebel, Inc. – http://www.americanrebel.com/.

From the Nasdaq MarketSite studio, TV Host Jane King and viewers learn more from Hempacco Co., Inc.’s (NASDAQ: HPCO) ($HPCO) Sandro Piancone, Co-Founder/CEO, and Dr. Stuart Titus, Chairman. The Company’s hemp Disrupting Tobacco™ products are hemp cigarettes, smoked in place of tobacco products. The worldwide tobacco industry is a $1T marketplace, and the Company’s Disrupting Tobacco™ products are working on gaining market share. Sandro talks about HPCO’s joint venture with High Sierra Technologies, Inc. created a JV entity, Organipure, Inc. Using High Sierra Technology’s proprietary smell removal technique, Organipure, Inc. establishes a hemp product, “Smell-Free.” Many don’t like the smell of hemp and cannabis when smoked. During the segment, Jane smelled two hemp containers, one naturally occurring and the other treated with Organipure’s smell removal technology. The odorless-hemp product can now compete in public spaces, where smoking it without the smell like cannabis can ensue. Sandro explains that casinos in Vegas are constantly asking people not to smoke marijuana in their casinos, hemp is not marijuana, but it does smell similar. Dr. Titus explains how CBD can infuse more rapidly for immediate relaxation from smoking hemp. The Company can add terpenoids and other flavors to the hemp and its rolling papers. Marketing the “Smell–Free” hemp cigarettes is an add-on to the marketing of its smokable hemp products. The successful celebrity joint venture partnerships with Cheech & Chong and Rick Ross now can offer the “Smell-Free” cigarettes in addition to the Real Stuff, Hemp Hop, and Hemp Smokable products. Since the passing of The US Farm Bill of 2018, the possibility of using hemp cigarettes as a smoking sensation has been gaining popularity. Hempacco is the first hemp product company that trades on the Nasdaq. With over 64 million Americans using some form of CBD product, the overall market demographics are strong for continued growth at the Company. The on-screen QR code is available during the show; download or visit Hempacco Co., Inc.https://hempaccoinc.com/ & https://realstuffsmokables.com/.

Mr. Justin Waiau, Project Manager at LGCY Network (CRYPTO: LGCY) ($LGCY) and CEO at Quantum International Corp. (OTCPink: QUAN) ($QUAN) / LootUP is back at the Nasdaq MarketSite studio for an interview with TV Host Jane King. Justin gives an update regarding the $LECY blockchain ecosystem, which enables end-users and developers to participate and create using a dAPP blockchain. The network updated its wallet extensions, integrated the newest API, made an informative developers guide, and is working on new product roll-outs. The Company’s LootUp App, based on the LGCY blockchain, offers a unique and innovative payment platform that never holds end-users funds and is not vulnerable to account shutdowns or freezes. LootUp end users are increasingly enjoying the many benefits of this P2P non-custodial blockchain payment app. A new product app, the CannaLootUp App, based on the LootUp ecosystem, is coming to market soon. The cannabis industry needs a payment system independent of the legacy financial platforms. CannaLootUp App can solve many problems in buying/selling cannabis products because of its non-custodial feature, and the wallet owner of the App have complete control of their assets. The cannabis industry is a strong growing market with many financial needs that can use the unique features built into the CannaLootUp App. Like the LootUp app, the CannaLootUp offers simplified features, which enable end-users to send payments through their approved whitelisted names and confirm/cancel a transaction. It provides invoicing with built-in Smart Contracts for ease and efficiency in purchasing goods/services. Even though 2022 is a tough market for the blockchain and crypto industries, Justin sees a strong 2023 ahead with the growth of LGCY Network’s ecosystem. The on-screen QR code is available during the show to download more info or visit LGCY Network at https://lgcy.network/.

New to The Street welcomes Golden Developing Solutions, Inc.’s (OTCPink: DVLP) ($DVLP) Chief Executive Officer, Stavros Triant. Talking with TV Host Jane King, Stavros gives viewers information about the Company’s history and how they entered the “Specialty Pharmacy” market. The Company migrated from being a cannabis health and wellness company into a health and wellness specialty pharmaceutical entity. With assets and a technology platform owned in the Telemedicine industry, the Company established relationships with physician groups and pharmacy networks. Currently, post-COVID, telemedicine is a crowded industry space, and the Company decided to hold off on a full-roll out until a more favorable time in the future. But the relationships established during the telemedicine platform’s development opened the door to an opportunity in the specialty pharmaceutical market. New drugs with great health restorative benefits are available but not accessible by many or health insurance approved. Local pharmacy outlets sometimes don’t carry these new novel drugs, so a doctor will subscribe an older, less effective drug to a patent, limiting a patient’s access to the latest drug treatments. Stavros says the Company’s online specialty pharmacy can enable patients to get the best drug innovation, bypassing a local pharmacy. The specialty pharmaceutical marketplace is a fragmented industry made up of small businesses in local demographics. DVLP is aggressively seeking acquisitions that can enhance its distribution channels for much-needed drugs, increase its market demographics, looks to reduce operational costs, and improve bottom-line results. Throughout 2023, Stavros tells viewers they intend to build necessary office infrastructures and hire key personnel to handle the expected growth from its operations. The on-screen QR code is available during the show to download more info or visit Golden Developing Solutions, Inc.https://goldendeveloping.com/.

Mr. Alain Ghiai, CEO at Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) appears on air with TV Host Jane King to talk about the Company’s encrypted products for secure and private electronic communications. Alain gives viewers a “Year-in-Review” about Sekur’s operational status. 2022 was a great year in reducing marketing costs, increasing product offerings, opening new international markets, offering new business enterprise solutions, developing B2B reseller agreements, and maintaining good cash-on-hand. With over 5000 active subscribers, management expects further increases heading into 2023. The SekurMail / SekurMessenger, SekurVoice, SekurProVideo Conference, and other products are available now or soon. SekurVoice, coming to market in 2023, offers subscribers encrypted voice calls and private voicemail. The Company always focuses on privacy issues and the removal of a possible hack attack on subscribers’ data. Subscribers get cybersecurity protections not available with open-source programs for reasonable pricing. As an added protection to subscribers, Sekur Private Data, Ltd. operates its internet platforms and security businesses under the country of Switzerland’s very tough privacy laws. Alain informs views about an independent financial research report done on the Company. FRC (Fundamental Research Corp.) wrote a paid-for comprehensive financial report regarding the Company’s current and future operations and its price-per-share expectation. Sekur Private Data, Ltd. doesn’t use any Big Tech open-source platforms, never data mines, uses 3rd party providers, owns, and controls its servers, and never asks for phone numbers. The on-screen QR code is available during the show to download more info or visit Sekur Private Data, Ltd.- https://www.sekurprivatedata.com/ and http://www.Sekur.com.

New to The Street welcomes Dr. Stuart Titus, Chairman of The Board of Green Globe International, Inc. (OTCPK: GGII) ($GGII). Talking with TV Host Jane King, Stuart explains the Company’s business model, a consumer product incubator. The Company and its subsidiaries offer a range of hemp, CBD products, and other consumer goods. The subsidiaries, Hempacco Co., Inc. (NASDAQ: HPCO), Green Star Labs, Inc., HempBox Vending, Inc., and The Real Stuff Smokables, Inc., develop, manufacture, market, and sell fast-moving consumer goods products. The Company owns intellectual properties and consumer goods in the retail, advertising, cannabis, and hemp industries and has a production facility in San Diego, CA. Recently, the Company’s Green Star Lab’s received an NSF/ANSI 455-2 Dietary Supplement GMP Certification. Stuart explains that only about 1% of entities qualify for this certification, which is a considerable accomplishment, giving consumers confidence that all in-house and private-label products have the utmost quality controls. Dietary supplements, hemp, CBD, capsules, oils, gummies, vapes, skincare, and beauty products have the highest possible production standards at GGII and its subsidiaries. The Company Hemp Box Vending subsidiary has over 600 machine kiosks, offering various GGII products, a unique vending operation like no other in the industry. Stuart states that 37 states legalized medical marijuana and 21states legalized recreational uses, and over 64 million Americans use some CBD product; the industry growth is fantastic and expected to continue. Since the passing of the US Farm Bill of 2018, hemp crops and hemp products have been upwardly growing with lots of job creation. GGII will continue to develop business opportunities that create exciting consumables. The on-screen QR code is available during the show; download or visit Green Globe International, Inc. – https://ggiigroup.com/.

On New to The Street TV’s Weekly Sekur Privacy & Sekur Security Segment, internationally acclaimed internet privacy expert Mr. Alain Ghiai, CEO at Sekur Private Data Ltd.  (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) talks with TV Host and Multi-media Journalist Ana Berry about the problems with face recognition apps that people use for entertainment, like the Lensa AI app. Ok, it might be fun to age-generate your face recognition into the future and build unique characters featuring kings, queens, and superheroes. Still, it would be best if you asked yourselves how safe the App is in managing your facial recognition data. Alain states that these platforms all share open-source Big Tech platforms known for cybersecurity breaches, and these platforms sell and rent your data profiles. The same problem is ongoing with those DNA services investigating your ancestry; they also share data. Each open-platform account has vulnerability issues, directly or indirectly causing all sorts of data compromises. Big-tech platforms make over $185B a year off data sales, and you get nothing in return, or worse yet, hacked. Alain says anyone using Big-tech open-source email and texting platforms for sensitive and private communications has become a part of what he calls “Data Slavery.” The best possible way to reduce your social media footprint and communicate privately and securely is to become a Sekur product subscriber. Using military encryptions that are invisibilities to hackers for a reasonable monthly fee, a subscriber is confident that electronic communications are secure and private. The Company’s business and servers are in Switzerland, a country with stringent privacy laws, making it illegal to sell data or share communications. Alain is offering 50% off subscription fees; if you subscribe yearly, you automatically get two months free, so the overall savings are about 67%. Use PROMO CODE: Sekur50. Alain looks forward to a beautiful holiday time and looks forward to bringing more updates into 2023. The on-screen QR code is available during the show to download more info or visit Sekur Private Data, Ltd.- https://www.sekurprivatedata.com/ and http://www.Sekur.com. What is your privacy worth this holiday season?

About Quantum Computing, Inc. (NASDAQ: QUBT) ($QUBT)

Quantum Computing,Inc. (QCI) (NASDAQ: QUBT) is a full-stack quantum software and hardware company on a mission to accelerate the value of quantum computing for real-world industry applications, delivering the future of quantum computing today. The combination of QCI’s flagship ready-to-run software product, Qatalyst, with its industry-leading Entropy Quantum Computing (EQC) system, Dirac 1, provides a broadly accessible and affordable enterprise quantum solution capable of solving real business problems now. QCI’s expert team in finance, computing, security, mathematics, and physics has over a century of combined experience with complex technologies, from leading-edge supercomputing to precision sensors and imaging technology, to the security that protects nations – https://www.quantumcomputinginc.com/.

About The Sustainable Green Team, Ltd. (OTC: SGTM) ($SGTM)

The Sustainable Green Team, Ltd. (OTC: SGTM) ($SGTM) is an emerging provider of environmentally beneficial solutions for preserving natural resources and the municipal waste and recycling industries. The Company is a wholesale manufacturer and supplier of wood-based mulch and lumber products, primarily in the Midwest, Southeast, and Ohio Valley regions. The Company also provides arbor care and storm recovery services to municipalities, corporations, and consumers, primarily in the southeastern United States. The Company plans to expand its operations through organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. The Company’s customers include governmental, residential, and commercial clients – https://www.thesustainablegreenteam.com/.

About VRM BioLogik Group:

Since 1987, VRM BioLogik has developed and implemented technological advances globally that catalyze natural reactions, aiding in soil restoration, resolving environmental emergencies, and cleaning through attaining and sustaining ecosystem balance. VRM’s agricultural product range works to enhance crop yield while restoring the nutrients in soils naturally. Its cleaner product range naturally removes residues from surfaces that harbor viruses and pathogens. The environmental management product range works to address and amend difficult environmental circumstances, including balancing wastewater, control of odor and organics digestion during emergency spills, and eliminating odors. VRM’s livestock product range is a probiotic approach to environmental management in intensive growing situations – https://www.vrm.science/.

About American Rebel Holdings, Inc. (NASDAQ: AREB) ($AREB):

American Rebel, Inc. (NASDAQ: AREB), through its wholly-owned operating subsidiaries, operates primarily as a designer, manufacturer, and marketer of branded safes and personal security and self-defense products. The Company also designs and produces branded apparel and accessories and now intends to enter the E-Bike market – www.americanrebel.com.

About Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO):

Hempacco Co., Inc.’s (NASDAQ: HPCO) ($HPCO) goal is Disrupting Tobacco’s™ nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff™ functional hemp cigarette and rolling paper brands. Hempacco’s operational segments include manufacturing of smokables and hemp rolling paper, smokable technology development, The Real Stuff™ brand of functional smokables and rolling paper, and Cheech & Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross. Learn more at hempaccoinc.com and order products at www.realstuffsmokables.com.

About LGCY Network (CRYPTO: LGCY) ($LGCY)/ Quantum International Corporation (OTCPink: QUAN) / LootUp:

LGCY Network (CRYPTO: LGCY) ($LGCY), founded in August 2020, works on delivering the promise of a truly decentralized blockchain. $LGCY is a DPoS, open-source blockchain protocol with industry-leading transaction speed and flexible utility, and the network aims to be the most decentralized dApp blockchain in the world. One of the shining points of the $LGCY network is the ability of developers to create dApps and customized wallets. The best part is that the applications and uses are limitless because of the capacity for smart contracts to be deployed and executed on its chain. The central focus of the $LGCY Network is the community. A DPoS-based blockchain utilizes a community voting system to determine project funding allocations. $LGCY smart contracts use USDL stablecoin as their gas fee. $ LGCY’s goal is to be the most decentralized blockchain in existence. LootUp, $LOOT, is built on the LGCY Network—the fastest major blockchain with the lowest fees, so users can send and receive funds quickly and easily. Quantum International Corp. is an innovation company. It is in the business of identifying and developing innovative products in the financial world, exploring web 3.0 capabilities – https://lgcy.network, https://lgcyscan.network/, https://lootup.app/, and https://quantuminternationalcorp.com/.

About Golden Developing Solutions, Inc. (OTC: DVLP):

Golden Developing Solutions, Inc. (OTC: DVLP) is a public online health and wellness start-up company that delivers nutritional supplements, including vitamins, tinctures, soft gels, and topical application products. Its pharmaceutical division provides specialty medicine with rapid delivery services and adequate medical support in the United States. The recent four (4) specialty pharmacy acquisitions in 2022 have capacitated the Company’s service offerings to the States of Michigan and Florida with a consolidated revenue of $100M. The Company positioned itself to build shareholder value by setting the highest service, reliability, and safety standards in our rapidly growing industry – https://goldendeveloping.com/.

About Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0):

Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) is a cybersecurity and internet privacy provider of Swiss-hosted solutions for secure communications and secure data management. The Company distributes encrypted emails, secure messengers, secure communication tools, secure cloud-based storage, disaster recovery, and document management products. The Company sells and serves consumers, businesses, and governments worldwide through approved wholesalers, distributors, and telecommunications companies. Contact Sekur Private Data, Ltd. at [email protected] or visit  https://www.sekurprivatedata.com and  https://www.sekur.com.

About Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO):

Hempacco Co., Inc.’s (NASDAQ: HPCO) ($HPCO) goal is Disrupting Tobacco’s™ nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff™ functional hemp cigarette and rolling paper brands. Hempacco’s operational segments include manufacturing of smokables and hemp rolling paper, smokable technology development, The Real Stuff™ brand of functional smokables and rolling paper, and Cheech & Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross. Learn more at hempaccoinc.com and order products at www.realstuffsmokables.com.

About Green Globe International, Inc. (OTCPK: GGII):

Green Globe International, Inc. (OTCPK: GGII) is a Fast-Moving consumer goods incubator and holding Company of intellectual property, products, and companies that want to change the world with its products and technology. Green Globe International, Inc. and its subsidiaries develop, manufacture, market, and sell consumer goods, including herb and hemp smokable rolling papers. Its subsidiary, Hempacco Co., Inc. (NASDAQ: HPCO), is disrupting the $1T tobacco industry and has celebrity manufacturing partnerships, private label, and large distributor partnerships. Green Star Labs, Inc. is a partnership with Curated Nutra, LLC, that develops and manufactures CBD, nutritional supplements, and beauty products. The HempBox Vending, Inc. subsidiary owns and manages kiosk vending machines with advertising screens that dispense products while simultaneously advertising products – https://ggiigroup.com/.

About New to The Street:

New to the Street is an FMW Media production that operates one of the longest-running US and International sponsored and syndicated Nielsen Rated programming television brands, “New to The Street,” and its blockchain show, “Exploring The Block.” Since 2009, these brands have run biographical interview segment shows across major U.S. television networks. The paid-for-television programming platforms can potentially reach over 540 million homes in the US and international markets. FMW’s New to The Street / Newsmax televised broadcasting platform airs its syndication on Sundays at 10 -11 AM ET. FMW is also one of the nation’s largest buyers of linear television, long and short-form paid programming – https://www.newsmaxtv.com/Shows/New-to-the-Street & https://www.newtothestreet.com/.

Forward-Looking Statements Disclaimer:

This press release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at which such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.

CONTACT:

FMW Media Contacts:
Bryan Johnson
+1 (631) 766-7462
[email protected] 

“New to The Street” Business Development Office.
1-516-696-5900
[email protected] 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/546a4023-7847-4cda-9f81-35d26aba43aa

Cannabis

Mikra Announces Partnership with Virun NutraBiosciences Inc. and Releases CELLF 2.0

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IM Cannabis Reports First Quarter Financial Results

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IMC prepares for accelerated growth after legalization in Germany and recovers from the impact of the Israel-Hamas war.

TORONTO and GLIL YAM, Israel, May 8, 2024 /PRNewswire/ — IM Cannabis Corp. (the “Company” or “IMC“) (NASDAQ: IMCC) (CSE: IMCC), an international medical cannabis company, announced its financial results today for the first quarter ended March 31, 2024. All amounts are reported in Canadian dollars and compared to the quarter ended March 31, 2023, unless otherwise stated.

Q1 2024 Financial Highlights

  • 13% Revenue increase vs. Q4 2023 of $12.1M vs. $10.7M and 4% decrease vs. Q1 2023 of $12.5M

 

  • 125% Gross profit increase vs. Q4 2023 of $1.8M vs. $0.8 and 39% Gross profit decrease vs. Q1 2023 of $2.9M

 

  • 29% decrease in operating expenses vs. Q1 2023 excluding the one-time Oranim revoke related losses of $4.6M vs. $6.5M and 14% increase including Oranim

 

  • 12% increase of Non-IFRS Adjusted EBITDA loss to $2.1M

Operational Highlights

The Company intends to complete a non-brokered private placement (the “Offering“) of secured convertible debentures of the Company (each, a “Debenture“) for aggregate proceeds of up to C$2,500,000. The Debentures will mature on the date that is 12 months from the date of issuance and will not incur interest except in the event of default. The Debentures are being issued to holders of short term loans and obligations owed by the Company or its wholly owned subsidiaries. The principal of the Debenture may be converted into common shares in the Company (each, a “Share“) at a conversion price of $1.08 per Share.

Management Commentary 

“With the April 1st cannabis legalization in Germany, we are augmenting our focus and resources on the German market, where we expect to see the biggest growth potential, and the best return on investment. While it is still too early to make any predictions, our sales in Germany almost doubled during the month of April,” said Oren Shuster, Chief Executive Officer of IMC. “Looking back on the first month post legalization in Germany, I see that we have the infrastructure and the supply agreements in place to continue delivering the accelerated growth we have already seen in April. We will also ensure that we have the necessary resources in place for success.”   

“In 2023 we completely restructured, becoming a very lean and agile company, leaning into active cost management. This process is reflected in the numbers, our G&A decreased 27% vs Q1 2023” said Uri Birenberg, Chief Financial Officer of IMC. “While our results have recovered from the impact of the Israel-Hamas war, our revenue was still effected by both an unfavorable exchange rate, as well as price reductions to sell off inventory.”

Q1 2024 Conference Call 

The Company will host a Zoom web conference call today at 9:00 a.m. ET to discuss the results, followed by a question-and-answer session for the investment community. Investors are invited to register by clicking here. All relevant information will be sent upon registration.

If you are unable to join us live, a recording of the call will be available on our website at https://investors.imcannabis.com/ within 24 hours after the call.

Q1 2024 Financial Results

  • Revenues for the first quarter of 2024 were $12.1 million compared to $12.5 million in the first quarter of 2023, a decrease of 3%. The decrease is mainly due an exchange rate effect of about $0.2 million and decrease in avg. price per sale due to increased competition.

 

  • Gross profit for the first quarter of 2024 was $1.8 million, compared to $2.9 million in Q1 2024, a decrease of 39%. The downside is attributed mainly to the slow-moving stock that was moved out at a lower price and an exchange rate difference totaling $0.4 million and $0.64 million cost of sales loss due to an inventory erase of the slow-moving stock. Company fair value adjustment was $0 and $0.4 million for the Q1 2024 and Q1 2023 respectively.

 

  • Total Dried Flower sold in Q1 2024 was approximately 1,873 kg with an average selling price of $5.68 per gram, compared to approximately 1,842kg in Q1 2023, with an average selling price of $6.59 per gram. This difference is mainly due to increased competition within the retail segment, and mid-range stock discounts to move out slow moving stock.

 

  • Total operating expenses in Q1 2024 were $7.4 million compared to $6.5 million in Q1 2023. The increase is due to the other operating expenses related to Oranim Deal revoke, with an expected losses of $2.8 million. Adjusting for this one-time losses, Q1 2024 operating expenses were $4.6 million compared to $6.5 million in Q1 2023, a decrease of 29%.

 

  • G&A Expenses in Q1 2024 were $2.3 million, compared to $3.2 million in Q1 2023, a decrease of 28%. The decrease in the G&A expense is attributable mainly to salaries and professional services of $0.64 million.

 

  • Selling and Marketing Expenses in Q1 2024 were $2.3 million, compared to $2.8 million in Q1 2023, a decrease of 18% mainly due to a decrease in Salaries and professional services of $0.5 million.

 

  • Net Loss from continuing operations in Q1 2024 was $6.0 million, compared to $0.9 million in Q12023.

 

  • Basic and diluted Loss per Share in Q1 2024 was $0.42, compared to a loss of $0.05 per Share in Q1 2023.

 

  • Non-IFRS Adjusted EBITDA loss in Q1 2024 was $2.1 million, compared to an Adjusted EBITDA loss of $1.9 million in Q1 2023 an increase of 10%.

 

  • Cash and Cash Equivalents as of March 31, 2024, were $1.0 million compared to $1.8 million in December 31, 2023.

 

  • Total assets as of March 31, 2024, were $41.1 million, compared to $48.8 million in December 31, 2023, a decrease of 16%. The decrease is mainly attributed to the goodwill reduction due to Oranim agreement cancelation of about $2.8M, a reduction in Inventory of $2.1 million, reduction of Cash and cash equivalents of $0.8M and reduction in Trade payables of $1.2 million.

 

  • Total Liabilities as of March 31, 2024, were $32.8 million, compared to $35.1 in December 31, 2023, a decrease of about 7%. The decrease was mainly due to the reduction in other accounts payables and accrued expenses of $1.8 million and reduction in the PUT option liability of $0.7 million.

 

The Company’s financial statements as of March 31, 2024 includes a note regarding the Company’s ability to continue as a going concern. The Company’s Q1 2024 financial results do not include any adjustments relating to the recoverability and classification of assets or liabilities that might be necessary should the Company be unable to continue as a going concern. For more information, please refer to the “Liquidity and Capital Resources” and “Risk Factors” sections in the Company’s management’s discussion and analysis for the quarter ended March 31, 2024.

Non-IFRS Measures

This press release makes reference to “Gross Margin” and “Adjusted EBITDA”, which are financial measures that are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are provided as complementary information to the Company’s IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should neither be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS.

For an explanation of how management defines Gross Margin and Adjusted EBITDA, see the Company’s management’s discussion and analysis for the period ended March 31, 2024, available under the Company’s SEDAR+ profile at www.sedarplus.ca on EDGAR at www.sec.gov/edgar.
We reconcile these non-IFRS financial measures to the most comparable IFRS measures as set out below.

 

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

Canadian Dollars in thousands

March 31,
2024

December 31,
2023

Note

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$           1,048

$           1,813

Trade receivables

6,506

7,651

Advances to suppliers

780

936

Other accounts receivable

3,732

3,889

Inventories

3

7,901

9,976

19,967

24,265

NON-CURRENT ASSETS:

Property, plant and equipment, net

4,939

5,058

Investments in affiliates

2,078

2,285

Right-of-use assets, net

1,243

1,307

Intangible assets, net

5,440

5,803

Goodwill

7,442

10,095

21,142

24,548

Total assets

$          41,109

$          48,813

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

 

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

Canadian Dollars in thousands

March 31,
2024

December 31,
2023

Note

(Unaudited)

LIABILITIES AND EQUITY

CURRENT LIABILITIES:

 

Trade payables

$      9,511

$      9,223

Bank loans and credit facilities

11,941

12,119

Other accounts payable and accrued expenses

4,440

6,218

Accrued purchase consideration liabilities

2,165

2,097

PUT Option liability

1,967

2,697

Current maturities of operating lease liabilities

461

454

30,485

32,808

NON-CURRENT LIABILITIES:

 

Warrants measured at fair value

4

137

38

Operating lease liabilities

744

815

Long-term loans

401

394

Employee benefit liabilities, net

96

95

Deferred tax liability, net

902

963

2,280

2,305

Total liabilities

32,765

35,113

EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY:

5

Share capital and premium

253,887

253,882

Translation reserve

1,399

95

Reserve from share-based payment transactions

9,664

9,637

Accumulated deficit

(255,431)

(249,145)

Total equity attributable to equity holders of the Company

9,519

14,469

 Non-controlling interests

(1,175)

(769)

Total equity

8,344

13,700

Total liabilities and equity

$  41,109

$     48,813

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

 

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME (UNAUDITED)

Canadian Dollars in thousands, except per share data

Three months ended

March 31,

Note

2024

2023 (*)

Revenues

$      12,063

$      12,529

Cost of revenues

10,274

9,286

Gross profit before fair value adjustments

1,789

3,243

Fair value adjustments:

Realized fair value adjustments on inventory sold in the period

(10)

(339)

Total fair value adjustments

(10)

(339)

Gross profit

1,779

2,904

General and administrative expenses

2,332

3,175

Selling and marketing expenses

2,292

2,805

Restructuring expenses

283

Share-based compensation

32

258

Other operating expenses

9

2,753

Total operating expenses

7,409

6,521

Operating loss

5,630

3,617

Finance income

4

(14)

3,530

Finance expense

(487)

(795)

Finance income, net

(501)

2,735

Gain (loss) before income taxes

(6,131)

(882)

Income tax benefit

(111)

(16)

Net )loss( gain

(6,020)

(866)

Other comprehensive income that will not be reclassified to profit or loss in
 subsequent periods:

Total other comprehensive income that will not be reclassified to profit or loss
 in subsequent periods

67

36

Exchange differences on translation to presentation currency

1,330

(562)

Total other comprehensive income (loss) that will not be reclassified to profit
 or loss in subsequent periods

1,397

(526)

Other comprehensive income that will be reclassified to profit or loss in
 subsequent periods:

Adjustments arising from translating financial statements of foreign operation

(35)

155

Total other comprehensive income (loss) that will be reclassified to profit or loss
 in subsequent periods

(35)

155

Total other comprehensive income (loss)

1,362

(371)

Total comprehensive loss

$       (4,658)

$       (1,237)

 

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME (UNAUDITED)

Canadian Dollars in thousands, except per share data

Three months ended

March 31,

Note

2024

2023 (*)

Net income (loss) attributable to:

Equity holders of the Company

(5,623)

(600)

Non-controlling interests

(397)

(266)

$       (6,020)

$           (866)

Total comprehensive income (loss) attributable to:

Equity holders of the Company 

(4,252)

(959)

Non-controlling interests 

(406)

(278)

$       (4,658)

$       (1,237)

Net income (loss) per share attributable to equity holders of the Company

7

Basic and diluted (loss) gain per share (in CAD)

$           (0.42)

$           (0.05)

Earnings (loss) per share attributable to equity holders of the Company
 from continuing operations:

Basic and diluted (loss) gain per share (in CAD)

$         (0.42)

$          (0.05)

(*) See note 1 regarding figures disclosure.

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

 

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Canadian Dollars in thousands

Three months ended

March 31,

2024

2023 (*)

Cash provided by operating activities:

Net income (loss) for the period

$    (6,020)

$          43

Adjustments for non-cash items:

Fair value adjustment on sale of inventory

10

339

Fair value adjustment on Warrants, investments and accounts receivable

100

(3,636)

Depreciation of property, plant and equipment

147

174

Amortization of intangible assets

452

456

Depreciation of right-of-use assets

118

179

Impairment of goodwill

2,753

Finance expenses, net

401

635

Deferred tax liability, net

(69)

(150)

Share-based payment

32

258

Restructuring expense

283

3,944

(1,462)

Changes in working capital:

Decrease (increase) in trade receivables

1,332

1,937

Decrease (increase) in other accounts receivable and advances to suppliers

159

(940)

Decrease (increase) in inventories, net of fair value adjustments

2,159

90

Decrease (increase) in trade payables

663

(6,021)

Changes in employee benefit liabilities, net

(22)

Increase in other accounts payable and accrued expenses

(2,745)

(14)

1,568

(4,970)

Taxes (paid) received

(121)

328

Net cash used in operating activities

(629)

(6,061)

Cash flows from investing activities:

Purchase of property, plant and equipment

(2)

(411)

Payment of purchase consideration

(56)

Net cash used in investing activities

$            (2)

$        (467)

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

 

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Canadian Dollars in thousands

Three months ended

March 31,

2024

2023

Cash flow from financing activities:

   Proceeds from issuance of share capital, net of issuance costs

176

825

   Proceeds from issuance of warrants

(176)

7,027

   Repayment of lease liability

(118)

(175)

   Interest paid – lease liability

(15)

(18)

   Receipt (repayment) of bank loan and credit facilities

(2,856)

(1,046)

   Cash paid for interest

(444)

(56)

   Proceeds from discounted checks

2,581

Net cash (used in) provided by financing activities

(852)

6,557

Effect of foreign exchange on cash and cash equivalents

718

(1,059)

Decrease in cash and cash equivalents

(765)

(1,030)

Cash and cash equivalents at beginning of the period

1,813

2,449

Cash and cash equivalents at end of the period

$      1,048

$     1,419

Supplemental disclosure of non-cash activities:

Right-of-use asset recognized with corresponding lease liability

$           40

$          49

Issuance of shares in payment of debt settlement to a non-independent director of the company

$              –

$        222

(*) See note 1 regarding Figures disclosure.

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

 

About IM Cannabis Corp.

IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients. The Company also  operated in Canada through Trichome Financial Corp and its wholly owned subsidiaries. The Company has exited operations in Canada and considers these operations as discontinued.

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to: the impact of the Israel-Hamas war on the Company, including its operations and the medical cannabis industry in Israel; the timing and impact of the legalization of medicinal cannabis in Germany, including, the Company having it “all in house”; the Company being positioned to take advantage of the legalization; the Company’s growth in 2024; the market growth for medicinal cannabis in Germany;  the stated benefits of the Company’s EU-GMP processing facility and an EU-GDP logistics center; the Company to host a teleconference meeting as stated; and the Company’s stated goals, scope, and nature of operations in Germany, Israel, and other jurisdictions the Company may operate.

Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to focus and resources to achieve sustainable and profitable growth in its highest value markets; the Company’s ability to mitigate the impact of the Israel-Hamas war on the Company; the Company’s ability to take advantage of the legalization of medicinal cannabis in Germany; the Company’s ability to host a teleconference meeting as stated; and the Company’s ability to carry out its stated goals, scope, and nature of operations in Germany, Israel, and other jurisdictions the Company may operate.

The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and its subsidiaries (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; the Company’s inability to take advantage of the legalization of medicinal cannabis in Germany; and the Company’s inability to host a teleconference meeting as stated.

Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Company Contact: 

Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]

Oren Shuster, CEO
IM Cannabis Corp.
+972-77-3603504

Logo – https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/im-cannabis-reports-first-quarter-financial-results-302139688.html

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