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Friday, October 7, 2022

Aja Cannafacturing Inc (OTCMKTS:AJAC) Stock Spotlight

Aja Cannafacturing Inc (OTCMKTS:AJAC) is sinking back into sub penny oblivion after a recent pop caused by a number of online newsletters bringing this new pot stock to their followers

The Company said announced a conference call for January 12. CEO Kendall Smith said “It seems all too common in the penny stock world that the management team of most companies seldom make themselves available to the investor community. We at AJAC believe that it is extremely important to seize any and all opportunities to interact with shareholders and potential investors. We have an ‘open door’ policy, so to speak, and are always eager to receive feedback.”

AJAC hit the bb’s back in August after the name change from IDS Industries, Inc. The Company was incorporated in Nevada in 2010 and was initially called Step Out, Inc before changing their name to IDS Solar Technologies, Inc. in June of last year.

According to AJAC they plan on becoming ”the pioneering force in the cannabis and industrial hemp industries by the select breeding and cultivation of application-specific, proprietary cannabis seeds. Through these methods, Aja Cannafacturing seeks to maximize the potential of every harvest becoming a leading supplier of raw cannabis material for industry specific applications such as building materials (Hempcrete), automotive (biofuels), plastics (healthcare) and textiles (fabrics).”

Aja Cannafacturing also has a wholly owned subsidiary called Charge! Energy Storage which is a designer and developer of GiiRS-rated energy storage devices for residential, commercial, and light industrial markets and products that deliver clean stationary and portable electrical energy. Charge! Made a broad­ reaching commitment to create reliable and affordable hi-tech energy storage systems for all commercial, and residential applications.

Recently AJC said that it will divest Charge! Energy Storage through a dividend on a one-to-one basis upon regulatory approval. The Company stated it would inform shareholders and the investment community of the details of the dividend once it receives regulatory approval of its proposal.

In recent news AJAC appointed Kendall A. Smith as its President and CEO and entered into a definitive contractual agreement with Mr. Smith. Mr. Smith was recently appointed as a new member of the Company’s Board of Directors and provides many years of experience in the cannabis sector in providing health care advocacy and consulting services.

Kendall A. Smith, 33, is a business entrepreneur with over 13 years’ experience in consulting providing services in multiple sectors ranging from the cultivation and harvesting of cannabis and hemp to being a patient advocate and caregiver, Mr. Smith also brings an extensive knowledge of organic chemistry and botanical based remedies.

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Mr. Smith commented “I am very excited about the divestiture so I may focus my energies on building a strong infrastructure and leadership team that will drive Aja’s success in the industrial hemp space, We have a strategic plan with milestones so the Company can achieve its long range goals and have a business that will provide real value to our shareholders and for our employees.”

AJAC has a pending agreement with LAES that will allow the Company to expand their agricultural foot print from 20 acres to 50 acres by the fourth quarter of our current fiscal year, more than doubling production/supply capacity. In future plans AJAC said they have a line of products scheduled to be available in the third quarter of this fiscal year. At that time AJAC plans to offer four products that are 1) Sterilized hemp seed, 2) Hemp bark fiber, 3) Hemp hurds, and 4) Raw hemp essential oil.

Many speculators are holding off on AJAC for now as evidence points to some significant notes from debt holders currently being converted into AJAC common stock and sold into the open market. This would explain VFIN on the ask and the general lack of significant upwards movement so far.

That said AJAC is priced very cheap and has quickly managed to capture the imagination of investors and gain a real following. At current levels there is significant demand for the stock and once any new shares coming into the market stop AJAC could go parabolic real fast. Company management seems to be making some progress and are good about updating shareholders.

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As we come into the season when pot stocks usually heat up and the entire sector gets a jolt from continued mainstream media coverage AJAC is a stock to watch and deserves to be on Investors watch lists here.

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Disclosure: we hold no position in AJAC either long or short and we have not been compensated for this article.

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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