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Hiru Corp. (OTCMKTS: HIRU) Now Shipping to Clients From its Newly Acquired Roseville, California Manufacturing Facility

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11 months ago

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Hiru Corp. (OTCMKTS: HIRU) reported today that the Company has met the promised deadline for production and shipping to clients from its newly acquired Roseville, California manufacturing facility. From Roseville, the Company will start shipping product produced out of Roseville to Walmart, Kroger’s, and Albertson’s per orders received from these retail outlets. Additionally, the Company has started work on repair and upgrade lines 3 and 4 in Roseville to produce one-gallon, snap cap water bottles.  When ready, the production from these two automated water bottling and labeling lines will be solely utilized for our other major clients such as CVS and Walgreens to name a few. 

HIRU has seen rapid growth over the past year and much of it has been financed by issuing shares which has resulted in some dilution here. Investors in the Company are looking for a turnaround after the stock lost 30% on Monday, a day when the Company released positive news. The Company is also in the process of raising the authorized shares by 700 million to meet its planned expansion needs as the AS was maxed out and the Company could not issue any more shares for growth. 

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Hiru Corp. (OTCMKTS: HIRU) operating out of Phoenix, Arizona is a public quoted pink Sheet issuer under the ticker symbol “HIRU”. HIRU reports as an alternative reporting issuer with OTC Markets Group, Inc. and is current in its mandatory required filings. HIRU operates its flagship property is the Water & Ice Shop offering consumers across Arizona with bagged ice and bottled water. In Phoenix, Arizona the Company has cutting-edge commercial water bottling and labeling facility.

Hiru has a daily production capacity of about 100 tons of tubed ice and a well-maintained fleet of over 10 refrigerated trucks and trailers. The Company provides weekly route service to its reselling partners and works carefully to manage all of your unique events and occasions, seven days a week. Water & Ice Shop is happy to rent its Freezer Boxes and Trailers for all of your special events, and we offer white glove service for all of your Bagged Ice and Bottled Water needs. All of Water & Ice Shop retail clients receive dedicated weekly servicing at a minimum, ensuring that they are never out of merchandise. Water & Ice Shop ensures that several deliveries are made as needed, taking into account seasonality and client demands. A well-trained crew of drivers and assistance manage a huge fleet of refrigerated trucks and trailers.  

Earlier this year HIRU announced significant new production capacity through new co-packing partner, AZ Custom Bottled Water, LLC. AZ Custom Water completed a new packaging and bottling line in 2021 and is further expanding capacity and capabilities in 2022. The Company’s strategic network of copackers has allowed it to produce and deliver when many of its competitors could not. Now, with the addition of AZ Custom Water and their production capabilities, the Company is further strengthening its position in the Southwest. This year, AZ Custom Water will be an important producer of the Company’s entire portfolio of water products, including being its west coast supplier for the Company’s growing line of Alkaline88® FreshCap™ functional beverages. As we grow, we are finding the need for multiple bottlers in strategic markets.   

The Company also leased its fourth facility to bottle water. The New Facility is 51,000 square feet and is located in Glendale, Arizona. It will be able to house up to 5 new automated water bottling lines and have enough room to have a finished good storage contained therein. Additionally, there are 7 commercial delivery truck loading bays to make ease of delivery to the Company’s clients a priority. Hiru is currently building out the initial Bottling Line in the New Facility to meet its expected future demand for co-packed water products. The Company is also moving two of its automated lines to this New Facility as well.  The ultimate annual capacity of each Bottling Line in the New Facility is 36,000 gallon bottles a day or 1,080,000 gallon bottles a month.  Three of the new Bottling Lines in the New Facility are to be reserved for our co-packing contract with the previously announced relationship with a national bottled water retailer.  This New Facility will also produce gallon, liter, and half liter water bottles for several new purchase orders from new clients the Company is expected to provide during the third and fourth quarter of 2022. 

The Company is now reaching its full operational potential which has proven that our decision to dramatically increase its automated water bottling line capabilities last summer was the correct course of action. The Company expects to produce in excess of $4,000,000 USD for the 3rd quarter ended June 30, 2022, and between $6,000,000 USD to $8,000,000 USD for the 4th quarter ended December 31, 2022. That will result in an annual revenue of between $14,000,000 USD to $16,000,000 USD for calendar year ended December 31, 2022.  

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HIRU

Earlier this year the Company reached final terms with Sports Quest, Inc. to purchase its automated water bottling line. The Company purchased the gallon size water bottling line from Sports Quest, Inc. in exchange for a block of Common Stock. The bottling line is a flat cap, gallon bottling line which will assist in meeting the volume requirements of our largest grocery chain the Company has been servicing and potentially land even larger invoices for this same size water bottle. In full daily production, this new bottling line has the capacity to produce up to 57,600 gallons per day. 

HIRU also acquired 3 additional fully automated water bottling lines from a manufacturing plant that is closing in the State of California. The opportunity to purchase these lines came less than a month ago. The Company was able to visit with the seller in California, negotiate the purchase directly, and then come to terms very quickly. The Company expects to have these three automated bottling lines dismantled and packaged for travel, transported to our facility, installed professionally, and then approved by the appropriate government agencies in the next 120-150 days. 

Last week HIRU purchased a full scale, water bottling company out of Roseville, California pursuant to an agreement for both cash and equity. The value of the New Bottling Plant is approximately $7M USD. The New Bottling Plant has the following material benefits to the Company: 

  • 133,000 Square Foot of Floor Space 
  • Four Automated Bottling Lines (Two of Which are Fully Operational) 
  • All Four Bottling Lines will be in full production by December 31, 2022 
  • Can produce all sizes of water bottles which will allow the Company to fulfill the invoices more effectively from Alkaline 88 and our other major clients 
  • Capacity should allow us to expand and generate more top line revenue with both our current and future clients 

On October 24 HIRU announced it has met the promised deadline for production and shipping to our clients from its newly acquired Roseville, California manufacturing facility. The Company will begin full manufacturing, packaging, and shipping from its Roseville, California manufacturing facility as promised today, October 24, 2022. From Roseville, the Company will start shipping product produced out of Roseville to Walmart, Kroger’s, and Albertson’s per orders received from these retail outlets. Additionally, the Company has started work on repair and upgrade lines 3 and 4 in Roseville to produce one-gallon, snap cap water bottles.  When ready, the production from these two automated water bottling and labeling lines will be solely utilized for our other major clients such as CVS and Walgreens to name a few. 

Ms. Kathryn Gavin (President and CEO of the Company), states…”We worked hard in closing the acquisition of the automated water bottle manufacturing plant in Roseville as we had existing orders in place that needed to be covered. We accomplished the acquisition and met our planned roll out date for shipping. The Company had previously announced that we would be in full manufacturing in Roseville and would be able to hit our mark to start shipping from this location today, October 24, 2022. We have worked very hard since we took over this Company about 18 months ago and have hit ever mark promised both administratively with OTC Markets Group, quarterly and annual revenues predictions to the public, and any date associated with manufacturing and shipping from our now multiple automated bottled water manufacturing facilities in two states (e.g., Arizona and California). This has allowed us to land larger and larger orders for products with our then current clients while at the same time landing large retail clients that have been previously announced.  If the Company continues to do business as usual and continue to meet our promises to both our investors and our clients (both current and future), we expect the continue to expand our manufacturing footprint as we meet the future demand for our product and thus will continue to grow our top line revenue moving forward well into the future and on into 2024.” 

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Currently trading at a $7 million market valuation HIRU has 1,748,182,295 shares outstanding and with authorized capped at 1,750,000,000 which the Company is raising by 700 million to fund future acquisitions. On July 21 HIRU announced 2nd quarter ended revenues of over $2,800,000 USD with a quarterly net profit of $1,359,005 USD. Unheard of numbers to be making money on the OTC. The Company is now reaching its full operational potential which has proven that its decision to dramatically increase its automated water bottling line capabilities last summer was the correct course of action. The Company expects to produce in excess of $4,000,000 USD for the 3rd quarter ended June 30, 2022, and between $6,000,000 USD to $8,000,000 USD for the 4th quarter ended December 31, 2022. That will result in an annual revenue of between $14,000,000 USD to $16,000,000 USD for calendar year ended December 31, 2022. We will be updating on HIRU when more details emerge so make sure you are subscribed to Microcapdaily.

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

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Emerging Markets

Lucy Scientific Discovery’s (NASDAQ: LSDI) Game-Changing Move: A Closer Look at the High Times Acquisition

Published

2 weeks ago

on

September 8, 2023

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On August 8th, 2023, Lucy Scientific Discovery Inc. (NASDAQ: LSDI), a leading developer in the psychedelic drug industry, witnessed an impressive surge in its stock value, gaining approximately 25% in combined trading, including after-hours (AH) trading. The British Columbia-based company made headlines by announcing its strategic move to acquire intellectual property (IP) from the renowned cannabis publication, High Times Holding Corp. (HHC).

Additional Background:

Under this agreement, Lucy will exchange 20% of its shares and a series of payments for access to HHC’s valuable IP portfolio, which includes the rights to generate licensing and royalty income from renowned brands like High Times, 420.com, and Cannabis Cup, along with their associated domain names.

Lucy’s commitment involves making semi-annual payments to HHC over a five-year period, structured around earnings before income, taxes, depreciation, and amortization (EBITDA) generated through the acquired IP. The flexibility exists for Lucy to fulfill these payments either in cash or through stock issuance and the announcement is generating considerable interest.

Furthermore, post-acquisition, Lucy will grant High Times the opportunity to operate retail outlets and distribute THC products bearing these prestigious brands within the United States. This privilege comes in exchange for an annual license fee of $1 million, set to double to $2 million annually once federal legalization of cannabis occurs in the country.

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Leveraging the brand rights secured from HHC, Lucy aims to bolster its revenue streams by expanding and enhancing its existing 18 licensing agreements, both domestically and internationally. These arrangements encompass a wide array of consumer products and merchandise, promising to further establish Lucy’s presence in the global market. The acquisition is expected to be finalized within the coming two weeks, marking a significant strategic move for Lucy Scientific Discovery Inc.

As a result of the acquisition, High Times is now a publicly-traded entity. Lucy anticipates that this agreement will contribute over $10 million in revenue to its financial results in the upcoming year, along with $5 million in EBITDA.

Adam Levin, the Executive Chairman of HHC, expressed optimism about the deal, noting, “This transaction will create exciting new growth opportunities for the High Times brand, under the leadership of Richard Nanula, a seasoned executive with extensive experience in major consumer brands and global corporations.”

Levin also emphasized High Times’ enthusiasm in becoming a significant shareholder of Lucy Scientific Discovery. Notably, Lucy completed its initial public offering and Nasdaq listing in February, offering 1,875,000 shares at $4.00 each.

Richard Nanula, CEO of the British Columbia-based company, shared his outlook on the acquisition, stating, “Lucy expects this acquisition to rapidly generate high-margin revenue within the global cannabis sector.”

In recent developments, Lucy introduced the sleep aid product “Twilight,” which includes amanita muscaria and reishi mushrooms. Additionally, the company joined forces with Wesana Health Holdings Inc. (OTCQB: WSNAF) in March to collaborate on the development of the CBD and psilocybin-based drug SANA-013, targeting conditions such as migraines, cluster headaches, and major depressive disorder.

High Times, founded in 1974, has a rich history, featuring works by renowned writers like Truman Capote and Hunter S. Thompson. Since 1988, its Cannabis Cup has stood as the most prestigious cannabis competition globally, with notable judges including Snoop Dogg, Joe Rogan, Tommy Chong, and other prominent figures in the cannabis industry.

While Lucy’s shares showed a nearly 16% increase to reach $0.68 on the Nasdaq exchange on Friday, it is worth noting that they have experienced a decline of over 77% over the past year.

Macro Trend:

In recent times, our articles have prominently featured cannabis-related topics, reflecting the growing popularity of stocks in this sector. LSDI’s acquisition aligns perfectly with the current climate, as the cannabis industry experiences a significant surge, coinciding with the Health and Human Services (HHS) exploring the possibility of reclassifying cannabis from Schedule I to Schedule III of the Controlled Substances Act.

While many countries around the world have already moved towards decriminalization and legalization, the United States has been relatively cautious in its approach. However, the consideration of such a reclassification represents a potential historic turning point. If such a change were to materialize, it would mark a substantial shift in the regulatory landscape, potentially revitalizing cannabis as an attractive investment opportunity. The industry is already showing signs of reestablishing its market presence and could once again become a noteworthy investment option.

We will update you on LSDI when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Emerging Markets

WM Technology’s (NASDAQ: MAPS) Stock Surges 91% in Mysterious Rally: What’s Behind the Boom?

Published

3 weeks ago

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September 5, 2023

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WM Technology’s (NASDAQ: MAPS) stock has exhibited remarkable growth, surging by an impressive 91% since August 16th, 2023. Intriguingly, this surge occurred in the absence of any substantial news or filings from the company, with their most recent release dating back to August 23rd, 2023. This limited information raises the question: What is driving this impressive rally? We will delve into the details below to shed light on the matter.

Cannabis Industry:

If you’ve been following our newsletter, you may have noticed our recent article spotlighting Flora Growth Corp. (NASDAQ: FLGC), along with larger players like Cronos Group Inc. (NASDAQ: CRON), and Canopy Growth Corporation (NASDAQ: CGC).

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In case you haven’t had a chance to read it, you can find the article here, featuring a dedicated section on the broader trends shaping the cannabis industry.

For those seeking a quick summary, a significant development has emerged in the cannabis landscape. A high-ranking official at the Department of Health and Human Services (HHS) has proposed moving cannabis from Schedule I to Schedule III of the Controlled Substances Act. This shift marks a historic moment and comes after a comprehensive yearlong investigation requested by President Biden.

It’s worth noting the potential implications of this change for U.S.-based, plant-touching marijuana companies. Currently, these companies are restricted from trading on major exchanges like the NYSE or NASDAQ and are relegated to smaller markets such as the OTC, or smaller Canadian markets like the TSX, CSE, or NEO.

The CEO of Trulieve Cannabis Corp. (OTC: TCNNF), Kim Rivers delves into these implications in a podcast conversation with a Twitter user known as @stock_mj. She also recommends keeping a close eye on the AdvisorShares Pure US Cannabis ETF (MSOS) as the cannabis sector garners increasing attention from investors.

Weedmap’s Earnings:

To evaluate the potential of MAPS, it’s essential to examine their recent earnings and assess the fundamentals. Here’s a brief overview of the news release.

Revenue: Amounted to $50.9 million, representing a decline compared to the same period in the prior year when it reached $58.3 million.

Net Income: Recorded at $2.0 million for the second quarter of 2023, marking a significant decrease from the previous year’s figure of $19.8 million.

Adjusted EBITDA: Showed substantial improvement, totaling $10.2 million in the second quarter of 2023, as opposed to a negative figure of $(0.6) million in the same period of the prior year.

Cash: As of June 30, 2023, the company held $24.6 million in cash, noteworthy for being entirely debt-free.

WM Technology’s Executive Chair, Doug Francis, underscored the company’s dedication to reinforcing its financial position and delivering sustained growth.

Guidance for the third quarter of 2023:

Revenue: An estimated $47 million.

Non-GAAP Adjusted EBITDA: Approximately $4 million.

It’s important to note that these projections are subject to potential variations based on various factors and developments.

Furthermore, WM Technology announced the transition to Moss Adams LLP as its new independent registered public accounting firm, effective upon the filing of the Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, following the resignation of Baker Tilly US, LLP due to staffing constraints.

Although the company maintains a debt-free status, it’s crucial to recognize that there has been a substantial decline in both revenue and net income. Consequently, it is advisable to exercise caution when considering investment, as the current trajectory of their top-line figures does not exhibit a positive trend.

https://twitter.com/5teelersfan/status/1699102436672299134?s=20

Weedmap’s Strategic Partnership:

Furthermore, the company made another recent announcement regarding its strategic partnership with the producer of “The Freak Brothers,” a celebrated stoner comic series that has captivated audiences for over five decades.

The series follows the adventures of three stoner characters and their cat, who awaken from a 50-year slumber induced by a magical strain of weed in 1969, now navigating life in contemporary San Francisco.

Key highlights of this partnership include in-episode Weedmaps integrations in the upcoming second half of “Freak Brothers” season two, commencing on September 24th. Additionally, exclusive “Smoke & Screen” events will be held across the U.S., bringing together influential figures from both the cannabis and entertainment industries.

“The Freak Brothers” series, based on Gilbert Shelton’s cult classic comic, celebrates its 55th anniversary with a star-studded voice cast for Season 2, featuring Woody Harrelson, John Goodman, Pete Davidson, Tiffany Haddish, Adam Devine, Blake Anderson, Andrea Savage, La La Anthony, ScHoolboy Q, and a special guest appearance by Joe Sikora.

To watch Season 2 of “The Freak Brothers,” visit Tubitv.com, and for cannabis-related information, explore Weedmaps.com. For more on “The Freak Brothers,” visit the official website at www.thefreakbrothers.com.

We will update you on MAPS when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Emerging Markets

Cannabis Industry Surges: Flora Growth Corp. (NASDAQ: FLGC) Leads the Way with 77% Intraday Jump

Published

3 weeks ago

on

August 31, 2023

By

Flora Growth Corp. (NASDAQ: FLGC) experienced a remarkable intraday surge of over 77%. While the company has made significant announcements recently, today’s surge occurred without any specific filings or press releases to explain it. There seems to be something substantial driving this trading frenzy, a broader force impacting the entire asset class.

It’s worth noting that established industry leaders like Canopy Growth Corporation (NASDAQ: CGC) and Cronos Group Inc. (NASDAQ: CRON) have faced significant downtrends in past years. However, today’s market activity also lifted their stocks along with others. To understand this trend, let’s take a closer look at the larger market dynamics at play.

 

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What Happened:

A top official at the Department of Health and Human Services (HHS) has recommended moving cannabis from Schedule I to Schedule III of the Controlled Substances Act, marking a historic shift. This move follows a comprehensive yearlong investigation requested by President Biden.

https://twitter.com/NotFinancialRep/status/1697189406665245149?s=20

In the short term, this won’t significantly impact the cannabis industry, as the Drug Enforcement Agency (DEA) needs to conduct its own review and the federal prohibition on marijuana remains. However, the HHS recommendation, if followed by the DEA, could happen within a year, possibly before the 2024 presidential election.

Long-term implications for the cannabis industry are uncertain, but a key immediate effect would be the elimination of Section 280e of the IRS tax code for cannabis businesses. This provision currently prevents them from claiming standard business deductions, a major financial burden.

While rescheduling won’t directly open up access to institutional banking, it may attract new capital sources due to reduced risk perception among investors. Smaller banks and lenders might become more willing to engage.

Eliminating 280e could also stimulate lending in an industry with high borrowing costs, as companies would have improved cash flow. This might lead to lower interest rates and greater access to operating and expansion capital.

Rescheduling could benefit publicly traded cannabis companies, potentially enticing more exchanges, like the Toronto Stock Exchange, to accept U.S.-based cannabis businesses. It could also encourage Congress to take further action, such as passing the SAFE Banking Act and broader reforms.

Overall, while the exact implications of rescheduling are uncertain, the HHS announcement signals progress toward a post-prohibition reality for the cannabis industry, which is a significant development.

https://twitter.com/S_Andreoni/status/1697289527180562880?s=20

Having set the stage with the broader cannabis industry context, let’s delve into Flora Growth’s recent developments and their implications for the company’s future. Is Flora Growth strategically positioned to leverage the potential easing of restrictions in the cannabis sector?

European Expansion:

Flora Growth just formed a partnership with TruHC Pharma GmbH, a leading medical cannabis expert based in Hamburg, Germany. TruHC holds key certifications for importing, distributing, and manufacturing medical cannabis and is awaiting an EU-GMP license for its cutting-edge cannabis laboratory.

Hendrik Knopp, a respected legal professional and entrepreneur, and his team from TruHC are joining Flora, bringing their extensive expertise in pioneering medical cannabis in Germany. This partnership is seen as very valuable, especially as Germany and the European Union move towards making medical cannabis more accessible to patients.

Clifford Starke, CEO of Flora, expressed excitement about the collaboration, recognizing the potential to contribute to the growth of the medical cannabis industry as regulations evolve. The partnership aims to capture a significant market share in Germany.

Hulk Hogan Partnership:

Flora Growth also just recently entered an exclusive worldwide partnership with WWE legend Hulk Hogan to launch a range of consumer products through Just Brands. These products will include CBD-infused items like pre-rolls, topicals, edibles, and more, which Flora will produce and sell globally. The partnership aims to capitalize on Hulk Hogan’s iconic status and Flora’s global distribution network. The initial agreement is for three years, with potential renewals, targeting $20 million in sales over the first 24 months. Flora will pay royalties and license fees for Hulk Hogan-branded products.

Conclusion:

In summary, the cannabis industry appears ready for a resurgence, buoyed by renewed investor optimism and shifting market dynamics. Our focus today was Flora Growth Corp. (NASDAQ: FLGC) but larger names like Canopy Growth Corporation (NASDAQ: CGC) and Cronos Group Inc. (NASDAQ: CRON) are among the many companies benefitting from this positive trend.

We will update you on FLGC when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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