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KYN Capital Group, Inc. (OTC:KYNC) Big Reversal & Steady Run Northbound as Crypto Operator (Pay.How) Reports Release of Koinfold™ Debit Card

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KYN Capital Group, Inc. (OTC:KYNC) is moving steadily northbound in recent trading after the Company announced it is releasing the long awaited Koinfold™ Debit Card. Koinfoldpay allows businesses to receive Bitcoin, Etherium, Bitcoin Cash, and Litecoin for online payments. The Koinfold debit card will be directly linked to the users Koinfold account. The debit card is one more step in the evolution, allowing customers the ability to use their crypto accounts from payments with merchants that are not yet equipped for touchless crypto payment systems such as Koinfoldpay. KYNC is currently showing signs of a major reversal since a long-time downtrend since the big run-in summer 2021 when the stock saw highs of $0.039. Currently under heavy accumulation KYNC is priced cheap at less than 10% of recent highs with some big developments taking place. 

KYNC has been making moves in the crypto space ever since new CEO Rick Wilson took charge, got the Company to “pink current” and retired 400 million unrestricted shares to the company treasury. Mr WIlson is a go getter experienced in the booming crypto space of ICBU and EXMT fame both of which saw significant moves. KYNC updated its twitter page with the NBA Logo/Store as it’s header after launching Koinfold™, an online crypto wallet with a host of tools and services available that lets users buy, sell, or store crypto securely 100% commission free. Koinfold™ is so much more than just a crypto trading app. It is a full-service crypto/blockchain suite that now offers debit cards directly linked to the user’s Koinfold™ account. Speculators have noted that if KYNC acquires BW they will immediately become profitable. Pay.how located at pay.how is a sexy and innovative product that unique positions KYNC in the marketplace and gives the Company steady continued growth for years to come.  

KYN Capital Group, Inc. (OTC:KYNC) is a Nevada Corporation re-positioned to be a holding company for acquisitions, entertainment, blockchain, cryptocurrency and touchless payments. The Company’s goal is to combine the expertise of its members to create a cohesive force, which moves the company forward in the marketplace. “We are building companies and products that empower the next generation” – Rick Wilson, CEO

KYNC launched Koinfold™, a future-forward crypto app suite the world will be talking about located at www.koinfold.com. Buying, selling, and storing cryptocurrency has never been this easy and more affordable. Whether you are a seasoned trader or just getting started, Koinfold™ has all the tools you need to buy, sell, or store your crypto securely. Koinfold™ is so much more than just a crypto trading app. It is a full-service crypto/blockchain suite, and we look forward to revealing the other exciting elements in the coming days and weeks. If you’re an eCommerce business or freelancer you will gain a competitive edge by enabling cryptocurrency payments on your invoices. Koinfoldpay enables you to seamlessly receive cryptocurrency payments, giving you an advantage and market share today and for years to come. Crypto is the future, as is Koinfoldpay. 

KYNC just reported its long awaited Koinfold™ Debit Card and expects sign ups to begin next month. Additionally, KYN Capital Group will be releasing revenues for the 1st Quarter of 2022 on behalf of its Pay.How beta and progress regarding the acquisition of BW Property Management and its entire suite of tools. The Company has finalized the artwork for its debit card and is now just awaiting final production which is expected to be completed in April. Upon completion, KYN Capital Group will provide details on how its shareholders and clients can sign up to receive their cards and ways to take advantage of unique offers and benefits. 

KYN Capital Group is also pleased to announce the release of revenues forthcoming in the month of April as a result of the continued development and user growth from the Pay.How super app. Pay.How has continued to bolster a unique approach to attaining and attracting new clients which has added increased excitement for KYN Capital Group as it expands nationwide. 

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KYNC

Pay.How, the super app developed by BW Property Management Group converges peer-to-peer payments, merchant solutions, real estate, home services, ticketing to events, ride sharing, and a crypto exchange into a streamlined and rewarding experience. For more information, visit Pay.How. Recently KYN completed the beta version of both the new GUI and AABB Wallet into Pay.How. This enhancement addresses numerous needs, overcomes obstacles typically encountered within the digital and payment communities, and makes the Pay.How product more universal and easier to use. With the numerous options, Pay.How allows you to conduct transactions utilizing Fiat currency as well as cryptocurrency payment methods, turning the Company’s “super-app” into an international super-app capable of handling more currency exchanges than ever before.  

KYNC saw a spectacular run from sub pennies to highs of $0.039 summer of last year and we reported on it along the way. On April 26, 2021 (long after our KYNC article in February 2020 when it was still low subs) we stated: KYN Capital Group, Inc. (OTC:KYNC) is making a powerful run up the charts in recent weeks out of the triple zero and into pennyland. The stock has been under heavy accumulation trading over $15 million in dollar volume on Monday before noon. KYNC is currently among the most talked about stocks in small caps and is quickly attracting legions of new shareholders who continue to bid the stock higher. KYNC is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars. KYNC management team is working hard behind the scenes in an effort to get the Company’s filings up to date and become fully reporting “pink current” The Company’s new CEO Rick Wilson is a go getter experienced in the booming crypto space of ICBU and EXMT fame both of which saw nice moves. KYNC recently updated their twitter page with the NBA Logo/Store as it’s header.  

Earlier this year KYNC formed a partnership with the National Homeowners Association d.b.a BW Property Management Group to deliver cryptocurrency payments to more than 2,500 homeowners. Through this partnership, the National Homeowners Association will offer nationwide discounts on home services of more than 50% for lawn care, maid service, This partnership could potentially reach over 100,000 homes within 12 months. It was with BW Property Management that the Company was named to Inc. Magazine’s 2021 Best in Business list in the Lean and Mean category, receiving 1st place nationally as the gold honoree. 

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KYNC is moving steadily northbound in recent trading after the Company announced it is releasing the long awaited Koinfold™ Debit Card. Koinfoldpay allows businesses to receive Bitcoin, Etherium, Bitcoin Cash, and Litecoin for online payments. The Koinfold debit card will be directly linked to the users Koinfold account. The debit card is one more step in the evolution, allowing customers the ability to use their crypto accounts from payments with merchants that are not yet equipped for touchless crypto payment systems such as Koinfoldpay. KYNC is currently showing signs of a major reversal since a long-time downtrend since the big run-in summer 2021 when the stock saw highs of $0.039. Currently under heavy accumulation KYNC is priced cheap at less than 10% of recent highs with some big developments taking place. KYNC has been making moves in the crypto space ever since new CEO Rick Wilson took charge, got the Company to “pink current” and retired 400 million unrestricted shares to the company treasury. Mr WIlson is a go getter experienced in the booming crypto space of ICBU and EXMT fame both of which saw significant moves. KYNC updated its twitter page with the NBA Logo/Store as it’s header after launching Koinfold™, an online crypto wallet with a host of tools and services available that lets users buy, sell, or store crypto securely 100% commission free. Koinfold™ is so much more than just a crypto trading app. It is a full-service crypto/blockchain suite that now offers debit cards directly linked to the user’s Koinfold™ account. Speculators have noted that if KYNC acquires BW they will immediately become profitable. Pay.how located at pay.how is a sexy and innovative product that unique positions KYNC in the marketplace and gives the Company steady continued growth for years to come.  We will be updating on KYNC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with KNC.

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Disclosure: we hold no position in KYNC 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

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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.

Picture by herbalhemp from Pixabay

 

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

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

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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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