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Sunday, November 27, 2022

Mushrooms Inc (OTCMKTS: MSVI) Big Move as Co Hires New Management, Moves into Mushroom Space & Looks to Change Ticker to MYCO

Mushrooms Inc (OTCMKTS: MSVI) is rocketing up the charts in recent trading from well under a dime on Monday to hears near $0.40 on Friday, a day the stock was up 79% on $350,000 in dollar volume. The big move up on MSVI comes after the Company reported a name change to Mushrooms, Inc., coming ticker symbol change to MYCO and change of business direction to support the growth of the mushroom industry through collaboration, innovation and development headed by a new CEO Kimberly Carlson. 

The vision for Mushrooms, Inc. is to support the growth of the mushroom industry through collaboration, innovation and development. Creating and supporting environmentally beneficial product innovation is at the heart of Mushrooms, Inc. Research and Development is the path to achieving great innovation and the pioneers are the ones we look to for their fortitude and enduring dedication to the world of mycology. The working relationships management is fostering will result in scientifically proven products that advance health of body, mind and environment. 

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Mushrooms Inc (OTCMKTS: MSVI) operating out of Estero, Florida is a publicly traded company on the OTC Markets with the stock symbol MSVI. Management anticipates the new ticker symbol for its Common Stock will be MYCO. They chose the trading symbol MYCO which is a prefix that denotes a relationship to fungus. From the Greek “mykes”, meaning fungus. 

On July 5 Mushrooms reported effective June 27, 2022, the Company has officially changed its name to Mushrooms, Inc., through the filing of amended and restated articles of incorporation with the Nevada Secretary of State. In addition to changing the Company’s corporate name to Mushrooms, Inc., the Company announces the appointment of a new Chief Executive Officer, Kimberly Carlson, focused on implementing a new business model based on functional mushrooms. 

With the appointment of Kimberly Carlson as CEO, the Company’s former CEO, James Hancock, has been appointed the Chief Operating Officer of the Company. James Hancock resigned from the Company’s board of directors, leaving Donald Steinberg as the Company’s sole director. Kimberly Carlson has repeatedly created meaningful and lasting connections between business, community and the environment. Working since the age of 16 and awarded at the age of 21 for her unique approach to her first start-up business, she has a passion for forging new path to success for business and community.  

Donald Steinberg, the Company’s director, commented, “The name change to Mushrooms, Inc. is fundamental to the Company’s shift from a focus on the cannabis industry to the functional mushroom industry. I am thrilled to announce that our new CEO, Kimberly Carlson, will lead the transition to the emerging mushroom industry. Over the years I have watched her build companies through collective collaboration with her peers and competition. Her ability to bring people together from a variety of areas is welcome as we move into the Mushroom world. This is a vastly growing industry that offers so much to health and the environment as she brings forth new products and ideas to the forefront. She combines functional creativity with a high level of administrative talents that are essential to success in a newly emerging market.” 

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MSVI

Kimberly Carlson, CEO says “We see components of mushrooms successfully replacing leather, fiberglass insulation, packaging materials and so much more. This is a blossoming world that is just awakening into the minds of the consumer. The health benefits are continuing to unfold and the well-established contributions to wellness are being embraced in the marketplace. This is an exciting time to dive into the discovery and provide products that will not only benefit our bodies and minds but show that we can cost effectively switch to alternative methods of production that support the needed repair to our environment. We have divided our current business efforts into 3 major categories: Research & Development, Innovation, and Health. I believe this tri-focus will enable Mushrooms, Inc. to best develop, implement and share the benefits for mind, body and environment.” 

The Company also announced it has launched a new website www.mushroomsinc.com as part of the overall refocus of the Company. Management encourages its customers and shareholders to visit the site regularly for updates and helpful information on our Company and products. This is a beta version of the website that will be updated further in the coming weeks. 

In addition to the change of the Company’s name to Mushrooms, Inc., the amended and restated articles of incorporation were amended to increase the authorized number of shares of Series A Preferred Stock from 1,000,000 to 1,500,000, and to add the following provisions concerning: Management Matters, Stockholder Action, Bylaw provision, Board of Directors provision, Transactions with Stockholders provision, Limitation of Liability provision, Indemnification provision, Indemnification Provided in Bylaws provision, Place of Meeting, Corporate Books provision, Amended to Articles of Incorporation provision, and Exclusive Forum provision. 

Also, on June 27, 2022, the Company’s board of directors and holders of a majority of the issued and outstanding capital stock of the Company approved, and the Company adopted, its Second Amended and Restated Bylaws, which amend and restate the Company’s First Amended and Restated Bylaws to, amongst other things: incorporate the name change of the Company to Mushrooms, Inc. 

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Currently trading at a $5.7 million market valuation MSVI has 34,076,977 shares outstanding, 32,553,192 of which are restricted leaving a low float of just 1,478,442 shares. The Company also has very little debt with just $134k in total liabilities. MSVI is an exciting story developing in small caps; the Company recently reported a name change to Mushrooms, Inc., coming ticker symbol change to MYCO and change of business direction to support the growth of the mushroom industry through collaboration, innovation and development headed by a new CEO Kimberly Carlson. We will be updating on MSVI when more details emerge so make sure you are subscribed to Microcapdaily.

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

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