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Wednesday, November 30, 2022

ProText Mobility, Inc. (OTCMKTS: TXTM) Rapid Drop After RSAMMD Slapped with Skull & Crossbones

ProText Mobility, Inc. (OTCMKTS: TXTM) saw a massive drop on Monday November 14 to lows of $0.0013 after the Company was slapped with the dreaded skull & crossbones designation from OTCMarkets. TXTM reported it is working hard to resolve the matter in the shortest possible time. According to the Company: “We have engaged with SEC legal counsel to provide assistance and guidance in seeking to have the CE removed quickly and will keep you updated during the process.” 

TXTM management continued: “Our promise to our shareholders is that everything we are doing is with your best interests at the forefront.  Please be assured that the fundamentals of the company remain strong and we remain 100% committed to delivering on the Protext mission and business plan. We will keep you updated with developments via the company’s official Twitter channel and through subsequent statements.  We are very confident that we will resolve this issue promptly, and that Protext will come through this time of uncertainty in a stronger position than ever before.” 

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RSA Medical Marijuana Dispensaries RSAMMD™ is a fully licensed health practitioners, qualified to dispense and prescribe medical cannabis in South Africa. The Company offers superior patient care and 100% Indoor and greenhouse grown cannabis ensuring patients receive clean, safe, and pure medical cannabis products. RSAMMD has 2 commerical licenses, 1 dispensing, importation & prescription license, 2 permits, 1 seed bank cultivar and with an annual production of 35,000 kilograms per year.

Earlier in November TXTM announced an initial order for 2.33 million pounds of Genus Cannabis Sativa under a supply agreement. 

Dr. Ahmed Jamaloodeen (Dr.J), Protext Chairman commented, “This is a terrific milestone and demonstrates years of hard work and relentless pursuit of educating the masses and government collaboration. The initial order calls for the delivery of 2.33 million pounds of cannabis, arguably the largest single cannabis flower and biomass order in history to date post legalization. The specific strain we are growing for this order is Charlottes Angel for high percentage CBD flower and biomass. Everything we do is under South Africa federally issued permits, and license to import, export, grow hemp and cannabis from seed to sale, R & D, as well as develop and distribute our own brand of finished products. 

“Our proprietary, branded CBD product line and online marketplace is anticipated to launch shortly. Due to our early pioneering of hemp and cannabis as a massive community uplift opportunity in South Africa, we were approved as the first government sponsored pilot project that would enable proof of concept to other farms as a blueprint of this business model. This early blueprint is now a proven business model for South African farmers, and we are now at the forefront of SA becoming a recognized global leader in hemp and cannabis production. To further these efforts, last week I attended the AFASA AGM conference and gave a presentation to 1000s of farmers who are now part of the Cannabis Commodity Cluster Formation, which Ive been appointed as National Cannabis Commodity Chairman The first in history. (link to Dr.J Cannabis Expo 2022 presentation discussing SA community uplift and cannabis: youtube.com/DR.J) 

Dylon Du Plooy, Protext CEO, commented, The hemp renaissance is well underway, with renewed interest from global industrial companies to find cheaper and greener resources that can be used to produce 1000s of end product. America is decades behind the sustainable materials revolution. That represents a big opportunity for us to unlock the potential of industrial hemp in the worlds strongest economy, with the lowest cost product available globally. For South Africa, the opportunity is to take a global role in what we believe is the beginning of an industrial hemp renaissance. We can not only produce product at the lowest cost basis on a global basis, but we can monetize the farm with 3 annual grows, making our hemp, biomass, and cannabis much sought after from customers around the world. In fact, this substantial off take agreement for an initial 2.3 million pounds is being delivered to a US customer. Why? Not only for the quality of the product, but our cost basis is so competitive we can deliver product that includes freight shipping cost to US customers, that is lower than they can get anywhere in North America. #TXTMTribe #TXTMTribeRaok #TXTMRaok. 

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Dr. J continued, As we have previously discussed, we believe there is significant value in the human capital derived from our knowledge, Government and other relationships, compliance, resources, facilities, biomass, and infrastructure that is invaluable. The Permits we are in possession of allow for Genus Cannabis Sativa import, export, grow & cultivation, research, testing, and end product development for global distribution, all of which are anticipated to be utilized by Protext with the end goal to commercialize the live plant extraction technology and bring superior end products to the global market. Having technology thats been tested and proven to increased bioavailability by 10-15x is significant and puts us miles ahead of all competitors. Additional testing is anticipated to be conducted with cannabis being grown on the farm right now. The testing will focus on maximizing yield as well as testing various strains of Genus Cannabis Sativa. We will also begin conducting the R&D using the New Age Extraction Technology for other Indigenous Plant Flora with medicinal properties including Psilocybin. We believe that the significance of the implications our live plant Extraction Technology can have on not only our yield, but also on an entire industry with its 10-15X Bioavailability has been over looked due to the complexity of the science. In laymans terms we stand to produce Natural Plant Based Medicine with 10-15 times more bioavailability than current products on the market, at a fraction of the cost. 

On November 14 TXTM announced on November 11, 2022, the OTCMarkets placed a caveat emptor designation on the Company’s trading symbol.  The Company has issued the following Official Company Statement to update its shareholders.  

“Dear Shareholders: We wish to update you on the matter concerning the CE that was placed on TXTM by OTC Markets after the close on Friday, November 11, 2022. Management is working hard to resolve the matter in the shortest possible time. We have engaged with SEC legal counsel to provide assistance and guidance in seeking to have the CE removed quickly and will keep you updated during the process. Our promise to our shareholders is that everything we are doing is with your best interests at the forefront.  Please be assured that the fundamentals of the company remain strong and we remain 100% committed to delivering on the Protext mission and business plan. We will keep you updated with developments via the company’s official Twitter channel and through subsequent statements.  We are very confident that we will resolve this issue promptly, and that Protext will come through this time of uncertainty in a stronger position than ever before.” 

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Currently trading at a $51 million market valuation TXTM saw a massive drop on Monday November 14 to lows of $0.0013 after the Company was slapped with the dreaded skull & crossbones designation from OTCMarkets. TXTM reported it is working hard to resolve the matter in the shortest possible time. TXTM does have a massive and very loyal shareholder following that believe in the Company and its ability to overcome this. Already the stock is up significantly from the day’s lows. Microcapdaily will be covering RSAMMD as it happens so make sure you subscribe to Microcapdaily right now so you don’t miss it. 

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

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