Past year: ▼ 98%(0.01c – 7.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
27 June 2019material agreement● NeutralMajor
Took an exclusive licence to sell CB Scientific's Test4 cannabis test kits under its ProMED brand, paying a 30-40% royalty on every kit. The third deal announced in a month, and the only one with an actual product attached; six weeks later the company stopped filing altogether.
21 June 2019material agreement▼ BadMajor
Two weeks later, a second agreement-to-agree: 51% of Hemp Bloom LLC and its 600 acres in Colorado and Oregon, with the filing projecting $38 million of CBD or $182 million of CBG revenue by 2020 while conceding it might not be able to farm the land at all. Nothing further was ever filed about it.
5 June 2019material agreement▼ BadMajor
Announced it had "agreed to come to a definitive agreement" to buy 51% of Hemp Sciences Corp for 60 million shares valued at six cents each, doubling the share count for a business that is a division of Nuvus Corp - one of the related parties that had been lending the company its operating cash. No definitive agreement or completion was ever filed.
14 Dec 2018other material event● NeutralMajor
The Florida circuit court gave the company what it asked for: an order finding it was not and never had been a shell company, freeing shareholders to sell under Rule 144. The company's own history - incorporated to explore minerals, never mining, then licensing, then a reverse takeover - is exactly the shape the shell definition exists to catch.
29 Nov 2018other material event● NeutralMajor
Sued in a Florida state court for a declaration that it had never been a "shell" company, after a broker's lawyer told shareholders it had been - which would block them from selling under Rule 144. A company asking a county court to settle a federal securities-law question about its own past.
31 Aug 2018business combination● NeutralMajor
Filed the full disclosure record for the Apotheca takeover, which had actually closed on 6 March 2018 and been announced by press release in June - roughly six months before this filing. The company moved to St Petersburg, Florida, said it had no revenue and a going-concern problem, and disclosed that its cash had come from small related-party loans; chairman Sam Talari is described as holding about 68% of the votes.
7 May 2018material agreement termination▼ BadMajor
Walked away from both Washington deals at once: the Affordable Green licence was settled and cancelled for 2.6 million restricted shares, and the Green Venture / MMS Farms letter of intent was terminated with nothing ever paid. Fourteen months and a string of small payments produced no business, and the shares came out of shareholders' pockets.
9 Mar 2018business combination● NeutralMajor
Agreed to issue 60 million shares for all of Apotheca Biosciences, a Nevada corporation, which would take control of the board and officers and rename the company. Closing was projected for the end of March 2018.
18 Dec 2017auditor change▼ Bad
Dismissed auditor TAAD LLP, which had put a going-concern warning on both of the company's audited years because it needed money simply to service its debt. No replacement auditor was named in the filing.
2 Nov 2017material agreement● NeutralMajor
Signed a second letter of intent, this time to take over Green Venture Capital's own letter of intent with MMS Farms, a licensed Washington marijuana grower, for $500,000 payable in instalments. A deal to buy a right to a deal - and still four months behind on the first licence it signed.
7 Aug 2017material agreement▼ BadMajor
Chief executive Jason Sakowski bought 27 million restricted shares from the company's former directors and officers for a combined $15,000, taking control outright. Control of a listed company changed hands for the price of a used car, with payment not due until March 2018.
1 Aug 2017material agreement▼ BadMajor
On 25 July 2017 the company, now named Cannabis Leaf, Inc., signed an addendum to its Affordable Green Washington licence, raising the total fee again to $2,300,000 with a new schedule running to 26 October 2017. Of that, only the first four payments totalling $60,000 are marked paid; the licensor also gets 100,000 restricted shares on closing, and another 100,000 if a payment is more than 15 days late after 25 August 2017. The filing also records a move of the company's address to 4500 9th Avenue NE, Seattle. This continues the licence deal, with the fee and payment dates changed a second time.
31 July 2017material agreement▼ BadMajor
Rewrote the Affordable Green licence again, raising the total to $2.3 million with a new schedule to 26 October 2017. Only $60,000 in four payments was marked paid, and the licensor was also to receive 100,000 restricted shares.
22 June 2017bylaws amendment● NeutralMajor
Renamed itself Cannabis Leaf Incorporated by merging a shell subsidiary of that name into itself - a paperwork device that needed no shareholder vote - and at the same time multiplied its shares six-for-one and raised its authorised capital. The mineral-exploration identity was formally dropped for a cannabis one.
6 June 2017material agreement▼ BadMajor
On 1 June 2017 the company (still named Pacificorp Holdings) amended its Washington State licence with Affordable Green Washington LLC, raising the total fee to $2,200,000 and replacing the earlier schedule with a new one. Payments of $25,000, $9,800 were acknowledged as received, with $15,200 and $10,000 due in early June and the rest in stages from $75,000 on 30 June up to a final $815,000 on 30 October 2017. This continues the May licence deal on a larger and more spread-out payment plan.
9 May 2017material agreement● NeutralMajor
Converted the March letter of intent into a definitive exclusive licence with Affordable Green Washington, due $25,000 on signing, $100,000 by end of May and $2 million by 30 September 2017. Director Wan Soo Lee resigned the same day.
4 Apr 2017material agreement● NeutralMajor
Pacificorp Holdings - a Nevada shell incorporated in 2014 to explore mineral properties, with no mining ever done - signed a letter of intent to license Affordable Green Washington's marijuana products and marketing model for Washington State, promising $2.1 million in stages. The first move in a three-year hunt for a business to be in.
