JAC071004
3 years ago
10k posted. Please read.
Although revenue down and share loss of $0.02 to $0.01, final net income is great at $3.7m compared to previous years.
Yes, a ton of work still needs to be done on their part but it’s positive to see that they are exploring more opportunities (below) and their shareholder count has gone up from 174 in 2020 to 205 in 2021. Yes debt is a concern but can be re-worked with legalization and banking options.
Diego is currently exploring opportunities in California, Colorado, Nevada, Florida, Washington and other states. The Company will continue to raise capital to finance that expansion. This should result in increased revenues for the future and increased opportunities into new markets.
EmptyBones
3 years ago
Company broke note selling continues 8k
On February 18, 2022 (“Issue Date”), Diego Pellicer Worldwide, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with GS Capital Partners, LLC (“GS Capital”), pursuant to which GS Capital purchased a convertible promissory note (the “Note”) from the Company in the aggregate principal amount of $165,000, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of GS Capital. The transaction contemplated by the Purchase Agreement closed on February 19, 2022. The Company intends to use the net proceeds ($160,000) from the Note for general working capital purposes.
The maturity date of the Note is February 17, 2023 (the “Maturity Date”). The Note shall bear interest at a rate of 8% per annum. Principal payments shall be made in ten (10) installments each in the amount of US$17,800 commencing on the ninetieth (90th) day anniversary following the Issue Date and continuing thereafter each thirty (30) days for ten (10) months. Notwithstanding the forgoing, the final payment of principal and interest shall be due on the Maturity Date. GS Capital has the option to convert all or any amount of the principal face amount of the Note from time to time, and at any time following an event of default, at the then-applicable conversion price. The conversion price for the Note shall be equal to the Variable Conversion Price (as defined herein) (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Company relating to the Company’s securities or the securities of any subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The “Variable Conversion Price” shall mean 65% multiplied by the Market Price (as defined herein) (representing a discount rate of 35%). “Market Price” means the average of the lowest three (3) trading prices for the Common Stock during the fifteen (15) trading day period ending on the latest complete trading day prior to the Conversion Date. Notwithstanding the foregoing, GS Capital shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by GS Capital and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock. The Note may be prepaid by the Company. Pursuant to the terms of the Purchase Agreement, the Company paid GS Capital’s fees and expenses in the aggregate amount of $5,000. The Note also contains an original issue discount of $5,000. The Company will also issue 1,700,000 shares of the Company’s common stock to GS Capital as additional consideration for the purchase of the Note.
Captainandy
3 years ago
#DPWW: Diego Pellicer Worldwide, Inc. Signs Non-Binding Letter Of Intent To Acquire Hemp Choice Distribution, LLC $0.01
https://diego-pellicer.com/
https://hempchoicedistribution.com/
https://www.globenewswire.com/news-release/2022/01/04/2360972/0/en/Diego-Pellicer-Worldwide-Inc-Signs-Non-Binding-Letter-Of-Intent-To-Acquire-Hemp-Choice-Distribution-LLC.html
https://ml.globenewswire.com/Resource/Download/d768c44b-82f9-49cd-83d3-4d108f062f16?size=3
Acquisition positions Diego Pellicer to expand into the hemp and CBD marketplace
January 04, 2022 10:07 ET | Source: Diego Pellicer Worldwide Inc
...
RENO, Nev., Jan. 04, 2022 (GLOBE NEWSWIRE) --
Diego Pellicer Worldwide, Inc. (OTC Market: DPWW), a premium cannabis company, today announced that it has signed a non-binding letter of intent to acquire Hemp Choice Distribution, LLC, a leading provider of full spectrum hemp and CBD. The $4.4 million dollar cash and stock deal includes an initial payment of $250,000 to Hemp Choice with the balance paid in common and preferred stock.
“This is an unprecedented time in the cannabis industry. We’ve positioned Diego Pellicer Worldwide, Inc. to seize the moment and further the company’s long-term business goals,” said Nello Gonfiantini III, chief executive officer, Diego Pellicer Worldwide, Inc. “Through this acquisition of a top-notch hemp and CBD company, Diego is able to expand into a product category within the cannabis marketplace that is rapidly growing and legal on the federal level.”
Hemp Choice Distribution is a leading distributor and provider of the highest-quality CBD and hemp. The company works with growers, processors, manufacturers and retailers to provide hemp and CBD for use in a wide variety of commercial and industrial products including body care, wellness, vaping, clothing, construction materials. CBD and other cannabinoids such as CBG, CBC and CBDA in oil and water soluble form, are nonpsychoactive. These cannabinoids are used for many therapeutic applications such as anxiety, pain and inflammation reduction.
“Together Hemp Choice and Diego are forging a solid path forward. This acquisition brings the management expertise of Diego Pellicer to a leading provider of hemp and CBD – one of the fastest growing segments of cannabis,” said Gabriela Vergara, CEO and founder, Hemp Choice Distribution, LLC. “I look forward to working with Diego to expand opportunities for both companies in the hemp and cannabis space.”
Hemp Choice Distribution, LLC, based out of Denver, Colo., will become a wholly owned subsidiary of DPWW. The definitive agreement is expected to be completed and signed in the first quarter of 2022.
About Diego Pellicer Worldwide, Inc. (OTC Market: DPWW)
Diego Pellicer Worldwide, Inc. is a premium cannabis company. The company actively seeks strategic acquisitions, partnerships and collaborations in cannabis, hemp and CBD companies. To learn more about how to become a Diego Pellicer partner or investor visit www.Diego-Pellicer.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). All statements that are not historical facts are “forward looking statements.” The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. Investors should consider this cautionary statement and furthermore, no assurance can be made that the transaction described in this press release will be consummated. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.