I write to NK this week-end, he answer quickly!
Sam 2021-02-20 18:54
Hello I am writing to you today regarding AgraFlora Organics Intl. Agraflora published a press release dated February 11, 2021. This press release intended for shareholders is very complex and even a specialized lawyer would have a lot of work to do to understand
Nicholas Konkin <nk@kcapitalmarkets.com>
Lun 2021-02-22 12:28
Thanks for your email. I have included my answers below in red.
Please contact me if you have any other questions.
Nicholas Konkin • Managing Partner
Phone: 416.567.9087 • nk@kcapitalmarkets.com
401 Bay Street • Suite 2702 • Toronto, ON • M5H 2Y4
Date: Saturday, February 20, 2021 at 6:54 PM
To: nk@kcapitalmarkets.com <nk@kcapitalmarkets.com>
Subject: Agraflora
Me:I am writing to you today regarding AgraFlora Organics Intl.
Me: Agraflora published a press release dated February 11, 2021. This press release intended for shareholders is very complex and even a specialized lawyer would have a lot of work to do to understand all the ins and outs.
Answer of NK : Agreed on the complicated messaging. In summary: The company had to do some “housekeeping” on some convertible debt that was outstanding on the books. They did this in order to clean up the financials and get ready for revenue generation.
Me : As a shareholder I would like to have a comprehensive summary of Agraflora's financial situation.
NK: The financials for year-end should be available before the end of March AGM. That will be your best financial summary.
NK ; There will be an annual report and Managing discussion document available on SEDAR shortly.
Me: Edible is discussed in this press release. What is the current situation? What is the percentage of Agraflora in this project? Is all the equipment for the full production operation of Edible purchased, paid for?
NK; Edibles and Infusions was mentioned. Over the course of the last few quarters, close investors of AGRA provided financing to EIC in order continue pushing R&D trials and achieve licensed status. This was part of the clean-up.
NK: AGRAs direct % stands at 49.75%
Me: Does Agraflora still have a stake in Empowerclinics? If so what is it?
NK: AGRA does have a position in EMPOWER but has not commented on how much of a position that is.
Me: What is AgraFlora's discounted debt to date? How many shares in circulation?
NK: Currently there is approximately 1.7 billion shares outstanding.
I write back to NK for more information about Edible. He didn't answer about production equipment.