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Capstone Companies (OTCQB: CAPC) has secured an expanded financial commitment from Coppermine Ventures through an Amended and Restated Promissory Note dated January 29, 2025. The funding available has been increased from $125,914 to $485,163, intended to cover basic corporate maintenance and compliance expenses through Q3 2025.
The company, formerly a producer of LED and Smart Mirror consumer products, has ceased its consumer product operations due to declining sales. CAPC is currently seeking to establish new revenue-generating operations through internal development, merger, acquisition, or a combination of these strategies. The company currently generates no revenue, and the Coppermine funding is strictly to maintaining corporate existence and basic compliance costs.
Capstone Companies (OTCQB: CAPC) has appointed Brian Rosen as a non-employee director, effective January 20, 2025. Rosen brings extensive experience in marketing, business development, contract negotiation, and government relations, having served in senior roles at Novavax and the Leukemia & Lymphoma Society.
The appointment aligns with CAPC's strategic shift following the discontinuation of its LED and Smart Mirror consumer products division. The company, currently generating no revenue, is actively seeking to establish new business lines through internal development, merger, acquisition, or a combination thereof. The addition of Rosen, with his background in pursuing revenue-generating opportunities, is part of CAPC's broader initiative to develop year-round social, fitness, and health programs and facilities.
Capstone Companies (OTCQB: CAPC) has appointed Warner H. Session as an independent director, effective January 9, 2025. Session, principal of Session Law Firm in Washington, D.C., brings extensive experience in government relations, business development, and real estate transactions since 1991. He previously served on the Board of Directors for the Metropolitan Washington Airports Authority and worked in the U.S. House of Representatives.
This appointment aligns with Capstone's strategic shift from LED and Smart Mirror consumer products to developing a new business focused on year-round social, athletic, and fitness programs. The company, which currently has no revenue-generating operations, is actively seeking to establish new business lines through internal development, merger, acquisition, or a combination of these approaches.
Capstone Companies (OTCQB: CAPC) has announced a strategic shift to develop and operate sports-entertainment recreational centers. The facilities will offer activities like pickleball and padel, combined with food-drink services and entertainment options including live music, sports bars, and gaming areas.
The initial geographic focus includes Virginia, North Carolina, Georgia, Florida, and New Jersey. The company received $125,914 in working capital funding from Coppermine Ventures, (CVEN) in October 2024, with an additional $218,640 committed through Q1 2025. CVEN has already funded $50,018 of this amount.
The company closed its consumer products business in 2024 due to insufficient sales and currently has no revenue-generating operations. Success of the new strategy depends on securing additional third-party funding.
Capstone Companies announced the appointment of Alexander Jacobs as its new CEO and director. Jacobs, founder of Coppermine Ventures, will focus on developing a new business line and generating revenue. Coppermine Ventures, a profitable business with 20 facilities in Maryland, offers various social, athletic, and fitness programs. Jacobs, an experienced entrepreneur, built Coppermine from a startup to a successful enterprise serving 35,000 families with over 700 employees.
Stewart Wallach, Chair of Capstone's Board, praised Jacobs' ability to develop successful businesses. Jacobs expressed his enthusiasm for creating sustainable businesses that benefit children, families, and adults through sports and social activities.
Coppermine Ventures provided $125,914 in working capital funding to Capstone in October 2024 and is obligated to provide an additional $218,640 through the first fiscal quarter of 2025 under a Management Transition Agreement (MTA). This funding allows Coppermine to nominate candidates for CEO and board positions, subject to verification by Capstone's Board.
Capstone, previously engaged in LED and Smart Mirror products, ceased operations in 2023 due to declining sales. The company is now seeking to establish new revenue-generating operations through new management and strategic development.
Capstone Companies, Inc. (OTC: CAPC) was featured on The Kelly Clarkson Show, highlighting its Capstone Connected Thin Cast Smart Mirror. CEO Stewart Wallach expressed enthusiasm about the product's inclusion in the Holiday Gift Guide, referring to the mirror as 'cool' and 'magical.' The company is currently offering year-end sale pricing and immediate shipping through CapstoneConnected.com. This exposure on a popular daytime show may enhance brand visibility and potentially drive product sales.
Capstone Companies, Inc. (OTC: CAPC) announces a webcast featuring CEO Stewart Wallach to discuss strategic updates for 2022, focusing on marketing initiatives for the Capstone Connected Portfolio. The event is scheduled for May 20, 2022, at 10:30 a.m. ET. A telephonic replay will be available until May 27, 2022. The company emphasizes its commitment to leveraging technology to enhance consumer products, especially in smart mirrors. Investors are encouraged to check the company's website for additional details and updates.
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