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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.
Capstone Companies (OTC: CAPC) reported its Q1 2022 financial results on May 16, indicating delays in product launches due to logistical issues. Minimal revenues from mirror sales were noted in the quarter, with significant inventory expected for future shipments. CEO Stewart Wallach announced a new marketing strategy involving digital asset creation and raised non-dilutive working capital. CFO Gerry McClinton confirmed $1.4 million in retail inventory ready for distribution. Company insiders have maintained their shares, supporting Capstone through $1.6 million in working capital over the past nine months.
Capstone Companies (OTC: CAPC), based in Deerfield Beach, Fla., reported its 2021 financial results amid pandemic challenges. The Smart Mirror portfolio has been finalized, with inventory now available. CFO Gerry McClinton highlighted the company's focus on strategic development and financial management for future growth. CEO Stewart Wallach acknowledged the testing business environment faced in 2021 but expressed confidence in the management team's ability to navigate these challenges. A webcast to discuss results and outlook is scheduled for April 1, 2022.
Capstone Companies, Inc. (OTC: CAPC) announced it will release its Year-End 2021 financial results after market close on March 31, 2021. Following this, a conference call will be held on April 1, 2022 at 10:30 a.m. ET, where CEO Stewart Wallach will discuss the financial results and future strategies. A telephonic replay will be accessible until April 8, 2021. More information and a webcast archive can be found on the Company’s website.
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