Capstone Companies and Coppermine Ventures Sign MOU to Initiate Strategic Collaboration
Capstone Companies (OTCQB: CAPC) has signed a Memorandum of Understanding (MOU) with Coppermine Ventures to develop an online customer registration and management application for Coppermine's 20 health, fitness, and social activities facilities in Maryland.
The plan development is expected to complete by May 31, 2025, with implementation aimed for 2025. The application's development is contingent on plan acceptance, signing of a definitive agreement, and funding from Coppermine, which currently serves approximately 35,000 customers annually.
Notably, Coppermine has provided working capital funding for Capstone's corporate maintenance through Q3 2025. Coppermine's founder Alexander Jacobs also serves as Capstone's CEO and director. The application, if successful, could potentially be licensed to third-party operators in the health, fitness, and social activities industry.
Capstone Companies (OTCQB: CAPC) ha firmato un Memorandum of Understanding (MOU) con Coppermine Ventures per sviluppare un'applicazione online per la registrazione e la gestione dei clienti per le 20 strutture di salute, fitness e attività sociali di Coppermine nel Maryland.
Lo sviluppo del piano è previsto per essere completato entro il 31 maggio 2025, con l'implementazione mirata per il 2025. Lo sviluppo dell'applicazione è subordinato all'accettazione del piano, alla firma di un accordo definitivo e al finanziamento da parte di Coppermine, che attualmente serve circa 35.000 clienti all'anno.
È importante notare che Coppermine ha fornito finanziamenti di capitale circolante per la manutenzione aziendale di Capstone fino al terzo trimestre del 2025. Il fondatore di Coppermine, Alexander Jacobs, ricopre anche il ruolo di CEO e direttore di Capstone. L'applicazione, se avrà successo, potrebbe essere potenzialmente concessa in licenza a operatori terzi nel settore della salute, fitness e attività sociali.
Capstone Companies (OTCQB: CAPC) ha firmado un Memorando de Entendimiento (MOU) con Coppermine Ventures para desarrollar una aplicación en línea para el registro y la gestión de clientes para las 20 instalaciones de salud, fitness y actividades sociales de Coppermine en Maryland.
Se espera que el desarrollo del plan se complete para el 31 de mayo de 2025, con la implementación prevista para 2025. El desarrollo de la aplicación depende de la aceptación del plan, la firma de un acuerdo definitivo y la financiación por parte de Coppermine, que actualmente atiende aproximadamente a 35,000 clientes anualmente.
Notablemente, Coppermine ha proporcionado financiación de capital de trabajo para el mantenimiento corporativo de Capstone hasta el tercer trimestre de 2025. El fundador de Coppermine, Alexander Jacobs, también es CEO y director de Capstone. La aplicación, si tiene éxito, podría ser licenciada a operadores de terceros en la industria de la salud, fitness y actividades sociales.
Capstone Companies (OTCQB: CAPC)는 Coppermine Ventures와 함께 메릴랜드에 있는 20개의 건강, 피트니스 및 사회 활동 시설을 위한 온라인 고객 등록 및 관리 애플리케이션을 개발하기 위한 양해각서(MOU)를 체결했습니다.
계획 개발은 2025년 5월 31일까지 완료될 것으로 예상되며, 2025년 구현을 목표로 하고 있습니다. 애플리케이션 개발은 계획 수용, 최종 계약 서명 및 Coppermine의 자금 지원에 따라 달라지며, 현재 연간 약 35,000명의 고객을 서비스하고 있습니다.
특히, Coppermine은 2025년 3분기까지 Capstone의 기업 유지 관리를 위한 운영 자본을 제공했습니다. Coppermine의 창립자인 Alexander Jacobs는 또한 Capstone의 CEO이자 이사로 활동하고 있습니다. 애플리케이션이 성공하면 건강, 피트니스 및 사회 활동 산업의 제3자 운영자에게 라이센스될 수 있습니다.
Capstone Companies (OTCQB: CAPC) a signé un protocole d'accord (MOU) avec Coppermine Ventures pour développer une application en ligne de gestion et d'enregistrement des clients pour les 20 installations de santé, de fitness et d'activités sociales de Coppermine dans le Maryland.
Le développement du plan devrait être achevé d'ici le 31 mai 2025, avec une mise en œuvre prévue pour 2025. Le développement de l'application dépend de l'acceptation du plan, de la signature d'un accord définitif et du financement par Coppermine, qui sert actuellement environ 35 000 clients par an.
Il est à noter que Coppermine a fourni un financement de fonds de roulement pour le maintien de Capstone jusqu'au troisième trimestre 2025. Le fondateur de Coppermine, Alexander Jacobs, est également CEO et directeur de Capstone. L'application, si elle réussit, pourrait potentiellement être licenciée à des opérateurs tiers dans le secteur de la santé, du fitness et des activités sociales.
Capstone Companies (OTCQB: CAPC) hat ein Memorandum of Understanding (MOU) mit Coppermine Ventures unterzeichnet, um eine Online-Kundenregistrierungs- und Verwaltungsanwendung für die 20 Gesundheits-, Fitness- und Sozialaktivitäten-Einrichtungen von Coppermine in Maryland zu entwickeln.
Die Planung soll bis zum 31. Mai 2025 abgeschlossen sein, mit der Implementierung, die für 2025 angestrebt wird. Die Entwicklung der Anwendung hängt von der Annahme des Plans, der Unterzeichnung eines endgültigen Vertrags und der Finanzierung durch Coppermine ab, das derzeit etwa 35.000 Kunden jährlich bedient.
Bemerkenswert ist, dass Coppermine bis zum dritten Quartal 2025 Betriebskapital für die Unternehmensführung von Capstone bereitgestellt hat. Der Gründer von Coppermine, Alexander Jacobs, ist auch CEO und Direktor von Capstone. Die Anwendung könnte, falls erfolgreich, an Drittanbieter im Gesundheits-, Fitness- und Sozialaktivitätensektor lizenziert werden.
- Potential new revenue stream through third-party licensing of the application
- Secured working capital funding through Q3 2025
- Access to established customer base of 35,000 annual users
- Development contingent on external funding from Coppermine
- Auditors express doubt about company as going concern
- public market liquidity as penny stock company
- Additional working capital needed beyond Q3 2025
“The Memorandum of Understanding (MOU) is another step forward in the health, fitness and social activities business (HFS business) by Capstone and in its relationship with Coppermine. Besides improving Coppermine’s operations, a functioning Application could potentially be licensed by Capstone to third party operators in the health, fitness and social activities industry as well as be used in any future HFS business facilities developed or acquired by our company,” said Stewart Wallach, Capstone’s Chairman of the Board of Directors.
Coppermine has provided working capital funding for Capstone’s basic corporate maintenance overhead through the third fiscal quarter of 2025 and Coppermine’s founder, owner and manager is Alexander Jacobs, who is also Capstone’s Chief Executive Officer and a director.
About Capstone. Capstone is engaged in the development of HFS business and licensing of its Connected Chef smart device.
About Coppermine. Coppermine is the managing company for a HFS business that operates 20 HFS business facilities in
FORWARD-LOOKING STATEMENTS. Except for statements of historical fact in this press release, the information contained in this press release may contain forward-looking statements, which statements are characterized by words like “seeking,” “should,” “may,” “intend,’ “expect,” “hope,” “believe,” “anticipate” and similar words. Forward looking statements are not guarantees of future performance and undue reliance should not be placed on them. Forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any statements about future performance or results expressed or implied by such forward-looking statements. If Coppermine accepts the Plan and enters into the Agreement, the ability of the Company to develop the CRM Application will depend on funding of that development fees and costs by Coppermine. The Company’s operations during 2024 and into 2025 consisted of the development of year-round health, fitness and social offering business (“HFS business”) and licensing of its existing Connected Chef product line to third party distributors and manufacturers. The Company relies on working capital funding from third parties, including Coppermine, to sustain its corporate existence and fund meeting the compliance costs of an SEC reporting company with its stock quoted on the OTC QB Venture Market. The Company will require additional third-party funding in 2025 to implement the HFS business and fully pursue the Connected Chef product licensing, which funding as not be obtained as of the date of this Form 8-K report. Further, additional working capital funding is needed to meet corporate compliance costs beyond the third fiscal quarter of 2025. The business and financial results of other companies, like Coppermine, should not be construed as an indication or representation of the future financial and business results of the Company in the HFS business. The Company is a “penny stock” company with limited public market liquidity and no primary market makers. Further, the public auditors of the Company have expressed doubt as to the Company as a going concern. Any investment in Company’s common stock is highly risky and should only be considered by investors who can afford to lose their entire investment. The risk factors in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and other filings with the SEC should be carefully considered prior to any investment decision. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on any forward-looking statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250313084956/en/
Contact information and media inquiries:
irinquiries@capstonecompaniesinc.com
Telephone: (954) 570-8889, ext. 315
Source: Capstone Companies, Inc.
FAQ
What is the purpose of the MOU between Capstone Companies (CAPC) and Coppermine Ventures?
When is the expected completion date for CAPC's application development plan?
How many facilities will benefit from CAPC's new application system?
What is the current funding arrangement between CAPC and Coppermine Ventures?
