Protext Announces the Following Disclosures Have Been Included in the Company’s Most Recently Filed Q1, 2023 Financial Report
- Protext Mobility, Inc received a contribution of 15,000,000 Genus Cannabis Sativa Seeds valued at $15,000,000. Retail market price for similar seeds ranged from $15-25 euro per seed. The company entered into a supply agreement to fulfill orders and ship products derived from hemp and CBD to end customers worldwide.
- None.
WILMINGTON, DE / ACCESSWIRE / July 28, 2023 / Protext Mobility, Inc (OTC:TXTM) announces today as follows:
Inventory
On December 15, 2022, the Company's President and Chairman of the Board contributed approximately 15,000,000 Genus Cannabis Sativa Seeds (the "Seeds") to the Company as an equity contribution (the "Contribution"). The Contribution was recorded as Genus Cannabis Sativa Seed inventory at historical cost to the Company's President and Chairman of the Board of
Supply Agreement
As part of the Company's general business, it plans to fulfill orders and ship products to end customers around the world, including biomass derived from hemp, raw or processed CBD, and/or finished health and wellness products containing CBD (derived from Genus Cannabis Sativa). The end products are anticipated to be shipped as partial shipments (LCL) to the end customer in compliance with the rules and regulations of each jurisdiction involved by the responsible parties. Such that the Company can fulfill orders, the Company entered into a Supply Agreement with its President and Chairman of the Board in his capacity as an independent fourth-generation farmer who controls, among other things, a 5,000-hectare farm in the jurisdiction of New Castle, South Africa. The Company's President and Chairman of the Board in his individual capacity as an independent farmer controls certain permits related to activities such as cultivation, import/export of various agricultural products including but not limited to genus cannabis sativa. The Company does not plant, own or control any farm, and has no permit. The Company's President and Chairman of the Board, in his capacity as an independent farmer and a team, managed by the Company's CEO- Dylon Du Plooy, in his individual capacity, are responsible for planting hemp crops derived from Genus Cannabis Sativa seeds at a farm controlled by the Company's President and Chairman of the Board. In the future, the Company's President and Chairman of the Board may provide the Company with access to, and/or the Company may receive benefit from, permits controlled by the Chairman. There are no guarantees that this will occur. Furthermore, the Company does not need such access, specifically to permits held by its President and Chairman of the Board in his individual capacity as a private citizen and independent farmerwithin jurisdiction of South Africa, to carry out its business endeavors such as fulfilling and shipping product to end customers
CONTACT INFORMATION
Dylon Du Plooy at: dylon@rsammd.co.za
Dr.J at: exportintl@aol.com
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https://twitter.com/ProtextP
About Protext (OTC:TXTM)
Through its prior acquisitions, Protext has engaged in the research, testing and development of highly bioavailable botanical products all-natural ingredients formulated for nutraceutical and pharmaceutical applications through the use of proprietary live plant extraction technology.
Website: www.protxtm.com
Safe Harbor Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward- looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward- looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
SOURCE: ProText Mobility, Inc.
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FAQ
What was the value of the contribution made to Protext Mobility, Inc?
What is the retail market price for similar seeds?
What does the supply agreement entail?
