Hi All,
The reality in this deal like a lot of others, is that things HAVE been delayed due to Covid. We had delays with the Macedonian government issuing the relevant licenses and delays with the German government inspecting the facility - this was rescheduled 5 times between March 2020 to when it recently happened, we've had shut downs, travel restrictions, personnel issues and changes, COVID cases, run out of money a few times etc etc. I acknowledge that we could have make more money elsewhere as one of you shareholders pointed out to me recently (which I obviously know) but at the time when 1PG was going to zero, this was the path all shareholders chose - so here we are. We (the Directors) have put our personal money into the company to keep it alive these last two years for the benefit of ALL shareholders and as a result the company is now in a position to move forward.
We have all licenses and facilities in place for the production, transportation, storage, export, import and distribution of medical grade cannabis oil and flower. We are one of the only fully operational EU (German) GMP certified grow facilities in the world that can produce flower and extract product at a competitive price in volume. As we now have a great company and with the first sale of flower and extract into Germany imminent, we are confident that the value inflection point is close and will update shareholders in due course and as information comes to hand.
Shortly you will be asked to vote on us converting the debt to equity in order to get the company ready for the next stage which will hopefully be a liquidity event in the medium term thereafter.
Should anyone have any queries, please feel free to call.
Regards,
Andrew.
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