fltunes
2 weeks ago
Is it just me, or is this a shell game that acts more like "Groundhog Day"?
On September 28, 2021, the Company signed a Letter of Intent to acquire a 4.99 % equity position in Makana Ola Farms in
Humboldt, California. The letter of Intent established a 4.99% equity position for Livewire Ergogenics with an option for 100% (one
hundred percent) equity ownership subject to specific legal, licensing, and financial milestones. LiveWire's due diligence process has
been concluded, and it has executed a definitive agreement to acquire one hundred percent of Makana Ola via a performance-based
earn-out. It will not require issuing any additional LiveWire common shares. Accounting treatment for this acquisition had been
detailed in the 4th quarter of 2022. As of December 31, 2023, the company has decided to terminate the agreement to purchase 100%
of Makana Ola; no additional shares have been issued, and the change has no material impact on financial results.
On October 10, 2021, the Company signed an agreement to acquire a 51% majority equity position in Estrella Ranch Partners, LLC.
On March 7, 2023, Livewire signed an option to acquire a majority equity stake in Los Angeles Cannabis's direct-to-consumer
delivery company, Green Eagle. Entering the final agreement is subject to satisfactory due diligence and Green Eagle meeting
specific financial milestones. This transaction requires approval from city and state agencies, and the company is waiting for this
information from the current license holder. As of the end of Q3 2023, the company has decided not to execute its option.
Livewire has secured the option to acquire equity ownership in Estrella River Farms at its sole discretion. It is subject to clarifying
the discrepancies between Federal, State, and local ordinances and other specific legal, licensing, and financial laws and conditions to
the company's satisfaction.
We keep putting money into all these other ventures, then backing out of the deal. Nice way to hide money, or launder money?????
Louied91
2 weeks ago
$LVVV Livewire announced Financial Results for the First Quarter 2024
https://stockwatchindex.com/livewire-announced-financial-results-for-the-first-quarter-2024/
Anaheim, CA, May 21, 2024 — LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, leasing, and licensing special-purpose real estate properties and operations conducive to producing high-quality, handcrafted, and sun-grown cannabis specialty products for medical and recreational adult use in California, today announced financial results for the first quarter 2024.
Bill Hodson, CEO of LiveWire Ergogenics, states, “While revenue for Q1 2024 was lower than in 2023, we could still generate a profitable quarter. Since the first quarter of 2022, the company has now generated nine consecutive profitable quarters. The first quarter of 2024 was an intense preparation and growth reorganizational quarter for our affiliate Estrella River Farms in preparation for two high-quality harvests in 2024 and significant revenue increases for Livewire in Q3 and Q4 of 2024.”
“Despite the lower revenue, we could still produce a ninth profitable quarter based on our financial discipline and strict cost control. We continue to focus on running an operation with the lowest possible overhead and are reinvesting all cash generated back into operations to facilitate and expand the growth of the best sun-grown cannabis in California. At the same time, we have been developing new “Estrella Weedery” products for introduction into distribution and maximizing efficiency with an outlook to improve financial performance for 2024 significantly.”
Estrella River Farms, our licensed grower on Estrella Ranch, is currently cultivating three (3) acres of licensed canopy. They have planted over twelve (12) high-producing strains, with plans to harvest in June.