Some shareholders have written to me asking whether I am committed to carrying out a reverse split. The plain answer is no. I would prefer not to and have taken no steps to initiate it.
My earlier comments characterizing a reverse split as “more likely than not” demonstrate integrity by being transparent on the subject, revealing the possibility and describing the circumstances under which it could be positive or less problematic..
The preferred option is to complete a private placement sufficient in size so that the firm can take initiatives that are now in the wings and actionable soon. We have candidate joint ventures whose ability to project Winning Brands into new accounts and into new markets are both real and substantial. My preference is that our shareholder group can benefit from this growth directly and simply by avoiding a reverse split. Most shareholders also feel that these business developments are more likely to benefit them if they occur without a reverse split.
Sufficient capital is required for Winning Brands to be a reliable partner in the proposed joint ventures.
This CEO Weblog is recognized as a source of public disclosure under the SEC fair disclosure guidelines, as well as our websites, including www.InnovatorsCommunity.com A key feature of the 2015 changes in the spirit of Regulation A is the concept of “testing the waters”. This concept makes it permissible for firms to ascertain in advance what the interest would be in a direct capital placement, subject to proper SEC authorization prior to the acceptance of such funds.
Therefore, in this public venue, where no person is given improper advantage over another, I am confirming that the company would be willing to replace a reverse split with private placement, As a practical matter, the aggregate amount that the firm would require in order for this to be a serious alternative is a minimum of $1 Million, although no single participant’s placement needs to be of this size.
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If you would like to be considered a candidate for a private placement, to be designed in conformity with all applicable regulations when the time comes, kindly send an e-mail to this effect to me at the e-mail address below. I will acknowledge receipt of each such indication of interest. In your indication of interest, please state what dollar figure you would consider.
If our shareholders include accredited investors with the capability to handle a larger amount on a repayable basis, one of our joint venture partners is prepared to provide collateral in the form of professionally appraised production equipment worth over $2 Million. Such is the quality of our emerging relationships. The positive impact of such an alternative financing upon Winning Brands would be dramatic.
The Winning Brands shareholder group represents a broad base of talent and networking. If you have expertise by which Winning Brands can accelerate our growth, feel free to indicate same.
Ultimately a shareholder group is a community with a common interest – the success of their investment. Today’s internet communication platform permits us to accomplish this together by sharing relevant ideas.. This “testing the waters” note from me is an example of how our shareholder community can benefit from this approach. It also illustrates that the company takes its responsibilities to stakeholders seriously.
ERIC LEHNER, CEO
eric@winningbrands.ca
