Anaheim, CA, Jan. 10, 2018 (GLOBE NEWSWIRE) -- LiveWire Ergogenics, Inc. (OTC: LVVV), a company focused on research partnerships, product development and acquisition and management of turn-key production facilities for cannabis-based products and services, today issues a shareholder update and provides an overview of the cannabis-friendly climate in the state of California that offers vast opportunities for companies such as LiveWire.
“This past year was a transitional year for LiveWire, with the company executing several crucial segments of our business plan in preparation for the enormous market opportunity arising in our home state of California,” said Bill Hodson CEO of LiveWire Ergogenics, Inc. “We are confident that even the newly created conflict between Federal and State law will not prevent the growth of the recreational use marijuana market segment in California and not reverse protecting medical marijuana patients statewide. The people have spoken - 29 states currently have laws broadly legalizing marijuana in some form and seven states and the District of Columbia have adopted the most expansive laws legalizing marijuana for recreational use. We are in a good position to take advantage of this positive support climate, allowing us to build a successful company in an industry with enormous potential” concluded Hodson.
2018 – A Milestone Year
This year, in contrast, is expected to be a milestone year for LiveWire. While we believe that there is unprecedented growth ahead for the cannabis industry in California, we are also convinced that only well-structured and professionally managed companies will survive the onslaught of competition. Unprofessional operators will be weeded out and only companies with a solid legal and financial foundation will flourish. LiveWire is in the center of this emerging market in California and has spent this past year intensely surveying and researching the landscape, legally and operationally.
Accordingly, utilizing its team’s longstanding experience in the cannabis and financial industries, the Company has dynamically adjusted its business plan to the current reality and its expectations for a changing landscape, generating an educated forecast for 2018.
Based on the current outlook and subject to reaching the milestones below in a timely manner, LiveWire expects to be cashflow positive during 2018:
- Acquire and/or enter into joint ventures with licensed nurseries, cultivators, delivery services and dispensaries.
- Continue debt reduction with the goal of being debt-free in 2018.
- Secure additional cultivation agreements with non-profit mutual benefit corporations.
- Contract with licensed cultivators and set up on-site operations under exclusive agreements.
- Reach full engagement in the value-chain from seed to sale.
- Enter agreements with select medical experts and universities to embark on strain specific research for certain medical ailments with a large sufferer population.
- Establish and obtain intellectual property protection for the 7X Pure Dosage & Verification system to be licensed to the industry.
- Acquire a state license.
- Acquire permits for local cultivation facilities in different California municipalities.
- Establish and market the model for LiveWire campuses populated with
turn-key growing facilities for licensed clients. - Finalize LOI’s with additional cultivators.
- Expand legal and financial consultants to expedite implementation of business plan.
- Solidify share structure to create increasing shareholder value.
OTC Compliance – Generate Shareholder Value
To provide increased transparency of its business transactions to its shareholders, the Company has brought its OTC filing status into full compliance and is currently preparing its 2017 year-end filings for timely submission and publication. LiveWire has been successful in solidifying its debt structure during 2017, while maintaining a reasonable number of outstanding shares. LiveWire has agreed to terms to sell a block of its common stock holdings in the Apple Rush Company back to Apple Rush and subsequently reduce its holdings to under 5% and maintain a non-affiliate status in Apple Rush. LiveWire expects that it may have to raise additional working capital to support its rapid expansion plans, but is focused on non-toxic structures for any future financial vehicles with minimum dilution for existing shareholders.
LVVV share price has increased from a 52-week low of $0.0009 to a 52-week high of $0.02 by a factor of 22 times and a 30-day average volume of 11.4 Million shares per day. The Company expects to be cash flow positive by the end of the second quarter of 2018
Designing and Building Fully Compliant Turn-key Facilities
To take full advantage of the enormous opportunity in California, the Company has assembled an exceptional team of industry experts and advisors during 2017. Based on the expertise of this team, the Company has completed the build-out of its first pilot project, dubbed “The Farm”. This facility will serve as a model for additional LiveWire turn-key locations in California and eventually throughout the country. These facilities will be made available for lease to qualified and licensed cannabis producers. Additional locations, including a 20-acre property with an existing cultivation structure and possible entertainment destination, are currently being researched and the Company will soon be naming a Master-Grower to oversee all properties.
LifeWire Focus and Activism
Looking back at a turbulent 2017 for the industry, LiveWire’s management is now focused on executing crucial segments of its business plan that are fully compliant with Federal and State laws, municipal ordinances and other applicable rules and regulations. Seeing a clear need for industry leaders’ involvement, LiveWire is actively involved in accelerating the clarification of the existing and proposed laws in the still evolving legal landscape for the industry on a Federal, State and most importantly local level. “Through my personal involvement as the CEO of LiveWire and the Company’s sponsorship, we will continue to assist in forming the basis for a clear legal structure that will allow cannabis companies to establish fully compliant operations, thus helping to eliminate the pitfalls of the underground market, for the benefit of our customers and investors,” said Hodson.
IENORML
In just a few short weeks of increased involvement, the Company has felt the positive impact of activism by way of introductions to city mayors, county officials, and industry professionals. We encourage all shareholders to contact and support their local chapter of NORML and get engaged in their efforts to protect and promote this multi-billion dollar industry.
Seeking Cannabis Friendly Municipalities
Specific rules and regulations are left to the local municipalities and regulations differ widely throughout the state, having created a confusing legal environment. LiveWire’s team of cultivators, legal and financial experts has thoroughly researched these conditions state wide and is in the process of identifying and applying for multiple state licenses in several municipalities in California, once this process commences. The combined expertise of this team will also be made available to guide potential clients through the complicated application process.
Public and Legislative Support
Recognizing the benefits of cannabis in its different form and applications for certain medical ailments and moderate recreational use, broad legalization is now widely supported by over sixty four percent (64%) of the U.S. population, according to the latest Gallup poll and an increasing number of democratic and republican legislators.
Conflicting Laws
We are confident that despite the recently erupted conflict between Federal and State law, championed mainly, if not exclusively by the AG of the United States, Jeff Sessions, further legalization of medical and adult-use, or recreational, marijuana in California and eventually nationwide is inevitable. The majority of states have adopted laws legalizing some form of marijuana use. In contrast, many cities in California are still in the process of finalizing their local ordinances with clear rules and regulations to provide a platform for legal operations.
Get Connected - Impact the Legal Landscape
Having a voice in the effort to form an appropriate legal landscape for adult-use and medical marijuana in California is of the utmost importance and we invite our fellow industry professionals to join us in our efforts. To advance this effort, LiveWire recently met with Congressman Dana Rohrabacher to explore all potential activities to that regard. LiveWire has become actively involved in supporting Rep. Rohrabacher who co-authored the “Rohrabacher-Blumenauer” provision, which has been in place since 2014. This provision bars the Department of Justice from using appropriated funds to prosecute individuals who are in compliance with their state’s medical marijuana laws.
For non-material updates be sure to follow us on Twitter @livewireLVVV
About LiveWire Ergogenics, Inc.
LiveWire Ergogenics, Inc. (LVVV) is focused on identifying and monetizing current and future trends in the health and wellness industry. The Company is focused on establishing research partnerships to explore the application of cannabinoid-based products to target specific ailments or conditions with a large “sufferer” population for human and veterinarian applications. This includes the cloning of cannabis strains to produce positive medicinal results, dosing verification of zero pesticide products for quality brands and development and licensing of high-quality cannabinoid-based products and services. The team at LiveWire Ergogenics has a passion for research and is committed to generate and implement innovative ideas and produce high-quality products that satisfy an increasing demand in this fast-growing industry.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for future operations, the development, regulatory approvals and commercialization of the Company’s products, or any of the Company’s other proposed products, systems or services.
Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and actual events may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, the Company’s inability to obtain additional financing, delays in the development of its products, the impact of significant government regulation in the cannabis industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.