ProfitScout
18 hours ago
We expect accelerating sales will reaffirm the improving overall trajectory of the business. Further, our margin expansion initiatives continue to deliver results with improvement from third quarter, and we continue our overall cost containment initiatives to further reduce SG&A expenses and to maximize operating leverage.
Fine tuning our Search Engine Optimization (SEO), bringing our media buying in house and achieving successful monthly campaigns like theSkimm continue to deliver for us as we execute on our strategy to build our brands," said Nancy Duitch, Avenir CEO.
Friday, 17 May 2024
Source:
https://www.accesswire.com/864776/avenir-wellness-solutions-reports-fourth-quarter-2023-results
ProfitScout
6 days ago
"Avenir Wellness Solutions has never been in a better position to capitalize on the high intrinsic value of our unique and proprietary skin care formulations. With 15 patents under our control, the highly positive reviews Seratopical DNA Complex is receiving, and more new products in development, 2024 is set up to be a growth year for the Company. We look forward to keeping our shareholders informed of our progress, developments and milestones as we move forward.
Sincerely,
Nancy Duitch, CEO"
Source:
https://finance.yahoo.com/news/avenir-wellness-solutions-issues-2024-140000098.html
PURA VIDA
1 week ago
STUCK BETWEEN A ROCK AND A HARD SPOT
Yes, Hefty interest rates, hefty 30% automatic pps shave etc. etc. etc.
That is why I spoke of HEFTY and DESPERATION. IONIC's terms were similar.
Not sure why this company is even doing this really. Maybe they believe Avenir is
behind the 8-ball and they will HAVE to pay through the nose - no matter what.
Not sure how 1800 would even be able to sell into the market - there's really no volume
but I suppose they will create PANIC and the price will drop below ONE CENT Quickly.
Hell, depending on conversion price - they could take the outstanding to the full 150,000,000
shares allotted in order to recoup their money. If there is default and conversion, the price will
drop quite quickly. It might start to drop quickly just due to the fact of so much more debt.
These are definitely LOAN SHARK rates - or even very poor credit - CREDIT CARD
rates. Definitely much more debt to tack on to the deficit - that is, if they survive.
BANKRUPTCY LOOMS.
Student of the Game
1 week ago
If repayment is defaulted, then note converts to shares as stated below....
4.2 Conversion Price. The Conversion Price shall equal the Variable Conversion Price (subject to equitable adjustments for stock splits, stock dividends, or rights offerings by the Borrower relating to the Borrower’s securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions, and similar events). “Variable Conversion Price” means seventy percent (70%) multiplied by the Market Price (as defined herein) (representing a discount rate of thirty percent (30%)). “Market Price” means the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the or applicable exchange or trading market (the “Trading Market”) as reported by a reliable reporting service designated by the Holder (i.e., Bloomberg) or, if the Trading Market is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets.” If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the Trading Market, or on the principal securities exchange or other securities market on which the Common Stock is then being traded.
PURA VIDA
2 weeks ago
INTERESTING - JUST FOUND THIS - MORE DEBT
But, maybe they can pull a rabbit out of the hat.
https://fintel.io/doc/sec-avenir-wellness-solutions-inc-1643301-8k-2024-july-05-19909-5634
Wow though - the terms look quite a bit like the IONIC agreement with the notes being convertible
and not much wiggle room - smells of desperation. Who knows.... but the line of credit on ND's
cards must have run out.
Note A shall be payable in four installments and Note B shall be payable in ten installments as set forth specifically within each Note. Pursuant to the Notes, after the occurrence of an Event of Default, the outstanding and unpaid portion of each Note is convertible into the Company’s Class A common stock, par value $0.001 par value per share (“Common Stock”) at a conversion price (“Conversion Price”) calculated by multiplying 70% of the lowest Trading Price for the Common Stock during the ten-day Trading Period ending on the latest complete trading day prior to the Conversion Date. The Conversion Price is subject to equitable adjustments for stock splits, stock dividends, or rights offerings by the Company relating to the Company’s securities or the securities of any subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions, and similar events. The number of shares of Common Stock to be issued upon each conversion of the Note is determined by dividing the outstanding amount owed on the Note by the Conversion Price.
Each Note shall have a one-time interest charge of 15% on Note A and 14% on Note B applied on the issuance date to the respective principal amount of each Note. Any amount of principal or interest on each Note which is not paid when due shall bear an interest rate of 22% per annum from the due date thereof until such principal or interest is paid. The Company has the right to repay each Note in full at any time with no prepayment penalty.
Who is the loan shark this time ???? https://www.1800diagonal.com/
Questions - concerned stock holder ?? Company phone number: (424) 273-8675
PURA VIDA
2 weeks ago
Yes, Nancy Duitch may have some decent credentials for running "private" startups
and "marketing" new products - but - has she ever run a publicly traded company before ?
The answer there is "NO".
And, Nancy has always started with a clean slate. Has she ever been burdened with a
10.5 Million DOLLAR annual deficit ? Has she ever been burdened by (by my estimations) an over 18 Million Dollar defaulted loan (including interest and penalties)? Has she ever had to operate with a mushroom cloud of 78 Million outstanding share count and the inability to even use a publicly traded company to raise funds (due to defaulted debt and not able to issue more shares due to the defaulted debt) ?
I personally believe all of the WEIGHT she has inherited due to her partnership with Rob Davidson's Cure Pharmaceuticals, subsequent loan default, TF Tech Ventures attempted bail out by buying back rights to the Oxnard manufacturing facilities and staff along with key patents - and the fact that her buddy Rob Davidson didn't pay all the monies owed - has indeed - put Nancy into quite the bind.
When a publicly traded company has to operate off of a "LOAN" from the CEO's own personal credit cards "which may be exhausted at this moment in time" (8k info listed below) it is truly hard to be "bullish" in the matter of Nancy's ability to drag this company out of the money pit they are in. Truly an uphill battle which to me points to BANKRUPTCY without a MIRACLE on a WHITE HORSE coming to the rescue.
Time will tell.
8K Filing
Item 1.01. Entry into a Material Definitive Agreement.
On January 4, 2024, Avenir Wellness Solutions, Inc. (the “Company”) and Nancy Duitch, the Chief Executive Officer of the Company (the “Executive”), entered into that certain Senior Secured Promissory Note and Security Agreement (the “Agreement”).
The Agreement provides for a secured loan facility of up to $250,000, of which the Company borrowed an initial amount of $39,000 (the “Initial Principal Amount”) on January 4, 2024. The Agreement provides for the ability of the Company to request additional loan amounts up to $211,000 (the “Future Advances”), inclusive of the outstanding balances of certain credit cards (the “Cards”) used exclusively by the Company of which are issued in the name of the Executive. The portion of the principal amount of the Agreement (the “Principal Amount”) comprised of the Initial Principal Amount and the Future Advances (and excluding the outstanding balances on the Cards), accrues interest at an annual rate of 12%, or 18% in the event of default. The Principal Amount plus all accrued and unpaid interest is due and payable in full on the sooner of: (i) the demand of the Holder; and (ii) March 31, 2024. The Company may prepay the Principal Amount, in whole or in part, without the prior written consent of the Executive and without penalty. The Company granted the Executive a security interest in all of the Company’s present and future personal property.
In the event of default, the Executive may, upon written notice to the Company, declare the Principal Amount, including any accrued interest, immediately due and payable in cash and in full. The following constitutes events of default: (i) the Company fails to pay when due any principal or interest payment on the due date, and such payment has not been made within ten (10) days of the Company’s receipt of the Executive’s written notice to the Company of such failure to pay; (ii) the Company materially breaches any other covenant contained in the Agreement and such failure continues for fifteen (15) days after the Company receives written notice of such material breach from the Executive; (iii) the Company voluntarily files for bankruptcy protection or makes a general assignment for the benefit of creditors; or (iv) the Company is the subject of an involuntary bankruptcy petition and such petition is not dismissed within sixty (60) days.
The Agreement contains customary representations and warranties and customary affirmative covenants applicable to the Company. The foregoing description of the Agreement is not intended to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
ProfitScout
2 weeks ago
Yes, this new interview with AVRW CEO Nancy Duitch clearly illustrates her strengths and experience in developing an emerging business. With Nancy's leadership and the proven value in the Avenir Wellness product line, AVRW should have prosperous future ahead.
------------------------------------------------------------------------------------------------------------
Nancy Duitch serves as the CEO of Avenir Wellness Solutions. With over three decades of experience in the consumer products sector, Nancy has cultivated a diverse array of businesses, guiding them from inception to the public market. Her expertise extends to orchestrating cutting-edge marketing and branding initiatives, resulting in a staggering $3 billion in revenue for esteemed brands. From her early years, Nancy exhibited a clear vision and pursued it with determination.
ProfitScout
2 weeks ago
Interview with Nancy Duitch, CEO, Avenir Wellness Solutions, Inc. (OTC: AVRW)
May 3, 2024
Nancy Duitch serves as the CEO of Avenir Wellness Solutions. With over three decades of experience in the consumer products sector, Nancy has cultivated a diverse array of businesses, guiding them from inception to the public market. Her expertise extends to orchestrating cutting-edge marketing and branding initiatives, resulting in a staggering $3 billion in revenue for esteemed brands. From her early years, Nancy exhibited a clear vision and pursued it with determination. Her knack for crafting iconic brands for infomercials and direct-to-consumer channels has solidified her position as one of the most sought-after female CEOs in the industry. Join us as we delve into Nancy's journey, experiencing her infectious energy and enthusiasm as a lifelong entrepreneur who truly lives life to the fullest.
PURA VIDA
2 weeks ago
Exactly - something is ROTTEN / SHADY HERE
Taken from the latest 10K
Salaries and Wages
Salaries and wages expense increased by $494 thousand during the year ended December 31, 2023 as compared to the year ended December 31, 2022. The increase was primarily due to the increase in the number of employees during the year ended December 31, 2023 compared to the same period in 2022.
Selling, General and Administrative
Selling, general and administrative (“SG&A”) expenses decreased by $815 thousand for the year ended December 31, 2023, as compared to the year ended December 31, 2022. The main factors for the decrease in SG&A expenses for the year ended December 31, 2023 are (i) $96 thousand less insurance expense due to less office space and less employees (ii) less consulting expenses ($196 thousand), and (iii) decrease in various other expenses due to reduction in company size as a result of the Asset Sale.
When an OBJECTIVE investor reads through the 10K's and Q's closely, they can find a LOT of very stinky ingredients.
I still am calling BANKRUPTCY without a MIRACLE.
PURA VIDA
2 weeks ago
Okay, is there anyone out there (besides Student of the Game) who can tell me how long it
will take AVRW to shake off the 10.5MM operating deficit (with continued quarterly losses),
no operating or advertising capital, no way to raise funds (defaulted debt and litigation), an
already ballooned outstanding share count of nearly 78MM and no way to raise more money
through the issuance of shares, and an EPS of (-.06/per share) ?????? Losing money hand over
fist - yet there are people here saying the company is undervalued - holy sheep shit batman.
The only buyers here are those who are already deep in the red hoping for a miracle, and the
occasional gambler here or there who hasn't done their homework and are looking for a quick
flip. This baby is most likely doomed.
It's nearly impossible - that is why I still say BANKRUPTCY LOOMS !!
https://fintel.io/s/us/avrw
https://www.barrons.com/market-data/stocks/avrw
PURA VIDA
2 weeks ago
Yes, the measly 105,471 shares traded this WEEK at prices between
.033 and .0519 and a VWAP of .041 indicates a whopping $4,324.31
worth of shares trading hands for the "WEEK". In all relevance, hardly
enough shares to boast about accumulation taking place here on a
penny stock that is virtually unknown.
Why are they unknown? Because they had to change their name 2 times
to try and hide from their past. Cure Pharmaceutical, then SeraLabs, and
Avenir Wellness. When you have litigation against you for defaulted loan
payments - you do anything you can to try and hide it under the rug.
Now, operating off of the CEO's credit card just to make payroll and pay some
of the current bills - well, that doesn't cut it to get the name out about your failing
company. (which at this time is running a $10.5MM deficit - not including the IONIC debt)
Nancy won't mind BANKRUPTCY too much - as she will be the one owed the most
money - and she will probably get receivership as the company will be owing her all
the money AT INTEREST on her credit card. Once the Bankruptcy wipes the other
debts clean - she will be back to having a PRIVATE company again as she had before.
I feel fairly certain that is what they are working on right now.
Nancy Duitch said openly in an interview that she wasn't concerned about share price....
She has no idea how to run a publicly traded company - and by going bankrupt, she will
shed all of the debt (Including the IONIC litigation) which is by now well over 18MM with
interest charges.... and she can go back to doing her website marketing. The shareholder's
will get screwed as usual with MOST PENNY STOCKS..... but Nancy and the company will
survive.
BANKRUPTCY OR MIRACLE ?? - I feel BANKRUPTCY is inevitable.
jedijazz
4 weeks ago
$AVRW DESCRIPTION: Avenir Wellness Solutions Inc. is a broad platform technology company which develops proprietary wellness, nutraceutical and topical delivery systems. The technology, which is based on current patents, offers a number of unique immediate- and controlled-release delivery vehicles designed. Avenir Wellness Solutions Inc., formerly known as CURE Pharmaceutical Holding Corp., is based in SHERMAN OAKS, CA. www.avenirwellness.com
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3 weeks ago
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