Alka Badshah – CEO, Renewal Fuels Inc. (RNWF)
1. When is Sacred Biosciences going to release the nootropic product?
The nootropic product that uses all-natural and ancient ingredients has been getting some amazing testimonials when tested by friends and family. We expect to release this in the coming month, due to some delays with IP patent work. We can’t wait to share the testimonials and details with our shareholders but need the legal work to be completed before we can do that.
2. What can we expect regarding business performance for 2021 and 2022?
After evaluation of the business plans for the remainder of 2021, we expect ramping up of revenues in the majority of our businesses in Q4, we also expect that the product launch from Sacred Biosciences will help with the revenue numbers in Q4 of 2021.
Sunshine Hemp is currently working with government and private partners to set up a state-of-the-art “cottonizing” hemp fiber technology processing facility in North Florida which will have a positive economic and financial impact on both Florida’s economy and Sunshine Hemp’s business growth. As one of the state’s authorized hemp genetics research and commercialization partners, the decision to invest heavily in organic hemp cultivation and innovative hemp fiber technology will help create new markets for these products. This “Hemp Fiber Innovation Project” will help provide a much-needed alternative agricultural industry for the devastated timber industry in this region.
The remainder of the year will be spent in setting up the infrastructure for this hemp innovation project using state-of-the-art hemp fiber “cottonizing” processing equipment commercially tested in Europe. Sunshine Hemp will be the first in the US to utilize this processing technology. We’ll start seeing the financial impact in early 2022 and incredible growth thereafter. With the US CBD market getting saturated, this focus on high-quality hemp fiber production will open and address whole new industries, and unmet demand i.e., US-made hemp textiles. Additionally, by-products like hempcrete blocks, animal bedding, hemp seed oil for cosmetics, protein powder, infant formula, etc. are going to produce added revenue for Sunshine Hemp.
This plan also incorporates some other non-financial but ESG objectives like agricultural sustainability, carbon sequestration, organic production practices while providing economic partnership opportunities for farmers throughout the region, Sunshine Hemp has developed supply chain demand for US-grown organic hemp fiber and products. The Regional Hemp Innovation Project will be partially supported by investments from Federal and State grants. The resulting revenue numbers for 2022 and beyond will help RNWF growth acceleration and expansion. The projected revenue numbers are very promising. The plan is currently in NDA status, I can’t wait to share it as soon as we are able to.
3. What is happening with the acquisitions?
We announced the completed asset acquisitions on August 4. The attached chart shows the companies and information about what they do. Our leadership team and lawyers have been busy finishing all the legal work required to incorporate the asset purchases from these companies, so they are structured to work as the subsidiaries or divisions of RNWF as appropriate.
The leadership of each of these companies is working on a deep dive to understand the businesses, challenges, growth opportunities, and overlaps to streamline and make them work together efficiently.
4. What is happening to grow the business?
In addition to streamlining the business processes, I have been meeting with new investors, talking with other companies for possible JV, looking at marketing channels for our new products, and generating potential new business for RNWF & its subsidiaries.
5. What is happening with GRNF to RNWF share swap?
The share swap survey ended on August 31, but we accepted surveys through the second week of September, as people were getting things in order. We got swap requests for about 10M free trading and 10M restricted shares to be converted from GRNF to RNWF. We are working with the Securities Attorney and CPA to ensure that everything is done within the legal bounds and putting together a process that we expect will go smoothly. We will send emails to people who applied, to get any additional information and actions to complete the process.
6. Why did it take so long to clean up the profile in OTC?
With OTC inundated to make their Sept 28th deadline, and some additional forms and processes, it took time to get our OTC listing in sync with the changes, but we are finally listed correctly.
7. What corporate actions can we expect?
Once all the businesses are streamlined, we will be taking some corporate actions, like name & ticker change. Getting out of shell status is at the discretion of OTC, although we now have active businesses and revenue, we need to wait for them to remove the shell designation. We have indicated the removal of that designation in our filings. As we become eligible, we plan to move up the exchange.