Business
True Nature Updates On Strategy, Acquisitions and Blockchain / Cryptocurrency Potential
True Nature Updates On Strategy, Acquisitions and Blockchain / Cryptocurrency Potential.
About this update from Mitesco, Inc.
[{"type":"text","content":"ATLANTA, GA / ACCESSWIRE / December 21, 2017 / True Nature Holdings, Inc. (OTCQB: TNTY) (the \"Company\") today releases this update to its shareholders on its strategy, including potential acquisitions, financing prospects, and its position regarding plans to participate in the Cryptocurrency and Blockchain space.Dr. Jordan Balencic, Chairman, and interim CEO provided the following updates, saying, \"First, in alignment with our current business model, we have three (3) near-term acquisition prospects at this time. The smallest is an asset acquisition involving the operating assets of a compounding pharmacy operation near West Palm Beach, Florida. Management sees this as a low-cost entry point into the veterinary and equine part of the compounding industry. Due diligence is proceeding and would be subject to both financing, and the issuance of a license for the operation of the pharmacy in this specific site.\"\"Secondly, we have had some discussions with a group of investors who hold interests in a set of clinics, diagnostic facilities, and pharmacies, generally in Florida, mostly in the Dade and Broward county markets.\" Management states that the investors who hold the interests believe that the pro-forma financials for the combined operations would exceed $29 million in FY2017. The group would be \"assembled\" through a series of transactions, each involving both license transfer, and insurance and other regulatory approvals. The consideration would be a combination of stock and cash and would involve the use of debt for operating capital, and in an \"earn-out\" like fashion. The accountants and legal counsel for the existing operations are currently generating the documents needed to fully evaluate this group and its potential integration into the Company.Dr. Balencic continued, \"We have continued conversations with other pharmacy operators with whom we have had long-term relationships, and subject to terms and financing, could move on those in early 2018 as well as the others previously mentioned.\" When asked about financing prospects, he replied, \"We have a preliminary document from a potential financing partner, and in general it would be a purchase of straight equity, likely common stock, likely for 20% or more of the equity of the Company, at a premium to the trading price today, and could close quickly, assuming w...