Subsidiaries Report Progress And Announce UPICK Weekends 2nd Edition At CIGN Farm Begins The 12th And 13th Of June. The Sale Of 24 Grow Containers To Can It Holdings De Puerto Rico For A Total Of $1,560,000.00 And More.
The Removal Of Karma Snack As Marketing Company For Failure To Provide Deliverables.
Sale Of Preferred B Shares To Masa Supply, LLC For $400,000.00
Released: June 7, 2021
MIAMI, June 7, 2021
MIAMI, June 7, 2021 /PRNewswire/ — 4Cable TV International, Inc. (OTC: CATV) (the “Company”) CATV: A group oriented to become a global leader in Cannabis based products markets, today announce that they have filed as of May 24, 2021 the First Quarterly Financial Reports for 2021 (https://backend.otcmarkets.com/otcapi/company/financial-report/284777/content) and as of May 26, 2021 the Legal Opinion, Adequate Current Information and Disclosure Filing by 4Cable TV International, Inc., (CATV) (https://backend.otcmarkets.com/otcapi/company/financial-report/285199/content). This allowed the company to return to Pink Current Information status.
The company reported gross sales of $1,822,757 with a net income of $869,564 for the First Quarter.
The company by the foregoing filings has covered all pending disclosures. The company is focused on hiring a PCAOB auditing firm so we can upgrade to fully reporting as we move closer to reaching our goals of full transparency and change of name. At the same time, we will use our best efforts to establish an appealing group of business units that will accomplish the expectation of a fast-growing market. With these filings, this allows the company to move in the right direction towards changing the name of the company. While addressing the administrative issues related to the company, the Company is working hard at creating revenues.
CIGN, LLC REPORTS
HARVESTING PROGRESS, SALE OF GROW CONTAINERS
CIGN, our farming arm of the company has reported that is has harvested close to 20,000 plants and has begun sales of its current crop. Although the weight of the plants is lower than what was expected, the nose and look of the flower is of great quality allowing the company to sell the flower at a higher price. (https://www.instagram.com/CIGNFARM/) While the flower is drying, curing, and getting ready for sale, CIGN launches its Second Edition of the UPICK Hemp Weekend.
2ND EDITION UPICK
CIGN wishes to invite all shareholders and the public to attend on June 12 and 13. (https://upickhempweekends.com/) (https://www.instagram.com/upickhempweekends/) The UPICK allows the company to share with the public the experience and learning of hemp as the future crop of America. At the UPICK, we will have music, drinks, food available from the Hip Bistro Menu, products available for sale, and education on how to grow, trim, dry and speak to professionals that can explain the benefits of the plant.
SALE OF GROW CONTAINERS
CIGN announces the sale of 24 cultivation ready containers amounting to $1,560,000.00 in Gross Sales for CIGN. These containers are being sold to Can It Holdings de Puerto Rico, LLC. Can It Holdings de Puerto Rico, LLC is a Marijuana Qualified Cultivation company and is affiliated with CATV by way of the ownership interest held by Michael Feldenkrais of both companies. Michael Feldenkrais, CATV’s Chief Executive Officer and sole director, is also the Chief Executive Officer and owns a large equity interest in Can It Holdings de Puerto Rico, LLC. Mr. Feldenkrais also owns the majority voting control of the CATV through his ownership of the Company’s Series A preferred stock, which possess super-voting rights. This transaction represents to CIGN a substantial sale at great profit margins. The first 12 containers are set to arrive on June 12, 2021 to be set up as cultivation containers of Medical Marijuana in the island of Puerto Rico.
HEALTHCARE AND WELLNESS CLINICS OF AMERICA, LLC REPORTS
Healthcare and Wellness Clinics of America, our retail arm of the company is happy to report having found several locations in Florida to open several Hip Bistro’s. Although leases have not yet been signed, the legal team is working diligently to prepare final documents and execute same at some promising locations.
OUR BRANDED AND DISTRIBUTION OF OTHER BRANDED PRODUCTS
Online sales of our branded products are increasing daily, and acceptance of the Hip Alkaline Water has surpassed the company’s expectations. (www.hip4all.com) We are currently entering a group of independent supermarkets with the Hip Alkaline Water while we request to be considered for distribution by one of the top Natural Food Distribution companies in the United States. New products are in the pipeline and are set to be released soon. We are also reviewing some private label and white label contracts from clients who wish to purchase using our raw materials and formulas.
After months of working with Karma Snacks, CATV has decided to end the relationship due to lack of performance. We have taken control of our marketing internally and have hired two specialists, one for Digital On-line media and the other for Off-line media while hiring independent contractors for different tasks and we expect to release their work as they are developed, edited, and perfected. Our CEO, having vast experience in marketing, including but not limited to, placing the first US television commercial relating to Cannabis on the air, decided to internally manage the marketing department to reduce production costs, control the message, and spend funds on actual marketing instead of production and bureaucracy. This is a move in the right direction for the company as it will reduce costs and increase productivity.
CATV SELLS 400 SHARES OF NEWLY ISSUED PREFERRED B SHARES FOR $400,000.00
Masa Supply, LLC agreed to purchase 400 newly issued Preferred B Shares for a total of $400,000.00. 200 of the Preferred B Shares have been sold and paid for and the balance of the 200 Preferred B Shares purchase shall be completed by July 27, 2021.
ABOUT 4CABLE TV INTERNATIONAL, INC.
4Cable TV International, Inc. (OTC: CATV) seeks to create and operate a fully integrated global cannabis business, ranging from growing to retailing. To accomplish this strategy, the Company is actively seeking acquisition targets in the cannabis industry.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding 4Cable TV International’s business that are not historical facts are “forward-looking statements.” Examples of forward-looking statements include, among others, statements regarding the Company’s future business and prospects, strategic plans, and strategic transactions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others: general economic and financial conditions; consumer demand for Cannabis products and services; volatility in the trading markets and the lack of liquidity in the Company’s common stock; the Company’s ability to successfully execute on its new Cannabis strategy; the Company’s limited operating history in the Cannabis business; the legal status of the Company’s Cannabis business, both in the U.S. and abroad; risks inherent in the Cannabis business; existing and new U.S. and foreign government regulations and changes in regulatory requirements; risks related to rules and regulations at the U.S. federal, state and municipal levels and applicable foreign jurisdictions with respect to Cannabis; the Company’s ability to obtain financing or raise capital on favorable terms or at all in order to execute its business strategy; the Company’s ability to successfully identify and integrate acquired businesses; risks associated with conducting operations in foreign countries; and risks associated with engaging in transactions with third parties, including related parties. For a discussion of additional general risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see CATV’s OTC Market filings. Any forward-looking statement made by in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise, except as required by law.