Saturday, June 25, 2022

Easton Pharmaceuticals Inc (OTCMKTS:EAPH) Stock Gets a Bump with iBliss News

Easton Pharmaceuticals Inc (OTCMKTS:EAPH) is a up and coming micro cap stock in the cannabis sector. All cannabis sector stocks exploded after the US Election, and Easton Pharmaceuticals, Inc. (OTCMKTS:EAPH) ran right along with the group rallying from the triple zero sub-penny status to more than a nickel.  This in itself is deceiving to investors who only realize the size of these type of moves when it hits the brokerage account.

Some of the recent news showed that the company finalized terms of the Acquisition Agreement to acquire iBliss Inc., of Toronto, Ontario, whereas legal counsel will be quickly concluding the closing of the transaction.

After various delays and much negotiation, Easton Pharmaceuticals Inc (OTCMKTS:EAPH) announced that both Easton and iBliss have agreed to and finalized all terms of the Acquisition Agreement whereas Easton will acquire 100% of iBliss Inc. and its holding company from its subscribers in exchange for common restricted shares in Easton Pharmaceuticals. The subscribers of iBliss will conditionally receive restricted shares of Easton stock in exchange for 100% of the shares of iBliss Inc. based on sales milestones. The shares have been placed in escrow until other documents are executed and delivered, considered a formality. iBliss at its peak two years ago, maintained healthy sales of $15,000,000.

In addition to its e-liquids and vaporizer business, principles of iBliss will lend much know how and expertise of the medical marijuana industry which has led to a determination that Easton / iBliss fully intend on applying for a medical marijuana LP license for the country of Canada. iBliss and Easton believe its LP License application for Canada will get quickly approved by Health Canada due to successful businesses and sales and the availability of financial capital. Canada’s federal liberal government is expected to announce the full legalization of recreational marijuana use for all of Canada, sometime in the next few weeks.

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$EAPH 10 Day Chart Below.
Complete details of the closing terms and additional business development updates on iBliss’s vaporizer, e-liquids and medical marijuana businesses are expected to be disclosed very shortly followed by regular updates.

Hung Tran, President of iBliss commented, “iBliss and its principles are pleased to have reached a final Acquisition Agreement with Easton Pharmaceuticals. We are excited to partner up and work with Easton’s management to continue growing our Vaporizer business and our consumer health products, paving the way for enhanced value and growth for all Easton shareholders.” Mr. Tran further stated, “iBliss has had tremendous growth over the past 3 years of being in business, which includes sales throughout North America and recently adding several international markets in Europe, the Middle East and Russia which has it on track to once again reach $15,000,000 in sales with profits margins in excess of 40%. iBliss possesses in house manufacturing of its own line of e-liquids products in a certified and regulated laboratory.”

Easton Pharmaceuticals, Inc. (OTCMKTS:EAPH) had a run up into January, and pulled back as we headed out of the first quarter of 2017.  Volume and liquidity have never been an issue for this stock, my word of caution is that the entire sector has been mispriced through every cycle and I have zero clue if shares here are fairly priced, under priced or overvalued.  The market knows, but I do not, the stock can easily retrace back down to a penny where it was during the election and not one trader would be surprised.

It is better to monitor these on a daily basis until some of the shares the company issued come to market and are liquidated, I think this is what happened after January, small companies like these have no choice but to use company shares as currency which dilutes the common shareholder.

This over supply is (hopefully) absorbed by new market entrants and normal market making functions, but the reason the public stays away from triple zero penny stocks is because they are easily manipulated. No trader or investor I know likes the feeling of not knowing the rules of the game. For continuing coverage on shares of $EAPH stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

 

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