1PM Industries Inc (OTCMKTS:OPMZ) is taking a different approach when it comes to positioning itself and developing a strategy in the cannabis industry. According to 1PM Industries, the company aims to help private companies transition into publicly-traded entities. 1PM Industries looks to enter into long-term contractual agreements, even after a company is trading publicly, depending on the experience level of the management team.
The company just had a strong move higher recently, more than tripling in value in just one month. However, the stock was still down over 90% over the past year, but it looks like it could rebound off of the recent developments it’s had.
1PM Industries Inc (OTCMKTS:OPMZ) recently announced it transitioned into a new business model in order to work in the best interest of both the company and the shareholders. According to 1PM Industries Inc CEO Joseph Wades, “For years the management team of 1pm Industries has done one thing in particular very successfully and that’s helping private companies achieve publicly traded status.”
Wades continued, “There is significant revenue generated from the process of taking a company public with multiple revenue streams being generated from each account. Had we remained on our former business trajectory, it would have taken all year or more to generate the revenue that we recently generated from just one client. Instead of continuing our efforts as a private endeavor, we have decided to roll all of our activities related to helping private companies achieve publicly traded status into 1pm Industries, Inc. and that will become our primary focus for the long term.”
Wade added, “I want our shareholders to know that this is an extremely positive move for the company. Collectively, we have over 18 years of experience helping companies to go public. Per our recent 8K, we generated $1.3M on just one client contract. We are reasonably confident in our ability to generate a minimum of $4M in revenue this year and that number could be as high as $6M or greater depending on a few things we currently have in the works. There are eight separate clients that we are working with now and all are at various stages of the process.”
1PM Industries CEO concluded, “I would like to reassure everyone that under no circumstances will we initiate a reverse split for any reason in the foreseeable future. What would be more likely to occur at this point would be a reduction in the authorized shares and that is currently under consideration. Also, as of today, for clarification, we currently have 244,948,828 shares outstanding with 137,246,677 shares in the float. We look forward to providing more information on our current business activities in the next few weeks and as always, we thank you for your support.”
The CEO’s statements exude confidence in the company, and after transitioning into a new business model, the company seems as if it would be able to generate some profit after it became a consulting business. Now, we’ll have to wait for the company’s next Form 10-Q to determine how it’s doing with its transition.
In other company news, 1PM Industries announced it entered into a contract with a new privately held company that aims to become publicly-traded. Consequently, this could help the company generate more revenues, and build momentum and receive business from other companies in the same bobat. With this one contract, 1PM Industries CEO expects to generate at least $800K from this one contract alone.
Wades said, “We are pleased to announce that we have contracted with a company that is involved with the growth and development of Senior Centers in the state of California. In fact, the primary leadership of this company was involved in a similar venture several years ago that went public at over the counter status and eventually reached the New York Stock Exchange.”
OPMZ recently changed its business model, and the CEO showed confidence in the company generating revenue with consulting services. Now, the company also entered into a contract, which could generate over $800K alone. Consequently, this could increase earnings and revenues for the company. With these developments in OPMZ, you might want to stay up to date on this company since it could continue moving higher, even after more than tripling recently. To stay up to date on OPMZ, just enter your email below to sign up to our free newsletter. It’s that simple.