Agriforce Growing Systems Ltd Stock Price, News & Analysis

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) announced a strategic shift focusing on near-term cash flow opportunities while reducing operating expenses and capital expenditures. The company has opted not to proceed with its Stronghold and Humboldt-Bliss agreements, which included developing a 34-acre property in Coachella and a project in Barbados. CEO Ingo Mueller emphasized minimizing equity dilution and highlighted an aggressive M&A strategy aimed at achieving positive cash flows. AgriFORCE is advancing its intellectual property, launching new food products like un(THINK) flour, and preparing the commercialization of Radical Clean Solutions for enclosed environments. The company aims to maximize shareholder value through capital-efficient strategies and anticipates updates on ongoing initiatives in the coming months.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) announced the grant of a new patent by the USPTO for its innovative FORCEGH+ facilities, focused on sustainable agriculture. This patent comprises 19 claims concerning unique structural features designed for optimal plant growth, including advanced insulation and light-enhancing panels. CEO Ingo Mueller highlighted this achievement as a crucial step towards establishing industry standards for high-quality crop yields. The FORCEGH+ model aims to promote sustainable farming practices, eliminating the need for harmful chemicals while maximizing crop potential.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) announced a binding letter of intent to acquire Berry People LLC for $28 million, comprising $18.2 million in cash and $9.8 million in AgriFORCE restricted shares. This acquisition allows AgriFORCE to leverage Berry People's established distribution network, which includes over 200 clients across North America and beyond. In 2022, Berry People generated unaudited net revenues of $37 million. The acquisition aims to realize synergies with UN(THINK) and capitalize on growth opportunities in the berry market, projected to grow at 10% annually. Berry People could also earn additional payouts based on future performance.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) recently announced an investigation into potential illegal trading activities affecting its common stock, including naked short selling. The investigation, initiated on November 15, 2022, involves Shareholder Intelligence Services, LLC to provide analytics that enhance corporate governance and monitor trading compliance. Preliminary analyses suggest that the company may have been subject to market manipulation. AgriFORCE is exploring various options and remedies in response to these findings as part of its commitment to maintaining transparent and compliant trading practices.