Agriforce 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.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) announced significant nutritional advantages for its UN(THINK) Awakened Flour. Tests by Eurofins show the flour has over 5x the fiber, nearly 2x the protein, and 23% fewer net carbs than regular all-purpose flour. The product uses a patented process to enhance nutritional benefits from 100% sprouted wheat without additives. AgriFORCE has partnered with Maker’s Malt and Marquis Milling in Saskatchewan to ensure sustainable sourcing and production. The flour is currently available for B2B sales and will soon expand to direct-to-consumer markets.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) announced a collaboration with the Government of Barbados to conduct a feasibility and technical study for controlled environment agriculture (CEA) facilities. This initiative aims to supply nutritious fruits and vegetables to local institutions and for export across the Caribbean. The study is expected to conclude within 120 days, after which a definitive agreement for facility construction and production will be pursued. Ceo Ingo Mueller emphasized the project's potential to enhance food security and address nutrition challenges in Barbados, a country that heavily relies on food imports.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) has been awarded a patent from the USPTO for its innovative method of modifying grains and seeds into nutritious low-starch, high-protein flour products and various food items. This advancement aims to enhance dietary options by creating fiber-rich alternatives without sacrificing taste or quality. CEO Ingo Mueller emphasized the patent's significance in launching the UN(THINK)™ foods brand, targeting the $200 billion U.S. flour market. The company is poised for growth and expansion in the sustainable food sector with its unique IP.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) showcased a solid foundation in 2022 and anticipates substantial growth in 2023. Key achievements included the acquisition of Manna Nutritional Group for commercialization of UN(THINK) Foods, and shareholder approval for Delphy Groep BV acquisition, enhancing AgTech offerings globally. With focus on sustainability and innovative technologies, AgriFORCE plans to launch new products in 2023, including Awakened Flour and Power Flour. The company's growth strategy centers on expanding its AgTech platform and M&A activities.