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BlueFire Equipment, Corp. (OTC: BLFR) has entered a profit-sharing Joint-Venture with Gulfstream Tomato Packers, Ltd. This collaboration enables BLFR to leverage Gulfstream's extensive resources, including a 55,600 sq. ft. facility and established relationships with major clients. The venture aims for a 50/50 split of net profits, which are expected to surpass Gulfstream's previous annual revenue of $18 million. CEO Nickolas Tabraue expressed confidence in increased revenue and profits, emphasizing the strategic partnership's operational advantages.
BlueFire Equipment, Corp. (OTC: BLFR) is changing its name to Farmies, Inc. and its ticker symbol to MIES following the acquisition of Miracle Life Farm, LLC. This strategic move is aimed at aligning with the booming agriculture market, projected to be worth $12.5 billion in 2022, growing at a 11.1% CAGR. The company plans to enhance operations by partnering with local farmers for profit-sharing ventures and expanding its fruit offerings, including utilizing Thai Guava leaves for tea production. CEO Nickolas S. Tabraue emphasizes this new direction for growth and community support.
BlueFire Equipment, Corp. (BLFR) has acquired Miracle Life Farm, LLC., a family-owned farm in Homestead, FL, specializing in exotic fruit production. The farm operates on 13 acres, producing fruits like Thai Guava and Sugar Apple, which are sold under USDA compliance to major supermarkets such as Presidente and Windixie. The acquisition involves BLFR obtaining 81% of Miracle Life's Preferred Class B shares, allowing the farm to expand its operations and access capital markets. As of June 30, 2022, Miracle Life reported assets of $3.13 million and $307,423 in revenue, with over $980,000 generated by year-end 2021.