Eco Innovation Group Inc Stock Price, News & Analysis

On January 19, 2022, Eco Innovation Group, Inc. (OTC: ECOX) announced the launch of its new subsidiary, ECOX Spruce Construction, aimed at sustainability-focused construction projects. CEO Julia Otey-Raudes highlighted increasing demand for ecologically-oriented construction and renovation, with a General Contractor's License application submitted in California. ECOX Spruce Construction follows the 2021 establishment of a Canadian subsidiary, Spruce Engineering and Construction. The firm aims to capitalize on the growing green technology sector and anticipates future announcements regarding new projects.

Eco Innovation Group (OTC: ECOX) announced a Letter of Intent to acquire proprietary cooling and alcohol dispensing technology from inventor Keith E. Prime. This acquisition aims to enhance ECOX's eco-friendly energy solutions pipeline. Prime's technology, operational for decades, could significantly lower energy consumption in refrigeration systems. The deal involves establishing a new subsidiary to manage the acquisition, which will include equity stakes and profit-sharing. Management anticipates this move will drive substantial shareholder value, aligning with global climate investment trends.

Eco Innovation Group, Inc. (ECOX) has signed binding Definitive Agreements to form a Canadian construction enterprise and acquire assets from Spruce Construction, Inc. This all-stock transaction allows ECOX to use Spruce's assets for its PoolCooled™ Climate Control technology in Canada. ECOX owns 85% of the new Spruce Engineering & Construction, Inc., which will help generate revenue in the construction sector. The company will issue one million shares of restricted common stock to acquire Spruce's assets, assuming CA$60,000 in debt.

Eco Innovation Group (OTC: ECOX) announces that CEO Julia Otey-Raudes will present at the Benzinga Cannabis Capital Conference from October 13-16, 2021, in New York City. Otey-Raudes will discuss the Company’s innovative glycerin-based non-CO2 supercritical extraction technology (GET System), designed for cannabis extraction. Demitri Hopkins, the inventor of the GET System, highlighted its ability to create usable glycerin concentrates, enhancing product development. The intellectual property for this technology is exclusively licensed to Eco Innovation Group, with prototype fabrication underway.

Eco Innovation Group, Inc. (ECOX) has successfully retired all remaining outstanding variable rate convertible debt from its balance sheet, following similar actions earlier in the summer to eliminate potential shareholder dilution. CEO Julia Otey-Raudes emphasized the company’s commitment to shareholder-friendly financing strategies and the upcoming commercial product launches in the green technology sector. The company aims to utilize non-dilutive financing and avoid toxic elements in future strategies.

Marijuana Company of America (MCOA) reported second-quarter financial results for 2021, showcasing total revenues of $16,880, down from $82,958 in 2020. This significant decrease of $66,078 is attributed to new eCommerce sales and reduced market demand due to the COVID-19 pandemic. The company also experienced a net loss of $1,828,117, a 10,830% increase from the previous year's loss. Despite these challenges, MCOA anticipates growth from its recent acquisition of cDistro and partnerships with Cannabis Global Inc. (CBGL) and Eco Innovation Group (ECOX) to enhance THC product manufacturing.

Eco Innovation Group (OTC: ECOX) has signed a term sheet to establish a Canadian construction company, acquiring assets from Spruce Construction. Under this agreement, ECOX will hold 85% of the new venture, Spruce Engineering and Construction, Inc. The acquisition includes vehicles and construction equipment and aims to boost revenue from deploying sustainable energy technologies in Canada. The transaction involves the issuance of one million shares in exchange for assets and will assume approximately CAN$60,000 in debt. The closing is anticipated by August 15, 2021.

Eco Innovation Group, Inc. (OTC: ECOX) has gained significant recognition through coverage in Chemical Engineering magazine for its innovative glycerin-based supercritical extraction technology. This technology sets itself apart in the market by effectively extracting natural bioactive compounds from plants, notably Cannabis sativa. The exclusive intellectual property for this technology is licensed to ECOX, with prototype development currently in progress at Fluitron Inc. Julia Otey-Raudes, CEO, expressed enthusiasm for the media attention and the contributions of advisory board member Demitri Hopkins.

Eco Innovation Group, Inc. (OTC:ECOX) has successfully eliminated two convertible promissory notes, mitigating potential dilution of 11,934,782 shares that could have occurred due to a previous debt conversion valued at $131,077. By preemptively paying off these notes, ECOX has taken steps to enhance shareholder value and reduce financial uncertainty. Approximately $70,000 in variable-rate convertible debt remains on its books. The company's leadership emphasizes a commitment to protecting shareholder interests as they pursue new green technology projects.