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MJ Harvest, Inc. (OTCQB:MJHI) has successfully registered its Common Stock in accordance with the U.S. Securities Exchange Act of 1934. On March 19, 2021, the SEC completed its review of MJHI's Form 10 Registration Statement, changing the company's status from voluntary to mandatory filer. This transition will enhance transparency for investors as MJHI commits to regular reporting through Forms 10-K, 10-Q, and 8-K. CEO Patrick Bilton expressed optimism about the added transparency this new status provides to investors.
MJ Harvest, Inc. (OTCQB:MJHI) reported on March 16, 2021, that it encountered misleading promotional materials created by third parties. The Company engaged Alta Waterford LLC for PR services earlier in January, but terminated the agreement upon discovering unauthorized promotional content. MJHI clarified that it did not approve or participate in these materials. The stock exhibited notable trading activity, with 37,100 shares trading at a high of $2.93 following the promotional efforts. As of March 17, 2021, MJHI closed at $1.61 with an average trading volume of 6,745 shares.
MJ Harvest, Inc. (OTCQB:MJHI) announced the issuance of a key patent for its DeBudder Bucket Lid, officially named the 'Flower Stripper,' by the USPTO on January 12, 2021. This patent protects an innovative device designed to rapidly and accurately strip flowers from plant stems. CEO Patrick Bilton highlighted that this development enhances the company's intellectual property, ensuring protection against competitors. MJHI plans to expand the distribution of this product domestically and internationally, reinforcing its market position.
MJ Harvest, Inc. (MJHI) has announced partnerships with Kalix and NPK Industries to offer their hemp cultivation products on Procannagro.com. CEO Patrick Bilton emphasized that these agreements aim to enhance domestic and international sales. Kalix provides a range of nutrients and supplements for hemp growers, while NPK Industries offers the RAW collection, designed for tailored feeding programs. The updated platform allows clients to create accounts for personalized pricing and is expanding services to Canadian distribution.
MJ Harvest, Inc. (MJHI) has announced plans to terminate its relationship with Elevated Ag Solutions, following the underperformance of the weedfarmsupply.com website, acquired in March 2020. The lack of market interest in soils products led to disappointing sales results and gross profit margins, necessitating the return of assets to Elevated. This decision could result in a write-off or impairment of intangible assets as the unwinding process is initiated. MJHI aims to refocus its business strategy after this dissolution.
MJ Harvest, Inc. (OTCQB: MJHI) announces that its two Applications for Registration of Industrial Design for the DeBudder Bucket Lid and DeBudder Edge were granted on June 18, 2020, by the Canadian Intellectual Property Office. These proprietary flower strippers offer efficient harvesting solutions at budget prices. CEO Patrick Bilton noted that these registrations enhance MJHI's intellectual property protection as the company rolls out products in North America and globally. The marketing division, Procannagro.com, has reported successful sales, aiming to boost brand awareness and revenues ahead of the harvest season.