Miami-based Omni Health (OTC: OMHE), a company developing cannabis-based pharmaceuticals and anti-aging products, declared in an annual shareholder letter in May the last two years its plans to deliver news and developments soon, but rarely follows through with any news. This leaves shareholders, potential investors, and financial news services wondering if the company is progressing.
The company has 1.14 billion shares outstanding, a market cap of $4.2 million, and a stock price currently at US$ 0.004.
In its very meager corporate update last May 2018, the CEO declared a number of plans, including a new public relations department that would issue regular news. However, we can find no news since this declaration, making the company’s and CEO’s promises seem empty.
In the May 2018 letter, the CEO declared:
- A new investor and public relations department that “will serve to promptly and effectively address shareholder questions”… “using Facebook and Twitter to provide formal updates about company news.”
As of October 2018, Omni Health has made virtually no social media postings and does not appear to be making any effort at communicating company news through a viable social media presence.
- Omni further claimed in May 2018, “in the coming weeks Omni Health intends to sign a letter of intent to initiate a cooperation with a Singapore-based tech firm to begin exploring pharmaceutical blockchain technology…The company will be issuing further updates to the shareholders upon executing the LOI.”
After a recent internet search, there do not appear to be any further updates on this news.
- Omni further claimed in May 2018, “Omni Health will soon be announcing the licensing agreement of a breakthrough OTC analgesic pain cream. Based on 4 proprietary components it will boast the world’s first scientifically proven Nanoethasomal delivery system for terpenes, stem cells, Phyto Botanicals and pain drugs. Its rollout to the North American market is slated for Q3 2018 and European market for Q4 2018. The company is in the process of building a multi-million dollar distribution network.”
After a recent internet search, there do not appear to be any further updates on these plans.
- Omni further claimed in May 2018, “Omni Health is working diligently to finish the audit of their financial statements, becoming fully reporting entity. Once completed this will help to clear a path for an uplist to Nasdaq.”
Cannin can find no press releases containing such financial statements.
- Omni further claimed in May 2018, “Effective December 13, 2017, Omni Health, Inc. entered into a distribution agreement with MediCann, a premier distributor of CBD products in Europe. The agreement—worth €3,700,000—has enabled Omni Health, to rebrand and license its portfolio of anti-aging CBD products, exposing it to markets in more than 22 countries. As of March, 2018, this distribution agreement is in full effect with European distribution lined up pending approval of European regulators.
Again, we at Cannin are interested in following this development but can find no news from Omni about further developments.
- Omni further claimed in May that “Earlier in 2018, Omni Health announced its intent to open a functional medicine clinic with a focus on (CBD based) anti-aging and aesthetic treatments by December of 2018. The company is in the midst of completing necessary licensing requirements and remains on-track for end-of-year operation. The company anticipates pro-forma annual revenue of $7,500,000, per clinic opened. Omni Health is currently in negotiations with several existing functional medicine clinics for potential acquisition with a goal to build a first of its kind chain of such clinics and integrate our own products into this supply chain.”
Again, we can find no news from the company about progress on this announcement.
- Omni further claimed in May that “With six global business units, diversified across staple industries and emerging markets, we…capitalize on lucrative markets such as specialty pharmaceuticals, regenerative medicine, anti-aging products, skincare technologies, CBD biotechnologies and more. This makes Omni Health the “only company in existence of its kind, giving a superior edge over competitors.”
“Our company prides itself on maintaining transparent business operations, working diligently on behalf of our investors to pursue positive, sustainable growth in a way that returns value to stakeholders.”
We at Cannin believe that such bold claims of financial promise, transparency and progress should be met with real follow through, in the form of regular, transparent press releases, so that shareholders and the investing public can follow the progress of this publicly-owned company.
We hope Omni Health begins communicating soon.
Source Omni Health press release May 21, 2018