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Saturday, November 28, 2020

Don’t Overlook BAHAMAS DEVELOPMENT ORD (OTCMKTS:BDCI)

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BAHAMAS DEVELOPMENT ORD (OTCMKTS:BDCI) is flying under the radar for most folks on the OTC. But it shouldn’t be overlooked. BDCI is one of the few microcap cannabis plays to be working so far in 2018, up about 400% on the year at this point. Now, the company is working to secure more capital for expansion. As a case in point, BDCI just announced that its subsidiary company Cannabis Consortium, Inc. has secured a Private Placement of $1,000,000 that will be invested directly into Cannabis Consortium.

According to the company’s release, “The investment is from a private investor, who will receive shares in Cannabis Consortium. The $1,000,000 investment is completely non-dilutive to BDCI. No shares, options, warrants or debt agreements were executed by BDCI in the acceptance of this money. The initial investment of $800,000 will be funded by May 1, 2018. This allows the building acquisition to close on or before May 15, 2018. The $200,000 balance will be deposited by May 30, 2018, or sooner if Cannabis requires it.”

BAHAMAS DEVELOPMENT ORD (OTCMKTS:BDCI) bills itself as a company that works with companies doing business in the Bahamas and Caribbean region through its working relationship with the Bahamas Port Authority. The company’s focus is on businesses that are looking for a more tax friendly environment in the Bahamas, due to the Hawksbill Creek Agreement.

On March 3, 2017 BDCI acquired Native Outfitters (www.nativeoutfitters.com).

Cannabis Consortium is comprised of four (4) revenue streams compromising specialty items, foodstuffs, beverages, and one (1) research division. Three (3) of the revenue streams are derived from edibles and the other revenue stream is from investments. The research division will focus on the medical benefits of CBD oils for the treatment of animals.

According to company materials, Cannabis Consortium is actively pursuing five (5) revenue streams in the cannabis marketplace: Specialty items, Foodstuffs/Edibles, Beverages, Investment, Research/New Products. The first three (3) revenue streams are comprised of edible products and ancillary items related to the edible marketplace. The 4th stream Invests into other private cannabis operations. The final stream, research, will focus on the medical benefits of CBD oils for the treatment of animals. Trans Global Group, Inc. is the majority shareholder of BDCI and has an exclusive marketing agreement with Cannabis Consortium for its specialty products. Bahamas Development Corporation, in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg FD.”

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The details of the company’s latest deal are important to note as well:

“Cannabis Consortium does not own or operate any licensed cannabis operation. Cannabis Consortium is entitled to receive 15% of the annual net revenue collected by its partners from every project it is involved with. The Company is also entitled to receive 15% of the proceeds its partners receive should any company be sold. Cannabis acts as a consultant in these transactions and is not involved in any day-to-day operations or decision making for any of the licensed cannabis operations. Cannabis may own assets in the future that are leased to various licensed entities operating in the cannabis sector. Cannabis will receive rent from any asset it leases to the cannabis sector.”

Recent action has seen 75% piled on for shareholders of the listing during the trailing month. This is emblematic of the stock. BDCI has a track record that includes a number of dramatic rips. In addition, the name has seen interest climb, with an increase in recent trading volume of just shy of 250% above the average volume levels in play in this stock over the longer term.

Now commanding a market cap of $10.6M, BDCI has virtually no cash on the books, which must be weighed relative to about $103k in total current liabilities. The company is pre-revenue at this point. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $BDCI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $BDCI, either long or short, and we have not been compensated for this article.

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