Table of Contents Hide
- TXTM Stock News
- Letter of Intent
- TXTM Stock Financials
- Media Sentiment
- Technical Analysis
- TXTM Stock Forecast
ProText Mobility, Inc. (OTC: TXTM) is a favorite to many investors since the company reverse merged with cannabis industry leader RSAMMD – leading to the stock’s parabolic 1000% run back in June. While the stock is down more than 70% since it ran near $.02, TXTM stock appears to be on track for a rebound as the company finally filed its Q2 report – which saw the stock run by as much as 60%. With the company set to become Pink Current again in the near future, TXTM stock could be one to keep an eye on this week.
TXTM Stock News
Delivering on its 2020 LOI, TXTM finally reverse merged with Republic of South Africa Medical Marijuana Dispensaries Acquisitions (RSAMMDA) through a share exchange. In this way, RSAMMDA exchanged 100% of its capital stock for preferred shares of TXTM. RSAMMDA is a jointly owned business led by Dylon Du Plooy and Dr. Ahmed Jamaloodeen (Dr. J) who represent RSAMMD and Leeds Boerdery.
Considered to be a pioneer in the medical cannabis industry, RSAMMD is focused on researching, cultivating, producing, and distributing high quality medical cannabis. To facilitate its operations, RSAMMD has partnered with Dr. J’s Leeds Boerdery to utilize his 5 thousand hectare New Castle farm and his federally issued cannabis and hemp licenses. As the world’s largest cannabis farm, the New Castle farm practices eco-farming and organic farming. For this reason, the farm is a Pilot of Excellence for the National Department of Agriculture Forestry and Fisheries as it uses advanced technologies and AI to grow its cannabis. With this in mind, many investors are bullish on TXTM stock’s future prospects as Du Plooy is now the company’s CEO and Dr. J is the company’s new president and chairman.
In the meantime, RSAMMD recently completed the cultivation of its semi-annual grow of cannabis and hemp over more than 1000 hectares. This was done by utilizing Dr. J’s permits and licenses to grow hemp and cannabis, in addition to research permits allowing for testing final products for human consumption and medical benefits. Considering the significance of these licenses, TXTM appears to be well-positioned to grow in the competitive cannabis market in the future.
Letter of Intent
As both companies signed an LOI back in 2020, they spent the past two years developing their operations in South Africa and across the world – while improving the infrastructure for cannabis and hemp extraction. On that note, RSAMMD currently operates a 10 thousand square meter state of the art greenhouse facility with full environment control and cannabis-related specifications which meet international ratings and standards. As well, RSAMMD has private consultation rooms and a medical center focused on medical cannabis science, prescription, as well as dispensing of medical cannabis products.
Based on this, RSAMMD expects this facility to become the headquarters for tracking and distribution of medical cannabis products to hospitals and pharmacies as widespread legalization takes place. At the same time, RSAMMD is bullish its infrastructure will allow it to produce the highest quality cannabis and hemp products in the world.
Meanwhile, RSAMMD has been busy over the past two years securing off-take agreements for end products. In South Africa, RSAMMD has only one off-take agreement with Dr. J’s New Castle farm. However, the company has been looking to increase its global reach and has agreed on several off-take agreements in principle with international leaders in the cannabis industry. In light of this, TXTM stock could see further growth if these deals are announced.
Proprietary Extraction Technology
By acquiring TXTM, RSAMMD intends to integrate TXTM’s proprietary extraction technology with its existing infrastructure. Having previously tested the kettle system and extraction technologies on live cannabis, the technology showed its usefulness. While the company has not disclosed more information regarding this technology, Dr. J promised to “discuss this further as well as our upcoming operational plans”. Moreover, Dr. J shared that “Over the coming days and weeks, we will be sharing our immediate term road map and long-term plans we are developing for Protext which should translate into increasing shareholder value”.
These plans are mainly related to adding assets to TXTM to complement its new direction and commercializing the live plant extraction technology. In addition, TXTM intends to roll out a new crypto platform and a TXTM token in the near future. Through these plans, TXTM believes it could achieve its aim of uplisting to a major exchange. With anticipation brewing over these upcoming catalysts, TXTM stock is one to watch this month in anticipation of more PR.
*Updated June 22nd
Emerging Growth Conference
Promising to share more updates with its shareholders, TXTM has been selected to feature at the Emerging Growth Conference on June 22nd. Through this conference, Du Plooy and Dr. J will interact with TXTM’s shareholders and potential investors which could increase awareness of TXTM stock. With this in mind, many investors are bullish TXTM stock could continue its rally following the conference as the company intends to share its goals and future plans at this conference.
RSAMMD is also updating its website to reflect the acquisition of TXTM at this time. The countdown for the website’s release appears to coincide with the Emerging Growth Conference as the company’s management will be releasing the most recent information regarding its long-term plans at this conference. This could be another catalyst to watch for in case TXTM stock continues its run on bullish news.
As is, many investors are eager to learn more about RSAMMDA LLC. Widely considered a pioneer in South Africa for the research, cultivation, production and distribution of medical cannabis and cannabinoids, RSAMMDA (Republic of South Africa Medical Marijuana Dispensaries Pty Ltd.) formed a joint venture with the biotech company Protext Pharma, Inc. in 2020.
According to the agreement, both companies would test Protext’s proprietary extraction technology using live cannabis and hemp plants. Earlier human clinical trials had shown its technology to be effective at significantly improving absorption rates and bioavailability which could prove to be an important feature for medical cannabis products.
These extraction tests used live cannabis flower, industrial hemp, and the leaves of both to create liquid emulsions using proprietary sonoluminescence extraction technology. Further testing at the labs would identify whether the cannabis extract contained THC. If the extraction process leaves the acid form of CBD (CBDA) and THC (non-psychoactive THC-A) intact it would create a non-psychoactive extract with full medicinal potential. In this way, TXTM could deliver an improved bioavailable medical marijuana product delivered at one fifteenth of a traditional dose – providing relief at a fraction of the cost per dose.
Dr. Jamaloodeen’s wife – Dr. Regina Hurley – stated that, “Assuming the extract has retained cannabinoids in their precursor acid form (THC-A), we believe this proprietary live plant extraction process and technology has global appeal providing potentially important medicinal benefits.” Given that Dr. Hurley is an American Board Certified Anesthesiologist, Fellowship American Pediatric Cardiac Anesthesiologist, registered physician with the American Medical Marijuana Physicians Association, and a well known medical cannabis activist, it appears that TXTM’s technology could have very far reaching benefits.
Dr. Hurley worked alongside Dr. Ahmed Jamaloodeen during the early testing, and both have an extensive background in cannabis studies. As the National Treasurer of the Cannabis Development Council of South Africa (as of 2020) and property owner of the 5000 Hectare Hemp farm in New Castle, Dr. Jamaloodeen has been instrumental to the success of this joint venture.
Since RSAMMD covered the initial costs of testing and commercialization, it will receive an exclusive global license to the technology for hemp and cannabis extracts except for North America.
Now that the testing is complete, TXTM is ready to capitalize on its operations in South Africa and globally where it has built the infrastructure for a global cannabis/hemp business. The company has invested in itself to facilitate the complete seed to sale, R&D, global off-take agreements for its end product. Leading the charge is TXTM’s new CEO – Dylon Du Plooy – who is the CEO and founder of a number of organizations and businesses in South Africa
This comes after TXTM filed a change in control with OTC Markets to showcase its new management team led by Dr. J and Du Plooy. On that note, RSAMMD is now in full control of TXTM since Dr. J and Du Plooy hold 100 thousand Series D preferred shares as well as 50 thousand Series A preferred shares. Based on this, TXTM could be poised for financial growth this year given the vast experience of Du Plooy and Dr. J in the cannabis industry.
*Updated July 27th
Emerging Growth Conference
While participating in the Emerging Growth Conference, TXTM shared some major information regarding the company following its merger with RSAMMD. The most notable update is the TXTM’s ability to farm two or three crops per year – allowing the company to generate more revenues. With this in mind, the company appears to be extremely profitable since it currently has seeds worth $2 – $3 billion. Based on this, TXTM could be well-positioned to realize record sales from its business. On that note, TXTM has permits to import and export to commercialize its products globally including the US. Considering the growing global demand for cannabis products, TXTM could be on track for financial growth as soon as this year.
With this in mind, the company promised to share more details in the future regarding its inventory – in addition to upcoming purchase orders worth $300 – $400 million. Moreover, TXTM shared that it expects its carbon credits to reach $10 billion in five years. In light of this, TXTM stock could be one of the most profitable OTC stocks this year.
Given the company’s status as a global leader in the medical cannabis sector, TXTM was approved for the first South African research on chronic pain. In this study, TXTM intends to replace opioids with cannabis. Given that opioids could be highly addictive, TXTM’s approach could prove to be revolutionary in treating chronic pain. Meanwhile, TXTM plans to expand its business and is looking into psilocybin and using it for the treatment of depression and other psychological disorders. As the company continues to explore new medicinal uses for cannabis, TXTM stock could be one of the best long-term holds considering its low PPS.
Medical Marijuana and Cannabidiol Research Expansion Act
In the meantime, cannabis stocks could soar in the near future as the House approved a marijuana research bill – Medical Marijuana and Cannabidiol Research Expansion Act. With this in mind, the bill is expected to be approved by the Senate in the coming days making this bill the first cannabis reform proposal to reach the president’s desk. This bill is expected to streamline the process of studying cannabis for researchers. In addition, the FDA will be allowed to develop cannabis-based medicines. As this reform could be a major catalyst for the cannabis industry, TXTM stock could be one to hold in anticipation of the Senate’s vote.
*Updated August 12th
Recently, TXTM shared an update regarding its live plant extraction technology which highlighted significant growth potential for the company. Dating back to 2020, the company tested the kettle system’s potential in producing a full profile, non-psychoactive extract using live Genus Cannabis Sativa Plants. While these tests showed positive results, the company was unable to conduct additional studies since the extraction equipment had to be returned to the state after the day of testing. However, the company has been negotiating with the state to receive the Kettle equipment in the months prior to the merger with TXTM. Based on these negotiations, TXTM has been granted the use of the Kettle system without any time constraints at the New Castle farm.
Now that the company has the Kettle equipment, TXTM intends to move forward with the final phase of testing before moving into the closed loop system and commercializing this technology. With this in mind, Dr. Hurley is now able to extract at least 2.5 times higher cannabis recovery retention rate than other competitors in the industry at a higher potency per liter and at a much lower cost. As a result, TXTM could be poised to become a major global leader in the cannabis industry once it commercializes this technology.
At the same time, it is worth noting that this technology is 10-15 times more bioavailable according to the company’s previous tests. In this way, it would take less dosage of full extract cannabis oil usage to produce the same results as other competitors while costing much less. Given that this technology could revolutionize the cannabis industry, TXTM will conduct additional tests in the coming weeks with a focus on maximizing yield and testing several strains of the genus cannabis sativa. With investors anticipating more news regarding these studies, it could be a smart investment to add TXTM stock at its current dip.
In addition, TXTM plans to begin the research and development phase using the new age extraction technology for other plant flora with medicinal properties as part of the company’s focus on reducing opioids in the pharma industry. In light of this, TXTM stock could be a profitable long-term investment as the company’s technologies could make it a global leader in the medical cannabis industry.
*Updated August 31st
Currently Pink Limited, TXTM finally released its Q2 financials to regain Pink Current status. While the company has not been able to add RSAMMD’s assets and revenues to its financials yet, many investors are bullish on the company’s potential as the Q2 report showed that the company has no convertible debt. Based on this, investors would be safe from dilution risk as TXTM continues to deliver on its promise of not diluting its shares. With this in mind, speculations have been growing recently after the company added shares to its OS. However, TXTM’s Q2 report showed that these shares were issued to satisfy the conversion of series A preferred shares held by a shareholder. Now that the company released its anticipated financials, TXTM stock could be one to watch this week as it could regain Pink Current status soon.
Delivering on its previous promise to update its website, TXTM updated its website along with RSAMMD’s website to better reflect the company’s business following the reverse merger. After updating these websites, investors are increasingly bullish on TXTM stock’s future prospects as RSAMMD’s website shows that the company is planning for two acquisitions. Since these acquisitions could cement TXTM as one of the world’s largest players in the cannabis industry, TXTM stock has the potential to rally on more updates regarding the acquisitions.
TXTM Stock Financials
Looking at TXTM’s financials, the company has $203.3 thousand in assets and $1.1 million in liabilities. TXTM did not report revenues in Q1 – yielding a net loss of $51.9 thousand compared to a net loss of $34 thousand a quarter ago due to an increase in derivative expense. Despite this, the deal with RSAMMD could set the company up for financial growth.
@ChaseMacTrades expects TXTM to announce its upcoming acquisitions upon becoming Pink Current.
@DavinciOTC is bullish on TXTM stock’s potential now that the company is free from convertible debt.
TXTM stock is currently trading at $.0049 and has supports at .0036 and .0023. Meanwhile, the stock shows resistance near .0056, .0069, and .0093. Although TXTM has been trading at a dip for a while now, the stock appears to be poised for a rebound soon following the release of the company’s Q2 report. As the stock climbed nearly 60% on the release of the report, TXTM could be one to hold since the company is set to become Pink Current soon.
TXTM recently broke through its MA resistance which could be a price level to watch as the stock could further run if the MA holds as a support. However, if the stock fails to hold this support, TXTM could retest its support near $.0036 which is a strong support level. Based on this, bullish investors could find a good entry point on TXTM stock on retests of the support in anticipation of the company’s upcoming catalysts.
In light of the company sharing its Q2 financials, accumulation trending upwards and the MACD is bullish to the upside. Meanwhile, TXTM stock is overbought at the moment with the RSI at 76. Based on this, investors could wait for the RSI to regulate before entering a position in TXTM stock to realize more gains. TXTM has an OS of 8.3 billion and a float of 7.6 billion.
TXTM Stock Forecast
As the company is merged with a leader in the medical cannabis industry, TXTM appears to be poised for significant growth in the future as it looks to add assets and monetize its plant extraction technology. In this way, TXTM stock could be one of the most profitable OTC stocks to hold long-term. With this in mind, TXTM could be on track for significant growth as the company intends to list on a major exchange in the future and will not pursue a reverse split to achieve this target. For this reason, many investors are increasingly bullish on TXTM’s future plans.
Meanwhile, TXTM stock is one to watch closely this week since the company could become Pink Current soon after the company filed its Q2 report. On that note, investors are bullish on TXTM’s future prospects since the report showed that the company has no convertible notes and is debt free. Moreover, TXTM could be well-positioned to soar soon as the company has plans for 2 upcoming acquisitions as shared on RSAMMD’s updated website. Given that the company is currently Pink Limited, some investors are speculating the company could share news regarding these acquisitions upon becoming Pink Current. In light of this, TXTX stock could be one to hold onto for the long-term as the company continues working to add value to shareholders.
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