Better For You Wellness Inc. (OTC:BFYW) Stock In Focus After Shareholders Update

Key pronouncements from a company’s management about the quest for profitability and growth almost always generate considerable interest among investors. On December 18, Better For You Wellness Inc. (OTC:BFYW) was in the news cycle after its Chairman and Chief Executive Officer Ian James issued an open letter to the shareholders about strategic decisions from the company to generate growth.

James noted that under his leadership, the commitment of the company had been to boosting value for the shareholders. He called the concerns about the raising of the number of authorized shares myopic and stressed that there were long-term benefits.

In his letter, James revealed that the current number of authorized shares for Better For You Wellness was 500 million, and the current number of issued shares was 419 million. 78 million shares remained in reserve. The number of shares that were available to be issued stood at fewer than 2 million. He concluded by stating that, as things stood, the company did not have the necessary number of authorized shares for sustained growth. He then spoke about the acquisitions of a number of brands and assets in The Ideation Lab.

Among the acquisitions made by the company, James called the Stephen James Curated Coffee Collection, a premium coffee line, the ‘crown jewel’. He noted that the entity was in a great position to generate exponential growth due to its presence in Ohio Kroger stores, Amazon, and other retail locations.

Additionally, he went on to note that there had been a number of promising discussions with a number of retailers and grocers with a national presence. In order to help with the expansion, Better For You Wellness had decided to raise at least $3.5 million in the form of debt capital by way of a five-year term note.