Greenlite Ventures Inc (OTC:GRNL) Stock Soars 114%: What’s The Buzz?

As another trading week begins, it may be a good time for investors to perhaps look into those companies that were in the news cycle last Friday, and one of the companies worth looking into is Greenlite Ventures Inc. (OTC:GRNL). On March 15, the company announced that it had inked an agreement with both Woodway USA and Doug Bayerlein, its owner. As per the terms of the agreements, the entities would collaborate on a partnership pertaining to simulated altitude chamber sales.

The parties would also explore additional joint venture possibilities. It should be noted that Woodway is the biggest manufacturer of treadmills in the United States. More importantly, it has a client list made up of all the MLB, NFL, and NBA teams, in addition to a number of NHL teams. Other than that, the client list also includes government agencies, top colleges, and international soccer clubs.

The agreement had been the brainchild of Dave Vincent, a consultant to Greenlite Ventures. Vincent is the founder and Chief Executive Officer of Sporting Edge UK, a worldwide leader in the sales of simulated extreme environments and altitude chambers. In the news release, it was revealed that in 2023, Greenlite Ventures had picked up the exclusive rights to all Sporting Edge patents and products for the North American market.

Following the signing of the agreement, those rights were passed on to Woodway in lieu of a continued top-line royalty from all sales. Over the past five years, Vincent has been working with Woodway on a number of projects. He would be instrumental in the launch of the Woodway Altitude Chambers product on the American continent. Additionally, the three parties had also started work with regards to the launch of the first altitude fitness centers, which would feature all the various products from Woodway.