Mr. Nicholas D'Alessandro reports
WORLD ORGANICS PROVIDES ITS THIRTY-FIFTH DEFAULT STATUS REPORT AND
ANNOUNCES THREE NEW APPOINTMENTS TO ITS "GREEN AND GOLD ADVISORY GROUP"
World Organics Inc. is providing its 35th default status report under
National Policy 12-203, cease trade orders for continuous disclosure
defaults. On April 16, 2013, the company announced that it
would not be able to file its audited annual financial statements, the
annual management's discussion and analysis, and the related chief executive officer and chief financial officer certifications for the fiscal year ended Dec. 31, 2012, within the prescribed filing deadline of April 30, 2013.
Subsequent to that date, the company announced on May 15, 2013, Aug. 21,
2013, and Nov. 14, 2013, that the filing of the interim financial
statements, the interim management's discussion and analysis, and the
related CEO and CFO certifications of filings for the three months ended
March 31, 2013, June 30, 2013, and Sept. 30, 2013, would be delayed beyond the
prescribed filing deadlines of May 30, 2013, Aug. 29, 2013, and Nov. 29, 2013, respectively. Furthermore, the company announced on April 16,
2014, that it would not be not be filing its audited annual financial
statements, the annual management's discussion and analysis, and the related
CEO and CFO certifications for the fiscal year ended Dec. 31, 2013, within the prescribed filing deadline of April
30, 2014, and on June 3, 2014, the company regrettably announced that it
was unable to file the interim financial statements, the interim
management's discussion and analysis, and the related CEO and CFO
certifications of filings for the three months ended March 31, 2014, within
the prescribed filing deadline of May 30, 2014. Then on Aug. 19,
2014, the company announced that it was unable to file the interim
financial statements, the interim management's discussion and analysis, and
the related CEO and CFO certifications of filings for the three months
ended June 30, 2014, within the prescribed filing deadline of Aug. 29,
2014.
In accordance with NP 12-203, the company applied for a management cease
trade order, and on May 1, 2013, the British Columbia
Securities Commission issued an MCTO against the chief
executive officer and the chief financial officer of the company. Then
on July 3, 2013, due to the prolonged delay in filing of the 2012 annual
filings, followed by the filing delay of the interim filings, the BCSC
issued a cease trade order in respect of all of the
company's shares. Only a beneficial shareholder of the company (who is
not, and was not, at the date of the cease trade order of July 3, 2013, an
insider or control person of the company) may sell securities of the
company acquired before the date of the B.C. order if the sale is made
through a market outside Canada and the sale is made through an
investment dealer registered in British Columbia.
As previously announced, the Alberta Securities Commission issued a cease trade order against the company on Oct. 8, 2013, for its failure to file the 2012 annual filings, the interim
filings and the second quarter filings. Under Section 33.1 of the Securities Act
(Alberta), the company is ordered to cease trading or purchasing in
respect of any security until the Alberta order has been revoked or varied.
As previously announced, the TSX Venture Exchange suspended the shares of World Organics from trading effective at the
opening on July 4, 2013. The company's shares will be reinstated for
trading only after the B.C. order and Alberta order are revoked, and a
reinstatement application has been submitted and approved by the exchange.
After its reinstatement review, if the exchange is satisfied that the
company has complied with all its listing requirements and if it is in the
interest of the investing public, the shares will be reinstated to
trading.
As previously announced, the company has turned to alternative methods of
raising funds, including mostly loans from related parties, shareholders
and other interested parties (see World Organics news releases of Aug. 7, 2013, Aug. 21, 2013, Sept. 4, 2013, Sept. 19, 2013, Oct. 3, 2013, Oct. 16, 2013, Oct. 30, 2013, Nov. 14, 2013, Nov. 28, 2013, Dec. 11, 2013, Dec. 30, 2013, Jan. 9, 2014, Jan. 23, 2014, Feb. 6, 2014, Feb. 20, 2014, March 6, 2014, March 26,
2014, April 16, 2014, May 1, 2014, June 3, 2014, June 17, 2014, July 7,
2014, July 21, 2014, Aug. 5, 2014, Aug. 19, 2014, Sept. 2, 2014,
and Sept. 15, 2014). As reported then and now, the company continues
to work with a few select groups, and will continue to do so until receipt
of the necessary funds to employ the auditors and complete the 2012 annual
filings, as well as the 2013 annual filings. After which, the company
anticipates it will be in a better position to provide a definitive date
for when it may be able to file the required filings.
There are a number of reasons the company has been unable to prepare and
file its 2012 and 2013 annual filings, and until these filings and all the
required filings are filed, the company intends to satisfy the provisions
of the alternative information guidelines specified by NP 12-203 by
issuing biweekly default status reports in the form of news releases,
which will also be filed on SEDAR. The company intends to file its next
default status report on or around Oct. 13, 2014.
Three new appointments to World Organics gold and green advisory group
World Organics is pleased to announce three new appointments to its
advisory group, the "green and gold advisory group." The new appointees
are Don Grenough of Hollywood, Calif., Kevin Hodge of Olympia,
Wash., and S. Rowan Wilson of Seattle, Wash. All these
three individuals bring a myriad of experience to the World Organics green and gold advisory group, both professionally and personally.
Don Grenough, producer, promoter and social networker
A true showman in every aspect of the word, Mr. Grenough is
internationally respected for a distinguished career in marketing,
promotional and production activities throughout the business and
entertainment industries. Over the past 30-plus years, Mr. Grenough has successfully
produced over 1,000 concerts with such top name entertainers as Bruce
Springsteen, Elton John, Prince, Tom Jones, Sting, Julio Iglesias, The
Jacksons, Mariah Carey and many others. Professionally, Mr. Grenough has
produced and orchestrated special events for such luminaries as President
Bill Clinton, Craig MacCaw (MacCaw Cellular), Hugh Hefner (Playboy
Enterprises), Mohammed Ali and the past Governor of California, Gray
Davis. As a co-founder of Herbalife International in 1980, Mr. Grenough
was pioneer at the forefront of the trend toward natural health products.
During his tenure at Herbalife, Mr. Grenough played a key role in co-managing the
revolutionary way in which Herbalife became a worldwide multibillion-dollar marketing giant.
Over the years, Mr. Grenough has held numerous executive positions,
including positions of president and senior vice-president in many
national and international corporations. Moreover, Mr. Grenough's immense
talent has allowed him the opportunity to partner with high-profile
business icons including Mark Hughes (Herbalife), Anthony Robbins
(professional speaker, author), Bernie Cornfeld (Investors Overseas
Services), Roger Vadim (director, actor) and Donald Sterling (owner, Los
Angeles Clippers). Equally impressive as a motivational speaker, Mr. Grenough is
heavily involved in non-profit organizations such as the Michael Jackson
Foundation and PBS, the Public Broadcasting System, in partnership with Dr.
Gary Null.
Mr. Grenough has had a long relationship with the company as he has served
twice as a director of World Organics during the periods of January, 2003,
to September, 2004, and from December, 2009, to August, 2011. More recently,
Mr. Grenough has been appointed senior vice-president of Global Skyport
Media, which is a multimedia multifaceted full-service media group with
interests in television production, distribution, television management,
satellite uplink and master control services, digital and mobile phone
technology, radio programming, and music production. A most welcome
addition to the advisory group, Mr. Grenough brings to the company his
years of unique experience and expertise in the fields of business and
entertainment, as well as his well-established long-standing Hollywood
relationships.
Kevin Hodge -- founder, environmentalist, and composite designer and manufacturer
As founder of Hemp Adobe Homes, Mr. Hodge has 30 years of experience
in the composite design and manufacturing industry. Mr. Hodge is
responsible for design, tool and mould manufacture, and logistics for Mobile
Gardens, which teaches people of all walks of life about sustainable
agriculture in small spaces, as well as Grow Smart Greenhouses -- "four-season" greenhouses made from an earth-friendly aviation technology, Live
Smart yurts -- circular, semi-permanent tent-like structures that are
simple, smart and sustainable, made from collapsible bent wood, and new
concepts in power generation and growing mediums.
In 1982, Mr. Hodge enlisted in the U.S. Marine Corps where he served with the
Harrier tactical aviation group until honourably discharged in 1986.
After his tour of duty and over the next few years, Mr. Hodge honed his skills
in all facets of the plastics and coatings industries. Throughout this
time, he remained true to his passion for aircraft and worked under
contract for various composite aviation companies, including Express
Aircraft and Sport International (now Sport Copter Inc.). Since 1991,
Mr. Hodge has had the wherewithal to found five companies, three of which
have been composite manufacturing and design firms. From a desire to make
a difference, Mr. Hodge joined a group of pioneers in the sustainability
movement to form an alternative energy group in August, 2007. Moving
forward, and to keep informed on current issues regarding sustainability,
developing environmental applications and future technologies, Mr. Hodge stays
actively involved in national and worldwide organizations that understand
and fully support green and sustainable ways for life and business.
Today, Mr. Hodge enjoys the collaboration in the creation and implementation
of new design concepts for sustainable communities using Hemp Adobe Homes
-- his company -- as the vehicle. Houses built from industrial hemp have
been found to use less energy, create less waste and take less fuel to
heat than conventionally constructed homes. Developed from his years of
experience, Hemp Adobe Homes are made from industrial hemp using unique
and proprietary methods. As the company continues its due diligence of
the medical marijuana and hemp industries, the addition of Mr. Hodge to
its green and gold advisory group adds to the work experience or exposure
of other advisory group members within these fields.
S. Rowan Wilson, MBA -- mensan, activist, and Generation Xer
"So how does a nice, conservative Jewish woman like you get involved in
pot?!" is the usual question. It's a fair question. She grew up a kid of
the 80s "just saying no" until her weight spiraled with continual pain
and another job layoff. Ms. Wilson exemplifies the challenges and
changes faced by Generation-X. Two-income families, rising divorce rates
and a shift from a manufacturing economy to a service economy, Generation Xers
have had to be more flexible, committed to more than one "life" employer
and more willing to change jobs to get ahead than previous generations.
They are independent, resourceful and self sufficient. Ms. Wilson is a typical
Generation Xer. Her background includes an undergraduate degree in music from
the University of Texas at Austin, a voice performance
certificate from the Austrian American Mozart Academy in Salzburg and an
MBA started at Notre Dame University's sister school, St. Edward's
University, which was completed summa cum laude in 2011 at Colorado's Jones
International University. At the early age of four, her mother put her on
stage. By 18 she was apprenticed to an opera company. Ms. Wilson sang
throughout the Germanic countries, and the South and the Midwestern United
States. She later taught voice at the University of Texas at Austin before pursuing her other
passions leading into the late 1990s tech boom. It was in Europe when
she first discovered the benefits of natural medicine, eventually leading
the "nice conservative now-divorced Jewish woman" to cannabis.
During this time and while still in her 20s, Ms. Wilson worked as a
project manager to product manager for such companies as Motorola, I2
Technologies, now JDA, and Garage.com. After the dot-com bust, Ms. Wilson enrolled in law school in England prior to her return to business. Before
the 2008 banking crash, she spent several years working in commercial real
estate lending, financing $500,000 to $55-million commercial properties from retail
strip malls to apartments, storage units and office buildings.
Other interests include an involvement in politics and activism. Her
childhood included working on political campaigns with her father, a noted
small-town attorney. She hikes, blogs and cooks, and is a hobbyist gardener and
an avid cannabis baker. She was introduced to cannabis in her mid-30s as
a method back to her European singing days where she discovered the
benefits of natural medicine. In fact, while working on pre-med coursework
in Nevada, Ms. Wilson took preliminary steps to open her own cannabis-baked
goods shop a mile and a half from a legendary brothel. Shortly
thereafter, she abandoned a further PhD and the pursuit of a doctor of
osteopathy. She then again returned to business in the field of medical
sales for device and service companies. Today, Ms. Wilson continues to teach
and speak from time to time on topics including the basic science of
cannabis.
Ms. Wilson has worked in the field of insurance for substantial companies
such as Banker's Life & Casualty Company, Dignity Memorial and State Farm
Insurance. Up until quite recently, Ms. Wilson held a day job in finance
utilizing her MBA in finance. She has now left it to spend full time on
the growth, development and expansion of the medical marijuana and
industrial hemp industries. In furtherance of her new career path, Ms.
Wilson has started a website, Mary Jane's World, from which she offers a
comprehensive menu of research products and services.
Mr. Grenough, Mr. Hodge and Ms. Wilson join Guy
Dumas of Sault Ste. Marie, Ont., Justin MacArthur Rand of Boston,
Mass. (see the company's news release of June 17, 2014) and Dr.
Lila York of Seattle, Wash. (see the company's news release of
Sept. 15, 2014) on the World Organics green and gold advisory group.
The combined experience of all members of the advisory group will greatly
assist the company in moving forward on its tentative plans, particularly
within the medical marijuana and industrial hemp industries.
The company reports that, except as described herein and since the
issuance of the original default announcement on April 16, 2013, and the
subsequent 34 default status reports of May 1, 2013, May 15,
2013, May 29, 2013, June 12, 2013, June 26, 2013, July 10, 2013, July 24,
2013, Aug. 7, 2013, Aug. 21, 2013, Sept. 4, 2013, Sept. 19,
2013, Oct. 3, 2013, Oct. 16, 2013, Oct. 30, 2013, Nov. 14,
2013, Nov. 28, 2013, Dec. 11, 2013, Dec. 30, 2013, Jan. 9,
2014, Jan. 23, 2014, Feb. 6, 2014, Feb. 20, 2014, March 6,
2014, March 26, 2014, April 16, 2014, May 1, 2014, June 3, 2014, June 17,
2014, July 7, 2014, July 21, 2014, Aug. 5, 2014, Aug. 19, 2014,
Sept. 2, 2014, and Sept. 15, 2014, there have not been any additional material changes to
the information contained therein. Further, the company has not failed to
fulfill its intentions as stated therein with respect to satisfying the
provisions of the alternative information guidelines specified by NP
12-203 and, except as disclosed in this news release, there are no
additional defaults or anticipated defaults in respect of the company and
its affairs that have not been generally disclosed (see the company's news releases of June 19, 2013, July 16, 2013, April 1, 2014, June 3, 2014,
June 17, 2014, and Sept. 15, 2014).
We seek Safe Harbor.
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