Winning Brands Corporation (OTCMKTS:WNBD) shares were down 33.33% on Monday to $0.00040 and unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00.
Earlier this month, Winning Brands Corporation resumed filing at OTC Markets, following through on its announcement at the start of the year to ramp up operations by implementing measures to restore momentum, increase shareholder value and achieve new goals. To regain the OTC Markets Current Information Tier, the company needed to complete 2015 and 2016 filings. The company aims to regain the Current Information “Pink” Tier again in Q2.
“Let’s be blunt. Most aspiring micro-cap companies don’t succeed. The hurdles are too great. However, there is a small group of survivors who become winners. They persist, they adapt, they evolve. The process is Darwinian – it’s survival of the fittest. It is from these few micro-cap survivors who have overcome the longest period of learning and challenge that the greatest can actually be expected. Such firms have shown that they have the tenacity to make it. Winning Brands is such a company. We are proven survivors, passionate about what we do and positioning ourselves to go beyond surviving to thriving. The outlook for Winning Brands is definitely improving again. By combining the lessons of our legacy work with the new energy of enthusiastic innovators, we have the best of both worlds for good things ahead,” noted Winning Brands Corporation CEO Eric Lehner.
This week, the company posted a supplemental filing at www.OTCMarkets.com over the weekend reporting a reduction/deferral of promissory note conversions. “This standstill will preserve normal trading conditions for Winning Brands common shares during the “period of anticipation” for the restoration of the Current Information designation, as well as after the actual restoration of the Current Information designation, which may take place within 30 days of this supplemental information filing. The standstill reflects the desire of the company to avoid unproductive dilution and demonstrates goodwill by promissory note holders toward the company and its long term best interests. No consideration arises to the holders of the promissory notes nor or any other party, in any form, for the standstill,” the filing stated.
Winning Brands Corporation is a Canada-based manufacturer of cleaning solutions. Its products include KIND Laundry Products, which is a gentle laundry solution; 1000+ Stain Remover, which is a solution that spans a range of clean-up situations; TrackMoist, which is a dirt surface performance enhancer; BRILLIANT, which is a family of commercial garment cleaning and finishing agent for Professional Wet cleaning; BLAU AIRE TURBO, which is an Air Sanitizing and Deodorizing Appliance; ReGUARD4, which is used for firefighters, and CLEAN1, which is a cleaning solution for professional grade results.
The company’s managed products are found in a number of retailers in a variety of countries, including participating locations of Walmart, Home Depot, Lowe’s, Canadian Tire, Home Hardware, Do It Best and other independent retailers. Winning Brands manufactures its portfolio of brands through its operating subsidiary, Niagara Mist Marketing Ltd. via select contracting arrangements.