Dear valued shareholders and stakeholders:
In 2024, Branded Legacy, Inc. will blaze a new path toward growth and success. The past year saw many changes within this organization, including an entirely new management team. During this time we modified our share structure by retiring 2.4 billion common shares, and reduced our authorized share count by 1.5 billion. Our team initiated a name change to Royal Enterprises Inc, which we expect to take effect early in the new year. We spent the last half of 2023 reorganizing, and positioning ourselves to generate revenue with significant profit margins. Now, at the beginning of the first quarter, we see the results of our efforts paying off.
As the leader of this organization, I want to publicly reiterate that we believe in our products. We set out to differentiate ourselves from the competition by rigorously applying the scientific method to our product development, and we believe we have succeeded in doing so. Beyond our in-house trials, we are now receiving feedback directly from the market. This feedback has been overwhelmingly positive, and we expect this to drive sales throughout the year. In addition to our VapeRx migraine rescue vape, and ElixRx migraine prevention tincture which are already on shelves across the country, we will be releasing several additional formulas within these form factors. Expect VapeRx Anxiety Rescue and ElixRx Sleep Support tincture to be on shelves by the end of Q1. Beyond our CBD based offerings, 2023 saw the successful release of our MoodMix commercial dosing syrup for kava bars, as well as our MoodMix capsules. We expect our MoodMix tincture to be available to consumers by the end of Q2. Feedback on these products has been outstanding, and we expect significant increases in sales of these products to be evident by the end of Q1.
With our acquisition of MariJ Pharmaceuticals we greatly increased our ability to offer contract extraction services. Our Q1 activities will prioritize increasing our client base for these activities as we begin to expand our white label co-packing operations. We are also currently engaged in applying the force of our in-house marketing team towards improving the branding of MariJ’s award winning products, and getting those products moving through our distribution network.
Our Acquisition of All In Extracts, LLC earlier this month really set the tone for the new year for our company. With 800 sf of lab space, equipped perfectly to complement our existing operations, we’ve skipped the line in terms of expansion. All In’s 16 acre grow space and greenhouse array will allow us to generate our own supply of USDA certified organic biomass, from hemp to kava to anything else we could possibly want. This will allow us to better utilize our USDA organic certified extraction lab, providing the cleanest possible products to our customers. One of the most exciting aspects of this acquisition is putting All In’s inventory directly into our distribution channels, allowing us to immediately grow their existing revenue.
Personally, I’m very excited for the public to see what we’re capable of in terms of executing our company plans. Q1 gives us the opportunity to do that, as we transition from our reorganization phase into full power operations. I know that many of our investors have stressed the need for increased revenue, and while the feedback on our plans and goals has been very positive, there’s nothing quite like showing positive results in terms of exponential revenue growth.
Now, I want to stress here that our focus on driving revenue is not going to hinder our long term goals for expansion. I would remind our investors that our goal of a closed loop system wherein our waste is converted into raw materials for the textile and construction industries is a core concept of our overall corporate identity. Our team has been working on ways to combine this initiative with our social sustainability efforts. These efforts have been producing results in the form of burgeoning partnerships which will allow us the freedom to expand our preclinical trials without inflating our budget. The program we are developing will benefit our preclinical trials by reducing our material cost, increasing our sample size, and improving the quality of data generated. Furthermore it will support our social sustainability efforts by providing early access to therapies for those who are most in need.
Concerning our budget, I can confidently say that I am very pleased with our position. In addition to our current operations being fully funded, we have several additional opportunities lined up. In an effort to protect the equity of our shareholders, we have refused funding offers that would involve diluting our stock. I will, of course, keep this option on the table for future expansion, but dilutive funding will always be seen by us as a last resort. In the meantime, and as our revenue increases, we will keep as much cash in reserve for expansion as our board and primary investors will allow.
In 2024 we will double down on our commitment to transparency and accountability. Our investor packet will be updated quarterly and we will hold another teleconference early in the year. We will also be inviting the public to an open house at our main facility in Melbourne Fl, details on which shall be released on the Buffalo Fireside Chats podcast. Additionally, we will increase our presence on public outlets such as podcasts, social media, conventions, etc. As always, we strongly encourage people to contact us directly for information about our company. Anyone who has tried will tell you that it is fairly easy to get a team member on the phone, up to and including myself. We will maintain an open door policy, and we encourage our current or potential investors to take advantage of this.
In conclusion, everyone on the Branded Legacy team is excited about the opportunities before us in 2024. We appreciate this opportunity to prove ourselves in the marketplace, and we hope to have your continued support.
Sincerely,
David C. Oswald
Chief Executive Officer | Branded Legacy, Inc.
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