Posted on February 9, 2021 by Brad Steveson
Yes, I know what you are thinking. Who is Forwardly, Inc. and why are you writing about this obscure OTC ticker (FORW)? Let me give you two reasons.
First, I follow Tesoro (TSNP), aka HUMBL. I first wrote about how I discovered TSNP here. HUMBL, Inc. Reminds me to be Humble – Breakout Investors. I later followed up with a summary of the December investor call here. HUMBL, Inc. (TSNP) Hosts Zoom Investor Call – Breakout Investors.
Second, the President and CEO of Forwardly is George Sharp, the man who kicked off the first TSNP investor call introducing HUMBL to the world and FORW is the investor who purchases 500 million TSNP warrants. To quote from the article: “Were these warrants to be exercised, and as of the issuance of this press release, Forwardly would book an $830 million asset”.
This is the value of FORW at the present time. In other words, as TSNP goes, so goes FORW. According to FORW – Forwardly Inc. | Security | OTC Markets, Forwardly has 440 million shares outstanding. If the value of the company is $830 million, that puts the value per share at $1.88. FORW trades as low as $86c today and closed at $1.09.
While we do not know the exact terms of the warrant purchase, George has tweeted about this more than once. Here is one of those tweets.
So, as you can see, the value of FORW moves with the price of TSNP. The warrants are locked up until November of this year and I was interested to see this quote from today’s PR. “As Forwardly purchased these warrants as a long term investment in Tesoro/HUMBL, the company does not anticipate exercising these warrants over the near term.”
I think George is a believer in the TSNP aka HUMBL story. FORW plans an investor update in March. George has indicated there will be material news to discuss. It will be interesting to find out what that news is.
Disclosure: I am long TSNP and I may buy or sell shares in the next 72 hours.