Forward Water Technologies Corp. Due Diligence Report
Price: $0.06 Market Cap: $6.4 million Common Shares: 106,103,098 Insider/Institutional Holdings: 70,905,970 or 67% (See recent information circular for more details) Website: https://www.forwardwater.com/
As of June 30, 2022 Cash: $2.4 million Total Assets: $3.9 million Total Liabilities: $853K
Numerous Partnerships - See Sedar news releases for more information
About Forward Water Technologies Corp - Forward Water is a publicly-traded Canadian company dedicated to saving the earth's water supply using its patented Forward Water Osmosis technology. The Company was founded by Green Centre Canada a leading technology innovation centre, supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors.
Major Highlights for the three months ended June 30, 2022
• On April 25, 2022, FWTC signed a development testing contract with Cornish Lithium Ltd (UK) to evaluate the ability of FWTC’s process to concentrate lithium containing feed streams at the engineering evaluation scale in Sarnia ON
• On May 26, 2022, the Company announced that it has been selected by the panel of The Centre for Ganga River Basin Management and Studies (cGanga) to participate in the Environment Technology Verification (ETV) program. The ETV program is used to accelerate the introduction, piloting and adoption of innovative new water and wastewater technologies into the India market
• May 30 – June 3, 2022, Howie Honeyman, CEO and Grant Thornley, VP of Engineering Sales, presented at the IFAT Conference in Munich, the world’s largest platform for water, sewage, waste and raw materials management
• June 11-22, 2022, Howie Honeyman visited the Goldfinch forward water pilot site in Boisar, India to review the process and provide technical assistance
• June 13-15, 2022, Grant Thornley presented at PDAC in Toronto, an international mining and exploration conference
Major Highlights Subsequent to June 30, 2022
• Significant progress has been made on the building of the mobile demonstration unit which is now 65% complete with an anticipated completion date of early fall, 2022. Supply chain issues, particularly in regards to electronics and controls have made it difficult to confirm a completion date at this time
August 29th 2022 News Release: Forward signs early development deal for Li isolation
Management Howie Honeyman - 2,596,820 Wayne Maddever - 242, 000 Lea Ray - 110,000
Total Shares Held - 70,905,970 out of 106,103,098 or 67% of the float.
To the best of the knowledge of the directors and senior officers of the Company, no person holds, directly or indirectly, or exercises control or direction, over more than 10% of the issued and outstanding Common Shares of the Company other than: (i) GreenCentre Canada which has ownership and control of 14,668,560 Common Shares that represent approximately 13.8% of the issued and outstanding Common Shares (calculated on a non-diluted basis), (ii) Sustainable Chemistry Alliance which has ownership and control of 26,644,295 Common Shares that represent approximately 25.1% of the issued and outstanding Common Shares (calculated on a non-diluted basis) and (iii) FirstLine Venture Partners Corporation which has ownership and control of 26,644,295 Common Shares that represent approximately 25.1% of the issued and outstanding Common Shares (calculated on a non-diluted basis)
The Company's authorized capital consists of an unlimited number of common shares ("Common Shares") without par value, each share carrying the right to one vote, of which 106,103,098 Common Shares are issued and outstanding as at August 23, 2022 (the "Record Date"). The Company has no other classes of shares.
-------------------- A proper due diligence will lead you into prosperity Posts: 620 | From: Canada | Registered: Jun 2008
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