CHICAGO, Sept. 14, 2020 (GLOBE NEWSWIRE) -- As CEO of Lord Global corporation, I’d like to clarify the history of the Company. While we await FINRA approval to officially be 27 Health Holdings Corp., we are still known as Lord Global Corporation in the stock market. Our symbol will remain (LRDG) even after the name change is approved. In January, we invested into a publicly traded company named Bigfoot Projects Inc.(OTC:BGFT). Simultaneously with this investment, we took control of the Board of Directors and sold 81% of the prior company’s business to the company’s former CEO, Tom Biscardi. The company has no operational connection nor any association with the former CEO or any of its former board members. The Company made a decision to operate out of its wholly-owned subsidiary, 27Health Inc. All of our focus and subsequent capital raises have been to further the mission of 27Health Inc. that we revealed in our prior shareholder letter dated June 5th 2020. Alexandra Aizenshtadt and I are presently the only members of the Board of Directors. However, we intend to augment the board with individuals who have the relevant expertise we need to further 27Health Inc.’s businesses. I would now like to update you on the Company’s progress since our last shareholder update.
The Company announced on July 7th 2020 a joint venture with J.A. Lafayette Consulting. J.A. Lafayette is a minority, Black-owned operation focusing on financing and supporting established Black-owned businesses. There are an estimated over 2 million Black business establishments in the U.S. J.A. Lafayette, with our access to capital, is concentrating on helping these businesses connect to capital markets in order to accelerate their growth. As a result of this relationship, we’ve signed a collaborative agreement with Innovative Regulatory Risk Advisors LLC. (IRRA). IRRA is an SBA8(a) licensee which allows them to sell any product to the U.S. federal government on a no bid basis. We have established a mentor/protégé relationship with IRRA under this SBA program. On August 10th, the Company announced that, in collaboration with IRRA and others, we signed our first major fuel supply contract to deliver fuel to a series of distributors, that would generate the Company in excess of $50 million of revenue per week. This revenue would generate a significant operating margin to The Company once we secured a fuel reseller agreement. Last week on September 10th, we announced that IRRA and 81 Logistics Group LLC. had signed an agreement with ExxonMobil to be a reseller of all types of fuel. The Company has established an administrative and financing agreement with 81 Logistics Group LLC. and its founder, NFL Hall of Famer, Tim Brown. 81 Logistics Group LLC. is one of the few Black-owned companies that can distribute fuel in all 50 states. This will enable the Company to deliver on the prior $50 million per week fuel contract. In addition, this reseller agreement will enable IRRA to pursue contracts which the U.S. Federal Government offers to such SBA8(a) licensees. We believe that there are few if any Black-owned SBA8(a) licensees able to sell fuel to the Federal Government. In addition, we believe we are unique among public companies to have this opportunity. The Federal government buys an inordinate amount of fuel on a monthly basis. We are confident that our agreements with IRRA and 81 Logistics Group LLC. will generate significant excess cash flow to the company on a monthly basis. We intend to utilize our agreements with IRRA and 81 Logistics Group LLC. to cross-sell our healthcare products which are designed to benefit from the structural changes in our society due to the pandemic to both the Federal Government as well as the Black business community. We are extremely excited about working with Tim Brown and IRRA in this regard.
On September 10th the Company also announced an administrative and financing agreement with KeyOptions Inc. an Australian data analysis and implementation company. KeyOptions has the master distribution rights to distribute the Virolens® product to the following regions: Asia, Australia, New Zealand and other Oceania countries. The highly scalable Virolens® COVID-19 screening The Virolens®️ system is a COVID-19 screening device based on microscopic holographic imaging and artificial intelligence (AI) software technology. It uses a digital camera attached to a microscope to analyze saliva samples, with the data run through a computer which is trained to identify the virus from other cells, delivering an end result in just 20 seconds. The Virolens® system was trained to recognize the COVID-19 virus particles in saliva using a range of samples of COVID-19 virus provided by virologists working on the virus at the University of Bristol. The Virolens®️ system has a 99.8% sensitivity and 96.7% specificity, based on the results of an internal in-vitro validation study, demonstrating an exciting proof of concept. The administrative and financing agreement between KeyOptions Inc. and our Company enables 27 Health Holdings Corp. to report all the revenue generated by this product in the markets that KeyOptions is licensed in, while allowing KeyOptions to remain private. The Company’s relationship is to help administer and finance KeyOption’s Virolens® business. KeyOptions is receiving, based on milestones, a convertible preferred in our stock that will convert into between 1.5 to 3 million common shares.
We are extremely proud to have successfully completed these two administrative and financing agreements, both of which we expect could generate substantial revenue to the Company. Our unique administrative and financing agreements are a structure that enables our public company to successfully engage with companies that would prefer to stay private, while allowing them the opportunity to access public capital by virtue of being shareholders of our company. We intend to utilize this technique in future such endeavors.
We would also like to update the shareholders on the progress Coviguard Inc. has made in the production of the Oral Sanitizer, Coviguard™. Coviguard Inc. has selected two outsourced manufacturers. They have received enough ingredients to complete sample batches, and we have been told that we will be receiving those samples shortly. It has taken longer than anticipated due to each manufacturer's dealings with its own pandemic slowdown. However, Coviguard Inc. believes that we are very close to getting our first production run and we look forward to fulfilling Global Cannabinoid’s subsidiary, Global Sanitizer’s pending order.
In response to the SEC, the Company filed an 8k detailing its response to the SEC’s suspension of trading from August 20th to September 4th. We feel that we have appropriately disclosed everything in relation to the Coviguard™ product and are pleased that trading has resumed. The Company intends to file a 15c-211 with a broker/dealer as soon as possible. In the meantime, we are trading on the Expert Market which enables any investor to use any electronic trading platform to buy and sell shares.
While this past month has brought unexpected challenges, we at 27 Health Holdings Corp. are proud that we have come out of this in an even stronger position than before. In combination with our new strategic partners, we are confident that together we will increase shareholder value.
Joseph Frontiere
CEO of Lord Global Corporation
(n/k/a 27 Health Holdings Corp.)
About Lord Global Corporation
Lord Global Corporation intends to focus on the business development of its 27Health Inc. subsidiary. 27Health Inc. is dedicated to financing and marketing innovative, healthcare related products that are and will benefit from the permanent changes caused by the recent pandemic. It is our feeling that this crisis has accelerated the market share of direct to consumer healthcare products and services. Prior to the crisis, the direct to consumer cloud-based market was among the fastest growing, subsequent to this crisis, we believe that 10 years’ worth of market share has been condensed into several months. Hence, we have signed collaboration and distribution agreements with several companies. We believe that focusing on independent contractors and GIG-economy workers for all these products and services will help us in cross-selling each of these products and services to the same database. The Independent contractor and GIG-economy worker has been and is the fastest growing component of the U.S. labor supply and is estimated to be at least 60 million people. We are also laser focusing on a significant subset of this group, the Black business community through our minority owned subsidiary J.A. Lafayette. The pandemic is teaching individuals forced to work from their home to become adept at telecommuting. We believe coming out of this crisis, a large number of these individuals will prefer to work from their phones and computers and from any location as opposed to a fixed office. This will hyper-accelerate the already significant growth of this component of the U.S. labor supply. We believe that marketing health related products and services to this market will make us one of the fastest growing healthcare marketing companies.
Safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. For example, statements about future revenues and the Company’s ability to fund its operations and contractual obligations are forward looking and subject to risks. Several important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the inability to raise capital to support the Company through its growth stage, the Company’s inability to generate projected sales and trade relations between the United States. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
27Health, Inc. PR Contact Information
Sean Carter
info@27health.net
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Lord Global Corporation (n/k/a 27 Health Holdings Corp.) Shareholder Update September 14th 2020 - GlobeNewswire
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