AgriFORCE Issues Letter to Shareholders

Core Viewpoint - 2024 is identified as a transformational year for AgriFORCE, focusing on innovation in the agriculture industry through technology patenting and partnerships, while realigning its business plan to better fit attainable opportunities in a challenging microcap market [1][2] Business Strategy - The first half of 2024 is dedicated to examining assets and developing a direction to create shareholder value, with a focus on ESG issues and climate change [2] - The strategy includes monetizing the exclusive RCS systems license and marketing Awaken Grains flour™, while expanding into the Carbon Credit and Renewable Energy Credit markets [2][3] Current Status - The company aims to enhance shareholder value by developing a pipeline of products aligned with its vision for carbon neutrality in agriculture [3] - Two parallel paths are being followed: maximizing the value of existing assets and seeking accretive acquisitions and partnerships [3] Financial Management - AgriFORCE is committed to cost-effective operations, reducing outstanding debentures from approximately $11.4 million to $7.9 million, a 31% reduction [4] - A $1 million share repurchase program has been approved to demonstrate commitment to shareholders [4] Technology and Product Development - The company is utilizing its technology portfolio to maximize yield and profitability through Radical Clean Solutions (RCS) devices, which reduce spoilage and greenhouse gas emissions [5] - Awaken Grains flour™ is being developed with significant nutritional advantages, including five times the fiber and three times the protein compared to generic flour [6] Vision and Future Initiatives - AgriFORCE aims to empower farmers to become Carbon Credit developers through sustainable practices and technology [7] - The company plans to develop and acquire technology for managing Carbon Credits and Renewable Energy Credits, providing financial freedom to farmers [11] Management Changes - Recent changes in senior management include the appointment of David Welch as Chairman and Jolie Kahn as CEO, along with the addition of consultants with expertise in AgTech [8][10] - The leadership team brings valuable experience in agricultural technology and regulatory landscapes, which is crucial for the company's success [9][10] Commitment to Innovation - The company is diving into environmental credit farming to bolster its portfolio and pioneer foundational systems for the agricultural sector [12] - AgriFORCE expresses gratitude to shareholders for their support and emphasizes the potential for innovative success moving forward [12]