A lone Atlanta businessman stepped up to a podium Monday afternoon and welcomed indoor football back to Augusta.
"I represent a group comprised of former NFL players, current NFL players and businessmen like myself," Erick Moore said. "We're not going to deal with or worry about the past. I really do see a bright future with the Colts."
The Augusta Colts, who voluntarily sat out the 2009 season after the inaugural 2008 campaign left the team financially strapped, returned to active status Monday and will field a team for 2010, Moore said.
Moore introduced himself as a representative of Progressive Sports Entertainment, an ownership group based in Houston that purchased the controlling interest in the team from former owner John Sisson.
Moore said the ownership group is comprised of seven out- of-town investors who wish to remain anonymous, but he identified his brother-in-law, Seattle Seahawks linebacker and Clemson product Leroy Hill Jr., as part of the group.
"Some didn't want their names out there," Moore said. "But they liked Augusta because the infrastructure is already here, and I really like the situation here. I like the idea of what the team was trying to do in the community."
Sisson, who will remain general manager, and Moore declined to give details on the sale of the team.
"In dollars it wouldn't make sense if I tried to explain it," Sisson said. "I did lose money. It was not lucrative for me, but my only real intent was to keep the team going long enough for someone else who could afford it to buy it. That's what happened."
Moore said Progressive Sports now owns 51 percent of the team, and the remainder will be owned by local investors whose identity Moore declined to reveal.
"We'll disclose that within the next two weeks," he said. "They're led by a well-respected businessman here. We're just trying to make sure everything is official."
Moore said the purchase of a minor league team was the first of its kind for the investment group, and he expects the move to yield profits soon.
"Without a doubt, it can make money. Developing a business model is strictly a cookie-cutter process. There are no secrets," he said. "If we get at least 2,800 (fans) a game, we'll break even. But I think Augusta can do much better than that."
Sisson said the team still doesn't have a lease worked out to play at James Brown Arena. Arena general manager Monty Jones said he expects a deal to be "finalized within the next week or two."
Sisson said the team will switch from the American Indoor Football Association to the Southern Indoor Football League. Tom Hager, the owner of a SIFL team and the league's president, said the SIFL, beginning its second year of operation, will field 10 teams and begin play in late March. Each team will play a 12-game schedule.
Cannabis has gone mainstream and is here to stay. Out of the 50 states, 35 have legalized marijuana at some level.
This historic legalization has led to the birth of thousands of cannabis companies, and thus, a new type of investment fund. Cannabis investment funds focus on finding companies to invest in that are set to shake up the marijuana industry.
Founder-friendly investors are firms that create a working environment with an existing founder and management. These firms know a founder can be an asset, opposed to pushing one out after purchasing a company.
Here are 14 Founder Friendly Investors in the Cannabis Space:
Arcadian is a venture capital firm based in Los Angeles. Matthew Nordgren, a former University of Texas football player, founded Arcadian in 2017. Nordgren brought valuable experience from building a VC firm focused on sports and entertainment. Arcadian has investments in innovative cannabis companies like Akerna, Fyllo and Skylight Health.
Casa Verde was founded in 2015 by rap legend Snoop Dogg. The firm finds and guides exciting companies in cannabis. Casa Verde has companies such as Surfside, Leaflink and Dutchie in its portfolio.
CB1 specializes in cannabinoid wellness solutions, products and therapies. Todd Harrison, touting experience from Morgan Stanley, founded CB1 after recognizing a strong opportunity in the CBD space. CB1 has a highly-connected network of researchers and advisors, including former presidential candidate Gary Johnson on its advisory board.
Esteemed cannabis investor Matt Hawkins founded Entourage Effect Capital back in 2014. The firm is named after an effect in cannabis and CBD that refers to the way in which hundreds of molecules interact and cooperate with each other to give CBD its healing attributes. Entourage Effect Capital has invested in companies like Ebbu, Acres and Urban Leaf.
FocusGrowth is, you guessed it, focused on finding companies with strong growth potential. Led by an impressive group of executives, FocusGrowth is able to help propel companies to the next level.
Gron, a California-based investment fund, led an investment round for Dutchie in September 2019. Today, Dutchie is the most valuable cannabis tech company after a $350 million capital raise.
JW is named after its founder, Jason Wild. With vast experience in the financial markets, Wild got his start by finding high-growth biotech companies. Today, JW Asset Management has more than $1 billion in assets under management. Because of Wild’s background, JW Asset is able to leverage its experience and network to work with innovative companies in the cannabis and healthcare sector.
Koach Capital is a real estate investment firm that helps find opportune locations to open retail cannabis stores. Koach owns properties in Michigan, Florida, Illinois and Virginia. Koach diligently vets its potential locations, making sure that they'll provide a strong investment opportunity.
Based in San Francisco, Liquid2 is an early-stage investment firm that finds companies to acquire and guide. Rather than replacing a management team, Liquid2 specializes in working with founders and management teams to aid the company's growth. In July, Liquid2 invested in Nabis, California’s leading cannabis distributor. Liquid2 also invested in HERB, a highly successful cannabis technology company.
Measure 8 VP was founded in 2016 by Boris Jordan and Justin Ort. According to Pitchbook, Measure 8 has invested in Algea Care, Grassroots and Baker.
Merida Capital is an alternative investment firm focusing on private equity, real estate and venture capital. In September, Meridia Capital helped Skymint expand its footprint with the acquisition of 3Fifteen Cannabis.
Founded in 2014, Poseidon has nearly eight years of experience in the cannabis investing space. Back in 2016, Poseidon invested in PAX which was later valued at more than a billion dollars in 2019. Poseidon launched its own cannabis ETF with AdvisorShares, the AdvisorShares Poseidon Dynamic Cannabis ETF. Holdings include Scotts Miracle-Gro Company (NYSE:SMG) and Grow Generation Corp (NASDAQ:GRWG).
Thirty5 is the second investment firm on this list founded by a superstar: Kevin Durant. Durant’s jersey number has been 35 throughout his entire career - first in Oklahoma City, then with the Warriors and now in Brooklyn. Thirty5 has a wide range of companies in its portfolio including Coinbase, Postmates and OpenSea. Thirty5 was also an investor in Dutchie.
Founded in 2014 by Scott Greiper, Viridian is one of the most experienced strategic advisory firms in the United States. Viridian has invested in cannabis companies like 365 Cannabis, Norcal Cannabis Company and Conception. To date, the Viridian team has closed about $250 million in financings.
Bitcoin has surpassed the $15,000 milestone, growing by more than $1,000 per week throughout the tail end of 2017. In light of this phenomenon, Capital.com looks at four ways to invest in cryptocurrencies
Cryptocurrencies are based on blockchain, a decentralised, distributed, public ledger payments technology. Should blockchain prove to be as efficient, scalable and secure as its advocates claim, it could seriously disrupt the legacy payment systems currently operated by banks, much in the same way the internet disrupted traditional media, communication and advertising.
The central idea of blockchain is that previously powerful intermediaries become redundant in making transactions and deals. As a result, it’s no longer necessary to use a bank or other payment service provider to transfer funds. Instead, both companies and individuals can trade in cryptocurrencies, bypassing the traditional route altogether for a system that is more efficient, and arguably safer too.
Today, there are four principal ways to invest in the cryptocurrencies that are growing in popularity with each passing quarter. Here, we take a look at each option:
Many cryptocurrencies work on the ‘proof-of-work’ principle. This means they need miners that can verify cryptocurrency transactions on their cryptocurrency networks.
Acquiring the necessary experience and knowledge can see miners earn a regular income in bitcoin – or, indeed, any other cryptocurrency
To start mining, you need to acquire hardware with high-performance processors capable of making the necessary calculations. When choosing hardware, pay attention to issues such as performance, price and electricity consumption. It is also possible to mine using cloud mining pools.
It is not easy to start mining from scratch, but acquiring the necessary experience and knowledge can see miners earn a regular income in bitcoin – or, indeed, any other cryptocurrency.
2. Initial Coin Offerings
Initial Coin Offerings (ICO) sound similar to the Initial Public Offerings (IPOs) of company shares, but they are markedly different. Unlike an IPO, an ICO offers no legal rights or claims to underlying assets.
With an IPO, an investor either has part ownership in a company through shareholdings or they can buy coins, which can appreciate in value should the business prove successful.
However, due to the fact projects funded through ICOs are typically early-stage start-ups, many of them have no minimum viable product. This means there is always a high risk the company will fail and investors will lose their money. Additionally, as ICOs are not regulated, there is no redress if money has been unwittingly lent to a fraudulent business.
Nevertheless, ICOs have attracted a lot of money (over $3bn) through 234 issues in 2017 to date, according to coinschedule.com.
3. Trading on cryptocurrency markets
To start trading you need to choose a crypto market, of which there are many all over the world. Equipped with a crypto wallet, participants can buy and sell real cryptocurrencies.
Buying, holding and then selling to crystallise a profit is a similar principle to investing in shares or commodities. However, trading cryptocurrencies involves risks that are not always associated with traditional asset classes; many crypto markets are located in risky jurisdictions, with no regulator to control them and guarantee trader rights. Ultimately, it’s just as possible to lose money trading, as it is to make a profit.
While no one can ever predict market price movements, many people claim there is huge potential for each bitcoin to be worth $100,000 or even more. One of the reasons, they say, is the limited supply, though the recent ‘forking’ of bitcoin to create bitcoin cash slightly undermines confidence this will remain so.
If the rules are to be believed, there can only ever be 21 million true bitcoins, out of which nearly 20 percent are dead bitcoins – or, in other words, they are trapped in lost crypto wallets.
Others say bitcoin has all the signs of a classic bubble, comparing it with silver in the 1980s, dotcom stocks in the late 1990s or tulip mania in Holland in the 1630s. Throughout the centuries, investors have seen markets crash spectacularly as a speculative bubble bursts.
Many claim there is huge potential for each bitcoin to be worth $100,000 or even more
There is little doubt cryptocurrencies are unusually risky compared with more traditional asset classes. For one thing, they are always susceptible to hacking. When the now defunct Mt Gox exchange was hacked in 2014, for example, around 850,000 bitcoins went missing.
The decentralised nature of cryptocurrency can thus be a curse, as well as a blessing.
4. Trading cryptocurrencies using CFDs
When trading contracts for difference (CFDs), you don’t own the cryptocurrency itself, but you can still trade it as prices change, and go either short or long.
Going long means first buying at one price and later selling for a higher price, benefitting from the price increase. Going short, on the other hand, enables investors to benefit from falling prices. First by selling at one price, then closing the circle of the deal, and ultimately making a profit by buying later at a lower price – this can be done using CFDs.
Many brokers provide the opportunity to trade CFDs on cryptocurrencies, but it is important that investors choose a regulated broker. For instance, Capital.com, a CySEC-regulated broker, offers trading in bitcoin, Litecoin, Ethereum and Ripple.
Capital.com is known for having an easy-to-use, intuitive interface platform that is available on desktop, IOS and Android. All that is needed to join the cryptocurrency world is a smartphone.
Capital.com provides leverage for cryptocurrencies of up to 1:5. This means buying CFDs for one bitcoin enables you to trade five bitcoins. Moreover, you can open a position on bitcoin for as little as $20, with trading starting from BTC 0.01. Tight spreads and the absence of trading commissions are also a big plus.
You must remember, however, that you trade at your own risk, as you could lose all of your invested capital once you begin trading. So we will finish with one final tip that is as applicable to cryptocurrency as it is to other assets: do not, under any circumstances, trade with money you cannot afford to lose.
Eagle Ford Oil and Gas Corp. (OTC Markets: ECCE) said Monday it has received a $22 million letter of commitment from San Francisco-based financial adviser and fund manager EM Capital Management LLC.
The Houston oil and gas exploration and production company said it plans to use the funding to drill three to four wells in the development and exploration of oil and gas assets south of San Antonio in Frio County, where the company acquired an 85 percent working interest in more than 3,600 acres.
That development acreage is known as the East Pearsall Project, the company said in a statement.
EM Capital Management is a division of investment manager EMCH Investment Corp.
Eagle Ford Oil and Gas bought the acreage in the Eagle Ford Shale oil and gas play last July. The year prior to that, the company acquired Sandstone Energy LLC in exchange for 17.8 million shares of common stock.
HOUSTON, April 15, 2013 (GLOBE NEWSWIRE) -- Eagle Ford Oil & Gas Corp. (OTCMarkets:ECCE), a growing independent oil and gas exploration and production company, has received and executed a formal letter of commitment from EM Capital Management, a division of EMCH Investment Corporation.
The binding letter of commitment would provide funding in the amount of $22 million to be used in the initial phase of the development and exploitation of oil and gas assets in the Company's acreage in Frio County, Texas known as the East Pearsall Project.
As previously announced, the Company has leased a total of 3,684 acres located in Frio County, Texas. The Company has an 85% working interest and is the operator. The acreage lies within the historic Pearsall Field and features three formations which are highly productive in the area, the Austin Chalk, Eagle Ford Shale and Buda Lime, all of which are primarily black oil reservoirs. The Company has rights to all formations and all depths including the deeper Pearsall Shale, a condensate rich gas reservoir. Fields surrounding this acreage are currently producing from all three formations with estimated ultimate recovery of between 120,000 and 500,000 barrels of oil per well. Operators in this surrounding acreage have an apparent 100% success rate in the three formations. Based on nominal 160 acre spacing, the Company would have more than 20 well locations for each reservoir.
EMCH Investment Corporation is a privately held investment holding corporation that invests in growth and startup companies in oil and gas, transportation, hospitality, food service, agriculture, manufacturing, distribution, real estate and financial services.
Mr. Paul Williams, CEO of Eagle Ford Oil and Gas said, "We are obviously excited about executing this letter of commitment, we have been actively searching for the financing that will allow us to effectively begin development of our East Pearsall Project in a manner that if most beneficial to our shareholders. This financing allows us to drill our first three to four wells on the acreage and establish production, cash flow and reserves and make this acreage the cornerstone for Eagle Ford Oil and Gas."
Mr. Erick Moore, Managing Partner of EM Capital said; "We are very excited about this opportunity, Eagle Ford Oil & Gas represents the kind of company we want to partner with, an excellent management team that includes some of the industry's leading technical experts. Combine this with their East Pearsall Project which holds incredible potential based on well results from operators in surrounding acreage and you have a startup company with incredible near term growth potential."
About Eagle Ford Oil & Gas Corporation
Eagle Ford Oil & Gas Corp. engages in exploration and development of oil and gas production properties. The Company specializes in acquiring, exploring and developing oil and gas producing assets in the Gulf Coast region of Texas and Louisiana. Eagle Ford Oil & Gas has a team comprised of senior professionals with distinguished records of achievement and success in the targeted focus area.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of ECCE officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future ECCE actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and ECCE has no specific intention to update these statements.
Investor Contact: Brad Holmes Energy Ir (713)654-4009
Erick R. Moore/ Managing Partner
2870 Peachtree Rd. Suite 481
Atlanta, Georgia 30305