Fusion Pharm Inc (OTC:FSPM)

From 2013 10K:

In connection with the finalization of our 2013 financial statements, we have restated our 2012 financial
statements to reverse $500,000 of the $750,000 in revenue that was recognized during 2012 for the
previously reported exclusive licensing arrangement with VertiFresh LLC (“VertiFresh”) for the use of
PharmPods growing technologies for agricultural products. The restatement was based on reevaluating the
arrangement with VertiFresh which required $250,000 be paid during 2012 for the licensing of the Colorado
territory (on a nonrefundable basis), and the remaining $500,000 to be due in equal installments of $250,000
during 2013 and 2014 for the rights to two additional territories. The initial $250,000 was paid during 2012
and was reflected as earned revenue. The remaining $500,000 was set up as an accounts receivable and was
reflected as earned revenue in error under US GAAP as the formal agreement was never finalized the
amounts due were for future territories and therefore not earned during 2012 and collection of this amount
was never reasonably assured given the startup nature of VertiFresh. No further payments are anticipated.

Backlog from 2013 10K

As of December 31,2013 we had $804,548 of signed contracts under construction and had received$362,995 in deposits for the same. This represents a total of 30 PharmPod containers.As described in our Significant Accounting Policies, in accordance with U.S. GAAP, the Comp any recognizes revenue when pods are delivered, as such, revenue for these sales will be reflected in subsequent financial statements.

Denver, March 27, 2014 (GLOBE NEWSWIRE) -- FusionPharm, Inc (FSPM) the Denver based manufacturer of the PharmPods™ cultivation system (www.pharmpods.com) is pleased to announce that it is set to ship it's second Canadian order of 2014, beginning Friday, March 28.  The initial order of approximately $270,000 worth of PharmPod containers is the first installment of an anticipated $2.3million, 12 month build-out of the Canadian facility.

"The Canadian market has become our largest customer base so far in 2014 and we are excited to build the PharmPod brand in Canada and elsewhere." commented FusionPharm CEO Scott Dittman.

FusionPharm is currently exploring sales and distribution partnership opportunities in Canada and intends to open a sales center in Canada in 2014.

Denver, Colorado, Feb. 25, 2014 (GLOBE NEWSWIRE) -- FusionPharm, Inc. (OTC: FSPM), manufacturer of the PharmPod™ (www.pharmpods.com) professional cultivation system, is pleased to announce that it has completed a $1million round of equity funding.  Management intends to use the funds to complete outfitting of its recently expanded manufacturing facilities, provide for construction of new sales centers in key markets and to provide operations funding for acquisition of key personnel.

The Company is a development stage company focused on funding the development and commercialization of its patent pending PharmPods cultivation container system and piloting its first PharmPlex cultivation center in Denver, Colorado.

We plan to fund our plan through a combination of debt and equity financing, including offering for sale to accredited investors up to 2,000,000 units of equity interest in the Company, each unit consisting of one (3) shares of common stock and two (2) Class A Warrant at a purchase price of $.75 per unit (the “Offering”). We hope to receive at least $2,000,000 in net proceeds from this Offering. We believe we can satisfy our cash requirements for the next 12 months from the proceeds of the Offering. The purpose of the offering is to finance sales of PharmPods into the market, thereby significantly increasing revenues and the company’s cash position. We believe that, if successful, the Offering will provide us with sufficient capital to fund our operations through a cash flow positive position. Our immediate intention is to complete our capital