Bashing silly penny stocks
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Diamond CBD Apparently Sells Adulterated Products
https://norml.org/news/2018/12/13/psychoactive-adulterants-identified-in-some-liquid-cbd-products
A team of researchers from Virginia Commonwealth University evaluated the content of nine commercially available CBD e-liquid products obtained from a single manufacturer, Diamond CBD. The products were advertised as being "100 percent natural CBD extracts."
In addition to containing CBD, two of the nine products also contained THC. Four products contained the synthetic cannabinoid agonist 5F-ADB, a schedule I controlled substance that has also been identified in 'Spice' and other so-called herbal cannabis products. One product contained dextromethorphan (DXM), a cough suppressant.
Thanks. It was pretty good!
I hope that shareholders are able to recover from Mezey and that he goes to jail, though this is not likely. As I posted previously, he took the money and bought himself a fancy house in Florida, and he also bought a sports car. This guy is a sociopath, and I am surprised that anyone could not know it would end up badly. Seriously, who would ever trust a disbarred lawyer with a name change?
The company has literally never reported a penny of revenue from cannabis. What a scam - all those press releases last year
Thanks. You can lead a horse to water, but you can't make him drink.
That sure took longer than I expected...
This is too funny!
PotNetwork Holdings, Inc. Withdraws Form 10 due to Unrelated PCAOB Action Against Its Auditor – Refiling Planned
FT LAUDERDALE, Fla., July 22, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE ?--? PotNetwork Holdings, Inc. (OTC Pink:POTN) announced today that the Company on July 20th filed a request with the Securities and Exchange Commission (“SEC”) for the SEC to issue an order to allow the Company to withdraw its Form 10 Registration Statement and its exhibits filed on July 13th (collectively, the “Registration Statement”). The Company plans to file a revised Registration Statement as quickly as possible.
The Company made the request after being informed by its auditing firm, East-West Accounting Services, LLC, Princeton, Florida, that it had lost its PCAOB certification as a result of a PCAOB disciplinary order specific to deficiencies in an audit conducted in 2015 for an unrelated Dallas, Texas company.
The withdrawal request was not the result of any discovery of accounting or other irregularities or issues with the Company’s filed Registration Statement. A new PCAOB member accounting firm will be announced the week of July 23rd to re-certify the Company’s audited financial statements to be included in a new Form 10 filing.
About Diamond CBD Inc.: Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holdings, Inc: PotNetwork Holdings, Inc. (OTC Pink:POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils.
I think that one of the children of the accountant at East West is to blame :)
Seethru is a joke in my view, and they cover mainly OTC not NASDAQ. Their coverage list in cannabis has seen massive declines, and the names stink. Literally every single name is bogus.
You are correct that they initially got POTN right when they initiated coverage a year ago, but I count 6 of the 7 as completely wrong. As they say, even the blind squirrel finds the occasional nut.
With POTN, they got it right initially, as I said, but they doubled down and blew it. They raised the target to 1.25 when the stock was near its all-time high (it closed at .74 on 1/29 and they issued this report on 1/30)
http://www.seethruequity.com/wp-content/uploads/2018/01/POTN-UPDATE-JAN-30-2018-FINAL.pdf
The stock has lost more than half of its value since then...
Their peers generate positive cash flow
Not sure why your acting like 600k - 1.2m burn is all that high
The company apparently burns cash. Are you using a higher share-count for the future when you do your valuation?
The share-count has done nothing but soar...
If the company were going to sell itself, those shares would be converted and figured into the price. They represent economic value, and one would be foolish to ignore them in my view. I didn't say that they are going to convert them immediately. I said what is true: The fully diluted share-count is at least 835 million. The company, when it reported EPS, made an error. It should include these.
Common shares aren't the only aspect of a company. Prudent investors take the time to understand the entire capital structure, including debt, preferred shares, options and warrants.
You are wrong on the share-count. The filing very clearly states the common shares outstanding and the number of preferred shares.
https://www.sec.gov/Archives/edgar/data/1746563/000147793218003494/0001477932-18-003494-index.htm
As of July 9, 2018, we had 464,921,254 common shares outstanding.
As of July 9, 2018 we had 44,227 shares of Class A Preferred Stock issued and outstanding. Each share of Class A preferred stock is convertible into 0.0018% of the total number of outstanding shares of common stock at the time of conversion. Class A Preferred Stock shall be entitled to a number of votes equal to the sum obtained by using the following quotient: (x) the sum of all outstanding shares of common stock, plus the sum of the number of votes of all other outstanding shares of stock, including any preferred stock that may be outstanding, plus the sum of the votes of all other financial instruments outstanding which may be entitled to vote on any such matter, divided by (y) 0.9. Class A shareholders are not entitled to dividends paid to common shareholders and are not entitled to any assets of the Company upon liquidation.
I left my position at an investment management firm in 2006. I have never invested in or shorted a cannabis stock.
I already said in my prior post:
We didn't invest in silly penny stocks ever!
This is total b.s.
If you do some research on this gentleman, I believe you will find at one time where he was promoting UTRM I believe. So maybe and I do not know this for fact or not, but maybe he got burned when they did the reverse split back when under the UTRM name and is now seeking retribution. Who knows.
If you dig deeper, you will find where it says that at one time, Alan was a manager of an investment fund. So who knows if he did get burned back then when UTRM did the reverse split which might have cost him money.
I think I later posted that this is not Valerie.
Registration statement is effective
Notice of Effectiveness:
https://backend.otcmarkets.com/otcapi/company/sec-filings/12742640/content/html
Amended S-1:
https://backend.otcmarkets.com/otcapi/company/sec-filings/12711852/content/html
This prospectus relates to the resale of up to 93,522,930 shares of common stock of Players Network, a Nevada corporation, of which up to 75,400,000 shares may be resold by Kodiak Capital Group, LLC, or Kodiak, including 37,500,000 shares of common stock which are issuable pursuant to an equity financing facility established by the terms of the Purchase Agreement described in this prospectus. In addition, we are registering 400,000 shares of common stock issued to Kodiak in consideration of entering into the Purchase Agreement with us, 37,500,000 shares of common stock that Kodiak may acquire upon exercise of a warrant we issued to Kodiak under the Purchase Agreement, and 18,122,930 shares of common stock that may be acquired by other stockholders of ours upon exercise of warrants and conversion of notes. We may draw on the equity financing facility from time to time, as and when we determine appropriate in accordance with the terms and conditions of the Purchase Agreement, by delivering “put notices” to Kodiak.
Why would anyone care for a perennial penny stock clown who has delivered shareholders years (decades) of misery? Nothing personal about that! They misled shareholders around the timing of sales in Nevada. Liars.
BRADLEY IS A LIAR
This company purported to have made a strategic buy of cannabis on or before June 30th to have product for sale when Nevada legalized.
First, the inventory wasn't on the June 10-Q balance sheet
Second, the sales for Q3 were only $38K.
Betting on a loser like Bradley is rarely a good bet.
No one knows what, if anything, these idiots will get. The press release today was incredibly lame compared to the bullish sounding email they sent out (I will be sending these to the SEC).
The company flat out lied. The sales don't match what they said regarding their purchase of inventory (which wasn't on their balance sheet last quarter). This idiot has lied and put it in black and white in SEC filings. The numbers don't add up.
WRONG
PNTV is sitting on over 1 MM dollars
worth of buds and rosin.
These morons are failing badly! $38K in sales in the quarter that Nevada went legal??? They bragged about their smart inventorying of product to take advantage of a shortage, LMFAO.
They also defaulted on several debt issues. Mark Bradley should resign and take a job shining shoes or something more suited to his skills.
Item 3. Defaults Upon Senior Securities
On November 3, 2017, the SK L-58, LLC Note in the principal amount of $50,000 became due and payable and went into default. As a result, the Company is required issue to lender warrants to acquire one million shares at an exercise price of $0.05 per share every 30 days the note is unpaid. Each warrant is exercisable for the four (4) complete calendar month period beginning on the first day of the thirty second (32 nd ) month following the event of default. As of November 20, 2017, a total of $50,425, consisting of $50,000 of principal and $425 of interest, was outstanding under this Note.
On July 28, 2017, the First EJR Note in the principal amount of $35,000 that originated on July 28, 2016 went into default. The note is convertible into common stock, and the note holder has not yet demanded payment, or elected to convert the debt into stock. As of November 20, 2017, a total of $38,673, consisting of $35,000 of principal and $3,173 of interest, was outstanding under this Note.
On July 20, 2017, a promissory note went into default and the default provisions called for the automatic conversion into shares of common stock at a conversion rate of $0.04 per share, along with the issuance of the same number of warrants, exercisable at $0.08 per share. The warrants vest on April 30, 2019, and are exercisable for 4 months thereafter. Pursuant to the conversion, the note holders received an aggregate 632,706 shares in satisfaction of $25,000 of principal and $308 of interest on the debt.
On July 5, 2017, a promissory note went into default and the default provisions called for the automatic conversion into shares of common stock at a conversion rate of $0.04 per share, along with the issuance of the same number of warrants, exercisable at $0.08 per share. The warrants vest on April 30, 2019, and are exercisable for 4 months thereafter. Pursuant to the conversion, the note holder received 1,265,411 shares in satisfaction of $50,000 of principal and $616 of interest on the debt.
On October 24, 2014, LG Capital Funding submitted a conversion request to convert $10,000 of principal on the Second LG Note, which the Company has asserted is inconsistent with the conversion terms as stated in the convertible promissory note. The Company requested that the conversion notice be corrected and resubmitted, at which time the note holder contended the conversion terms were intended to be based on 55% of the lowest closing bid price over the preceding twelve trading days, as opposed to the stated 55% of the average of the lowest closing bid price of the Common Stock over the preceding twelve trading days. The conversion terms of this Note are the subject of a legal dispute between the Company and LG Capital Funding pending in the Supreme Court of the State of New York, Kings County. On October 31, 2014, the note holder sent demand for repayment on the Second LG Note, consisting of $35,000 of principal and $8,214 of accrued interest outstanding as of September 30, 2017. As a result, we are in default on this convertible promissory note. The note carries an 18% default interest rate and a penalty of $250 per day that the shares are not issued, beginning on the 4th day after the conversion notice was delivered to the Company. This penalty increased to $500 per day beginning on the 10th day after the conversion notice was delivered to the Company. As of November 20, 2017, a total of $44,964, consisting of $35,000 of principal and $9,964 of interest, was outstanding under this Note.
SIGO doesn't own any of the plants, equipment or property. SIGO is just a service provider. Can't wait to show how this works when they finally report revenue in an SEC filing, the 10-K, which is due in late January (with extension possible to mid-Feb). Tick-tock! Time running out on the scammers
SIGO will vanish towards .10 or lower.
The company is a fraud that has been outed, and the slimy guy behind it who cashed in all those free shares for a house in Florida is trying to figure out how to keep the well flowing. They are running around like chickens with their heads cut off in every direction. The way the wind blows is all that seems to matter.
The chart is absolutely terrible. Volume has totally dried up.
It already fell (briefly) to the .35-.40 zone I predicted. Buckle up for the next downdraft: .25-.30
This looks really bad to me with TJ stepping aside/down/away. He was their "grow guy" but no longer. I warned him personally that he was dealing with the devil.
BMG - Battle Mountain Genetics (not Baugher, Magallanes, G).
I continue to think SIGO is dead meat. The market has had a huge bounce over the past week or so, and SIGO needs some Cialis fast.
RIP, Llamas.
Lamborghini driver killed in crash was medical marijuana millionaire
http://www.cbs8.com/story/36778607/lamborghini-driver-killed-in-crash-was-medical-marijuana-millionaire
"Those who cannot remember the past are condemned to repeat it."
George Santayana
Joseph Wade Mezey has left a trail of tears and blood on the OTC. Sadly, many don't do the simple DD necessary to protect themselves from being scammed by him.
Congrats to all who saw the obvious signs and bailed this sinking ship
They can't abandon the S-1 if they want to raise more money, unless they want to go all-out toxic financing. Good luck with that. The company would be lucky to find buyers for the remaining 19mm shares at ten cents and should sell as fast as they can in my view, because this is worthless
The company bragged about no debt and then ended up with over $400K debt. Anyone that understands the OTC and especially the scammer running this one, Joseph Wade Mezey, would expect this to end up being toxic. Just watch...
LMFAO at the "no toxic debt". Pay attention, folks! You are beholden to notorious stock scammer Joseph Wade, the king of toxic debt. Just because you don't know the terms yet doesn't mean it isn't toxic. Watch and learn!
This scam was very easy to see. It's not clear why Wade incriminated himself on multiple occasions. He is really not that clever!
Unreal - 165 shares have traded in the first 90 minutes. Fake company and totally inflated stock. Soon to be deflated investors.
The scammers have been exposed, and investors here will lose EVERYTHING. This is a worthless pump and dump - the company has no assets and now a lot of debt. They have let their investors believe that they are something which they are not.
The volume has totally dropped off and Joseph Wade seems to have shut down the flow of lies that was driving unwitting investors into the stock of this fraudulent scheme. The filings at his other company confirm that they bought all 640K shares at 10 cents (and presumably the 200K sold subsequently). I feel badly for those who bought into this:
The stock did hit my .35-.40 already and will do so again (on the way to zero).
LOL. Wade IS SIGO. Investors in this turd will be wiped out. He moved to Florida and bought a fancy house with your money, folks. If you don't care about what is left, just hang on, as this is going all the way down. Have fun!
Yeah! The Joseph Wade Book. Do you have a copy? It's all about lying and cheating.
Thanks for the laugh! SIGO IS TOTAL CRAP. Like I said, they will be lucky to avoid jail time after the federal securities laws violations. At least the investors won't go to prison - they will just lose their entire investment.
Yeah, right. SIGO is a total scam. Not sure why anyone would waste their time. The company never followed up on their announcement that they were hosting this original tour. Seems like b.s. to me. Who cares though - this stock is toast. Sad to see all the bagholders.
SIGO SCAM STUCK IN THE MUD
There was no tour yesterday, and the scammers here seem to have pretty much given up. They will be lucky to avoid federal prison in my view. Idiots, too, as they totally proved their criminal ways in black and white. No 8-Ks in almost 4 weeks - even they know when the gig is up. Sorry for anyone stuck in this piece of crap stock...
There is no toxic debt driving this - it's warrants. If they had just stuck to GLF, perhaps all would be well in PNTV-land, but, as you realize, they overstepped. It's so basic - get one thing right and then extend. I have been criticizing this idea for a long time. It's a bad idea in my view, but one for which the company doesn't have the resources in any event.