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Looks like it is finally the end of the line for Tobias and the rest of the crooked crew, Sadia Barrameda, et al, though they got away with a lot of lucre, first.
Things have just never been the same from this stock since the company got cheap and quit paid promotion
Q2 revenues of $721K? Don't tell me David Tobias not only kept out of jail, but might have actually stumbled on to a real business and pandemic play with online pot sales?
Fun's over. This might be -30% tomorrow. The announcements about COM2 and COM1 really weren't very important, and there are no more catalysts in the foreseeable future. It's back to just burning cash with no end in sight since everything they have is super early.
wow, down another -12% today, and market cap is down to $11M.
The possibilities
1) their penny stock promotion machine broke
2) Tobias, Gravel, et al are finally going to jail
3) They've finally taken enough money out of gullible investors by selling worthless stock in a company with no assets for many years
That said, Tobias and this crew should still go to jail!
Reality has finally caught up with David Tobias, Sadia Barrameda and all the other crooks who run this p.o.s. I don't know how this never bothered the SEC but it looks like people are through with them.
Interesting. Maybe Tobias is finally going to jail with Gravel and Barrameda for running this stock pumping scheme for years? They have taken millions and millions out of this.
Who, Tobias and Sadia Barrameda are not in jail yet for running this stock manipulation schtick? This company has almost no revenues and no assets, and been that way for years. Think about that.
What price action! Are David Tobias and Sadia Barrameda finally going to jail for stock manipulation?
The pumpers have been curiously silent. Busted, maybe?
hey hey! So it took forever, but this manipulated stock has finally started moving to what it's really worth (nothing). Hopefully, Tobias, Barrameda, et al will also have to disgorge profits. This was an obviously manipulated stock last year. Maybe someone finally put a stop to some of it manipulation, and this is what happened.
No way, the stock is trading more like its fundamentals suggest (it's basically a fraud). There needs to be real justice, like Tobias/Sadia/whomever else being forced to puke up all the illicit profits from stock manipulation.
because scams where shady people make millions illegally deserve to be brought to light.
The only problem was that it took a heck of a long time for this to finally break. But at least the SEC is moving. There are still plenty of other marijuana companies with the same "business model" like CBDS.
The SEC just nailed a company that looks a lot like CBDS. They charged that Medbox didn't have a real business but just sold stock and pretended it was revenue, to make it look like they had a legit business. So they are completely blind, after all. The CEO, Vincent Mehdizadeh, whose past is shady as Tobias', is brazen, too, saying “the only thing we are really good at is public company publicity and stock awareness. We get an A+ for creating revenue off sheer will but that won’t continue.”
So I wouldn't be surprised if CBDS's business plan is the same. Pump up your stock in the pot frenzy, sell as much as possible, and hope to still be net positive after paying off the SEC and lawsuits.
Completely shady!
Isn't CBDS exactly square in the area that attorney general Jeff Sessions/Trump will be targeting, i.e. recreational marijuana? In other news, no one seems to have said anything about the CFO leaving a few weeks ago. She was richly compensated with shares before that, though nothing like David Tobias who has been a selling machine. I love the recent 8K filed that says basically that CBDS did not review any of its accounting policies with its new accountant.
They obviously aren't real buyers, they are probably part of a big group of pump and dump scammers who post a lot and write articles to try to move stock prices. And now the rooster is coming home to roost for CNBX.
Yup. It's a total scam, and has always been so I don't expect the fact that it's going to report basically no sales or real business activity, and assets below it's liabilities is moving the stock.
Saw on Seeking Alpha that another pot stock, CNBX, is under regulatory scrutiny, and that stock is tanking, so maybe people are worried that the SEC is finally going to pull the rug out from these fraudsters.
Is the stock reacting to new attorney general and anti-marijuana crusader Jeff Sessions' confirmation, falling because investors are realizing the company is a scam, or falling just because it's falling and the pump and dump manipulators are in dump mode?
David Tobias just granted himself $790,000 of shares a few days ago.
WTF!
$50M offering filed on January 9th.
There's a huge dilutive offering coming.
That's right Mike, sell while the getting is good!
Cannabis Sativa's CEO Gravel Sells Shares, Cuts Stake 34%
Cannabis Sativa Inc. Chief Executive Officer Mike Gravel sold
$448,652 of shares, according to a filing with the U.S.
Securities & Exchange Commission.
Yup. Tobias just sold 45,000 shares in the last days of December.
A cool $250K or so to reward himself for having done so much.
You take those ill-gotten gains! Why not. The regulators are apparently not going to put a bunch of old guys in the slammer.
All marijuana stocks are tanking, across the board.
Terratech, Cannagrow, Cannabis Science, American Green, all crashing. Maybe this is the end of the marijuana pump and dump for this year.
Other marijuana stocks correcting sharply. CANN, MJNA, CGRW, CBIS, etc... are all headed down sharply. It looks like the pumpers and dumpers have a particular axe in CBDS for some reason.
Earnings coming out next Tuesday, November 8.
This may put the nail in the coffin of this 7-bagger.
Oil is going down, and so is REN. Considering it's still up >500% for the year, it still has some room to go down.
How low can this go? Well, just think about what the assets and sales of this company actually are - just a few thousand dollars,
and the debt exceeds the amount of assets they have. The value of this company, if it's even a positive number, is less than $1M. That translates into about 0.05/share.
With current valuation at $100M, the possibility it loses >90% is pretty good.
Sadia Barrameda has been selling pretty consistently since the beginning of the month according to the SEC Form 4s, but the two employees (yes, the only two) have not, even though the stock is double what they last sold at. Weird. Maybe they are being prevented from selling?
Anybody else find it strange that there haven't been any SEC Form 4s showing insider selling lately, despite the massive gain since the last one on Oct 4?
It's not just CBIS. It seems basically marijuana stocks are being pumped right now - CBDS, ERBB, CANN, CNAB, you name it, it's up big-time today.
What promoters have been pushing these things this past week?
What else is interesting to trade with the same dynamics as the marijuana stock business? This trade may be over after the election.
or how much they want to press their luck!
Sadia Barrameda is worth >$50 million now, and David Tobias is worth >$25 million. They are both thinking, "what a country!"
Any other new millionaires here?
yeah, no market manipulation here. What do you think happened?
Someone engineered a short squeeze by recalling shares?
I wonder if we are somewhere near the end of the pump and dump?
Why is no one talking about the huge liability that the cash-settled incentive options they gave employees when the stock was under $3/share will be? It says right in the acquisition presentation that they will take a $16M charge for it in 3Q.
And that estimate was for when the shares were a lot lower. $20-$30M of cash that will have to be paid in 2017 is a lot of money to this company!
So there is nothing inaccurate in the StreetSweeper article. XXII is a company that is barely alive. All marijuana stocks have reached bubble prices despite being barely legal shams. One the pump and dumpers panicked and doubled-crossed his pals, probably.
Hey, maybe the SEC is not completely asleep at the wheel.
They did do something about a company called Fusion Pharm about 2 weeks ago.
The CEO of Fusion Pharm (Ticker: FSPM) and his brother-in-law have been charged with using about $1.3 million they obtained through illegal stock sales to create phony revenue for the marijuana container company.
The U.S. Securities and Exchange Commission said Scott Dittman, a former CPA, and his brother-in-law William Sears engaged in a $12.2 million microcap fraud that involved issuing restricted Fusion Pharm common stock to companies controlled by Sears, illegally selling the shares into the public market and then transferring some of the proceeds to Fusion Pharm so they could be recorded as revenue.