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Should be pretty easy to buy at .0001, I’ve seen several million at .000001. Not much point though, this will never get off the grays. The lenders used the farm as collateral so they should end up owning all of the assets with value. This was all done before they were sent to the grays though, and based on the lack of volume most peoples shares are worth less than the trading fees.
Not real sure what that’s about, the broker must have some reason to break up
the trade like that.
You both need to call your broker to buy or sell shares. There’s no bid or ask, you take whatever the broker has for prices at that moment.
I can’t remember who was here first, but I remember you Risicare and 23t456 (something along those lines), before I got here. Thank you for the warnings.
This turned into a soap opera level of a scam, and the truth was right here on this board the whole time, those that chose to listen did well, those that didn’t get several years of tax write offs.
Same story different day, I knew that name sounded familiar.... https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150154449
Stock price still at $.0001, no revenue or filings. How’s that good?
Well that was a year ago, tell me what’s changed? I’ll wait....
Nothing changed but the name. Same people, same address, same stock cusip number, same share price, same lack of filings.
It’s common knowledge that this stock was a fraud and there was a huge risk of suspension while the SEC was investigating Vinnie. Years of $.0001 proves it.
The whole reason this company is worth $.0001 is because of that one person. He destroyed the stock and all the shareholders at the same time, and yet people still bought for some reason.
I hadn’t seen that, definitely not enough punishment though. If the fine was for just $65,000 maybe he tried to hide a car from the judge? This guy just can’t help but lie it seems.
This company has nothing to do with Quicken, so it doesn’t affect Notis at all.
That’s not even about Notis, your link about Notis is from July 17 2019. Nothing’s changed since then anyway.
That’s from last year
Lenders got the good stuff here looks like.
I notice she didn’t mention anything about their sublease expiring this month.
Same old same old here. That 8k had more info than most of their quarterlies. Redwood has two board seats? That’s news to me, I’m surprised they don’t have more by now, or even all of them. Andrew should have known what he was getting into with this dumpster fire, but I wonder what money he was talking about being misused. Thanks for posting.
One or two big volume days and then back to nearly zip.
I like that idea, good risk reward.
The sublease on their greenhouse expires soon too, March I believe.
It is, the filed a bunch of old filings recently that I haven’t had time to go through, but at one time they said with all of the convertible debt converted, the o/s would be closer to 100 billion. Something’s up here though, it was no bid for a few days, and then the filings dropped.
Lots of interesting stuff in these filings.
Tough to say what led to his death exactly, hopefully more info comes out eventually. His reputation seemed a little mixed, some people said great things, and others said terrible things. That management style may not translate well for MJ. Looks like he wasn’t a grower, but a distributor, which is probably easier to rob than a grower.
https://heavy.com/news/2019/10/tushar-atre/
I guess they’re not going to file any new 10K/Q’s, for a second there I thought hey might try and catch-up.
Here’s the part about the gray’s: “Eliminate the piggyback exception during the first 60 calendar days after the termination of a Commission trading suspension under Section 12(k) of the Exchange Act;”
This is an easy read on some of the changes: https://www.sec.gov/news/press-release/2019-189
I would agree with you that they won’t be quoted, at least from what I’ve read, but it could keep them from being subject to a civil lawsuit from the SEC, unlikely for many, but it does happen. Filing a form 15 only relieves the companies obligations to the SEC, public companies must still make information publicly available to shareholders, including financial statements, they don’t usually do that, but they’re supposed to. How they end up being subject to this rule, I have no idea, doesn’t look like the old loopholes are going to be available for crappy pennies. The only companies I know of that file them are garbage scams, so I can’t really answer that question, but there may be some legit ones. Either way it doesn’t help any of these companies like SIGO, it’s a losing situation. SIGO could become current, likely exposing lack of revenues etc., or they can do nothing and not have their stock quoted. First option would dilute the stock into triple zeros as shareholders sell, and note holders are able to convert; option two skips all that and straight to zero. I suspect that Wade has made his millions, so whatever happens here doesn’t affect him much, and he still has at least a year to sell more shares if he has any left.
It does appear that the pink no info stocks could be caught up in this. I’m not sure what happens to a stock that files a form 15 so they don’t have to report to the SEC anymore. You have to be current, which is out of the question for most of those stocks.
I’ve often wondered why OTC Markets allowed themselves to be a part of fraud, but in some cases they have to, such as a grey sheet stock. I noticed an exception to the new rule for grey sheet stocks, they’ll be allowed to trade for a few months and then they’re gone forever.
I saw that yesterday, I was pretty shocked to be honest. If this rule goes into effect as is, many p&d will cease to exist, including this one. There are some exceptions for the few legit companies on the OTC, but in general, if you don’t file your 10K/Q’s on time, the MM’s won’t be able to post the bid/ask for your stock. Broker/dealers will be responsible for ensuring they’re quoting a stock that is current. It would stop a ton of fraud, not sure what the downside is unless you’re a pumper. The degenerate gamblers will have to find another scam to lose money on.
No, it’s a fact they haven’t filed.
Here’s some new stuff from the 10Q/A. They’ve been hiding a lot
I remember when this happened but this is the first time we’ve had this much information on the BMG deal:
“Divestiture of Battle Mountain Genetics, Inc.
During December 2017, the Company divested itself of BMG by transferring all of the issued and outstanding shares of BMG, to T.J. Magallanes a former officer and director of the Company, in exchange for 3,036,000 of Mr. Magallanes’ SIGO Series A Preferred shares. “
And this:
“As at January 31, 2018, the Company has potentially 46,000,000 in dilutive securities, from outstanding Series A convertible preferred stock, which were excluded from the computation of diluted net loss per common share as the result of the computation was anti-dilutive”
St George Note is in default, but not the one from February 2018, this one I don’t even remember hearing about:
“On December 8, 2017, the Company issued a $170,000 convertible promissory note to St. George Investments, LLC. The note is repayable in seven (7) months and bears interest at 10% per annum. The note is convertible into Common shares at the option of the holder at issuance at $0.90 per share of common stock.
As of the filing of this interim financial statement, the note is in default and is accruing interest at a rate of 22%. The note is now convertible at a price which is the lower of $0.90 per share and the market price on any applicable date of conversion. Certain other reset provisions and potential true up policies are in effect which may materially increase the number of Common shares to be delivered
upon conversion.”
No REI Extracts deal either:
“In December, 2018, SIGO and REI Extracts mutually agreed to terminate their joint venture. All equipment delivered by REI Extracts was removed by REI Extracts and the Company ceased utilizing the master grower provided by REI Extracts.”
No Job Growing deal too, but they still got paid a shit ton for nothing:
“On September 17, 2019 Job Growing notified the Company of its intent to terminate the agreement between Job Growing and the Company effective immediately.
On August 15, 2019, the Company received a true up notice from Job Growing to issue 576,091 shares of Series C Preferred Stock to Job Growing valued at $633,700, pursuant to the terms of the purchase agreement signed on November 30, 2018. “
So why is BMG at the farm if all of the assets were transferred to TJ:
“On January 15, 2019, BMG was fined approximately $35,000 for not having Worker's Compensation insurance for the months of January 2018 - April 2018. The Company believes this is a fine owed by BMG and is not a liability due to the Company, as we transferred ownership of BMG during December 2017, to T.J. Magallanes, the Company's former CEO (see Note 1). VBF Brands, the Company's operating entity, has worker’s compensation and was not subject to the fine. The Company ceased operating BMG in December 2017.
Another pointless deal:
“On February 11, 2019, , pursuant to a purchase agreement entered into by and between SIGO and Cicero Travel Group, Inc. (“Cicero Travel”) the Company issued 333,000 shares of Series C Preferred Stock, valued at $1,000,000, to Cicero Travel, in exchange for the rights to receive 33% of the net profits of Cicero Travel, 19% of the issued and outstanding shares of the common stock of Cicero Travel and the right to purchase an additional 14% of the issued and outstanding shares of the common stock of Cicero Travel.
On August 19, 2019, the Company received a true up notice from Cicero Travel to issue 486,672 shares of Series C Preferred Stock to Cicero Travel valued at $593,740, pursuant to the terms of the purchase agreement signed on February 11, 2019. The Company believes the true up notice is without merit, that Cicero Travel has not met its obligations under the purchase agreement and SIGO intends to cancel the previously issued shares of Series C Preferred Stock and will not be issuing any additional shares of Series C Preferred Stock to Cicero Travel”
That is completely untrue, they’re an SEC registrant, and they’re required to file. Everyday they don’t file, is just another opportunity to be suspended by the SEC, like so many others that did the same.
2 years for a suspension seems to be a totally random reason for a suspension, but in the past, the SEC did act on the more egregious otc scams that were 2 years late on their filings. CBIS got popped yesterday and they were around 17-18 months late, but of course some go on much longer.
Why would this company not file on time though? They have the money from convertible debt, and they have an accountant, so there should be no good reason for these games, unless it’s a scam right?
I didn’t mean that someone at SIGO literally wrote their name on the 10Q, but Borgers, and Wade, both know that the auditor needs the Q’s to be correct to render an opinion on the K. Without knowing who prepared the 10Q we don’t even know how much info is accurate, but it certainly was no accident.
If this is a tactic to prevent an SEC suspension by being less than 2 years delinquent and still being delinquent enough to prevent note holders from dumping shares, I guess it’s working, but it’s pretty risky. Seems like it would be easier to just pay the auditors and accountants to do their jobs, they should have the money.
Looks more like they filed their own 10Q and then put Borgers name on it. Oops
Have you seen something like this from any of Wades other companies? Seems particularly stupid even for this co.
From the 10Q
No mention of TJ or the transaction with BMG group where he and Val sold a bunch of shares.
No revenues, none! Shareholders are paying the costs of the grow but getting zero revenue. What happened to the sales before 10/31/2017, and after, when VBF switched to a for profit company, and why were there no sales after legalization?
Quite a bit more debt than they told us about in earlier filings. Someone paid just $.10 per share in October of 2017, when the shares were worth $.60.
“During the three months ended January 31, 2018, the Company issued various 5% notes to a related party, for gross proceeds of $99,200. The notes are due on December 31, 2019. The notes accrue interest at 0% for the initial nine months and then 5% on annual rate thereafter.
During the three months ended January 31, 2018, the Company issued 500,000 shares of common stock for $50,000 recorded as subscription received at October 31, 2017.
On February 28, 2018, the Company issued 360,006 shares of common stock to Greg Tucker for consulting services. The shares were cancelled on July 18, 2018.”
Lease is up soon, will SIGO even have a grow site?
“On March 1, 2017, the Company executed a lease for 12,000 square feet green house space and 1,000 square of warehouse space expiring March 31, 2020. The monthly lease is $7,000 per month. During the three months ended January 31, 2018, we incurred total lease expenses of $54,930.”
This was an interesting quote: “BMG is no longer part of SIGO.”
I wonder when that happened, or why, and what do they mean by BMG. Are they talking about that transaction back in the fall of 2017, where Val and Tj’s shares were transferred to BMG, or are they talking about Battle Mountain Genetics, the original tenant and leaseholder of the grow site? Too many questions with these guys.
This company was suspended by the SEC several years ago, the stock went from just a few dollars to over $20 and right back down again. It’s EXTREMELY unlikely they ever get off the grays, this company is forever tainted by Vincent Mehdizadeh. He did the same thing with Medbox, now NGBL, and the SEC charged him and his girlfriend personally. In the case of PNPL, the SEC suspended it and now it’s on the gray sheets.
I was a little surprised to see any posts here, the whole reason I checked on the board was because of a billboard. Last month I was driving east on the 10 and saw a billboard with their logo and website. I thought it might be a different company, but it’s the same old Pineapple. Before legalization they were planning on converting a church into a grow house and dispensary, the stock was halted and they left town with a bunch of money owed to local contractors. Fast forward a few years and it appears Vincent is not a part of this company, or at least that’s what they’re trying to present. He is nowhere to be found on their website and I have no idea if he still has any association with the company.
Their big plan is to build a Cannabis campus business, with multiple vendors, very similar to the nearby Coachillin’ campus being built. Land values have come down some since legalization, but they’re still very high, and the retail licenses are difficult if not impossible to get in the area. It’s super easy to get a manufacturing or cultivation license, but anything else is much more difficult.
If you want a stock that is SoCal local, I would check out Planet 13 $PLNHF, I’m not saying it’s super great or anything, but of all the locals I’ve looked at, they’re the only one that’s not total garbage, or drowning in convertible debt. Hasn’t been a great stock to hold though, so buyer beware.
Here’s a link for more background on Vincent:
https://www.newcannabisventures.com/former-medbox-ceo-vincent-mehdizadeh-agrees-to-pay-sec-12mm-in-securities-fraud-settlement/
That’s true, but I can only do one sticky.
Yes you’re wrong. The mods job is to make sure the tos are followed by all posters, both pro and con. If people talk about the stock and not other posters, you can say whatever you want.
It’s easy to verify, just go to Notis SEC filings and let us know how much money from the farm has gone to shareholders, it’s been over 3 years, so it should be a lot, but it’s $0. There was a $3+ million payment due on the farm one year ago, the income from the farm is secured by one of the toxic lenders, and according to their own filings, the fully diluted shares outstanding is over 100 billion shares, clearly the lenders are in charge, leaving nothing for commons. Can the pps go up, sure, but not because they make any money.