After spending several hours researching this one I still am undecided on whether or not this is a potential homerun or is it going to be a dilutive disaster......at this point I think it could go either way.
There are a lot of things I like about this. If Gandys technique works on humans, the animal trials seem to show promising results from I've read, then IMO that is extremely compelling stuff. OTC investors like their story stocks and SMFI has a story that could easily get national news attention.
On the other hand, of course where is Smoofi going to get the funds to finance the trials...?? The companies financials are in absolute dire straits, they have no cash and mounting debts. It's hard to say where they are even getting the funds to continue to file and pay their company officers. Any capital raising/financing will almost certainly result in big time dilution to the shareholders IMO.
Now John Hollister was able to raise quite a bit of money for Nemus BioScience, in fact he raised $7M in working capital, the most ever for a cannabis CEO at the time, at least some of that was dilutive though. When Hollister took over for Nemus the stock was currently sitting at around $10, when he left it was dipping below $1 and today is $50 cents.
Despite raising all those funds Hollister was eventually fired from Nemus, they claimed they wanted to go in a different direction. I believe he filed a wrongful termination grievance against them but dropped it earlier this month. I think it was wise to drop it as it just would have brought negative light to SMFI, best to just move on and focus on the future.
WELCOME TO 
