Dadeano:
At these levels, it's still a hold for me. I am a buy LOW and sell HIGH guy and these prices are not high. For me to sell here would be paramount to liquidation and in my mind it's foolish impatience to liquidate a stock where the company is reporting on time, net profitable in the last period of reporting, no debt, no convertibles, no preferred's and in this space (MJ) at this time, with this share structure.
I feel as if I didn't get to this point i'm at doing dumb stuff like that.... so i'm patiently holding looking for the next move from management.
I feel as if i'm watching a golfer tee off and there is a wide open fairway and a pin placement on the green just ready to be had if they can just put the ball in play. The key here is to just keep the ball in play by simply driving the ball to the wide open fairway. A duck hook or slice into the tree's and i'll reconsider my position.
Relative to making Cannaxa a subsidiary and if it's beneficial to shareholders like myself will depend on the terms. I sense (and this is based on the silence and then the tone of the press release - not on firm knowledge) that the CEO was pretty peeved by the whole process. Both with FINRA and maybe with the cooperation he may not have gotten by past management who likely were in no hurry to cooperate with records requests.
Spinning off could mean shares purchased AFTER the announcement to move to MJ could automatically go to Cannaxa (unless veto'd specifically by shareholder proxy). This might mean under those terms that the float and A/S shrink even more. Either way, and no matter how they do it, my gut tells me, the spin-off will result in a smaller float, smaller A/S and ultimately more shareholder value... maybe signficantly more. I say that because if it didn't preview that, there was no benefit in mentioning it as a coming event at some point by management. I suspect they plan to leave some of the prior management's shares (if they still exist in some form) behind. I got that from the tone of the update, which to me seemed pretty determined and maybe the word i'm looking for is "defiant" in some way.
For me to hold long term, even as the share price begins to rise which I suspect it will very shortly, will be the company performing in a high energy, laser focus, high intensity capacity. It needs to now pivot very quickly with the websites AND marketing plan as we begin Q3 in a few days.... not weeks. If it does that, I will be pleased and feel good about my 20 bagger which I continue to maintain is a lot closer than people think.
You have to be able to look through the muddy water as a trader and see the dry land. I see it... it's not far off if management begins Q3 with guns blazing.
