American Green's Failure
"World-Renowned Oaksterdam University Tests American Green's Jurassic Watering System and Predicts Growers Who Use the Technology Will See a Minimum of 20-30% Increase in Net Revenue"
World-Renowned! Remember this horseshat of a headline? New investors here probably wouldn't. This was back when American Green was pushing their latest stock seller - the Jurassic Water System, or oxygenated water...
Yep. They pump oxygen into water, and then you use that to water the plants. Because dinosaurs. More oxygen, bigger plants. What's not to love?? https://americangreen.com/oaksterdam-jos-test-results
Oh wait, they removed the test results. Deleted. What the?
Probably because the entire experiment was a farce, with a method that was a disgrace to the scientific community and better suited for an elementary science fair project. The results drawn from this experiment were distorted to fluff up the Jurassic Water System so that shareholders wouldn't think this company was entirely full of crap. No, that's their GroRaptor Aquaponics Garden that is literally full of crap. http://www.marketwired.com/press-release/american-green-premiers-ground-breaking-groraptor-aquaponics-system-otc-pink-erbb-1982410.htm
Ground-Breaking! Remember the GroRaptor? Probably not. This was another fluff venture to try and boost shares buy combining an aquarium and weed garden all in one! How did that do? https://americangreen.com/divisions/cultivation
Oh... it's gone. GroRaptor has been removed from the site as well. Wait a minute, this was ground-breaking technology. It took fish poop and fed it into the marijuana plants, they spent a good chunk of 2014 - 2015 perfecting these products! Where did they go? Is that why Tranzbyte is no more?
Well surely there's still something out there... Hey, I remember! The ZaZZZ Machine, wait, the American Green Machine! That's what this whole company was basically built around since 2009!
Wait. 2009? It's been over 8 years? Well surely the American Green Machine must be perfect now, right? And in every store? I mean it's a vending machine, how long could it take.
When the ZaZZZ first came out, American Green pushed it hard. It was going to be in dispensaries across the nation, and promised deadlines were... missed. Okay, some machines got placed in dispensaries, but then they got sent... back... Ouch. Technical difficulties according to Stephen Shearin. Turns out, no one wanted the machines. They didn't work. So what does American Green do? SLAP A NEW NAME ON IT!
AMERICAN GREEN MACHINE! https://americangreen.com/zazzz-to-become-the-american-green-machine/
OH YEAH! This will be good this time, right?! Um no. As of date, there are no machines out there, they are sitting in a warehouse still wrapped out. American Green has been saying the machines are being "rolled out" for years now, yet nothing to show for it. They used to have an entire website dedicated to tracking machines, but it is now offline and has been for years: http://marijuanastocks.com/erbb-update-zazzz-network-fires-up/ http://www.zazznetwork.com
How about that Tempe Arizona premium dispensary property they purchased? Remember when American Green was going to have its own medical marijuana location?
TEMPE, AZ–(Marketwired – Mar 22, 2016) – American Green, Inc. (OTC PINK: ERBB) today announced that it has it signed a Purchase Agreement for a Class A building in Tempe, Arizona that will be a prime location for a Medical Marijuana Dispensary it will lease to one of its license holder clients.
They turned around and sold the property instead of doing what they said, and Miller (the acting CEO) was canned.
TEMPE, AZ--(Marketwired - Aug 12, 2016) - American Green, Inc. (OTC PINK: ERBB) announced today that Mr. Jonathan Miller's position as American Green's CEO has been terminated. The company will be guided by its executive chairman, Mr. David Gwyther, who has been, over the years, very familiar with the organization's various initiatives.
Okay... so it doesn't look like American Green is very good at doing business. Sure, they are still in business, but off the backs of shareholders and toxic debt. Seriously, look at their financials. It's not good. at. all. And it keeps getting worse. https://www.otcmarkets.com/financialReportViewer?symbol=ERBB&id=177212
BUT AMERICAN GREEN IS BUYING NIPTON! OH YEAHHH! POT CITY BABY!
Give me a break. This has to be their most ridiculous PR yet, and the news sites ate it up. So they got that going for them. Not only do they not have the money to buy a town, they don't have the history to back up their ventures. Failed Jurassic Water, Failed GroRaptor, Failed ZaZZZ, Failed Truth Lighting, OneBode, OGTEA, and so many other failures that anyone who thinks that this Nipton deal will go through deserves to lose every penny they give to American Green. They've been doing it for 19 years, changed company names, and changed stock tickers, and changed share structure. Nothing to show for it at all. Unless you count Stephen Shearin's six digit consulting fee. Mike Rosati, Director of Marketing for American Green, even said there won't be any grow facilities or dispensaries in Nipton even though initial press releases said there would be:
"We may have come at it initially thinking grow and dispensaries and that, but the more time we spend out here, the more we realize while it’s something we still want to pursue, it’s not going to happen right here in the town," said American Green's vice president of marketing, Mike Rosati. Instead of highlighting cannabis-centric entertainment, Rosati pointed to Nipton's other options: the neighboring Mojave National Preserve, stargazing, mountain biking and exploring old mines. He said American Green hopes to build a "moderate concert venue." They're also interested in bottling Nipton's water, and eventually infusing it with CBD.
American Green is rotten, and they are not innovators. They are parasites. Every few months they'll put out a press release about some new technology they are working on, or how they are partnering up with these dispensaries, and big things are coming to shareholders and American Green loves you. Then NOTHING. Billions of shares are added, share price declines, and everyone is left holding the bag while their shares get more and more diluted. They don't even talk about their past ventures, they just delete them from the website like it never existed. This is not an honest company, and quite frankly, they should be shut down for continuing this deceitful business practice of promising innovation and diluting shares without ever doing anything about it.
Let's take a look at their other failed past ventures or outright lies:
MJ Research Facility at Hemet, CA
American Green Xpress
Hempful Farms becoming American Green
American Green Machine
FutureWorld 1,500 Machine Deal
iMD Jurassic Water Order
and soon to be added Magical Nipton
Phoenix Grow Facility
Do I need to continue? All their bogus PRs are located here: https://www.otcmarkets.com/stock/ERBB/news
Do your own due diligence on this company and actually look at its past history if you want to know what to expect for its future. Don't believe all the fluff posted on this board.
"Fraudsters often exploit the latest innovation, technology, product, or growth industry – in this case, marijuana – to lure investors with the promise of high returns. Also, for marijuana-related companies that are not required to report with the SEC, investors may have limited information about the company’s management, products, services, and finances. When publicly-available information is scarce, fraudsters can more easily spread false information about a company, making profits for themselves while creating losses for unsuspecting investors."
Things aren’t always what they seem in the heat of the desert, and American Green’s purchase of Nipton may be no exception. While most of the press attention on the sale focused on the novelty of a cannabis company owning a town, New Cannabis Venture’s Alan Brochstein is the first to draw attention to American Green’s dire financial situation. According to their most recent filings, American Green has only $191,000 in cash, about $2.1 million in assets, yet $8.76 million in liabilities with over $8 million due this year. Brochstein described American Green as “an incredible disappointment for investors since inception.” Furthermore, according to Brochstein, the company is “on a serial dilution treadmill from which it is unlikely to escape anytime soon.” So far, instead of making money, it appears that American Green has just created more shares to pay down its hefty debts. Brochstein suggested that investors proceed cautiously, because “the company has a long history of issuing exciting press releases but then not following through.”
Given Brochstein’s dire prognosis of the health of American Green as a company, it’s hard to say for certain if this project will ever get off the ground, or if it will be one more case of “not following through,” leaving Nipton high and dry.
Do your own due diligence on this company.