Bots Inc (BTZI)

[lesgetrich]

LMAO You bring up a three year old accusation that was easily debunked when it was written. From my post on 02/06/2017...

mCig post # 82791

Regarding that hit piece posted today...

Readers should take this article with a very healthy grain of salt. It's built entirely on an article written by Alan Brochstein in his blog that accuses mCig of violating SEC regs by not reporting that the CEO sold some of his securities on a 4-K. After I demonstrated in his comments that there was an exception to the reporting requirements for the sale of unregistered securities in a private placement...

Rule 506 Regulation D

...he resorted to innuendo about the motivations for the sale.

1.)

"The company is being heavily promoted"

- It is no sin for a company to promote itself. especially when it's had a successful string of growing revenues and contract signings. Even an advertisement can be billed as a promotion. There is no evidence that the company has participated in any pump and dump scheme yet this is what's being implied.

2.)

“They are trying to build investor confidence— and so, one of the easy tools a company can use is have a — let’s call it — insider buy.”

- Really?? Since when has this become a bad thing?

3.)

"Brochstein noted. The company had never properly disclosed a sale that Paul Rosenberg completed during the year ended April 30, 2016."

- The company reported on it's 2016 10-K that they had utilized Rule 506 to sell unregistered securities in private placements in compliance with SEC regulations. FY 2016 was a difficult year for mCig as it transformed itself from a distributor of $10 vaporizers into a provider of consulting and construction services for the marijuana cultivation industry. Several new executives were hired and released and the business plan was revised twice while the company waited for it's construction division to get untracked. The CEO, Paul Rosenberg, sold some of his personal shares in private placements to pay company expenses (for example one could understand, if it were the case, that he might not want to publicize severance payments to failed execs or payments on other failed initiatives and handle that as a personal business expense). Over the three years the company has been in existence, Paul has, on a number of occasions, used his shares to reimburse mCig for expenses of the company and has, in this way, kept dilution to a minimum.

4.

“That's the bottom line: I just feel like the company is playing a game here,”

- I agree, it is the bottom line. The whole article is based on what Alan Brochstein "feels". Perhaps his feelings got hurt when mCig's pps rose from $.025 to $.50 while he was busy bashing the company. It can't do much for his reputation.

Debunked Again!