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The quarterly report is the only thing I am waiting on but they filed for a time extension. This doesn't really surprise me since they hired a new accounting firm at the end of June. I am looking forward to seeing the revenue numbers since they are working on a few consulting projects that should have very high margins as well. I have no idea how much revenue to forecast, depends on the how much of the projects have been completed so far.
All the best,
Knife
def some good vol today - $AMMJ
Regards
Volume is picking up… News soon?!
Looking forward to when AMMJ gets some real volume going again, with the small share structure it can move quickly.
Good times ahead,
Knife
I have started accumulating shares again, brings down my cost basis and I believe the sector will be turning around this fall. AMMJ will likely have some better quarterly reports coming with the higher margin consulting work they are doing, time will tell.
All the best,
Knife
Let's hope she holds...
Broke through two month resistance range around .048 - .05 as well as the 50dma at .046.
https://schrts.co/vBqbHySc
Good times ahead,
Knife
Nice just noticed! Letsss go!
Regards
$AMMJ nice move today :)
Now that a much-anticipated Senate marijuana legalization bill has been released, Majority Leader Chuck Schumer (D-NY) said on Thursday that he is committed to working with bipartisan offices to get “something” done on cannabis reform “this year.”
https://www.marijuanamoment.net/schumer-commits-to-bipartisan-work-to-pass-marijuana-reform-this-year-after-legalization-bill-unveiled/
Given recent history I have little faith in anything actually passing but it will at least bring attention back to the industry for a while, I'm OK with that for now.
All the best,
Knife
Long-awaited bill to end federal ban on marijuana introduced in U.S. Senate
https://www.nj.com/marijuana/2022/07/long-awaited-bill-to-end-federal-ban-on-marijuana-introduced-in-us-senate.html?outputType=amp
Got to get past that .048 resistance. Let's go.
$AMMJ looks ready!
Democratic senators are drafting legislation that would pair decriminalization of marijuana at the federal level with criminal justice reforms, and plan to introduce it as early as this week, lawmakers said.
https://amp.washingtontimes.com/news/2022/jul/19/democrats-see-opening-squeeze-marijuana-legislatio/
The Senate Judiciary Subcommittee on Crime and Terrorism, chaired by Sen. Cory Booker (D-NJ), will meet on July 26 for a meeting titled “Decriminalizing Cannabis at the Federal Level: Necessary Steps to Address Past Harms.”
https://www.marijuanamoment.net/senate-schedules-marijuana-hearing-in-committee-chaired-by-cory-booker-with-legalization-bill-set-to-drop-any-day/
#AMMJ:' PUSHING THE UPPER CHANNELS TODAY....
Picked up some more at this level. I'm comfortable where I'm at with shares at this point. But, we had no run this spring. This sector will need to get moving. Period.
The "Advances from Clients" is just treated more like a loan. You are right though, very similar.
#AMMJ: WILD SWINGING PPS..... GO TURCH
https://www.stockscores.com/chart.asp?TickerSymbol=AMMJ&TimeRange=180&Interval=d&Volume=1&ChartType=CandleStick&Stockscores=1&ChartWidth=1100&ChartHeight=480&LogScale=&Band=&avgType1=&movAvg1=&avgType2=&movAvg2=&Indicator1=None&Indicator2=None&Indicator3=None&Indicator4=None&endDate=&CompareWith=&entryPrice=&stopLossPrice=&candles=redgreen
looking for some 4's if they are available!
Regards
#AMMJ: LOOKING TASTY AGAIN...
CGC and most of the large players have terrible financials, the only reason they are watched is due to their trading on major exchanges, otherwise they would be dismissed as the junk they are.
All the best,
Knife
Canopy earnings were off. Flash sale on AMMJ today.
volume is very low = nobody selling.
AMMJ's Q1 report is out and isn't particularly impressive, but it has one line that stands out significantly and IMO bodes well for the future.
https://www.otcmarkets.com/filing/html?id=15839945&guid=AGawkHVz5DwfJth
That line is "Advances from Clients" under the Current Liabilities section. Normally I have seen it worded as Deferred Revenues meaning they have been paid upfront for work that has not been completed yet. As the work is completed this liability is shifted over to the Income statement as Revenues. Paying attention to this line can help predict potential revenues for future quarters.
https://www.accountingtools.com/articles/advance-from-customer#:~:text=What%20is%20an%20Advance%20from,shifted%20to%20a%20revenue%20account.
As you can see in the comparison to the Dec 31'st number it went from $112k to $5.7m indicating some large contracts have been initiated and the upfront payments are significant; notice the increase in Cash on the Balance sheet as well. As a comparative measure the revenues for all of Q1 were only $620k. It appears that the recently announced partnerships are on track to boost revenues significantly. Also keep in mind that the company has very high gross margins for consulting work which much of it seems to be.
I added to my holdings this AM, all the best,
Knife
The endlessly shifting timeline for political action continues to hurt the sector. I have quit trying to predict when anything might happen, it's gotten too frustrating. As for AMMJ they have some interesting projects going on and I would like to hear more about the revenue potential of their recent announcements. I also agree with your statement that the shares appear to be getting locked up, the Bid/Ask spread is quite large and the selling seems to have abated.
All the best,
Knife
There’s a storm brewing and shares appear to be getting locked up here.
“The conference committee held its first meeting on the America COMPETES Act last week, with multiple appointed conferees urging the body to attach the SAFE Banking Act language in the interest of economic competitiveness and public safety.“
https://www.marijuanamoment.net/congressman-says-theres-tremendous-momentum-to-pass-marijuana-banking-in-bicameral-conference-on-manufacturing-bill/
“Rep. Earl Blumenauer (D-Oregon), one of Congress’ leading marijuana legalization advocates, said earlier today that cannabis banking reform could pass in a matter of months if not weeks.“
https://www.leafly.com/news/politics/safe-banking-has-perfect-opportunity-to-pass-in-congress-soon-says-legalization-leader
Always nice to see someone hitting the Ask, wonder how many shares they are after.
All the best,
Knife
All good news. Long game looks good here.
The company has made some good announcements recently, paying off half of the $1.1m note plus accrued interest and restructuring the other $550k into a new note due in a year was of particular interest to me.
https://www.otcmarkets.com/filing/html?id=15774648&guid=MbqwkePydb89Qth
The new partnership deals are nice to see as well and should increase revenues in the coming quarters. It's hard to tell what the share price will do in the short term but the company is making some good moves from a business standpoint and as an investor that is what matters most.
All the best,
Knife
I was wondering why the pps was driven down to .038 yesterday. Good stuff today.
$AMMJ moving up on some nice news today!!
“American Cannabis and KORcannabis aim to advance the cannabis industry”
https://seekingalpha.com/news/3831009-american-cannabis-and-korcannabis-aim-to-advance-the-cannabis-industry?utm_campaign=twitter_automated&utm_content=news&utm_medium=social&utm_source=twitter_automated
#AMMJ: American Cannabis Company, Inc. and KORcannabis Aim to Advance the Cannabis Industry with Newly Formed Strategic Alliance......$0.06
https://www.otcmarkets.com/stock/AMMJ/security
https://americancannabisconsulting.com/
https://korcannabis.co/
https://www.otcmarkets.com/stock/AMMJ/news/American-Cannabis-Company-Inc-and-KORcannabis-Aim-to-Advance-the-Cannabis-Industry-with-Newly-Formed-Strategic-Alliance?id=355229
https://youtu.be/XoIcopO2yE8?t=9
Last run hit .60's keep that in mind :))))
.07's ---> .60's in a couple months
Regards
#AMMJ: HARD TO BELIEVE...$4 MILLION M.C...!@ $0.045
https://www.otcmarkets.com/stock/AMMJ/security
Yes sir when Mj's come around you will be happy you loaded up here!!!
Just need some patience - may be a little bit
Regards
#AMMJ: HARD TO PICK THE BOTTOM... 0.004
JUST KEEP ON BUYING UNTIL THE GOAL IS REACHED...!
GO TURCH
looks likely with summer in route- $AMMJ
Regards
#AMMJ: HOPE MY BID GETS FILLED SOON... 0.04
GO TURCH
Found a better article. Interesting read…
https://www.jdsupra.com/legalnews/u-s-competitiveness-package-recent-3834206/
Yeah, looks like a political games being played not for the establishment of new law, but for votes. However, all pointing towards November election hype.
https://www.msn.com/en-us/news/politics/washington-senator-pushing-for-safe-banking-act-to-help-stop-violent-pot-shop-robberies/ar-AAWpO8Y?ocid=BingNewsSearch
I couldn't find a date. It sounds like it's caught up in politics over how to advance the legislation.
https://norml.org/news/2022/03/31/us-senate-excludes-safe-banking-language-from-america-competes-act/
Is the Safe Banking Act being voted on around end of May? Someone mentioned that to me, but I can’t find a link. TIA
Ah, looks like it came out today. News flash above.
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