Where are financials?
How long will this shit show go on? Why can't BellRock produce financials?
It has been SIX months since the Canadian regulators issued a cease trade order.
Must be really hard to find qualified CPAs if you cant produce EOY financials after 11 Months!
GLTA. Do your own DUE. A pink stock is not what I purchased. Dixie was struggling but at least they could produce required financials!!!
Did Dickless/SmellCock fold?
I realize the company has been shackled because management is too stupid to figure a path forward but what has become of this hairy turd? Do they even make products any more?
So sad cause Dixie was once a great brand and one of the first MSOs in the MMJ business
Cant find DIXIE products in Colorado
I just visited three retail operations in the four corners area of Colorado. I found "A" Dixie product in only one store. They had ONE package of Taffy edibles.
One. In the entire store, One Dixie item to sell.
The salesperson did not know why there were no other products from DIXIE available.
I don't know why either.
Clearly, this is not good if only one of three stores carry it. And, that store was out.
GLTA> Post the darn financials. IMHO this company has run itself into the ground.
Blackrock, Dixie, Whatever…..
At one point Dixie was one of the first MMJ MSOs with a bright future. Inept management, branding issues and much more have turned this outfit into a mess.
A real bummer
What a disappointment. Honestly how the H
can they choke this bad in a literally meteoric industry?
They should be able to juggle dead cats while the plants grow and STILL
make profit! Instead, we are getting expensive financing to
continue to operate at a loss in THIS industry. I'm not out but
I don't expect SH*T from this group going forward, based on the
resounding mediocrity I've seen.
Cease Trade in place for a Month!
BellRock MGMT Team, how long are you going to wait until you release financials and get the Cease Trade Order issued by Canadian regulators on July 9, 2021 lifted? Monday, Aug 9, will make an entire MONTH you have allowed this order to go on.
We are in MONTH NINE of no financial data. NINE MONTHS of silence. To blame this on a reverse merger in Oct of 2020 is to say BellRock MGMT is incompetent, Couldn't see this coming, and can't fix it.
I am a Loyal Dixie stockholder now stuck with BellRock's inability to produce financial data.
I want to believe that this MSO is worthy of trust but this MGMT team is making it extremely difficult to hold onto any hope.
When, BellRock, When will you release financials? Second qtr 2021 financials will be delinquent soon also!
GLTA, this stock is frozen in depressed range for now. imho.
Cease Trade Order on DXBRF
Canadian Regulators issued a Cease Trade Order due to NO Financials released in 7 Months.
No FY2020 data.
NO First Qtr FY2021 data.
Stock will be allowed to trade when audited financials are released and reviewed for completeness by the regulators...
NICE job BellRock management team. Since most of new team is recycle of existing people, they bear the blame too.
GLTA, How long will this go on?
New BellRock MGMT TEAM--Where are financials?
NO fourth qtr 2020 financials.
NO FY2020 annual financials.
NO FY2021 first qtr financials.
NO FY2021 Second Qtr financials.
What can Canadian Regulators be thinking about NO financial data for over 7 Months?
Put out financials or DELIST.
GLTA. This non disclosure by a publicly held company has gone on for way to long.
Too little Too late?
When the company is doing great, you promote from within. When you are floundering, miserably, you should look outside for help.
I always hired the best and brightest I could find and let them shine. I grew smart individuals with curiosity into key people.
I hope BellRock Investors know and approve of these individuals. Otherwise, they are resuscitating a corpse.
GLTA. Thanks for the news...
New CEO coming. Wouldn’t pull the plug quite yet.
BellRock Brands Restructures Management to Enhance Senior Leadership Capabilities and Accelerate Strategic Growth Initiatives
Realignment Behind Proven Top-Tier CPG and Cannabis Expertise Focuses the Company on its Core Competitive Advantages
DENVER, July 19, 2021 /CNW/ - BellRock Brands Inc. ("BellRock" or the "Company") (CSE: BRCK.U), an industry-leading cannabis consumer packaged goods ("CPG") platform, announces new leadership with a proven track record of driving profitable growth and shareholder value in the CPG and cannabis industries. These leadership changes build on the Company's strengths and better position its platform to capitalize on the rapid growth of the U.S. cannabis market.
BellRock Brands Inc. Logo (CNW Group/BellRock Brands Inc.)
Chuck Smith will be stepping down as Chief Executive Officer and will remain in the role until the search for a new CEO has concluded. In addition to aiding in the transition of responsibilities to his successor, Smith will continue to serve as an ongoing advisor to the Company, particularly with respect to regulatory and cannabis marketplace dynamics.
Additionally, BellRock's current Chief Operating Officer, Brian Jansen, has been appointed as President. Prior to the business combination of BR Brands and Dixie Brands, Jansen served as interim CEO and COO of Mary's Medicinals, where he successfully led several commercial expansions, supply chain improvements, and drove the asset to free cash flow positive. Before joining the cannabis industry, Jansen had two decades of experience in the CPG industry, having held leadership roles at multiple global companies, including PepsiCo, Grupo Bimbo, and the Hain Celestial Group.
"When Dixie Brands was founded over ten years ago, the vision was to transform the company into a key player in the cannabis industry. That goal was accomplished, and following the merger with BR Brands, BellRock has combined two iconic cannabis brands with a portfolio of top-selling products in high-growth segments to create a platform positioned for dominance," said Smith. "I am proud to have served alongside this team for the past year and witness its countless achievements. With new management at the helm, BellRock will be well-positioned to accelerate its growth and continue to do what is most important - make a positive impact on the consumers we serve."
BellRock also announces the promotion of Kavi Bhai to Chief Financial Officer. Bhai was previously with BR Brands and has deep financial expertise within the cannabis industry having served as the CFO of Mary's Brands prior to the formation of BellRock. Prior to joining Mary's Brands, he was an Audit Manager at Frazier & Deeter LLC, a nationally recognized CPA and advisory firm. Bhai's promotion coincides with the Company's exit of former CFO, Alex DeGortari.
In addition to the changes at the senior management level, Executive Chairman Andrew Schweibold and Board Member Brian Graham will assume more active roles in executive functions to augment the management team. Schweibold has spent his career in the financial services sector as a private investor and board member to a myriad of companies across a broad range of industries. Throughout his career as a private equity professional, he has developed a particular expertise in control buyouts and financial restructurings.
Graham is an existing member of the BellRock Board, a legacy Dixie Board Member, and a seasoned CPG executive/director with extensive entrepreneurial and CEO experience. Graham's leadership acumen has been tapped across multiple industries to help create leading brands. Previously, he served as the CEO of NIOXIN, responsible for transitioning the company from a regional player into a global leader before being acquired by Procter & Gamble.
"BellRock has reached an inflection point whereby the realignment of management, rooted in both CPG and cannabis expertise, will further solidify the foundation of the company to deliver the growth necessary to become the preeminent cannabis house of brands," said Schweibold. "The elevation of talent from within is a testament to our team's strength, and with the marriage of the Board and management as one cohesive team, BellRock will commence its next stage of evolution and success. I want to thank prior management for their contributions and for navigating us through a complex merger. I look forward to BellRock's next chapter."
In the near term, BellRock is focused on strengthening its presence in existing markets, fortifying the Company's market-dominant SKUs, and pursuing calculated growth opportunities in new form factors and markets. Together, with CPG expertise at the forefront, management and the Board are working to further enhance BellRock's platform as the first true national cannabis house of brands and the only cannabis CPG platform of its kind.
Concurrent with the Company's leadership changes BellRock is withdrawing its previously announced guidance of $50 million in revenue for 2021. Additionally, the Company's restructured management team is committed to working diligently and expeditiously with its auditors to complete the annual filings and the interim filings as soon as possible.
About BellRock Brands
BellRock Brands is a national cannabis house of brands and intellectual property focused CPG operator that possesses one of the industry's broadest branded product portfolios. BellRock consists of two iconic cannabis brands, Mary's Medicinals (a pioneer in the Health & Wellness segment since 2013) and Dixie (a market-leading cannabis-infused edibles brand since 2010). BellRock also includes two growing California-based brands, Rebel Coast and Défoncé. BellRock's CBD portfolio includes the brands Mary's Nutritionals and Mary's Tails. With 7 brands and over 200 SKUs, BellRock reaches nearly every key consumer group and addresses the needs of a diverse cannabis consumer base. The BellRock manufacturing and distribution footprint continues to expand and currently spans nine states, and the Company owns or manages production facilities in its largest markets. For more information, visit www.bellrockbrands.com.
Forward-Looking Information and Statements
The information provided in this press release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. All statements, other than statements of historical fact, made by the Company (or its predecessors) that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements, including, but not limited to, statements preceded by, followed by or that include words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", or the negative of those words or other similar or comparable words. Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments. These statements speak only as at the date they are made and are based on information currently available and on current expectations and assumptions concerning future events, which are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from that which was expressed or implied by such forward-looking statements, including, but not limited to, risks and uncertainties related to: (i) the regulation of the medical and recreational marijuana industry in the United States, Canada, Mexico, Australia, New Zealand, Latin America and other countries in which the Company may carry on its business; (ii) the ability of the Company to obtain meaningful consumer acceptance and a successful market for its products on a national and international basis at competitive prices; (iii) the ability of the Company to develop and maintain an effective sales network; (iv) the success of the Company in forecasting demand for its products or services; (v) the ability of the Company to maintain pricing and thereby maintain adequate profit margins; (vi) the ability of the Company to achieve adequate intellectual property protection; (vii) the availability of financing opportunities, risks associated with economic conditions, dependence on management and conflicts of interest; and (viii) other risks described from time to time in documents filed by the Company with securities regulatory authorities, including the Company's listing statement dated October 31, 2020.
The forward-looking statements contained herein are based on certain key expectations and assumptions, including the Company's ability to transition to new senior leadership without any material adverse change to the Company's operations or business.
With respect to the forward-looking statements contained herein, although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements as no assurance can be given that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the risks described above. Consequently, all forward-looking statements made in this press release are qualified by such cautionary statements and there can be no assurance that the anticipated results or developments will actually be realized or, even if realized, that they will have the expected consequences to or effects on the Company. The cautionary statements contained or referred to herein should be considered in connection with any subsequent written or oral forward-looking statements that the Company and/or persons acting on the Company's behalf may issue.
Not sleeper, in coma. Pull the plug,
BellRock management team is completely inept. It is now 6.5 months since the FY ended... No financials. No EOY. No qtrly. No announcements.
If you cant do financials, you cant be a publicly held company.
How long will Canadian regulators allow this to go on?
Pull the Plug, delist. Let's cremate this company.
Did Dixie crawl under a ROCK?
Delisting is a serious threat to DXBRF share holders. NO Financials for 7 Months now. No FY results from FY2020. 7 months to get EOY financials completed and nothing. Over halve way through FY2021 and nothing telling the market about this year either...
Canadian regulators, do your job, make BellRock produce financials or delist this junk.
If BellRock cant produce financials, sell the old Dixie company assets and let us buy it again. BellRock has been a disaster to Dixie shareholders.
We don't even have a latest "LIE" about when BellRock will report audited financials.
"It's too hard to consolidate results" is a WHINE not a comment by strategic leaders.
GLTA... I'm a bagholder...
Still NO Financials? Will it be delisted?
I read most recent news release. More of the same. Cant get it done. Its too hard. No one understands the task...
Its been SIX months. Others are being delisted for this non reporting.
BellRock, this is a self inflicted wound.
Shame on you.
GLTA and to all bagholders of this junk.
BellRock! Anyone home?
Well, last week the geniuses at BellRock said they may not release financials as promised June 14. However, they did not give stockholders a new target date to hope for financials to be released...
Is the data that bad? Is management that incompetent? Are CPAs intentionally dragging their feet?
I am hoping that once financials are finally released that we can trade this stock again in OTC regular channels...
Oh well, have a good weekend, GLTA in other stocks!
When BellRock? When will you have Financials?
BellRock announced June 11 they would not meet the June 14 release date for 2020 financials ending Dec 31. Over 5 months and NO data on how business is doing. No revenue releases. Nothing.
Then, in the announcement the company says "No material changes". Compared to what? When? You haven't told shareholders anything material in over 6 months.
BellRock management is not generating goodwill from investors or lenders. I don't know how they can survive a down turn at this point...
Fire sale coming? Sub Penny status? Grey market? Or delisting?
BellRock at least tell us new date for financial release... What is latest lie?
I'd say GLTA but this stock is past luck of any kind...
Self inflicted Death Penalty.
BellRock, you brought this upon yourself. Post financials.
Delisting is likely. SEC has been cracking down hard on OTC stocks that have been delinquent with their filings.
In a coma? Dead? Waiting for cremation?
BellRock mgmt is totally incompetent. It may take a while to figure out why this company cannot release the financials, what they are trying to hide. Seriously, with today's technology, working with a team of two people per subsidiary, you could align financial data in a month. Then consolidate it in a month. What is taking 6 months?
IF they don't report the financials soon, this will be DELISTED as a fraud.
This company is DEAD
after market on June 14, Release financials!
BellRock, you have lost ALL credibility. Are you releasing anything today?
I don't know if you can "short" a stock like this but expect to see it happening SOON if anyone can...
Shame on BellRock management.
bought 10,000 more shares. release Financials!
If BellRock releases financials by COB Monday, I'm betting the stock will rise next week. I am long on my LOSING position from before BellRock bought Dixie. Today's buy is simply a short term bet to recoup some of that loss.
I will let you know how I do!
GLTA. Hopefully, we will see lots of good financial data for last FY and first QTR of FY 2021.
"Hope is not a course of action. It is what you do when you haven't got a clue on how to move forward..."
Cmon BellRock, post financials
I bought 10,000 more shares today. Short term bet on BellRock to see if
1. Financials come out by Monday.
2. No serious problems with financials.
If those two conditions are met, DXBRF should bounce. If it does, I will probably take profit by next Friday.
Dixie is a sleeper
I’m holding a few more months just to see where this plays out with looming cannabis reform in Congress. The 30 for 1 split is another issue. This could play in BellRocks favor as it has for some other cannabis companies but it does suck because big moves will only translate into smaller returns.
Since BellRock (Dixie) is a somewhat established brand, the hope would be that cannabis reform would allow for bank loans and other financial vehicles that would prevent the need for raising capital via dilution.
Personally, I’m not committing any more money towards this mangy dog.
You Are right about Reverse split.
In January 2021, BellRock announced plans to do a 30 to 1 reverse stock split. At the time, DXBRF stock price was in the 15 cents a share range. Now, due to complete mismanagement of releasing financial data, DXBRF is in the 5 cents a share range.
If the financials release delay is truly only because of how difficult the company says consolidated returns will be this year due to M&A, the stock price should quickly return to 15 cents. And, then, move based on what the financials tell us.
If the financials are not good, then the stock price may go down.
If the stock price is still in nickel per share range, a 30 to 1 reverse split will not achieve same goal as it might have in January.
I don't like holding stocks during reverse splits. However, there might be money to be made in next week if you think that BellRock delay in releasing ANY financials for over 6 months is just because "it was too hard". Sounds like a child's response about why the dishes didn't get done. Still, I hope that is the real answer.
So, I am still torn about increasing my position tomorrow or just hoping to sell current shares for less of a loss after financials are released... HMM
GLTA (both of us)! IMHO only.
Still have 30 to 1 RS yet to come.
financials? I may buy some tomorrow.
Is it a good risk to buy some shares tomorrow as we approach financials deadline on Monday?
If no financials come out, this stock will go sub-penny. If bad financials, it may go sub-penny. If neutral or good financials, it may start recovery from dismal management over last YEAR!
I'm on the fence. ANYONE out there?
June 14 Financials release?
June 14 is now less than 2 weeks away. Will BellRock release long awaited financials from LAST year and this years first qtr results? Or, will this underwhelming management team miss another deadline?
I had great hope for Dixie. Not so much for BellRock but I did not expect DXBRF to go GREY MARKET.
It is time for BellRock to go full transparent. Put the financials out and let shareholders know what you have done.
If they delay again, this stock is definitely going sub penny. Then, who wins? Only BellRock if their plan is to take company back private...
I'm holding worthless shares... I wonder if BellRock even cares?
I agree with your premise that Bell Rock has breached it's fiduciary duty to both all shareholders after the reverse merger and especially the Dixie stockholders.
However, your contention that Dixie shareholders should have received 40% of new shares does not take into account how much DEBT Dixie had at time of merger. That debt may have made a merger necessary for Dixie's survival.
Bottom line: Dixie shareholders have lost significant money via Bell Rock horrible acquisition, long hold on any trading, and total mismanagement since purchase was announced.
Grey market now, sub penny next, and then Bell Rock will be bought up for next to nothing... The equivalent of marijuana SLAG.
Buyer Beware: Grey Market Stock!
According to OTC Markets, Bell Rock is a Grey Market Stock.
"Warning! Grey Market securities are not traded on the OTCQX, OTCQB or Pink markets. Broker dealers are not willing or able to publicly quote these securities because of lack of investor interest, company information availability or regulatory compliance."
In Bell Rock's case, NO FINANCIALS has led to this stock falling to grey market status. One step from JUNK status.
Bell Rock, you did this to yourself and your investors. FIX IT.
Sub Penny? Getting close! Stock traded for TWO CENTS a share earlier today. Who is selling at that price and why?
Sure would be nice to get financial announcement while waiting for official release. Something stating total revenue estimate for the two major brands would be helpful.
Otherwise, Sub penny here we come. Soon, we will need a 300 to 1 reverse stock split to achieve what a 30 to 1 reverse split might have accomplished.
Nice going Bell Rock.
Wow! This thing is going to sub penny
Dumped my shares at .12 was planning on re-entering but no freaking way will I ever buy this stock and I’ll never buy a Dixie/BellRock product again as well.
Sayonara Tripp and all the other losers at this company
Spoke to Investor Relations. Cody was informative and fun to talk to but he has a difficult client in BellRock. He told me what I had read through research about how "difficult" a combined financial report was going to be because 15 companies had to be brought under the same accounting system.
It has been 6 months since merger and 4 months since End of Calendar year. How long does something like this take? Apparently at LEAST 2 more months.
I cant risk any more money while this stock languishes in the GREY Market. Once financials are out AND the reverse stock split occurs, I will add then. Will I leave money on the table? Probably when financials are released there MAY be a bump. However, I have never made money when holding stocks that went through reverse stock split.
So, I wait and watch for about 6 Months to release financials and then get reverse stock split to finalize.
GLTA, make money elsewhere until October, then relook at this stock.
one Billion Shares!
Huge amount of warrants.
No Press releases.
No shareholder support...
I will ride it out. Dixie was company worth investing in. BellRock seems to not understand being a publicly traded company.
Dixie, what happened?
Back in the day around 2014 Dixie was a well known cannabis brand with great drinks and they were moving into the edibles space. The company expanded from CO to CA and a few other mmj states.
I was pumped to find out the company was publicly traded.
But over the past few years, the stock has sunk and for obvious reasons. Dixie’s presence in dispensaries has dwindled. The name change debacle has only further dragged this company deeper into the mud hole.
What a bummer!
No financials, date keeps slipping.
BellRock previously said they would post info, "namely within 120 days of year-end, being April 30, 2021 (the "Filing Deadline")."
"The Company intends to work closely with its auditor and is making every effort to file the Annual Filings in a timely fashion and expects to file the Annual Filings no later than June 14, 2021."
There is nothing "timely" about June 14, 2021.
So stockholders are left to wonder why the company cant announce financials for 6 months? Makes one wonder why?
My shares are worth so little it doesnt make sense to sell so I might as well ride this out. IF I had any faith in BellRock MGMT, I would throw a little money at this stock to see if it will bounce. But I dont.
BellRock, what happened?
I just sold. Took a big percentage loss. Didn't have much invested at all, so oh well. Bought in on the Arizona Tea deal. Horribly run and now they're talking about a CTO smh, no thanks. Good luck to the you and everyone!