Blum Holdings Inc (BLMH)

[29YEARINVESTOR]

Wow UNRV up 15% it took the whole 100 days

[stockanalyze]

are we done here? clock is ticking every second

[stockanalyze]

sitting at all time low of 5 cents, what shit is this about 100 days? it says may, that is more than 100 days already. more lolipops. they have done nothing in decades and even changed the name. the thing they need to do is to return all of the ill gotten shares as a first step. that baum guy has been issuing himself free shares every month.

https://www.proactiveinvestors.com/companies/news/989392/unrivaled-brands-makes-brisk-progress-on-its-100-day-turnaround-plan-and-focuses-on-growth-989392.html

[stockanalyze]

if you mean no settlement, it is defendant's choice, it is a slam dunk for people's to prove breach of fiduciary duty, abuse of control, self-dealing, corporate waste, and unjust enrichment , i and others have been saying the same here, it is obvious. they have issued themsellves 10 million, 50 million shares and issued shares to themselves on monthly basis. free shares, fully vested. if am a jury, it is a slam dunk for plaintiff's. would be stupid to drag this and lose in the end and shareholders lose. in this case, imo, they will pierce the corporate veil considering the fraudulent history of this company.

[Parapraxis]

Yeah, that’s not gonna happen.

[stockanalyze]

i do not know what you mean. the company changed its name and swindled people's. peoples suit has merit and i can see them going after insiders personal wealth they have accumulated, easy here. the trick is to settle quickly so everyone wins.

[JMCK6193]

All goes back to Peterson and his wife...

[stockanalyze]

every employee, director of this company should stand against breach of fiduciary duty, abuse of control, self-dealing, corporate waste, and unjust enrichment as people's filed a case against tetra. the corporate veil must be pierced for fraudlent shares insiders have enriched themselves with and took control of companies like people's effectively bankrupting profitable companies that they acquired.

[Parapraxis]

Insiders are spending their money.

[Parapraxis]

Sinking fast now.

[stockanalyze]

if they sell the company, the price has to be above $0.40/share as people's stock option are worthless below that and they gave away their company in free and down to toilet. wonder what the insiders are upto?

[stockanalyze]

wonder why new ceo is getting paid $150K per month for?

[stockanalyze]

everyone loses here , only way is for insiders who loaded millions and millions of free shares must gorge them. otherwise the corporate veil will be pierced by people's as they have been taken for a ride. they touted opening of new locations and now closed.

[ThomasAn]

An idea has been floating around that cannabis stocks will NEVER have value, by virtue that they are a cash business and they learned the black market trick of not reporting all their sales. So a number of their transactions will always be invisible (written off as spoiled inventory and such).

This way their books are still correct (since under the table transactions are invisible) but the revenues look lower for tax purposes.

Even if legalized federally, they are better off selling under the table.
If this argument is true then this is a bad sector to own stock. EVER.

[mjh4]

Hey does TerraTech ever go up lol

[stockanalyze]

even name change did not do anything. only hope is they give up free shares that they got and stop the bleed. otherwise hopeless.

[JMCK6193]

Doesn't matter if they do now or next week it's still a POS that's been poorly managed for yearsssssssss now. To many other pot stocks out there that are much better investments. This POS will continue to drop imo.

[stockanalyze]

the insiders with 50-100 million free fully vested shares are still positive until this trades in negative. they need to give up all these free shares, quick.

[stockanalyze]

means nothing. did you see how much he is paying himself monthly? when company is going under.

[JMCK6193]

Blah Blah Blah this POS still trading? I was here 12 or so years ago when it was TRTC and share price was much higher than it is now. Hilarious ....now look at it under 10 cents tooooo funny.

[ThomasAn]

Interesting move by Sabas. The new board of directors will have some diversity and will include representatives from current employees and also shareholders; bringing those viewpoints to the board.

[Jc29]

55 million dollar write down lol

[kevindenver]

Heck it'd be nice if $UNRV could drum up enough support for simply a moderator on this forum.

[TheCreepyCracker]

UNRV searching for individuals to serve on BOD. Here’s your chance to stop being an arm chair quarterback and get into the game. Let me know how it goes for you all. And y’all know who I’m talking about .

[merushn]

I forgot to mention
I am a trend trader. If I did my diligence on unrv I would probably not acquire such a large position. Theory of large numbers has worked wonders for me. Old wives tail ...rising tide floats all boats...i have all the old wives I can afford.. etc, etc
Thanks for helping me clarify my tide tables.
Have a wonderful day.

[merushn]

Agreed. I've been macro for to long. Unrv, Just my "hope" investment.
Cya

[kevindenver]

At the marco level sure, but this is a stock board, so my observations are at the dispensary and vertical integrated firm level. Thus far and currently the industry revenue growth is spread out among many unprofitable firms of which $UNRV is one of many.

Consolidation is starting to fix that and improve the economies of scale and spread out the SG&A and compliance costs.

Keep the faith brotha, someday ya'll will turn a profit on the revenue... or not.

Compound annual growth rate world wide medical 20.9% until 2027. Medical and recreational 2026 = ~ 90 billion. Now California represents largest weed market in the world @ 5.2 billion in 2021 with only 866ish licensed dispensaries. Bla, blah, blah, unrv is worth 60 million plus so it will fit in somewhere.

[merushn]

Welp
Compound annual growth rate world wide medical 20.9% until 2027. Medical and recreational 2026 = ~ 90 billion. Now California represents largest weed market in the world @ 5.2 billion in 2021 with only 866ish licensed dispensaries. Bla, blah, blah, unrv is worth 60 million plus so it will fit in somewhere.
Thanks for response.

[kevindenver]

I'll be interested in the comparables as it appears cannabis is no longer a "growth" industry on the dispensary level.

[merushn]

TdAmeriturd update.
Actual earnings for Q2 unrv. Aug 22 @ 4pm eastern.
Must have 50 shades of lipstick.

Tx

[kevindenver]

Agree, he best get out the lipstick as my guess is the comparables will be ugly. Such a shitty time to be a dispensary operator and I don't see much on the horizon to change that. Especially California.

Will this be a full 4 quarters of post "merger" data?

[02opida]

morning UNRV > Good News today UNRV

[02opida]

SANTA ANA, Calif., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Unrivaled Brands, Inc. (OTCQX: UNRV) ("Unrivaled" or the "Company"), a multi-state vertically integrated cannabis company with operations in California and Oregon, named Sabas Carrillo as Interim Chief Executive Officer effective Friday, August 12, 2022.

The appointment of Sabas comes on the heels of Unrivaled's previously announced 100-day turnaround plan and strategic restructuring. "We are energized to build upon the restructuring plan implemented by the Unrivaled team and are well-positioned to focus on executing the Company's ongoing business transformation, driving revenue, and scaling the Company to benefit the Company and its investors.

Sabas is a seasoned CEO with an extensive financial and accounting background, and deep roots in the cannabis industry. With his unrivaled track record, Sabas has helped lead public and private cannabis companies through restructuring, growth, M&A, and successful exits since 2009. He is the Founder and CEO of Adnant, LLC, an accounting and consulting firm advising cannabis companies on technical and operational accounting, strategic transactions, and the public offering process since 2011.

Sabas served on the go-public team for Weedmaps and General Cannabis, Inc., a publicly traded company from late 2009 to 2012. An SEC financial reporting expert with comprehensive capital markets experience, Sabas led the team that took Blum Oakland through a public offering on behalf of Terra Tech Corp. in 2014 (now Unrivaled)- the first plant touching, vertically integrated company to enter the public markets. His appointment as Interim CEO of Unrivaled brings Sabas' involvement with the Company full circle. Sabas helped guide MedMen Enterprises, Inc., the first publicly traded multi-state operator, from late 2017 to 2019 to acquire 53 companies and effectively supported them through the rollup, audits and integration efforts.

Sabas has served as Interim CFO for Cookies Creative Consulting & Promotions Inc. since April 2018. He is a co-founder and general partner of two cannabis-focused funds: Mesh Ventures and 1212 Ventures. He also serves as Chairman of the Board at Operators Only Corporation, a California based cannabis retail company focused on combining the most iconic brands and proven industry pioneers in California. Operators Only has entered into a definitive agreement to effect the rollup of Cookies Maywood, Cookies Oakland, Cookies Sacramento, Cookies Redding, Lemonnade Sacramento, and Lemonnade South Sacramento.

Among his recent advisory roles, Sabas' clients have included: GlassHouse Group, Loudpack, GTI, NorCal Cannabis Company, Beboe, Acreage Holdings, Verano Holdings, Shryne Group, and Highland Events, co-producer of Grass Lands (first cannabis licensed concessions at a major music festival, Outside Lands Music Festival).

"Sabas brings his experience with M&A and knowledge in the capital markets to Unrivaled, where he is tasked with advancing the Company's transformation plan, focusing on execution, improving the balance sheet, and moving toward profitability in the current landscape. His intimate knowledge of the Unrivaled assets and his decade plus history in the extraordinarily competitive California cannabis market is why we believe Sabas will be successful and we fully support him in his efforts," said Eric Baum, Chairman of the Board of Unrivaled.

[merushn]

So 10k in 5 days August 19? New guy wants to use his own words is my guess....

[kevindenver]

The incompetence continues ... but hey they hired another "interim" CEO.

FORM 12b-25
NOTIFICATION OF LATE FILING

https://www.sec.gov/Archives/edgar/data/0001451512/000147793222006139/unrv_nt10q.htm

[02opida]

SANTA ANA, Calif., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Unrivaled Brands, Inc. (OTCQX: UNRV) ("Unrivaled" or the "Company"), a multi-state vertically integrated cannabis company with operations in California and Oregon, named Sabas Carrillo as Interim Chief Executive Officer effective Friday, August 12, 2022.

The appointment of Sabas comes on the heels of Unrivaled's previously announced 100-day turnaround plan and strategic restructuring. "We are energized to build upon the restructuring plan implemented by the Unrivaled team and are well-positioned to focus on executing the Company's ongoing business transformation, driving revenue, and scaling the Company to benefit the Company and its investors.

[02opida]

Green week a coming here

[stockanalyze]

but with declining prices, almost 5% each day, which is not good. if it was with increasing prices, would be different.
this is their last chance , investors don't have an appetite to wait another 4 months for next q report and by that time most funds will be spent in legal wrangling, they need to get their heads checked fast and hope 2q report is solid.

[02opida]

not a bad Volume this past week

[ThomasAn]

On that Glassdoor link, the 2.2 score is for the company. If you look at the CEO icon he actually has 0% Approval. (I think Derek Peterson had 58% by his own employees)

[stockanalyze]

Sabas Carrillo receives a 2.2 score for his reputation as a CEO of Adnant:

1. Not a good place to work: No direction, no guidance, company trying to accomplish too many tasks instead of focusing one one, no HR.
2. Salaries are based on if you are friends with management. You will work long hours. Benefits are not good. Toxic work environment. High turnover. Advice to Management: Its one thing to say you want people to speak freely but its another thing to create an environment where they can. We have lots of complaints that we don't feel like we can really speak up about.
3. Stay away: Terrible managers. Ceo likes to boast a lot and demotivate staffs. With covid Ceo still want a Christmas party and forced all staffs to attend. You must play the stupid game or they make your life miserable. They do not do what they promised you. Very under paid and make you work like slaves. Managers and ceo don't have experience running a company. They talk a lot and do nothing. All empty promises.
4. Unorganized, and a discriminatory culture.

https://www.glassdoor.com/Reviews/Adnant-Consulting-Reviews-E2891979.htm

[stockanalyze]

another 100 million shares to themsleves

[stockanalyze]

look at the sg&a numbers. too high. have they been buying private jets? auditors need to examine each and every thing they swindled from shareholders, not just shares.

[ThomasAn]

Sabas Carrillo is the fourth interim CEO in a year.

1. Matt Morgan lasted a month and run out like the wind
2. Frank Knuttel lasted six months did some big moves but got fired (by Kovenich, I think). He was also using shares to finance operations by Dec 2021 despite the positive image he was giving to the investors.
3. Tiffany Davis lasted three months and run out like the wind
4. Sabas Carrillo (specializes in mergers and acquisitions and is the guy that did the TerraTech IPO ten years ago) ... to be seen what he does with the company. On the bright side he knows how to keep it from being delisted and knows to navigate the merging and reverse merging process.

[Parapraxis]

A little more dilution.

[TheCreepyCracker]

Oh good . A new CEO was named. Sabas Carrillo. He’s experienced at successful exits and public offering.
I wonder what ahead for us now.

[02opida]

2022

2022-08-05 08:30 U:UNRV News Release Unrivaled Brands Issues Corporate Update
2022-05-16 16:10 U:UNRV News Release Unrivaled Brands Reports First Quarter 2022 Financial Results
2022-05-04 08:00 U:UNRV News Release Unrivaled Brands Issues Letter to Shareholders
2022-04-18 08:00 U:UNRV News Release Unrivaled Brands Reports Fourth Quarter and Year End 2021 Financial Results
2022-03-01 08:00 U:UNRV News Release Paradise Smokes Partners with Unrivaled Brands for California Distribution
2022-02-23 08:30 U:UNRV News Release Unrivaled Brands CEO Frank Knuettel Sets 2022 Growth and Operating Strategy
2022-02-17 08:15 U:UNRV News Release Unrivaled Brands Expands Oregon Footprint with Launch of Advanced Cultivation Facility
2022-02-10 08:30 U:UNRV News Release Unrivaled Brands Closes Sale of Dyer Property for $13.4 Million
2022-02-08 08:15 U:UNRV News Release Unrivaled Brands CEO Frank Knuettel II and General Counsel Joseph Segilia to Participate in Webinar “Hot Topics in Cannabis: Do ’s and Don'ts in a M&A Transaction ” on February 16, 2022
2022-02-07 08:15 U:UNRV News Release Unrivaled Brands Expands Product Offering Through Distribution Agreement with POTTERS Cannabis Co.
2022-01-24 08:15 U:UNRV News Release Unrivaled Brands Named to 2022 OTCQX Best 50
2022-01-18 08:15 U:UNRV News Release Unrivaled Brands to Webcast Live at VirtualInvestorConferences.com January 20, 2022

[02opida]

Unrivaled Brands, Inc. (OTCQX: UNRV) ("Unrivaled" or the "Company"), a multi-state vertically integrated company focused on the cannabis sector with operations in California and Oregon, today provided a corporate update related to its previously disclosed 100-day turnaround plan and strategic restructuring to reduce costs, drive efficiency, and identify a path to profitable growth.

[stockanalyze]

now those 100 million free stock option shares obtained for doing nothing are now worthless. great business acumen it shows, when you prematurely dilute the value for personal gain by issuing millions and millions of free shares and fully vested. gets to show you where their focus is . these lawsuits are not worth it for anyone except lawyers and would bankrupt the company and them on personal level. time to settle immediately before it crashes further. safe banking has some movement and need to capitalize on it but the slide is continuing here.

[TheCreepyCracker]

Under 2 posts a day on this board. I’d say not much left in the gas tank here. This board is done.