Blum Holdings Inc (BLMH)

[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.

[Parapraxis]

Under 7 cents.
Not much left here.

[stockanalyze]

when the company has been teethering on bankruptcy, the insiders have been busy loading up free shares aka breach of fiduciary duty, abuse of control, self-dealing, corporate waste, and unjust enrichment. hope they gorge out all these free shares for doing nothing.

[ThomasAn]

Bernard E. Steinmann is the founder of People's ... I have a suspicion that when the litigation dust settles, he will take over the whole company. UNRV only has one important asset: public trading OTCQX, otherwise People's has no need of UNRV, they were doing fine alone. He let them fall on their greed and now is making a move.

https://www.corporationwiki.com/p/2kq0w1/bernard-steimann

[stockanalyze]

hope unrv does not spend a dime in defending these guys as the legal fees is real money that belongs to shareholders. unrv will simply drag this if they try to defend them and in my opinion people's will win this, so more waste in defending them.

the defendants are better off to settle immediately before it starts dragging the company and their own name down. it isn’t worth it.

defendants will make more money by keeping 10% of their shares as their shares at this point are in pennies and will trickle down close to zero and worthless. 10% is better than 100% as the situation stands and they aren't really losing money as these were free shares in millions and millions they gave to themselves on shareholders back, self dealing.

[stockanalyze]

this filing says ‘certain current and former officers and directors of the Company ‘. i assume it is likely eric, nicholas, uri, imbibo and others who have given themselves millions and millions and millions of free shares which is breach of fiduciary duty, abuse of control, self-dealing, corporate waste, and unjust enrichment. I have been saying it here all along. look it up.
people’s may be able to pierce the corporate veil and go after their personal assets. even if they sell all of their tens of million free and fraudulent shares, it would not pay for legal fees that they will have to pay out of pocket. unrv should also ask these current and former officers and directors to pay for any legal fees that unrv shareholders wll have to pay for them.
the smart thing for them would be to settle out of court and return 80-90% of shares they own so that unrv can have only 20% of outstanding shares.


On August 1, 2022, People’s California, LLC filed an action against certain current and former officers and directors of the Company, styled People’s California, LLC v. Nicholas Kovacevich, et al, in the Superior Court for the State of California, County of Orange Case No. 30-2022-01272843-CU-MC-CJC, derivatively on behalf of the Company and listing the Company as a nominal defendant alleging claims for breach of fiduciary duty, abuse of control, self-dealing, corporate waste, and unjust enrichment based on a series of corporate transactions and management decisions. The Complaint does not state a specific claim for damages. The Company and the individual defendants have not yet responded to the Complaint and the Company is evaluating the claims.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1451512/000147793222005663/unrv_8k.htm

[02opida]

8/15 nearing

[darthcannabis]

8-K shows one litigation action filed by Fusion against UNRV, and another filed by People's against Nicholas Kovacevich, et al. Kovacevich also on Board of GNLN, which is about to perform 2nd rs in ~2 years Seems like only thing NK does is draw a salary while driving companies into the ground.

[02opida]

SANTA ANA, Calif., Aug. 05, 2022 (GLOBE NEWSWIRE) -- 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.

Eric Baum, Chairman of the Board of Unrivaled Brands, stated, "In the company's initial communications to shareholders in May, we indicated our immediate focus was on our 100-day plan to stabilize operations, protect our performing assets, create a sustainable debt position, and put us on a path to profitability in an increasingly challenging industry and troubled California market. I am pleased to announce progress against this plan - though humbly recognize that there is still significant work ahead of us.

"Beginning in March we conducted a thorough review of the company's balance sheet and determined the health and sustainability of each of our business units. In Q2 we took decisive action to meaningfully reset the cost structure including tightening operations, improving financial systems and controls, and restructuring our debt.

"We have since closed several under-performing assets, significantly reduced management and workforce positions, reducing our SG&A run rate by about $5MM a year. We have shifted our strategy to focus on operations in Oregon, our retail stores in Oakland and Santa Ana, and the marketing and licensing of Korova, which remains one of the most sought-after brands on the West Coast.

More specifically, the Company has completed the following:

Outsourcing Distribution. In June 2022, Unrivaled partnered with a leading North American distributor of cannabis and cannabis accessories, with a strong fulfillment infrastructure, to manage distribution of its brands, while simultaneously exiting third-party distribution engagements which were negatively affecting cash flow.

Closing Under-Performing Retail. Unrivaled closed underperforming retail locations in Los Angeles, San Leandro, and Sacramento, California. Where possible, assets from these sites have been deployed elsewhere to support other business operations. The company is actively marketing the closed assets and licenses.

Reduction in Management and Workforce. As of Aug 1, 2022, Unrivaled headcount is 188 versus 338 at the end of Q1 2022. Much of this reduction came from site closures and reduction of corporate headcount. Overall, payroll has been reduced by roughly 40%, with a focus on bringing payroll spend within a healthy range in line with the go-forward size of the Company.
"We want to assure the community that we are committed to continued progress while being realistic about the headwinds we face in the cannabis industry and capital markets. We also realize efforts such as these take time and believe that we have only just begun to establish a new baseline to grow from. Moving forward, we are focused on stabilizing and growing operations, improving the balance sheet and debt restructuring. We are also actively reviewing options for additional sources of capital and potential mutually beneficial partnerships in order to navigate through the current landscape. Simultaneously, we are considering experienced candidates for CEO and expect to share more detailed updates in the coming weeks and months. In closing, I want to express gratitude for the team in place for their commitment to the restructuring effort and their tireless work during this time." concluded Baum.

About Unrivaled Brands

[ThomasAn]

Yeah, yeah, we know bud ... that's stuff I was bubbling about a little while ago. With those numbers the CEOs shouldn't be fired or quiting.

[29YEARINVESTOR]

LoL! Time will tell!
Unrv was up 271% q2-q3 fastest growing in cannabis market...
Beat them all !!!

The Company’s gross profit for the three months ended March 31, 2022 was $6.43 million, compared to a gross profit of $0.19 million for the three months ended March 31, 2021, an increase of $6.24 million or 3,268.1%.

https://ir.unrivaledbrands.com/news-events/press-releases/detail/334/unrivaled-brands-reports-first-quarter-2022-financial
During the three months ended March 31, 2022, the Company generated total revenue of $20.73 million composed of retail revenue of $12.11 million and cultivation/distribution revenue of $8.62 million. This compared to total revenue of $2.06 for the quarter ended March 31, 2021
which included retail revenue of 1.70 million and cultivation/distribution revenue of $0.36 million. [
This was an increase of 907.5% in total revenue.

Unrivaled Brands (OTCMKTS:UNRV) has a recorded annual revenue of $47.67 million.

[ThomasAn]

You recently got in, or did you ride it down ?

In my view it's getting sketchy. We have two CEOs being either fired or resigning within a year. There is probably some internal fighting going on. I suspect Imbimbo fired Frank and then Tiffany either couldn't hack it, or saw danger and had to leave before earnings.

In my view, given the uncertainty, it's no longer an investment, it's more like gambling. I mean the assets are real, but this company is like a drifting ship with no management continuity. Their cashflow is done, Frank started using toxic financing, they likely can't hire an outsider (any high profile CEO, would have high profile salary demands they can't afford).

Also someone posted this on the yahoo forums, that's kinda worrying:

1. Tiffany Davis became a director under the TRTC ticker on April 8 2021.
2. At that time she was also CEO of Generation Alpha Inc. (GNAL)
3. Generation Alpha Inc last sec filing was on Aug 12 2021
4. Generation Alpha Inc website was down on Sep 28 2021 and has been down "under maintenance" to this day.
5. Since GNAL has missed all SEC filings for a year and has no functional web presence, we can assume the company is not in operation. So, Miss Davis was NOT too busy being a CEO at GNAL that she could not finish the quarter here.
6. Eric Baum joined as a director on July 13 2021. Eric Baum lists 17 companies on his Linkedin page, several of which as a director, but does NOT mention Unrivalled; even though he has visited and posted on linkedin since last year.

Basically:
The current chairman of the board is not proud enough of his association with UNRV to list it on his linked in ... and Tiffany Davis has no linkedin page at all, her previous company is not in operation and she abruptly resigns UNRV three weeks before the Q2 deadline.

[29YEARINVESTOR]

I hold over 3 million shares here!
I certainly hope unrv has good earnings!
The question is why did the ceo resign?
https://unrivaledbrands.com/

[ThomasAn]

All nice and such, but the company fired the CEO that did all this. They were running out of cash and he started using toxic financing. They had an interrim CEO in the past three months that also resigned just a week ago. Currently there is no CEO. The company is in flux. If they find someone good in time then it will ne saved.

[02opida]

Jan ~ Mar 2022 News

s
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
2022-01-10 08:00 U:UNRV News Release Unrivaled Brands Announces Participation at the H.C. Wainwright 2022 BioConnect Conference To Be Held January 10-13, 2022

[02opida]

morning UNRV'ers

[02opida]

21 NEWS

2021-12-13 08:30 U:UNRV News Release Unrivaled Brands Announces Agreement to Sell Inoperative Dyer Property for $13.4 Million
2021-12-08 08:30 U:UNRV News Release Unrivaled Brands Announces Grand Opening of People ’s Downtown Los Angeles Location
2021-12-06 09:00 U:UNRV News Release Unrivaled Brands Announces First Harvest from Oakland Cultivation Facility
2021-11-29 16:05 U:UNRV News Release Unrivaled Brands Announces Successful Closing of Acquisition of People ’s First Choice
2021-11-22 09:00 U:UNRV News Release Unrivaled Brands, Inc. Announces Successful Sale of Interest in Joint Venture with NuLeaf
2021-11-15 16:12 U:UNRV News Release Unrivaled Brands Reports Third Quarter 2021 Financial Results
2021-11-09 09:00 U:UNRV News Release Unrivaled Brands, Inc. To Report Third Quarter 2021 Financial Results
2021-11-04 08:15 U:UNRV News Release Unrivaled Brands Expands Product Offering Through Exclusive Distribution Agreement with Life Cannabis Co.
2021-11-02 08:30 U:UNRV News Release Unrivaled Brands Announces Launch of SilverStreak Bay Area Distribution Hub
2021-10-25 09:00 U:UNRV News Release Unrivaled Brands, Inc. Signs Exclusive Distribution Agreement with Humboldt Farms
2021-10-12 09:00 U:UNRV News Release Unrivaled Brands, Inc. Issues Letter to Shareholders
2021-10-05 09:00 U:UNRV News Release Unrivaled Brands Announces Successful Closing of Acquisition of SilverStreak Solutions
2021-09-23 12:38 U:UNRV News Release Unrivaled Brands To Participate in Upcoming Investor Events
2021-09-15 08:30 U:UNRV News Release Unrivaled Brands Launches New State of the Art Cultivation Facility
2021-09-13 08:30 U:UNRV News Release Unrivaled Brands Partners with Amuse for Direct-to-Consumer Delivery of Korova Across California
2021-09-07 08:30 U:UNRV News Release Unrivaled Brands Zooming With LD Micro on Thursday, September 9th at 8am PST / 11:00am EST
2021-09-02 09:00 U:UNRV News Release Unrivaled Brands Announces Management Agreement Pursuant to Acquisition of People ’s First Choice
2021-08-30 09:15 U:UNRV News Release Unrivaled Brands Issues UMBRLA Audits and Pro Forma Results Following Close of Merger on July 1st
2021-08-18 08:30 U:UNRV News Release Unrivaled Expands Offering Through Exclusive Distribution Agreement with G-Eazy ’s FlowerShop* Lifestyle and Wellness Brand
2021-08-16 16:05 U:UNRV News Release Unrivaled Brands Reports Second Quarter 2021 Financial Results
2021-08-16 16:00 U:UNRV News Release Unrivaled Brands Executes Agreement to Acquire People ’s First Choice and Significantly Expands its California Retail Footprint
2021-08-11 08:00 U:UNRV News Release Unrivaled Brands, Inc. Announces Successful Sale of 4th Street Property in Las Vegas
2021-08-10 09:00 U:UNRV News Release Unrivaled Brands, Inc. To Report Second Quarter 2021 Financial Results

[02opida]

August is Green :)

[02opida]

UNRV Q2 Earnings Announcement 08/15 according to Ameritrade.
Will it be higher or lower than last qtr $20.7 million? Predictions only!
I predict $22.3 mil with higher margins

[02opida]

Hi UNRV

[02opida]

got some

[ThomasAn]

Davis resigned last week. Nobody is officially running the company. Eric Baum is the likely ranking member as cherman of the board. Why did Davis accept to be CEO if she couldn't hack it ?

https://ir.unrivaledbrands.com/sec-filings/all-sec-filings/content/0001477932-22-005439/unrv_8k.htm

[ThomasAn]

House Passes Bipartisan Marijuana Research Bill, With Senate Expected To Send It To President Soon

https://www.marijuanamoment.net/house-debates-bipartisan-marijuana-research-bill-with-vote-expected-imminently-before-heading-to-the-senate/

[Parapraxis]

Finished in the .07s.

[stockanalyze]

looks like no one believes this bill will pass the way it is but they may yield to safe banking. i am not sure though if unrv could jump even with safe banking, management has not been what it should be.

[stockanalyze]

https://www.marijuanamoment.net/schumer-commits-to-bipartisan-work-to-pass-marijuana-reform-this-year-after-legalization-bill-unveiled/

[ThomasAn]

We get to find out how good is this CEO at managing expenses, or if it's all just talk.

[WalktheWalk]

UNRV Q2 Earnings Announcement 08/15 according to Ameritrade.
Will it be higher or lower than last qtr $20.7 million? Predictions only!
I predict $22.3 mil with higher margins

[stockanalyze]

wait when they issue 50 million shares to themselves and fok everyone , they are very capable of it, they have tanked this multiple times and even name change did not do anything.

[stockanalyze]

will have no effect on trtc/unrv as insiders are busy giving free shares, fully vested to themselves.

[Parapraxis]

Is today the day it drops below.08?

[merushn]

CA Cultivation Tax Elimination, Meaningfully Eases Pricing Pressures And Likely Drives Consolidation

https://www.benzinga.com/markets/cannabis/22/07/28053157/ca-cultivation-tax-elimination-meaningfully-eases-pricing-pressures-and-likely-drives-consolidat

[JMCK6193]

Peterson's wife still running this POS?

[stockanalyze]

more free stock options issued this week that were fully vested on July 7, 2022. shareholders continue to be looted by insiders. for doing nothing.
https://www.sec.gov/Archives/edgar/data/1451512/000147793222004876/xslF345X03/form4.xml

https://www.sec.gov/Archives/edgar/data/1451512/000147793222004877/xslF345X03/form4.xml

[stockanalyze]

more free stock options

[TheCreepyCracker]

https://www.marijuanamoment.net/bipartisan-lawmakers-file-even-more-marijuana-and-psychedelics-reform-amendments-to-defense-bill/
You just might be right about that. Article just out.

[TheCreepyCracker]

https://www.marijuanamoment.net/bipartisan-lawmakers-file-even-more-marijuana-and-psychedelics-reform-amendments-to-defense-bill/
You just might be right about that. Article just out.

[Sonnyusa]

Good

[Ronin]

Even if LVVV feta all licenses after the pop on news, it will come down agsin just like all MJ stocks. Fed needs to chsnge laws

[Ronin]

Even if LVVV gets all licenses after the pop on news, it will come down agsin just like all MJ stocks. Fed needs to chsnge laws

[BidnessMan]

JB will legalize, he has no choice.

[stockanalyze]

once few shares are filled at that price, they will pull off the bid. probably insiders lowering prices to load up on more free stock options. they never change, free shares to themselves is all they think day in and out.

[merushn]

GTSM has. been on the bid L2, 1,201,454.00 shares @ .0793 = $~94,915.00 since open today. Never seen this amount on level 2 buy side for unrv. Surprisingly price has held so far. Somebody know something?

[stockanalyze]

you are stoned. keep it, it may affect the sales a bit. dropping 5% everyday. won't take many days to touch 0.00

[Ndhole]

Touche' not all of us!!

[stockanalyze]

you are like, hey, robinhood dropped 90% so we should too. you forget how much frank touted balance sheet, acquisition of people's claiming 130 million revenue, that legalization is not good for unrv, loaded insiders with 10 million and 20 million shares for free and destroyed all the cash on the balance sheet and then all of them got 6 month handsome pay when they left .
give it up, we are not elementary school kids here.