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I’ll have to agree. A newly listed company can simply dilute to raise cash with an imaginary prospectus if they really needed to.
I’ll ride this for a bit and seen what the next Q looks like. Hopefully they issue some forward looking marketing and growth plans prior.
What other research paper would you like besides their financials?
I'm not trying to divine their birth rights by the stars..
Looking at their reports gives me ample information of what's going on inside..
You are the one clinging to fear mongering through rumors at a lunch table you said?
Yea your research is so much more solid than looking at financial activity..
Research is studying multiple sources of information then determining the correct course of action. Using the publication of Cons 10Q is like watching Fox News to determine who should be the next president
LOL looking up and reading a report and pulling out information that backs you... That's not research? Are you dense? Do you need help researching the word dense? Should I research the word research for you?
I've brought in research, the only thing you've brought in is menacing feelings toward the company that's been on the market for about a year or so..
Sooooo yea gonna call BS when I see it
That's not research, that's reading what Con wrote. Read between the lines, revenues are down, losing key customers, and bleeding capital.
LOL
I'm sorry you dislike people using the report to support their decisions?
Is that a bad thing? Cause I've always been under the impression more research the better usually haha
Sounds like a company insider publishing the 10k in the message board. I don't trust your comments
Sounds like some people have a reason to want them to fail for whatever reason..
Company showing revenue streams decent ones, and you pretend like they just want to shut the doors..
What company especially one that can operate via stock, closes the doors when they just started the company, and are making increasing revenues and redesigning their machines for higher efficient and better customer feedback..
Each trade show they go to, I'm very sure, there are small growers in newly legal states after their machines.. to be able to make wax carts with nothing except the customers plants and the 710 machine they can start making large amounts of cash from a single plant.
So yea, for a new industry to have this machine and for them to go around updating and showing it off at the wax shows and stuff..
Yea I'm pretty sure the company isn't close to dead.. no one wants to sell their shares because they know a companyOVER a dollar in share price and with a low float and a real business.. and especially one who just finished their reverse merger to get their own company back ..
PLUS they've been paying off their loans and paying down other interests on their books, as noted on their report...
So I don't know..
This really does seem to scream legit, yea their volume is dry, but that's something a little news can help take care of clearly what a lot of investors holding here are waiting for otherwise the price would have tanked down to single digits and they'd be frantically PR'ing the hell out of the country to try to stay afloat.
The fact they know their volume is low and are not selling shares is infinitely better than a lot of companies in the OTC... And Jksm is a QB company so we know their financials are way more solid than solo pink tickets.
I'm gonna buy some small stacks and see how it goes. I imagine some resistance from some of you on the ask, but all in all, I guess I'll keep this test small and see how we go!
So I guess long answer short, yea I guess I will buy in before the quarter ends, won't announce what day, cause I know how these board work against each other all the time!
After all with each state legalizing every week, not literally.. they have new customers available to them with each week that has cannabis and hemp pass!
Than why would someone who has never bought stock nor worked for the company create an account on Ihub 2 days ago to start posting on this particular company? There is something at play here.
Personally, that is not how I spend my free time unless I am getting something out of it. So that in itself is a red flag.
Secondly, regardless of how you want to look at the fundamentals, if this company wants some cash, they will post some BS news to get this stock moving, than sell shares to raise capital amongst other ways.
So right than and there this ticker has value.
I'm right here with you in the trenches. Just have to watch and see what happens
Sorry to burst your bubble. I have never worked for this company or bought their products. I'd advise you to stick to the fundamentals.
Take care.
Sounds like you have it all figured out. Only a few gaps you might want to look into:
Are they are making money on anything, machines or pens? Not revenues, income.
Do they have real IP?
Do you understand the difference is between Convectium's machine and the FT-F003 Machine that sells for $6,400.
Does Convectium's IP pre-dates this machine?
Do you know who is building Convectiums machines?
Do they have a single repeat customer?
Call the office. Does anyone pics up?
Did it occur to you that their trading volume is so low that it's virtually impossible to move a block of shares without the price going to zero? The investors are stuck.
Have you looked at the buy/sell spread?
Do you know they spent real capital to develop their machines?
What management is doing to fix the problem and grow the company?
Let me know if you see these guys attend another trade show.
Have you talked to any of the employees?
Are you adding to your position?cOr are you waiting for the updated numbers to come out in about 6 weeks?
I'm no longer long so I have nothing to gain or lose. Just being real.
For your sake, I hope you are right. I only recommend caution. Do your homework and draw your own conclusions. You'll know so much more at the end of the 2nd quarter.
I'm out. good luck.
Cheers. My hat is already in and severely underwater.
Maybe I’ll give the company a call one of these days, go thru the company directory, and see if anyone answers.
Even if he is a former disgruntled fired employee, that doesn't change the fact the company can still go plenty of places without em.
If he is a disgruntled employee would why want the company to do well?
Why would a company that can sell plenty of shares (low float coupled with over a dollar share price...) Yea I don't see BK happening
So either disgruntled employee who just wants the company to sink, unlikely due to the amount of shares they get, why would they tank their own shares, especially if volume isn't high enough to liquidate, or it's pure lies and conjecture like you say
*Based on shares they would have from time in position and payments etc*
I'm gonna go with lies, sorry maybe I'm wrong and I get burned down the line but I think i may toss my hat in this race
Maybe he’s a former disgruntled employee. His attacks seem personal and knowledge of on-goings throughout the company, office behaviors and payroll shortfalls, seem privy.
That or it’s conjecture and pure lies.
Machine Vs consumable revenue, pulled from 10K
Total revenue during the three months ended March 31, 2019 increased to
$1,624,254 (comprised of machine sales of $643,002 and consumable product sales of $981,252)
compared to the three months period ended
March 31, 2018
which produced sales of
$1,310,856 (comprised of machine sales of $773,405 and consumable product sales of $537,451).
Sales of growth of $313,398 or 24% was primarily driven by the increased sales of consumable products, such as cartridges, batteries, and disposable pens. (*So why would they stop selling consumables if they are making money? They wouldn't so don't believe the fake stuff!)**
What I get from this is machine sales slowed down because they made a lot of initial sales and now they are supplying the carts and so on and making money that way as well.
The main point is, it's a sprouting business in a VERY early position in a large and quickly growing field
Everyday more states become legal with medical and hemp, then a bunch of small companies invest in this exact tech, because they saw it at the trade show close to their state and their state is legalizing.
So the potential growth here is VERY high.
With how low the float this seems like a pretty solid buy..
I mean I expect some dilution if sales doesn't pickup right away, but theirs no way they are going under.
They have real equipment that took real capital to make
Pulled from their 10K
So why would BK come before raising extra capital?
The shares are over a dollar right now, I'm pretty sure they could sell shares if they want ..
The main thing is they aren't, at least not unless things get bad, but they seem to be trucking along fine at trade shows which leads me to believe they are doing quite well for themselves without worrying too much about sell shares.
The Company may experience a cash shortfall and be required to raise additional capital.
Historically, it has mostly relied upon convertible notes payable and cash flows from operations to finance its operations and growth. Management may raise additional capital by retaining net earnings or through future private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse effect upon it and its shareholders.
sing still owns their shares in jksm
And trust me they would be the first ones to sell out if they were going under... (Even if it tanked the price out of this dollar zone)
So yea don't see the company going under if Sing hasn't sold out of their shares by now..
Just one person's opinion I guess
Where is that announcement at? It doesn't say anything about not selling their carts in any of their reports and so on.
In fact with a low float like this all they require is a little PR and they'd be rolling up their shipments I'm sure.
They are still taking their 710 series to trade shows and supplying their consumables, they are still making deals and it even states in their report that they have money still coming in from finalized sales and so on
It DOES say they have increased expenditures related to a larger sale team, which makes sense, if you have an actual product, not somebody else's product with your name slapped on it, and one that is a piece of technology that actually works.. yea it's hard to say this company has no value and is going BK...
The only BK they are going is to Burger King so they can lower their expenditure cost haha
But seriously, they are still active with their product, they redesigned it to work more efficiently then before, and they offer good customer support for 3 years on their machines.. that's quality backed by a sound warranty.
But I digress, as the markets open up, they will continue to sell more and more machines to niche cannabis cultivators and shops wanting in... And of course hemp cartridges
Besides that Sing owns part of this company and I'm pretty sure Sing wouldn't have invested in them, mind you this would of been before Sing decided to just skate by, without them being capable of promoting themselves well.
At least my two cents
They made a decision to stop selling cartridges and pens; so they only sell filling machines and capping machines. How will their consumable numbers increase if they no longer sell consumables?
Their cartridges and pens we're not reliable. They leaked, custom orders weren't filled, so they continued to lose the large customers they needed to build their business.
Wow how definitive of a response
I wish you the best of luck with this. If they make it to the end of the quarter you might want to revisit the numbers.
Actually the reports have it specially marked out what their sales are...
Prior report was about 900k in machine sales 500k in consumables...
The latest report says 500-600k machines 900k consumables (but consumables have lower margins so they made less)
So I'd beg to differ that you can't see their numbers, it is in the reports
They didn't put up new management. The CEO and CFO have been there from the start. They ousted the founder. Not sure what happened there but this is the same management that got them into this mess.
Check out their product sales numbers. I can't draw the conclusion that there a lot of their machines out there. It's often what you don't see that tells the story. You can't tell how much of their sales were pens vs machines. Even if you make the assumption that their technology was decent, any reasonable assumptions you make on the revenue split would cast doubt that there are a lot of their machines out there. Permeated the market it a stretch at best.
Do your homework. Float, etc, doesn't mean a thing if the fundamentals don't exist. Even if you assume their product is good, the management team doesn't seem to be able to deliver.
I'll look at this again once see that the board has acquired a management team. How do you attract someone into this mess when you have a cluster on your hands and no money to hire solid talent?
Without management, no matter how good the technology might be, investment funds will go with the other hundreds of options in the sector.
So you think they took old management down and put up new management just to close the doors?
I've been trying to decide if this is a solid buy, and so far I see a very low float, outstanding shares are extremely limited.
They sold a LOT of capping units, and have redesigned and created newer models that are more efficient and reliable, they've already permeated the market, a lot of companies are using their products in the cannabis world..
I'm not seeing any information out there that says anything different...
Care to provide some facts to help me out?
There consumable sales also went way up! That's pretty good, they have machine sales and almost a million in side product sales..
I don't think this business model can lead to closed doors if they are still making those sales numbers.
Seems more like they want to take a harder stance in the market than their previous guy was able too.
We shall see!
I like this stock lowwwwww float I may end up modding this board to watch how it does
It's really too bad. There are investment funds out there that are interested in their concept but they'd never touch this management group. I heard they brought in a consultant to look at things a few weeks ago but he never came back. Try calling the office and see if anyone picks up. The only way this gets pulled out of the abyss is for the board act as a board, find new management, and raise new money. I don't see that happening.
That's easy. Buy any of their employees lunch, pay for a few beers and they talk and complain like crazy. They have no loyal employees, they are collecting checks for as long as possible then they're all bailing. Where else can you vape all day in the open at work?
They are a mess. When Mark does go to work, he's so hung over he forgets to wear shoes. The CFO still hasn't figured out how to determine their break even point, thus out of cash. They never figured out how to manufacture a product on time, according to customer specs, and was reliable. They lost all of their major accounts. I hate to see them fail, but they're done.
Wonder if this would even be worth getting into, the stock hasn't moved off these prices and it seems stuck in limbo..
What do you all think?
The 8k and 10k didn't say anything about closing down, but it DID STRESS that funding may severely limit their operations and plans
Says they may look at unfavorable financing worst case if they can't secure anything else.
Looks like no one is getting any large share count out of here soon
Seriously!? How do you know they missed payroll?
He’s right. This game is over. It’s been over for a few months. Mark is clueless and spent very little time at the office. Same thing with the CFO. They just missed payroll and have no idea how to fix it. The board seems to be asleep at the wheel and no legitimate investors will touch these guys.
Unfortunately I'm very serious. They had a good model, but couldn't deliver. I think we're seeing the beginning of the end
R u being serious....What happened to the big international expansion plans with financial backers??
So, 10Q states they're out of cash. Cutting staff, and stopped manufacturing cartridges. Sounds like bk is around the corner. Can't sell enough filling machines and capping machines to stay in business long.
Interesting development. I wonder what's up?
Nevermind. He was the founder. Mark Adams cleaning house. May be bigger news coming soon IMO.
Do you happen to know his position in the company?
8k
Jacksam Corporation terminated Daniel Davis as an employee of the company and removed him from all offices, effective April 24, 2019. The company simultaneously accepted Mr. Davis’ resignation as a director of this company, also effective April 17, 2019, tendered by operation of paragraph 8.6 of his employment agreement dated December 22, 2017.
8-K out. Revised bylaws, Scott Wessler elected to be Chairman of the Board.
https://www.otcmarkets.com/filing/html?id=13368079&guid=7By3UWHecWggfth
Yeah baby. More to come there.
Great to see QB on OTC Markets!
OTC Markets Group Welcomes New OTCQB Companies – April 17
Announcement | 04/17/2019
OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the following companies are approved for trading on the OTCQB Venture Market:
Fission 3.0 Corp. (TSX0V: FUU; OTCQB: FISOF) Fission 3.0 is a Canadian-based uranium project generator company with one of the uranium sector's leading exploration teams and a strong portfolio of highly prospective properties in Canada's Athabasca Basin, the world's leading source of high-grade uranium. An additional prospective property is located in the emerging uranium district of Macusani in south-eastern Peru.
Jacksam Corporation (OTCQB: JKSM) Jacksam Corp. is a technology company focused on developing and commercializing products utilizing their proprietary technology platform. The company services the medical cannabis, hemp and CBD segments of the larger e-cigarette and vaporizer markets with our oil vaporizer focused products. At present, they have three principal product lines consisting of the 710 Shark cartridge filling machine, the 710 Captain cartridge capping machine, and their proprietary cartridges. The companys customers are primarily businesses operating in jurisdictions that have some form of cannabis legalization. These businesses include medical and recreational dispensaries, large and small-scale processors and growers, and distributors.
Permex Petroleum Corporation (CSE: OIL; OTCQB: OILCF) Permex Petroleum is a uniquely positioned junior Oil & Gas company with assets and operations across the Permian Basin of west Texas and the Delaware Sub-Basin of south east New Mexico. Permex has a current focus on identifying, evaluating and acquiring oil and natural gas assets in North America and enhancing and developing its currently held oil and natural gas assets in Texas and New Mexico. Permex owns and operates on Private, State and Federal land.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for these companies on www.otcmarkets.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX Best Market, the OTCQB Venture Market and the Pink Open Market for 10,000 U.S. and global securities. Through OTC Link ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.
OTC Markets, OTCQX, OTCQB, Pink and OTC Link are registered trademarks of OTC Markets Group Inc.
https://www.otcmarkets.com/stock/JKSM/news/OTC-Markets-Group-Welcomes-New-OTCQB-Companies--April-17?id=225039
Excellent. And still only 8M shares in float.
Danny Davis, Founder and Chairman, is quoted here:
https://www.equities.com/news/how-the-cannabis-industry-is-innovating-manufacturing
Nice addition to the board!
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