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PLPRF: Plan of Arrangement. Holders will receive 0.04253539 shares of Glass House Subordinate Restricted and Limited Voting Shares for every share of Plus Products Common held.
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Right on schedule..end of Q3 liquidation. IDIOTS couldn't see the writing on the wall? Pride must have gotten in the way of logic. So obvious...
Approx $20M cap, sales rate $10M/yr, should sell for 3-4x, maybe upside 50%+ from here? Probably not worth the risk...yet. The CEO wants to keep his little company. They had better be working on a merger, or a VC infusion. Sale of the company, the longer this drags out, means a discount to the 3-4x selling price. If this means another capital raise, dilution will be severe, and they'll still be burning through their reserves. Need critical mass, and a new business model, OR sell and move on.
Needs to be purchased.
$0 cash by end of Q3. Will need to do raise, in Q2, from weakness/no cash catalysts upcoming.Unloading staff to minimize payroll, but that won't be enough. Change of distribution system may compound their problems in the short run. Big downside risk for financing: $.25? Keep powder dry until then. Good little company, but its on thin financial ice.......
huge jump today!! anyone know what happened?
Typically used in regards to a merger, but lightly used to mean you own shares of a company hoping the company will be bought out.
Merger Arbitrage - Q3 2020 Ends With A Big Bang
Oct. 9, 2020
Merger activity increased significantly last week with ten new deals announced.
The merger of WPX Energy (WPX) and Devon Energy Corporation (DVN).
Morgan Stanley (MS) completes the acquisition of E*TRADE Financial Corporation (ETFC).
The third quarter of 2020 ended with a big bang with 5 new deals announced worth $10.5 billion. Merger activity increased significantly last week with ten new deals announced and nine active deals completed. We were tracking four of the new deals announced as potential deals in the works.
We also saw a significant amount of active deals being completed last week including the acquisition of E*TRADE Financial (NASDAQ:ETFC) by Morgan Stanley (NYSE:MS) and the acquisition of Principia Biopharma (NASDAQ:PRNB) by Sanofi (NASDAQ:SNY).
assuming you're in CA as a Chargers fan you've seen em too yeah? I'm not fancy enough for arbitrage. But I do know that cannabis companies face insane tax situations when it comes to 280E because it is still federally illegal. Any existing cannabis company is going to have an insane amount of tax debt but when legalization comes there might be something done about it. It's somewhat of a gamble but if they can make it smoothly into legalization they could be one of the top players in gummies.
Good company! Dead money.
Arbitrage play?
nice climb today. this company is legit. I've had both their cannabis and their hemp gummies. they are def well positioned to move up once cannabis is rescheduled, I can't believe this is under $1. Once legalization is further along I really do think it could get up to $5 per share or more, depending on how they handle it. On the other hand if Wyld is ever sold publicly that is the ultimate beast
Nice find here. I will look to get in on Monday @ $0.60
Only 34M shares OS -https://www.otcmarkets.com/stock/PLPRF/security
GLTY
Hi new here....great products is why. I'm here for the election push.
Like the company. Tough to wait in a moving market.
Float and O/S is a very nice size. Also revenues and MC are great as well. New products drops a little might be bought out or just be a well know brand very soon. They seem to have their stuff together.
Outstanding Shares 33,650,120 01/29/2020
Plus Products Releases Letter from CEO Discussing COVID-19 and Strategic Changes
March 19, 2020 at 8:06 am
Published by NCV Newswire
SAN MATEO, Calif., March 19, 2020 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (“PLUS” or the “Company”), a leading branded cannabis products company based in California, today released a letter from Jake Heimark, Co-founder and CEO, discussing the COVID-19 pandemic and recent company developments.
To our Shareholders:
I could not be prouder of the PLUS team over the past few weeks. This is an unprecedented time for the world, and I continue to be amazed at the care, passion and commitment of our team to provide high quality products to as many customers as possible.
We do not know how COVID-19 will affect our business, but we believe that we are well prepared to respond to this crisis. For our company’s full response and real-time updates on the actions we are taking to respond to this crisis, please visit plusproductsinc.com/coronavirus.
PLUS continues to have a strong foundation as a leader in the California cannabis market
We have set three critical objectives as a Company over the next four quarters: 1) to ensure the safety and health of our employees and customers, 2) to continue to establish ourselves as a clear, long-term leader in the California edibles space and 3) to become a cash-flow positive business.
We believe that PLUS is well-positioned:
The Company is capitalized with enough cash on hand to continue executing through the entirety of 2020 without any additional fundraising.1
PLUS was the largest brand in the largest category of the California edibles market in 2019, and had the two best-selling cannabis products, across all categories, in the state over that same period.2
The California market remains disproportionately critical to becoming a global cannabis brand. In 2019, the state’s emerging adult-use cannabis market was 38% of the global adult-use cannabis market and is expected to remain 27% of that market through 2024.3
Edibles remain the most attractive space to build a brand, with price premiums remaining constant, while other categories continue to see significant price degradation.4
We have made material changes to our business to align with a new industry landscape
2019 proved to be a difficult year for the entire cannabis industry. Macro events – ranging from the vaping crisis to slow growth in emerging markets – contributed to underwhelming results and immense pressure from the market on operators across the board, a pressure that has continued to impact the industry into the new year.
PLUS has been no exception. We have faced a home market in California that continues to battle growing pains as it works to compete with a highly active illicit market, streamline a disorderly regulatory environment, and support undercapitalized operators across an adolescent supply chain. As a result, growth has been less robust than anticipated and we were not spared from the broader market downturn.
Early in 2020, we made adjustments to our business to ensure that we are in the right position to succeed in 2020 and 2021. We believe that the current crisis will only serve to heighten the importance of these adjustments.
The decisions made were driven by a strategic commitment to prioritize growing our footprint in markets in which we are already operational over entry into new markets, with a particular focus on our home state of California.
General Personnel Reductions
In January of this year, the Company reduced its workforce by 13 full-time employees, accounting for 20% of its non-production workforce.
Executive Salary Reduction
Three of the Company’s executive officers have agreed to salary reductions ranging from 20% to 50% in exchange for options that will be issued following the lapse of the current executive financial blackout period.
Executive Reorganization
Marc Seguin, the Company’s Chief Revenue Officer, will be leaving the organization this week.
Conclusion of John Legend Engagement
PLUS and John Legend have concluded their engagement.
We would like to thank Mr. Legend for the part he played in helping to bring the PLUS Hemp CBD line to the country.
The conclusion of the engagement resulted in the cancellation and return to treasury of 159,235 subordinate voting shares that were held in escrow.
Employee Equity Incentivization Restructure
We operate in a market that has seen industry indices lose 75% of their value since our Initial Public Offering a year-and-a-half ago.5 This market environment creates a challenge in talent retention for public and private companies alike.
We believe that we have recruited and retained an incredible team here at PLUS. As we face a crucial year for our organization, it is important that our employees are highly motivated to increase sales and market share while pursuing profitability. To help ensure that this objective is met, we are restructuring certain previously granted equity incentives. The restructuring process will involve a forfeiture and, following the lapse of all statutory waiting periods, subsequent issuance of new awards to employees holding equity incentives that have been impacted by the market movements. All of which will be conducted in accordance with the terms of PLUS’s Equity Incentive Plan.
PLUS, along with our Board of Directors, has taken many steps to structure a good-faith plan consistent with our Equity Incentive Plan mandate to “promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining employees.”
Key elements of this equity incentive restructure include the following:
No member of the Board of Directors, including the Chief Executive Officer, will be eligible for participation in the restructuring effort.
Equity incentives awarded to executive officers as a part of this restructuring will total 6% of the equity incentives issued as a part of this effort and 1% of the total Equity Incentive Plan pool.
The equity incentives issued following the proposed forfeiture will not exceed 65% of the total forfeited equity incentives.
50% of the equity incentives issued following the proposed forfeiture will be subject to performance targets tied to PLUS’s revenue growth and profitability.
Following the equity incentive restructure and issuances in exchange for salary reductions of the PLUS executive management team discussed above, the total equity incentives issued and outstanding from the Equity Incentive Plan will be equivalent to 7.5% of the outstanding shares of the Company. This accounts for one-half of the 15% available to be awarded under the terms of the Equity Incentive Plan.
We firmly believe this equity incentive restructuring plan is in the best interest of our current shareholders, and will ensure that existing and future employees of PLUS are properly incentivized and aligned with all of the Company’s stakeholders.
Fundamentals will be the key to our success
PLUS has built one of the most successful brands in the world’s largest cannabis market. Just recently, we launched a second brand, PLUS CBDRelief, which targets a large segment of underserved consumers whom we believe are looking for high quality, precisely-dosed edibles to find relief.
Moving ahead we intend to build a strong portfolio of edibles brands, leveraging our core capabilities in markets where we have established distribution channels and a dedicated customer base.
Our portfolio currently consists of two brands. We expect to launch a third before the end of Q2.
We believe that we have a clear path to achieving our three critical objectives set forth above. If we do, there will be few, if any, companies better positioned to build a global portfolio of cannabis brands. And while these are uncertain times, we know that we will emerge from this moment in time together.
I look forward to updating our shareholders further upon the release of our 2019 Audited Financials, currently scheduled for the week of April 20.
Jake Heimark
Co-Founder & CEO
(1) Formal public guidance from the Company
(2) According to BDS Analytics GreenEdge Platform
(3) The State of Legal Cannabis Markets 7th Addition – Arcview | BDS Analytics
(4) BDS Analytics GreenEdge Platform (https://docsend.com/view/g7kwcn7)
(5) NewCannabisVentures.com
Availability
California THC: PLUS cannabis-infused edibles are currently available in over 360 licensed retailers across the state of California. PLUS CBDRelief cannabis-infused gummies are expected to continue to roll-out across the state over the coming weeks.
Nevada THC: PLUS cannabis-infused gummies are currently available in over 30 Nevada licensed retailers.
National Hemp CBD: PLUS has launched a line of 100% Hemp CBD-infused gummies. They are available for purchase in 43 states across the country at plusproducts.com.
About PLUS
PLUS is a cannabis and hemp food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA.
What the hell happened here??
Big news for MJ companies coming from congress. Most companies have seen their stock price rebound for the past two days. Is this the time to BUY, BUY, BUY?
Plus Products has a bright future IMO.
yup that's the goal.
just giving that asshole canada tommy a taste of his own medicine with an extra splash of obnoxious!
he's a real d bag
Get in the car tommy! we've got a real nice surprise for you.
subby coming look out below
I'm 187,000 shares short
medium well for Tommy
You have to be short this stock. no way you're taking it like this.
you're def a medium well type of guy
This going subby tommy.
medium or rare? on me when I see you
52 WEEK LOWS ! WOWZERS
YOU STEP ON THE WRONG PERSON'S SHOES THIS TIME
LOWER!!!!
My proprietary ANAL Y SIS HAS THIS MUCH MUCH LOWER BY MAY BELOW $1
1.80 - 1.87 accomplished next target much lower much , much lower!
TAKE HEED !
& ENJOY THE TUNES
Yep, headed that way now...
Take Heed!
.087 coming ... lower hahahahaha
WE'RE GOING TO SEE 1.87 BY TODAY AND THEN LOWER
TAKE HEED
Agree, very possible.
Products are good, but they haven't figured out how to manufacture and profit from em. Cogs is currently a recipe for disaster.
much lower maybe .87
Sounds good...Will be doing DD on this one... GL
I’m buying more today. This is a long hold.
News out - PLUS Products Launches Edibles Products into Nevada Adult-Use Cannabis Market
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October 07, 2019 07:30 ET | Source: Plus Products Inc.
photo-release
PLUS has launched in Nevada with a successful product portfolio
PLUS' infused-gummies product line
Plus Products Inc.
SAN MATEO, Calif., Oct. 07, 2019 (GLOBE NEWSWIRE) -- Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a leading cannabis branded products company in the U.S, today announced the launch of its best-selling gummies1 into the Nevada market. The products are manufactured through the Company’s partnership with TapRoot Holdings Inc. (“TapRoot”), a vertically integrated cannabis company operating cultivation and manufacturing facilities in Las Vegas, Nevada. Commercialization comes just four months after PLUS and Taproot entered into a definitive agreement.
PLUS expands with a successful product portfolio:
PLUS is the #1 cannabis gummies brand in California with 21% market share1. PLUS has launched in Nevada with its infused-gummies product line, which includes the #1 & #2 best-selling cannabis products in California across all categories1.
Nevada is a key market for building an internationally recognized brand:
Nevada surpassed retail sales expectations in its first year of adult-use sales, and sales are expected to surpass $1.2 billion by 20222. With over 45 million visitors a year from all over the world, Nevada is a key market to building an internationally recognized brand. As in California, edible products have continued to increase in popularity, growing from 14.5% of recreational sales beginning in Q3 2017 to 18% today3.
PLUS is leading manufacturing operations to maintain quality and consistency:
TapRoot demonstrated that they are the ideal partner by providing the facilities for PLUS to easily and quickly deploy its machinery, ingredients and people to ensure that the product maintains its consistently high quality standards both in California and Nevada. PLUS intends to expand into further jurisdictions outside of California and Nevada using a similar partnership model to ensure quality and consistency across all markets.
"Operating in Nevada only four months after signing a definitive agreement with TapRoot is a testament to our commitment to execution in building a national footprint," said Jake Heimark, co-founder and CEO of PLUS. "We have created and commercialized the best-selling gummies brand in California. Now with this expansion, we aim to replicate this successful strategy in Nevada and ensure high-quality cannabis products reach more consumers in the U.S."
Over the last twelve months by units and dollars of retail sales according to BDS Analystics
Arcview Market Research & BDS Analytics: The State of Legal Marijuana Markets 6th Edition Update
?According to BDS Analytics
Availability
California THC: PLUS cannabis infused edibles are available in over 360 licensed retailers across the state of California.
Nevada THC: PLUS cannabis infused gummies are currently available at 3 Medmen Las Vegas locations, and are expected to be rolled out to dispensaries across Nevada in the coming weeks.
National Hemp CBD: PLUS recently announced a line of 100% Hemp CBD infused gummies. They are available for purchase at plusproducts.com nationwide.
About PLUS
PLUS is a hemp and cannabis food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA with 80 employees.
For further information contact:
Jake Heimark
CEO & Co-founder
ir@plusproducts.com
Investors:
Blake Brennan
Director of Investor Relations
ir@plusproducts.com
Tel +1 213.282.6987
Media:
Bill Harrison
Third Street Media Group
bill@thirdstreetmediagroup.com
Tel +1 213.712.8811
The CSE does not accept responsibility for the adequacy or accuracy of this release.
I plan on buying if this goes down below $2.84.
Launching a nationwide CBD product, partnering with Casper mattresses and John Legend. HUGE.
I like that entry point or you could have 1/2'd it.
I’m in at $3.40. Long term I like the upside a lot. Short term it could dip to as low as $3.00 is my guess. Maybe under a bit, but I doubt it. Could just as well be $5.00 in a month.
Limit order at $3.25?
I like the chart right now, I just don't know.
I have been loading Green Growth Brands.
I am looking to add to my positions or create a new one. I sold Liberty Health by mistake. I really need an alert for when the stock price crosses $0.75
Let me look at this chart. I watched the CEO on the Midas Letter.
Seems to have found a floor. If not, I think $2.50-$2.75 is as low as it would go. But I think Big buyers will buy in before that happens.
I was in and then out. I like the company. Cresco should buy them.
Have you bought yet? Could be a nice time to get back in here.
I had to sell to raise CASH but I want back in.
Have you watched the Midas Letter interview?
PLUS recently announced an anticipated unaudited 684 percent increase in revenue in 2018 and, with the past year’s demonstrable growth, has cemented itself as the clear leader in cannabis in California. According to retail analytics firm Headset, the PLUS Uplift Sour Watermelon gummy was California’s top selling branded product of the more than 20,000 products sold across all of the state’s cannabis categories in 2018. Additionally, PLUS “Uplift” and PLUS “Restore” remained California’s top #1 and #2 best-selling edible products according to BDS Analytics.
Will these guys be selling product in Canada once they make edibles legal
PLUS™ Announces DTC Eligibility for the U.S. Market
BY GlobeNewswire 7:30 AM ET 03/08/2019
SAN MATEO, Calif., March 08, 2019 (GLOBE NEWSWIRE) -- PLUS Products Inc. (“PLUS™” or the “Company”) (CSE:PLUS) , a cannabis branded product manufacturer dedicated to making cannabis safe and approachable, is pleased to announce it has secured eligibility by The Depository Trust Company (DTC) for its shares on the OTC.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC eligibility permits shares of PLUS Products to be distributed, settled and serviced through DTC’s automated processes, leveraging the efficiencies created through the electronic clearing and settlement of securities. DTC services provide cost benefits for investors and brokers trading Canadian securities in the United States.
Jake Heimark, co-founder & CEO of PLUS Products , stated, "We are pleased to have been cleared for eligibility on the DTC. This eligibility offers our U.S. institutional and retail investors an expedient and trustworthy platform on which to trade our stock and increases share liquidity in all public markets in which we trade.”
About PLUS Products
PLUS Products creates safe and delicious cannabis food products. Founded by a chef from a Michelin Star restaurant, Ivy League chemist and food manufacturing experts, PLUS’s mission is to make cannabis safe and approachable - that starts with high-quality products that deliver consistent experiences. The gummies are manufactured at PLUS’s own factory in Adelanto, CA, where dosage is tested twice internally and then tested twice again by an independent lab. PLUS is headquartered in San Mateo, CA with 60 employees
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