Two Rivers Water and Farming Co. (fka TURV)

[tigerpac]

Looks like a couple of parties trading to each other to drive the price up. Pity the guy who bought 125K shares at the market ($0.12) rather than using a limit order. But who knows how high it will go? However it will fall back to .03 eventually when the games are over imo.

[Floppyplants]

If this thing cracks .04, it could have a little run on this chart...

[tigerpac]

Company filed an 8-K a few days ago requesting additional time to file their year end. At the bottom of the 8-K was this gem:

The Company supplements the following risk factor due to the uncertainty of the COVID-19 outbreak:

The current phase of the Company’s business plan requires the investment of additional capital to support the preservation and improvement of assets which are critical to the Company maintaining its value for stockholders and ensuring continued performance. The impact of COVID-19 on investors has been significant and therefore has a direct effect on the Company at this time.

The Company currently requires the investment of additional capital. Efforts to raise such capital have been hampered due to the impact of COVID-19, which includes the fact that the capital markets have been extremely unpredictable and volatile, causing some potential investors to refrain from making any new investments. Given the uncertainty of the nation’s and the world’s economy for the near-term, some potential investors have been reluctant to risk any cash.

====================================
What an out for the current management. They were on the ropes long before COVID-19 and now the get to spin a different narrative. Wonder how many suckers will buy the story they are selling?

[tigerpac]

Sure sounds complicated....drag it on for another year imo…..

Two Rivers Water & Farming Company Announces update from CEO on Convertible Securities

12:10 PM ET, 03/30/2020 - GlobeNewswire

DENVER, Colorado, March 30, 2020 (GLOBE NEWSWIRE) -- Two Rivers Water & Farming Company (“Two Rivers” or the “Company”) (OTCQB: TURV), a strategic company that acquires, manages and develops the infrastructure of various agricultural industries including land and water rights, today issued the following statement from the Company’s Interim Chief Executive Officer, Greg Harrington:

Dear TURV Shareholders,
In my last letter I shared with you that after taking the position of interim CEO and CFO for Two Rivers, our major focus was on an internal review of the company's operations and expenditures, which included launching an ongoing internal audit of the Company’s contracts, commitments and obligations in place prior to my involvement.
One of our Special Projects that resulted from this initiative was a thorough investigation around the facts and circumstances surrounding certain convertible securities controlled by three or more purchasers (the "Noteholders"), that the Company held.
Our internal team and Board of Directors have recently learned that there may be certain material breaches by these Noteholders of their reporting obligations under federal securities laws. In order to make a final determination the Board requires further information, and we have engaged counsel to explore the best method to administer a formal process to ascertain compliance.
At issue are Federal Securities statutes that require transparency as to substantial beneficial owners of public companies, and issues related thereto. This beneficial ownership disclosure obligation can extend to holders of convertible securities on an "as-converted" basis, such as the Noteholders.
The reporting obligations are entirely obligations of the Noteholders, not obligations of Two Rivers. However, the Noteholders have served demands on Two Rivers to convert their notes into publicly traded shares of the Company. Issuance of the requested shares requires compliance with Federal Securities laws.
The terms of the Notes provide that the lower the trading price of the Company is at time of conversion, the more shares the Noteholders receive.
The Noteholders are asserting they are owed tens of millions of conversion shares, as a consequence of the decline in the trading price since the issuance of the Notes. Further, they allegedly claim they are entitled to receive freely trading shares that they can sell into the market.
Two Rivers has not been provided requested information by the Noteholders about the beneficial ownership of the Notes, to determine whether the conversion shares, if issued, would be properly freely trading and whether the Noteholders are beneficial owners of more than 5% or 10% of the Company on an "as-converted" basis.
Counsel for the Noteholders response to Two Rivers’ request for information did not provide the required "as- converted" beneficial ownership. Instead counsel cited its interpretation of a provision of the Notes that purports to subvert the intent of the law on beneficial ownership disclosure.
Counsel for Two Rivers provided the Noteholders’ representative(s) published guidance by the Securities and Exchange Commission (“SEC”) that we believe applies to the Notes. The preliminary conclusion is the SEC guidance applied to the Notes compels disclosure of beneficial ownership.
As previously stated, the Company’s next steps include further engaging counsel to explore the best method to administer a formal process to ascertain compliance, as well as working with the Company’s exclusive financial advisor on the fact-finding process.
If there is a determination that the Noteholders’ conversion shares already sold are not in compliance, this may implicate "short swing profit" implications of Section 16(b), which, among other remedies, requires the sellers to turn over the proceeds to the Company.
Our team is committed to a fair and transparent investigative process. The Company will disclose updated information as it is available.

[tigerpac]

Some large sells below .02 this morning . Eventually heading under a penny IMO.

[Liquid1974]

Added here.TURV

[tigerpac]

Got to love the action today. Two market makers buying and selling to each other to artificially increase the price with the hope of attracting retail buyer to join in on the "fun".

Then an after hour 1 million + share trade (dilution) at 10% below close price traps retail buyers.

[Kobe Ginobili]

TURV is the NEXT BANGER - GOOSE AIN'T PLAYIN!!!


TURV

[willlbone]

New symbol TURD

[lnghold]

I'm a bit sorry as it could have been a good prospect company, but they tried to bully many people including the cowboy growers. The cowboy growers ended up suing TURV/GrowCo and they paid the grower $500K. They really had the wrong cheerleaders on the side line rooting them on when they should have regrouped punted and then drove for a touch down. We all know how it ended. The losses are now monumental and they really have zero assets left and massive liabilities.
The final thing is where did all the money go? Did the CEO/CFO steal it to cover their own investments/interests?

[tigerpac]

The company wants you to think they have assets when in reality they have very little of value except for the couple of dozen lots that they manage to sell a couple of each year to speculative buyers.

What they do have is plenty of liabilities and convertible notes waiting to be converted into common stock. It's been one unfulfilled promise after another from both old and new management.

[Stock_Dog]

Anyone buying ?

[mick]

https://otcbb.swingtradebot.com/equities/TURV

[nealhugh]

just sell, run away...
GH and Chairman can take care of themselves...
nothing here until next harvest, if co not gone by then...

[chico hombre2]

LET THE GAMES BEGIN

[tigerpac]

Surprised it took this long to fall back to it's lows but with volume accelerating here I expect this to test the 6 cent area.

The prior management sold shareholders a bag of lies and it appears they also sold the new management the same bag. Initially IMO the new management tried to resell that same bag to shareholders who bought hook, line, and sinker before everyone realized they had been had but water rights that were so junior to other holders and lawsuits and stock conversions long since buried and forgotten but not resolved.

[nealhugh]

pump dump .11 to .60 was great

now--- nada until 2020 crop???

watching lawsuit with Val Sklarov / Rothschild

stock should be going down faster...

[tigerpac]

Hope the shareholder letter was a real eye opener for many.

https://www.otcmarkets.com/stock/TURV/news/Two-Rivers-Water--Farming-Company-Releases-October-Update-Letter-from-CEO?id=245420

Current management had all this time to do due diligence on TURV yet proceeded with the reverse merger anyway in order to get their companies public. It comes as no surprise to me that there are all these "unknown" obligations that prior management either didn't disclose or they just simply weren't asked about by the incoming management.

It came as no surprise that the Butte Canyon crop was a complete failure due partially to weather and partially due to mismanagement.

The company is going to be tied up in court for awhile in order to settle some share conversions that weren't known to current management. I don't feel any sorrow for them as they were pretty smug on how quick they were going turn this company around and become a major farmer.

This is going to take a lot of time and a lot of money.

[mick]

https://otcbb.swingtradebot.com/equities/TURV:OTC

[nealhugh]

my view also:
hempspeculator Wednesday, 09/11/19 02:31:31 PM
Re: None 0
Post #
1014
of 1039
SOLD my entire position. All previous thoughts and price projections should be considered void. The conf. call yesterday gave us all the information we need to know. They may have planted approx. 30 acres and will only harvest approx. 4-5 acres based on plants per acres. The average professional hemp companies have a spoilage/loss factor of less than 10%. These clowns are at approx. 70%-80%. My guess is that the quality is also not there and maybe the entire crop sells for bulk. They have a seed problem along with an expertise problem, a honesty problem, no apparent assets for VAXA for which they received shares, 2 sku's, no growing or extraction experience, and little to no capital. The current management has a history of fraud and now imo has admitted that the entire operation that they brought to the table was on paper only. Once again the previous management made bad decisions and imo no dam will be built or financed and the 1000 acres are a pipe dream. My concerns regarding irrigation was confirmed and never did I hear about drip irrigation which is a requirement for high quality hemp/cbd. Amateur hour period. Not with my money. Bankruptcy within 36 months or less would not be surprising. This is my last post regarding this stock. Good luck to all.

[Golden Cross]

$TURV Tier_Change: Pink Current to OTCQB

OTCM Link
https://www.otcmarkets.com/stock/TURV/disclosure

[lnghold]

BUT who knows who stole all the money! Like so many of the pink sheet companies/stocks the money gets diverted (stolen) all the time with hardly ever a conviction.
Just dirty investments with zero accountability.

[nealhugh]

Seems like a lot of folks are waiting for 11 cents again. I think that will be a head fake area and the price will wind up falling below that to the 6 cent range.--- agree

[tigerpac]

Seems like a lot of folks are waiting for 11 cents again. I think that will be a head fake area and the price will wind up falling below that to the 6 cent range.

All IMO.

[nealhugh]

yeah, waiting for .11 again...
they cannot grow and they cannot even update this page

where is Cassandra Dowell and the new PR co?
where is Carl now??? TTC.

TY, Neal
212-666-6217

We are IN EXDI!

[Golden Cross]

It is shown on the OTCM... GL

https://www.otcmarkets.com/stock/TURV/disclosure

[bcblbrbm]

Could you post a link, please that indicates the TURV tier change?
If not, could you please explain what this move normally means for a company? Thank you.

[Golden Cross]

TURV: Tier Change OTCQB to Pink Current

[tigerpac]

EXDI...another pipe dream IMO.

[nealhugh]

agree...
but what about Val and the 6.7% he has... and Val might get Greg some $$$...
meanwhile, nada.
Better off HS has said at EXDI.

[tigerpac]

For new investors that are supposed to be flush with cash they chose to stick it to the shareholders with a large convertible note.

This stock will be back to .11 in no time imo.

[nealhugh]

TURV should now drop down... nothing there.
I am watching Val with Greg.
If there is any $$$ ahead, dilution too--- looks like 200 million shares ahead. Greg will have 50 million when he pays 10 cents/share for 20 million.
read HS on TURV and EXDI.
We are IN EXDI, not TURV (yet???)

[nealhugh]

tiger--- OK, got that. Expected, eh?

[tigerpac]

A deal/settlement that satisfies them but NOT the rest of the common shareholders. Count on it.

But Greg and Val will understand each other well!
I see a deal/settlement.

[nealhugh]

CannaSMOKE yuch! & DILUTION, and let's see the 2020 crop. 2019 dead. BUT:
as I mentioned, Val can bring in $$$ and Greg can make a deal on Val's 6.7% (IF Val thinks this thing has a future...)
Val Greg and the Chairman are a great Trio! :)

[nealhugh]

I am watching but I also think Val can bring $$$ into this if he and Greg make a deal and Val thinks there is a future.

[nealhugh]

But Greg and Val will understand each other well!
I see a deal/settlement.

[tigerpac]

Judging by The Ripoff Reports on this guy (Sklarov), TURV may have gotten into bed with the wrong person.

[nealhugh]

What I have been following as well on TURV is the Val Sklarov 6.8% situation.
Let's see how Greg deals with Val--- my bet is a settlement.
And Greg gets 20 million more shares for 10 cents each @ 2 million.
He will have 50 million out of possible 200 million ahead.
So what is this co worth? We shall see next year perhaps.

[lnghold]

As I said before "a fool and his money are soon parted".

This company was extremely stupid from the gate. They had a proven grower but tried to be the "powerhouse" and he said FU and left and then sued them and won $500K. After that they never recovered and it was done. I do feel a little sorry for the ex CEO John, he got into something over his head and lost it all.
If they would have left well enough alone we'd all be very wealthy right now. But they didn't....tried to be big shots with the marijuana cowboys....they learned and it was too late. Many of those who were in it from the gate had learned this before but obviously didn't learn not to do it again. This isnt the 1980's where you shove it down someones throat....this was the 2000's where everybody is not what they seem. Don't F with people you don't know 'cause they can burn you with their knowledge and hidden powers. Ya they may look tame but.......

[tigerpac]

Going back over the message board posts from the past year (knowing what we know now) and you can see how TURV stock was being set up as a pump and dump by many of the crew from the other board that came and started posting here. When IR folks post on message boards without disclosing BEFOREHAND that some of their compensation is in shares then there is an obvious conflict of interest.

Today, there is new management. However their hands are still reaching in to the same investors pockets. IMO, they talked a good game behind the scenes until it came time to tell the whole world in a public forum. Think of things they actually withheld disclosing.....

The new guys will have to prove themselves with actual audited results. Me thinks we are going to see some heavy dilution in the next 12 months.

[nealhugh]

'Tigger'--- my best cat 1950-1968...You are right tp... I am following smart posters here. Nothing else to say.

[tigerpac]

I love how someone on this board is copying and pasting my iHub posts onto the Investors Village message board. Whomever is doing this seems to have run out of things to say on their own.

[tigerpac]

This whole reverse merger was nothing more than a pump and dump with IR folks leading the way.

Told ya so.

[hempspeculator]

SOLD my entire position. All previous thoughts and price projections should be considered void. The conf. call yesterday gave us all the information we need to know. They may have planted approx. 30 acres and will only harvest approx. 4-5 acres based on plants per acres. The average professional hemp companies have a spoilage/loss factor of less than 10%. These clowns are at approx. 70%-80%. My guess is that the quality is also not there and maybe the entire crop sells for bulk. They have a seed problem along with an expertise problem, a honesty problem, no apparent assets for VAXA for which they received shares, 2 sku's, no growing or extraction experience, and little to no capital. The current management has a history of fraud and now imo has admitted that the entire operation that they brought to the table was on paper only. Once again the previous management made bad decisions and imo no dam will be built or financed and the 1000 acres are a pipe dream. My concerns regarding irrigation was confirmed and never did I hear about drip irrigation which is a requirement for high quality hemp/cbd. Amateur hour period. Not with my money. Bankruptcy within 36 months or less would not be surprising. This is my last post regarding this stock. Good luck to all.

[tigerpac]

Read the transcript of the conference call. The only thing that they are certain of is that there will be more dilution of the stock thru convertible offerings. They admitted that Two Rivers has been a leaking ship for years with litigation and debt senior to theirs.

They are going to try and fix it but of course no guarantees. And with the complex structure of all the new companies it could be easy for them IMO to divert revenue and profits if something starts going wrong with the public shell.

Large capital infrastructure is still required and State of Colorado has had it up to here with the company with dam and will never loan them money.

I expect the water rights issues and dam repair to be shelved and given away free to some other investor group because the Two Rivers name is mud to the State. As long as that group assumes some of the liabilities. And maybe TURV can work a deal with a new group to get back some of it's rights.

No guarantee that revenue will be anywhere near forecasted. All it takes it one severe storm to ruin everything.

[nealhugh]

One passenger, Daniel Lewin, an Internet entrepreneur and former Israeli commando, was reportedly stabbed at the outset of the attack. "And then [the terrorists] moved everybody to the back of the plane, and shielded them from the windows," Mello said. "They thought they were going to JFK.

9/11 8:46am NY NY #11 hits North Tower.

Never Forget.

[hempspeculator]

The number one question for today's call is very simple. How many acres of hemp are currently planted and what percentage is CBD quality vs. bulk hemp. The answers to this question will allow us to figure out the revenues for the 12 months Oct. 2019-Sept. 2020. Then as the finalized share count comes in (my best guess after all dilution) about 120M shares plus preferred debt of 20M-30M, we can correctly value the company. As for the loans to rebuild the dam, this is not my area of interest or expertise and to date I will continue to discount this and balance any upside vs. the existing debt. Once revenues can be determined based on acreage planted and type, we can place a 10x multiple on it (discounted from industry average due to quantity of current products)and divide this by the current/future estimated float, omg. I still believe that within 3 years the company if they execute can bring production up to 1000 acres or a 1.2B plus valuation (CWBHF has a 1.7B valuation but with much better market penetration) or $10 a share. This is a 30x to 40x upside. The preferred loan position at that point is irrelevant as is the dam imo. The dam if completed can be used to spin off the previous poor management and simplify the company for a buyout. It starts with today's call.

[deri21]

$TURV *DIAL-IN CORRECTION* Two Rivers to Host Investor Conference Call to Discuss Corporate Initiatives https://www.otcmarkets.com/stock/TURV/news/DIAL-IN-CORRECTION-Two-Rivers-to-Host-Investor-Conference-Call-to-Discuss-Corporate-Initiatives?id=239724

[Tomber123]

Does anyone know a good brokerage firm I can use to trade turv and other otc companies from the uk? Can’t seem to find any