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Any word why this company isn’t current? Are they at risk of getting delisted?
New here. I picked up a few shares at .002, was happy to see its still moving, so grabbed more. I'm optimistic about the category, and the sector is all about distribution.
Yes, she is open about it on her FB page. In one post she thanked her evio partners for supporting her while she was working less. It sounds serious, but she seems optimistic and is getting through it
Also, she posted about Medford lab in Central Point OR. There have been fires and evacuations there, but they’re open now. Sounds like they’re lucky the lab didn’t burn down.
I wish them well. 2020 has been rough.
They got current with filings, clearly still operating. Putting filings out is the opposite of hiding.
News out of additional states legalizing cannabis. This is a long game and labs are needed.
Not saddened. I averaged down on my buys, lots of opportunities to make up ground at under 0.03.
Yes there is a lot of debt but $10mil is still a modest amount compared to investments made in other far less mature cannabis plays
Did Mass reopen recreational canna sales yet?
I heard the commission wasn't doing anything during covid, and regulatory licensing stopped months ago.
I look forward to reading the 10Q tomorrow. If anyone does before me please post update - it's had a nice run since I was here last.
Yes they released their 10k a couple of months ago
Who knows about the CFO here? Seems it would be his job to be on top of this, especially given recent CEO change?
I was offline this week, just catching up on the news. Disappointing.
Thanks for the link. I’ve been waiting for Steep Hill to go public, without Keller. Maybe this is part of the plan.
This is interesting. COO of Evio said that covid is bringing “new opportunities” to the testing company. She didn’t go into detail other than they have the equipment and resources to help Covid. Environmental testing is going to be huge for a long time. Much bigger than that other industry IMO.
Stock price is down but it’s real. EVIO has testing labs in multiple states and Canada, and are taking orders today. They are operating as an essential business during covid. Don’t know the relationship between these companies but cant help but speculate what the two companies might have planned for the future.
Here’s a summary of the webinar (see prior post): Panel of four labs included Evio COO.
The mod is an investment analyst, Greenwave Advisors.
Evio said they are operating in CA, OR, Canada. MA is awaiting approval from state (where cannabis is closed during COVID).
He asked right away how EVIO is going to turnaround, she said they scaled back growth plans, reduced overhead, and are looking at new revenue streams. She said they had aggressive growth plans early on and are recovering from that over expansion. She said they are moving forward with focus on a few bigger labs.
After that, the webinar was about the future of testing market. Panelists thought testing requirements would get more strict.
ProVerde guy said new entrants will have difficulty since the startup time for a new lab could be 2 years with all the requirements. By then cannabis could be legal. Lori said once customers can mail cannabis samples fewer labs will be needed. Hemp samples are mailed in now.
She said labs will grow by scaling from where they are rather than building new.
Lori said testing market is about 2-3% of cannabis sales. Both Evio and SC said California market is smaller than predicted due to black market and illicit dispensaries that don’t test. About 80% of cannabis in CA is illegal, but some of that will go to legal market with enforcement
Some panelists thought covid wont have a big negative impact on cannabis sales or testing for the established labs. New labs could have difficulties
She also mentioned that COVID is bringing new opportunities. She wasn’t specific on that except said they have PCR equipment and technical resources that are needed now. And that the Canada lab is doing hand sanitizer testing and helping formulate for brewers switching to making it. They said they’ve been affected by supply shortages.
They also talked about advisory services and ways the labs can help growers other than testing.
The panelists talked about federally legal future, they think agriculture and food labs will acquire cannabis labs once they can.
Both SC Labs and Pro Verde said they grew organically over 10 years, and it took time to get there so weren’t looking for new funding.
This is all to best of my recollection, Greenwave advisors recorded the webinar.
I hope this summary is helpful info for this board.
My takeaway is continue to hold. They are operating, and a New York investment advisor thought enough of them to invite to speak. He’s not a paid promoter, so I think that’s a good sign.
Webinar: "The Current State of Cannabis Lab Testing and the Impact of Covid-19"
5/12 3PM EDT
As individual states debate the efficacy of current legislative statutes or contemplate initial legalization referendums, lab testing requirements of cannabis products has become an increasing subject of concern and attention. Although the current governing statutes regarding legalized marijuana uses vary in great degrees from state to state, one common theme that has emerged is the increased awareness on the part of legislators and health officials, as well as cultivators and laboratories, of the critical importance of product testing and quality assurance. This webinar will include a discussion on the current state of lab testing and the potential impact of Covid-19 on the cannabis eco-system.
Moderator: Matt Karnes, Founder, GreenWave Advisors
Participants: Christopher Hudalla, President and Chief Scientific Officer, ProVerde Laboratories and Lori Glauser Glauser, COO EVIO Labs (OTCQB: EVIO).
New here, and just looking
What is the near term business model here? When can mushrooms be commercialized? Don’t want to invest in a company that will spend 3 years in R&D while waiting for a market. That said, I missed the GW Pharma boat.
What’s the value here, or is it all hype? And there is a lot of hype (based on real promise.)
What’s up with the name change? Sounds like turnaround time. Looking for bottom
So import seeds, grow and test, then hold the genetics? Not sure I get it, or see the revenue opportunity, but good to see the company diversify.
Any word on what they’re doing in California?
Berkeley lab is still operating, cannabis is essential business.
What info did you get on it?
Websites are up
Www.hemptesting.com
What are you talking about?
The lab is operating, even now during the pandemic.
These boards are so frustrating. I come here to get real information and get nothing. Where are the moderators?
What’s up with the big jump today?
Was this from “dispensaries are essential” news?
What are the filing requirements for pinks? Is it possible they don’t need to? Seems these otc companies spend all their cash on auditors, money and time better spent on marketing.
I don’t invest much in OTC so appreciate a real comment (not just bashing or pumping)
Can a client or customer confirm this rumor?
Following...
Thanks chess!
Following ...
Nice increase in YOY rev and gross profit. Let’s get some eyeballs!
The execs are underpaid.
$180k in Bay Area and Boston is middle class, and is in line with salaries of lab directors. Will be very difficult to find replacements at that rate. Them taking shares in lieu of pay is a favorable sign. Any one of them can make a lot more $ elsewhere.
https://mjbizdaily.com/ceo-salary-matchup/
Do you think the the sp goes low enough kaycha will make a play to buy evio?
(your posts make sense now)
Market cap is now all most double the other pubco stock play. But still low
I wonder the same. Don’t know why there aren’t more buyers here.
How magnanimous.
A private company with an interest in testing would be very happy with super low sp on evio so they can buy it. Chess are you invested in kaycha?
https://www.investors.com/news/marijuana-stocks-2020-next-12-months/
Digipath Processes Record Number of Samples, Plans Expansion
Samples for Same Period in 2019 Up Fifty Percent
LAS VEGAS, NV, Feb. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Digipath, Inc. (OTCQB: DIGP), is pleased to announce a 50% increase in cannabis sample processing for January of 2020 versus the same period in 2019. The January total is among the Company’s highest sample processing months in its six-year history.
To meet growing demand, Digipath has purchased a SCIEX Triple Quad 6500+ LC-MS/MS System which is widely considered to be a state-of-the-art diagnostic instrument featuring multi-component IonDrive Technology including the IonDrive High Energy Detector+ that pushes the boundaries of LC-MS/MS quantitation farther than ever before. Additionally, Digipath is in the process of expanding its laboratory space.
“Digipath continues to leverage its pedigree as a trusted and leading cannabis testing laboratory in Nevada,” stated Kyle Remenda, CEO, Digipath Inc. “We are continuing to invest in next-generation technologies to service our growing customer base and expanded sample testing. The Sciex and our larger laboratory should greatly assist us in our expansion and pursuit of greater market share.”
About Digipath, Inc. (OTCQB: DIGP)
Digipath, Inc. supports the cannabis industry’s best practices for reliable testing, data acquisition, formulations, and new canna-tech to the cannabis industry.
I linked to their PR
They’re definitely alive-
https://apple.news/A94fNNG10QiCrZU_2RRHLbw
There are 30 or so labs in California, many of them won’t make it. That will put EVIO in a good spot in the long run.
https://mjbizdaily.com/potential-business-carnage-coming-for-california-marijuana-industry-but-stability-might-emerge-after-that-experts-say/
EVIO team committed to sticking it out for another year for stock. They put their science guy at the helm. That shows commitment and optimism when any one of them can get a job making a lot more money somewhere else.
How many shares has CEO sold?
I do see similarities. I am also invested in medmen. They both expanded too quickly and now are paying for it. But, people I know who live near medmen dispensary buy their weed there. Nothing like brand recognition.
Me too. This action is making trading fun again.
It’s a good sign when “LoadingBottoms” shows up. I’m ready to make some doubles to quickly get me back to even and still hold shares.
I’m with you owg. This slide has been tough, but I think there is a lot of upside from down here.
The last numbers we have are from six months ago, when they had growing revenue and dropping SGA
We don’t know yet how they did this harvest season - testing both cannabis and hemp for the first time. Don’t know what vitamin e testing will do. Don’t know what edibles legalization in Canada will do. Dont know what USDA will do. Don’t know if there is more to the steep hill deal - who just handed them cash and now they are partners. Convertible debt is falling off the books.
If after all that they are still short on cash, I bet there are 50 companies who would happily acquire them for under $0.20
I said in prior post, I’m waiting for bloodbath to end then averaging down. The more I think about it, the better this is looking. I see potential for 10x from these levels.
Welcome to OTC. Difference here is compared to many of the pennies and pinks, EVIO is very transparent on their financials, and they don’t put out press release every time they wipe their butt. Zero insider selling.
Noteholder is selling.
Caveat emptor.
I also hold DIGP and other canna and tech plays. 5 years only one lab. USDA and FDA require testing. Waiting till this bloodbath ends then average down and hold till it’s legal.