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Something more dramatic, like the Toecutters death in the original Mad Max.
One thing makes me wonder, however. The two outfits that bought a 9.99% in this company recently. Tonaquint (June 3) and Vis Vires Group (July 30). Do they know something we don't or were they suckered in?
That's the trouble with going to the moon...you can "crater" at any time.
Yeah VFIN (dilutor), NITE & CDEL (HFT & hedge fund operator).
You said your bid was AON? That's probably why it isn't showing. All or nothing orders are given the lowest priority. And after reading "Flash Boys" I've got to wonder what kind of games are being played.
There is small volume listed (4,700) and CSTI has a bid for 10k @ $.01 so it must be trading.
Exclusive Executive Interview
CannabisFN's Dan Wise speaks to Agritek Holdings Inc. AGTK +2.69% CEO Michael Friedman about the company's plans to become a leader in compassionate care technologies for the medical marijuana industry. Agritek provides real estate management and a health and wellness product line, including its Mont Blunt(TM) brand of vaporizers and accessories at www.montblunt.com .
Watch the AGTK Executive Interview
http://www.cannabisfn.com/agritek-holdings-inc-carves-out-attractive-niches-in-cannabis-industry/#.U9ZoraNjjn4
Check this out, the picture in your link says "e-mail your videos to beats@mountblunt.com" but this this one shows beats@montblunt.com. Screwed up already.
https://twitter.com/BakedInvestor/status/484411876613169152/photo/1
Coincidentally, the pharma company making such a drug for epilepsy also reported good news today:
"GW Pharmaceuticals PLC- ADR (NASDAQ:GWP*) reports preliminary data on 27 children and young adults with treatment-resistant epilepsy who have been treated with its investigational cannabidiol product candidate Epidiolex for a period of 12 weeks. Of the 27 patients, nine have Dravet syndrome and the remaining 18 have treatment-resistant epilepsies with convulsive and/or non-convulsive siezures.The mean overall reduction in seizure frequency compared to baseline was 44%."
I bought this stock a year or so ago at $8 and sold it at $11. What a dope.
We'll catch up someday. Many MMJ stocks showing double-digit jumps recently and favorable legislation being passed.
It's a good day for many MMJ stocks, including a couple that have come off suspension. HEM* had a nice profitable quarter and six more states will vote later in the year on legalizing for medical and/or recreational. Things might be looking up.
So far, 39 nurseries have been approved to grow low-THC marijuana under the Charlotte's Web bill recently passed by the Florida Legislature.
It hasn't been easy to get on the list, which requires -- among other things -- that a nursery has operated continuously for at least 30 years.
One of the most interesting companies in the industry, Agritek Holdings Inc. -- formerly Mediswipe Inc -- has leased 20 acres bordering Lake Okeechobee and the Loxahatchee River in Western Palm Beach County. It is not clear whether it qualifies as a grower.
The Los Angeles firm has been certified to provide banking services to dispensaries -- mostly in Colorado. It is one of the first public companies to join the fray. According to its website, Agritek "provides innovative patient and agricultural solutions and seeks to be the leader in Compassionate Care Technology for the medicinal marijuana industry. MediSwipe provides real estate management and health and wellness product lines including beverages, vaporizers and accessories."
Jayme Canton is on Agritek's board of directors. He worked with futurist Alvin Toffler and with Steve Jobs during Apple's introduction of the Macintosh.
Miami-Dade commissioners recently approved a study of how agricultural land could be used for pot and how it will affect the local economy. Broward and Palm Beach have yet to do so.
Florida voters will decide whether to allow medical marijuana in November. Companies that gain a foothold in the industry early will likely have an advantage.
http://blogs.browardpalmbeach.com/pulp/2014/05/will_floridas_marijuana_nurser.php
Google finance already has the name change and they're usually slower than tree sap in January when it comes to these things:
Agritek Holdings Inc., formerly MediSwipe Inc. (.30)
And the website for AGTK is already up, so that didn't happen overnite either. More than a few people must have known in advance then, just not us.
http://www.agritekholdings.com/
What does the term "holdings" imply? Now we are a shell company?
Also:
"It is my belief we have been both defined and limited by our name MediSwipe, and identified only to the financial processing side of this sector which in fact is only a piece of the true value of our Company. Our plan is to have MediSwipe become a subsidiary under Agritek Holdings, continuing our banking and merchant processing services and utilizing the brand name while separating the business results. We expect MediSwipe to contribute to Agritek's overall success. With the right team and the right product offerings now in place, we are now poised to execute on the near-term opportunities that will provide the foundation for our future growth and success. We look forward to starting this new chapter and are proud to do so under a new name that completely reflects our mission and value within the sector," further stated Friedman.
This is the same reason for the previous name change from CMSI to MWIP.
The Marijuana Industry Is Going Through Puberty, Not a Crisis
The marijuana industry is not going through a crisis. What the marijuana industry is going through is more like puberty — awkward and painful, sure, but there’s no reason to panic just because things got out of hand and mom and dad had to step in and ground some companies.
In case you missed it, this is pretty much what happened. In March and April of this year, the Securities and Exchange Commission (mom and dad) suspended trading for the securities of five marijuana companies. Here’s who got hit:
Aventura Equities, Inc. (OTC:AVNE) on March 5 “because of questions concerning the adequacy and accuracy of publicly available information about Aventura, including, among other things, its financial condition, the control of the company, its business operations, and trading in its securities.” Aventura Equities recently acquired 100 percent of Aventura Laboratories, which holds cannabis-related intellectual property.
Petrotech Oil and Gas Inc. (OTC:PTOG) on March 14 “because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the company’s operations.” Petrotech is an oil and gas company that recently began expanding into the quasi-legal marijuana industries in Colorado and Washington.
Citadel EFT, Inc. (OTC:CDFT) on March 21, “because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the company’s business operations and assets.” Citadel EFT provides credit terminal and merchant account services.
Advanced Cannabis Solutions, Inc. (OTC:CANN) on March 27 because it appears to the SEC “that there is a lack of current and accurate information concerning the securities” of the company, and “There are questions regarding whether certain undisclosed affiliates and shareholders of Advanced Cannabis common stock engaged in an unlawful distribution of securities.” Advanced Cannabis Solutions is a development-stage business serving the marijuana industry.
GrowLife Inc. (OTC:PHOT) on April 10 “because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in PHOT’s common stock.” GrowLife is a picks-and-shovels company supplying equipment to companies in the marijuana industry.
The regulatory action comes after the Financial Industry Regulation Authority (FINRA) issued an alert to investors in August 2013 warning about potential scams associated with marijuana-related stocks. Specifically, FINRA warned about the well-known ‘pump-and-dump’ scheme, in which, “fraudsters lure investors with aggressive, optimistic — and potentially false and misleading — statements or information designed to create unwarranted demand for shares of a small, thinly traded company with little or no history of financial success (the pump). Once share prices and volumes reach a peak, the cons behind the scam sell off their shares at a profit, leaving investors with worthless stock (the dump).”
The warning was timely. As the national conversation surrounding marijuana barreled forward, cannabis-related stocks began to rise. The industry, sensitive to momentum and seeking to draw public investment dollars, turned up the volume on its marketing.
In a vacuum, self promotion is not a bad thing. Every business has to be its own advocate, especially those that trade equity over the counter. But effective self advocacy in the OTC markets is especially challenging because of dubious reporting standards and the sometimes well-earned bad reputation of other penny stocks and penny stock brokers. The OTC markets suffer asymmetric information and therefore breeds moral hazard and adverse selection. It’s kind of like a flea market for stock — the good merchants blend in with the bad, the honest blend in with the swindlers, and the mantra of the buyer is “beware.”
In this environment, there are really only two groups of people who prosper: the swindlers and exceptionally savvy consumers with a tolerance for risk. The rest, the honest merchant and the unassuming consumer, just lose out.
So who’s a swindler, and who’s an honest merchant? And what can consumers do to make sure they don’t become victims?
The SEC is tasked with answering those questions, and, unfortunately for the commission, they are enormously challenging to answer. The pump-and-dump scheme is about as old as equity trading is itself and, like all criminals, avaricious investors evolve with the times. The reason FINRA issues warnings and the SEC exercises its power to halt trading is because people still commit microcap stock fraud and there are new victims all the time.
Worse yet, investors are most unassuming in the presence of an opportunity for huge returns, and this is exactly what marijuana stocks appear to offer. With the legalization of recreational weed in Colorado and Washington, the emergence of marijuana businesses (investment opportunities) hasn’t escaped anyone. If you expect that marijuana will be legalized at a federal level at some point in the future, as many people do, then you are tempted by investing — not so much by the businesses themselves, but by the allure of the first-mover advantage. Investors want in early, and they’re sometimes willing to tolerate enormous risk to do so, and in the process can overlook fraud.
There’s a lot to be concerned about in the marijuana market. Regulators know this and investors should know this, but knowledge doesn’t necessarily translate into power here. Most of the viable investment candidates in the marijuana industry have been vetted enough to establish only one fact: No one really knows enough to take an informed position, except for possibly the companies themselves. That is, most investors are at a hopeless information disadvantage and simply have no way to know if the company they are investing in is truly financially sound, let alone fraudulent.
But still, investors invest. Marijuana stocks soared when recreational weed went on sale in Colorado. Here is a stock chart for GrowLife and Advanced Cannabis Solutions for the past year. You can see where each company had its stock frozen by the SEC by the horizontal line — and note the inevitable cliff at the edge of that plateau.
Even if these companies are generally on the up and up, they threw red flags, and those flags should be investigated. Moreover, it is fair and reasonable to distrust the companies in question, and it is especially reasonable for the vast majority of investors to simply sit on their hands. If it’s impossible to be confident in your investment, then don’t invest. The industry will evolve over time and the market will legitimize as the businesses do.
For now, the industry and most of the businesses in it is too young to be really valuable to most investors. The spoils should — and probably will — go to the companies that grow up the fastest. Investors want more mature companies with experienced management, reliable cash flows, and a transparent and stable capital structures that will capitalize on the marijuana market as it expands, not businesses that are built on a rickety foundation but that are poised to spring.
To be clear, these businesses are probably out there, just as there are honest merchants at the flea market, but it’s the buyer’s obligation to beware.
Read more: http://wallstcheatsheet.com/business/the-marijuana-industry-is-going-through-puberty-not-a-crisis.html
Another MMJ stock was recently halted as well.
It was Cannabusiness Group, on May 8th.
http://www.ocregister.com/articles/cannabusiness-613456-company-marijuana.html
There is still serious concern with how the Sec suspensions are affecting the index as a whole and another "cannabis related" stock was suspended today.
It's the second MJ stock to be halted this month. CAN* started trading again today (since Mar. 26th) and really took a hit. Wouldn't be surprised if more are coming. Not sure what is meant by the "watch list" in this article:
Traders in marijuana stocks are on edge with today's trading suspension on Growlife Inc. (OTC: PHOT). The halt appears to be coming down from FINRA, which is never a good sign.
Other pot stocks on watch: Medbox, Inc. (OTC: MDBX), Medical Marijuana, Inc. (OTC: MJNA), GreenGro Technologies, Inc. (OTC: GRNH), AVT, Inc. (OTC: AVTC), MediSwipe, Inc. (OTC: MWIP), Hemp, Inc. (OTC: HEMP), Cannabis Science (OTC: CBIS).
UPDATE: Below is the order from the SEC with assistance from FINRA. The suspension comes because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in PHOT's common stock.
http://www.streetinsider.com/Trader+Talk/Marijuana+Stocks+React+to+Growlife+%28PHOT%29+Trading+Suspension/9370185.html
Instead of throwing money at MMJ stocks maybe we should go into business for ourselves.
https://cannabiscareerinstitute.com/
MF is a finance guy so he probably understands the loan part but what does he know about farming?
Somewhere in all those forms they filed I saw a value of .033 or .0033 mentioned. That was a while back and may not even be valid anymore.
80 acres, now that's a "joint" venture to be sure. An article appears in the WSJ as well but they make you pay for it. My best investments were in real estate so this is doubly good news. Another company (Zoned Properties)did something similar a few weeks ago. That stock ran from .18 in December 2013 to a high of $28+ just this month. It pulled back some and is running again today. Hoping MWIP has the same good fortune.
I own 10X more MWIP than any other MMJ stock in my portfolio. They have all moved up while this one languishes. I could have done far, far better by doing the reverse. Maybe someday.
There are three storefronts selling Chillo on Amazon. This could just be retail with Mediswipe still maintaining the wholesale distribution rights.
http://www.amazon.com/gp/offer-listing/B00DE1EZMG/ref=dp_olp_new?ie=UTF8&condition=new
"Now today you have the same posters whining and complaining that the SA article is bringing the price down. Get real. The price is coming down because it's being DUMPED, it's so obvious."
So the fact that this stock took a dive at(11:10),almost the exact time the SA article was posted (11:07)was mere coincidence?
Marijuana in America on CNBC tonight 10 pm EST. This is at least their third special on this subject.
Market Maker Speaks Out: Ways of a Market Maker
If you have the time to read this you might find it interesting:
http://shockertrades.blogspot.com/2011/05/market-maker-speaks-out-ways-of-market.html
There is too much negativity surrounding Bitcoin. I'll be happy when the banks and major credit cards get on board. Also, after reading the Seattle Times article I spotted another interesting link about hash oil explosions. Anyone care to bet someone tries to use this as an excuse to ban voporizers and e-cigs?
http://seattletimes.com/html/localnews/2022868147_hashfiresxml.html
The pump and dump of this stock may have nothing to do with the people who work there. I believe it's a legitimate company but the promoters have their own agenda, unfortunately. This site claims the promotions were actually illegal. As always, buy at your own risk and not with money you need.
http://www.pumpsanddumps.com/search?q=nvlx
Many MMJ or related stocks are the subject of a "promotion". The http://www.pumpsanddumps.com/ site has them listed. This is part of my DD. MWIP has been listed on occasion. Just something you might want to check into if a stock is surging, you'll want to know if it's good news or a "pump".
Hopefully it will be good for MWIP. But it really looks like the gov't just wants to keep track of the money. They're afraid they won't get their piece of the pie. A lot of room for cheating in an all cash business.
The big credit/debit card issuers are balking as well, specifically American Express.
http://www.cutimes.com/2014/01/15/processing-payments-for-legal-pot?t=credit-union-management
Have to be careful here. MWIP and PHOT are both listed on the PumpsandDumps website recently. There may be more MMJ stocks on their list as well. Someone has been promoting these stocks and that could explain the run-up lately. Not likely done with consent from the companies themselves, just someone trying to take advantage. But the big money gets out first and leaves bagholders in the dust.
As long as we're on the subject, here's a link to a bunch of them. I guess we had our run the past few days and it's someone else's turn.
http://marijuanastocks.com/content/list-marijuana-stocks
This reduces mwip debt?
I've been thinking about this. It's possible your broker combined all of your buys and sells together, including the shares you sold last time at a loss. Many brokerages like to do cost averaging but it can be a nuisance to sort stuff out later. It should be separate though, as the reporting years will be different.
It means we have a backer at 9.99%. He sure picked a roundabout way of doing it:
"Reporting person John Fife is the sole shareholder of reporting person JFV Holdings, Inc., which is the sole shareholder of reporting person Red Cliffs Investments Inc, which is the Manager of reporting person Typenex."
We need an enterprising person to create a marijuana mutual fund or ETF to cover all the companies.
I just came in from shoveling myself out. Still snowblind from all the white but pleasantly surprised to see plenty of green with todays first look at MWIP..
what is that thing in your profile picture anyways? some kind of pig or something?
DENVER — Colorado embarked on a bold experiment on Wednesday with legalizing marijuana, as shops from downtown Denver to snowy ski resorts began selling the once-illicit drug to any adult with proper identification and a hankering for a hit of Blue Diesel or Kandy Kush.
To supporters, it was a watershed moment in the country’s tangled relationship with the ubiquitous recreational drug. They celebrated with speeches and balloons, hailing it as akin to the end of Prohibition, albeit with joints being passed instead of champagne being uncorked.
To skeptics, it marked a grand folly, one they said would lead to higher drug use among teenagers and more impaired drivers on the roads, and would tarnish the image of a state whose official song is John Denver’s “Rocky Mountain High.” The governor of Colorado and the mayor of Denver both opposed legalization, and stayed away from the smoky celebrations on Wednesday.
While some 20 states allow medical marijuana, voters in Colorado and Washington State decided last year to go one step further, becoming the first in the nation to legalize small amounts of the drug for recreational use and regulate it like alcohol. Ever since, the states have been racing to devise rules detailing how to grow it, sell it, tax it and track it.
In both Colorado and Washington, recreational marijuana has been legal for more than a year. Adults can smoke it in their living rooms, and eat marijuana-laced cookies without fear of arrest. In Colorado, they are even allowed to grow up to six plants at home. But until Wednesday, dispensaries could sell only to customers with a doctor’s recommendation and state-issued medical-marijuana card.
Now, any Colorado resident who is 21 can buy up to an ounce of marijuana at one of the 40 dispensaries that began selling to retail customers on Wednesday. Out-of-state visitors can buy a quarter-ounce, but they have to use it within the state. Carrying marijuana across state lines remains illegal, and the plant is not allowed at the Denver International Airport.
Washington’s marijuana system is at least several months behind Colorado, meaning that fully stocked retail shelves probably will not be a reality at the consumer level until perhaps June.
While Colorado incorporates the existing medical marijuana system, Washington is starting from scratch, with all of the production and sale of recreational marijuana linked to the new system of licenses, which will not be issued until late February or early March.
“After that, it’s up to the industry to get it up and running,” said Mikhail Carpenter, a spokesman for the Washington State Liquor Control Board, which regulates the system and is processing almost 5,000 license applications to grow, process or sell.
Growers can start a crop only after they get a license, Mr. Carpenter said, and retailers can sell only marijuana produced in-state by licensed growers when that crop comes in.
With the advent of legal, recreational marijuana, Colorado and Washington have become national petri dishes for drug policy. Their successes or failures will be watched closely by Arizona, Alaska, California, Oregon and other states flirting with the idea of liberalizing their marijuana laws.
Questions still abound. Will drug traffickers take marijuana across state lines, to sell elsewhere? Will recreational marijuana flow from the hands of legal adult consumers to teenagers? Will taxes from pot sales match optimistic predictions of a windfall for state budgets? What will happen to the black market for marijuana?
Skeptical federal authorities are also paying attention. Although marijuana remains illegal under federal law, the Justice Department has given a tentative approval for Colorado and Washington to move ahead with regulating marijuana. But it warned that federal officials could intervene if the state regulations failed to keep the drug away from children, drug cartels or federal property, and out of other states.
Kirk Johnson contributed reporting from Seattle.
http://www.nytimes.com/2014/01/02/us/colorado-stores-throw-open-their-doors-to-pot-buyers.html?_r=0