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Nice RSI reset
Look at that volume
There is a boatload of shares
The current market cap doesn't reflect the share price smdh
I'm just not too excited about the share count increase
Some brokerages will not allow you to trade a stock that is not up to date with current financials. Same may display a warning. Additionally its a easy way to say that some traders are hesitating or not participating in a stock until it becomes current.
Sleek move over there's a new sheriff in town (of people talking to themselves).
That wasn't from the email address you posted earlier correct? I'm just clarifying, due to the fact it was suger as opposed to sugar haha. Was this just a messup in your post? And I thought Jimmy's email was @carryout. Not jumping on you just want to clarify so everybody has the correct contact info.
Haha yea has to be BizRite. The deal happened in Q1, revenues to start showing in Q3. Also the new financial system was stood up in Q3. Could you imagine the chaos on here if we found out that BudLife was for sale already?
Budlife just hit the 6 month mark on the tests over the weekend...
Under the current ownership, it did spike to above .40 in Jan. when the entire sector exploded and corrected.
At the end of the day we have an agreement with a company that does over 30 mil in revenues in penny land. What more can you ask for
Completely agree. It's similar to having a political conversation (which I have no desire to do on here). I am willing to listen to the other side if it is presented in an effective way, I actually find it quite beneficial so I can take more things into consideration and learn. However if it is because I said so and if you don't believe me then your a dumb nazi that I zone out and laugh.
I understand that some have said shareholders will pay for expenses. It still has not addressed the low float or the exceptional growth/orders we have since the new years. I have yet to see one argument that will push us below .10 that is convincing. And because I'm stubborn, if it somehow someway gets to .12 I will continue to buy to make sure it doesn't get to .11 or .10 just so y'all don't get in on the fun.
What is there to question?
Offer Revenue Guidance on March 30th for Rapid Cannabis Sector Growth – Begins to Recognize Revenues From Multiple New Revenue Streams
City of Industry, CA -- March 20, 2018 -- InvestorsHub NewsWire -- Sugarmade, Inc. (OTC:SGMD) one of the largest publicly traded cannabis-related hydroponics supply companies, today announces a significant milestone for the Company with the beginning of revenue recognition relating to its master marketing agreement with cannabis cultivation and hydroponic supplier, BizRight Hydroponics, Inc.
The Company is now recognizing revenue under this new agreement with the month of April expected to be the first full month of reporting. Sugarmade expects to see rapid growth in realized revenues throughout the June quarter and throughout fiscal 2018.
What made you come to this conclusion?
What made you come to this conclusion?
First off, I want to state that I do like hearing all peoples opinions. I take into consideration what everybody says because there is usually some sort of thought behind what somebody says. I even listen to the weather man who can be wrong 70% of the time but just keeps showing back up day in and day out.
System was up and functional according to a pr on March 7th. So Q4 will be the first full q in the new system. And Q3 should be quicker than Qs 1 and 2.
If Q4 isn't on time I will be severely let down. You can see the weight they are moving through the panjiva shipments to tell that it's a real company, but by having the full Q in the new system they have no reason to not be on time.
Moving systems was good, it shows that they are looking to actually grow as a business by setting up a better IT infrastructure. Lets just hope their data architects aren't worthless.
Luckily Simon Yu has ties to the company so I don't think this is the case.
While I agree, it depends on how the previous data was stored and what the data migration to the new system look(ed)(s) like. That is the biggest question for me. So I'm holding strong for now. But with the Q's that from start to finish are in the new system, there are no excuses.
Trying to fight off this head and shoulders
Don't have pictures, but the amount of panjiva shipments that frontloading has posted lets you know that this company moves a ton (literally hundreds of tons) of weight.
Still long on this puppy!
I'm disappointed we haven't at least gotten one Q. I don't know how the previous data was stored and what the transfer to the new system looks like. I know the Q's will come, just like the previous years did. Still thought the new accounting team would be further along by this point. I still know SGMD is gonna make it, just wish we didn't have to take the detour haha.
Thank you for your service
I'm pretty curious about the WHO Convention in Geneva in early June, I think that could be the thing that pushes some of these laws forward.
Hopefully come June 12th, there are actual metrics that can be used for the BudLife testing that compares a traditional mason jar side by side with the BudLife lid. It would be nice to see "had 68% less bacteria, mold, whatever the hell you wanna market just something". I dont want them to wake up the flowers and it be like "well it looks good!"
I feel like its time to start ramping up the BudLife moves.
I'm also curious to see how SrirachaStix did during the Thanksgiving/Christmas quarter.
Trump is big on addressing the opioid crisis and here is an opportunity. Obviously liberals are for greater legalization, but he could pitch to conservatives on individual state rights, taxes and addressing the opioid epidemic/medical purposes. It is funny how liberals typically want big government and conservatives want smaller state governments except on this topic. I think the view of mj today is almost like alcohol during the prohibition. Not quite to that extent, but to the point where its outlawed but its not going to stop anybody. Might as well try and make some tax money off of it.
I might start day drinking if Jimmy decided to drop a q and some budlife news about right now. Hell even if it was more insight on Sriracha Stix, just any pr really haha.
https://marijuanaindex.com
Last 6 months look familiar? The last runup we were years behind not quarters. Getting current will only compound gains with following the sector imo
People were cashing in on a 1300+% run over the previous two months. Entire sector went up and down right then. Yes moves like that can happen, but you picked out a specific day where the sector was extremely volatile on the way up only to have Jeff Sessions rescind the cole memo and everyone wanted to cash out on the massive gains that took place. Just an observation. I'm open to other opinions just because I want to see all angles, but I personally don't see it getting back down to .10. It is a couple pieces away from being extremely successful.
Good callout mud. Lets see 10K was filed 3 weeks ago, brought on new auditors 10 days ago. So hopefully working on Qs 1-2 aggressively over the past 3 weeks. Financial system enhancements completed 3/07, so depending on how the previous data was stored and what the migration process looks like could make a difference if its on time or not. By the time may 15th rolls around i'd be disappointed if they hadn't at least gotten Q1 & 2 out. Then if for whatever reason they do miss Q3 hopefully we would be current within a week or two. Q4 is going to be the first quarter to be fully input from start to finish on the new system. So there will be absolutely no excuses going forward haha
Yea I'm not holding my breath for Q3 to be on time, considering we've got other Qs to take on too. Not sure if they're planning on doing incremental Qs as soon as they're done or dumping them all at once. Incremental would be cool to show that they are making progress and help maintain the share price from dropping. If they did them all at once, no telling what the jump up could be like.
That should blow us by resistance levels
Thanks for the update man
When my brother first started out he found himself going into debt. $10,000. He realized it was an issue and wasn't sustainable. Roughly $6000 on a high APR credit card and $4000 on a lower APR loan. It took some work and some changes, and he knew that he needed to pay off and address all of it. He knew it would be more beneficial to knock out the big chunk high apr first, but obviously still address the lower one as well.
Year filings>Quarterly filings
Look at a on your list
Year filings are done. Qs aren't on deck anymore, they're up to the plate and will come through.
We'd be looking at a game changer. Think about if chipolte could have identified specifically which containers were contaminated as soon as they were aware of an issue. Think about recalls in grocery stores due to x product might have salmonella and being able to pinpoint the batch associated with it.
If SGMD creates a new unique tracking software you're exactly right, I'm not even going to let my mind go off into that fantasy. I work in IT for a large company and it is astounding how much money is spent a year on software/service charges. Definitely will be interesting to see the development with that
While I see your argument, I tend to hold the idea that focusing on getting the year current was more important.
SGMD has a new accounting system and team, so they likely had to go through every nickel inputting it into the new system. The change of a system, data migration, likely data architecture/schema change, QA and implementation can be an extensive process. Honestly the fact they got out the previous years info within 3 months of changing systems is impressive. I'm not sure how the previous data was stored so I can't comment on how quick the transition should have taken place.
I'd like to know if the new system is a reoccurring charge and who owns the data. I'm not sure if we purchased the software and put it on one of our boxes or pay an annual service charge. Both obviously have advantages and disadvantages, but moving to a new system now was definitely beneficial for longer term sustainability. Who is our IT guru again? Is it frontloading who knows? If we plan to grow at as rapid of a pace as we plan on, I hope we have some team members with some decent infrastructure vision/knowledge. And I'm sure we do now thanks to our pals at BizRight. They aren't doing +30 mil without some sort of IT knowledge.
Don't know how I ended up on this rant haha, but I guess what I'm getting at is I feel like we will be more efficient going forward with reporting with the new system.
Bid ask is toit like a toiger