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It will be on the website the entire broadcast. Much better if you listen to it. That being said- this BOARD has been referenced and noticed. Congrats folks
Agreed. They are really well informed of the business.
Great answer for the earnings miss by both Rob and Sterling.
OfficerK questions are on!!
Agreed
Long term means you trust them. Are they competent if they miss their estimates? Worse- why is there no explanation? So you trust someone who says one thing delivers something less and tells you no reason?
Fair enough. What are the rules on reading prior messages? This was implired
Ask that in 3 years. Dude they have -4M earnings this year. Can't calculate P/E ratios. Geez I knew that when I was 16!
Due dilligence
GrowLife is an investor of this
Their revenues are going increasingly more negative.
Is there any info on Vape before the merger?
Cool, thanks for the info. I'll read it.
GrowLife is a signed shareholder of the merger. Sterling is also listed as a separate shareholder. No spinoff here. I'm glad this is not a diversion of more time/energy, perhaps they will just be active shareholders.
This company lacks discipline and focus. Tons of new ideas, I don't see the real business operations culture. I see the Pot culture. Might be too laid back to really win.
This lack of focus is bothersome. Smart people can build a whole company out of any of the multiple streams of revenue. They have massive problems already. Their most expensive phototrons are not avail (expensive means profits). Now they start kiosks. That takes more money and focus. How the hell are they going to do everything? What's the plan? Smoke pot?
Thanks!
This company has passion and ideas. Not enough to really build a company. I hope to God that Sterling has read how the founders of Starbucks, Dell, Apple, etc have done it. They are already behind with the capital structure. 650M shares? That's like a MNC (multinational company size).
Pretty impressive support
Ask then tonight. That's management incompetence. Operations management.
GIFT would be nice.
Makes sense; thanks for your comments.
Agreed.
PHOT files SEC statements. The FDA policy on Schedule 1 drugs (marijuana) is quite clear. These guys know what and how to report while staying legal. That's hard to do and I trust them on that.
The most serious issue is whether they know how to grow GrowLife. There are a lot of HBS cases on this subject. I've read them. Do they have anyone in their company that has?
Nice thanks for info. I'm glad they will address thats cool.
I agree and have thought about that. You're wondering if they are even competent in the legal side which is their core strength. I think they are since they are plugged into the legal network. I just wonder if they are plugged into the capital network of competent businessmen. Competent meaning growing a national business. Not just adding numbers and filing reports and running a few stores.
Anyone can add numbers. They are lawyers and are expected to be anal.
Business is different. Scaling a company is hard. Like you need strategy, money, planning, branding, staging, vehicles, etc etc. there's a way to learn that. It's called a MBA. No one has that. No one on their board has done that. They don't have a clue on how to do that. Now if they had a few smart people from amazon, apple, google, Netflix, etc on their board then that might make a difference.
I mean I've watched hours of videos of Sterling and Rob Hunt. They are passionate. They are smart. They know the legal side. But are they businessmen who know how to scale a company? Clearly not or their estimates would have been better.
No I mean the exec team is anal. That is good. Anal and passion still does not mean business competence.
Those were estimated. They missed their forecast of the 3rd quarter by $500k with no explanation either by pr or a 20 page SEC filing. Which we don't know why and thats why the stock is down. They get a chance to explain tonight and thats why the stock is holding today.
They're dream team includes no one with a real business background. That is problematic because with the Miss theres many people who wonder if they know what the hell they are doing.
They would have mentioned what was not included. I think its more likely they have just merged. It's just been 6 months, successful mergers take up to a year. It's heartening they are trying and the merged partners are talking in public today with Alan and some leaders in the industry. They clearly have nothing to hide.
Especially when there they lost $4M
They would have said they were not reporting or including the numbers. Basic accounting. That filing is very very detailed. These guys are anal. No way they would have missed an opportunity to reconcile 500k
5 pm EST. what is the link please
I doubt that since this is a SEC filing. That being said they get an A+ for trying. What they really need is some advice from people who know how to scale a business. They're acting like typical entrepreneurs.
Sterling wants to build a brand that will last for decades. Let's see what he has to say tonight. His passion is there and so is Rob's, I just hope they are competent. They can certainly write detailed SEC statements so i imagine they have a good idea of the company's state of affairs.
That was me. No news I'm just interested in what they have to say. 1M shares
And a merger usually takes about 2 years to complete. that being said, early numbers are telling and they did not meet those numbers. This reflects a difficult merger, erroneous information, or worse incompetence.
It's all on their website, the merger happened in June.
Look it's a bit obvious you might have not read all the filings. I spent a weekend in August researching this company, made an investment, and had an exit strategy based on whether their earnings target was met. That didn't happen. I'm disappointed although I did very well, because I was expecting a Cinderella company.
Well that would be even worse, right?
I don't dispute those numbers on page 3. I wish they were $500k higher as Sterling reaffirmed they would be just a few weeks ago. NOT.
hopefully they will have some great reasons. Shitting down the SG grow light business while trying to start new lines of revenue (kiosks) sounds almost desperate. if you look at the first few pages you will realize they actually state it is highly unlikely they will be continue to be a going concern. not good. That means your investment is the highest risk there is. Watch it.
What it really means is that the merger is not working out very well at all. Do you know anything about M&A?
Of course. the point is those 7 stores, if they were together last year, made in total more than they did this year. That is bad business. Is that really hard to understand?