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Does anyone know Bill's salary? Serious question, looking for a real answer. Not looking for spin.
Agreed. Scare tactics for weak hands.
Does anyone know Bill's salary? If so, what is it? Just curious.
You don't see sarcasm in those words? That's why I'd like to hear the audio from the conversation. It is too easy to change intent in written form, especially when it is being told from a certain POV.
So much conjecture and speculation on this board. Everyone has an opinion and no one has an answer. I'll say it again and again, Bill speaks in hyperbole. And obviously he has an ego and is sarcastic. Regardless, the odds are that we get a license. Isn't that all that matters?
As far as the SEC, I highly doubt that we'll be suspended. As everyone knows, Bill is a lawyer. And our COB knows how to deal with the SEC. I agree that Bill needs to tighten up. At this point though, I see that he doesn't care. Maybe he knows more than he is revealing.
So ride the stock up and down. One of these days here soon there will be a big gap up.
So it doesn't sound like you think Cen will be denied the license, you have an issue with Bill himself and his modus operandi. I think he could handle himself a little more wisely, especially in interviews. Will his ego get in the way of the company, or is the company bigger than him? We shall soon find out.
Hype! Hahaha! All MJ companies are hype! Especially in the U.S.
There is no conservative play in MJ. They're all spec except for Tweed and that stock has some issues.
I hear you on Bill. Did he? Maybe the question should be, if he gets the license, does it even matter? Morals not withstanding.
As far as generics though, people generally trust name brand over generics, even if they're the same. Or even if they're worse for that matter. People trust corporations because there is a sense of familiarity. They think they know them...
People, Chris Parry writes a blog on Stockhouse, a small Canadian website that talks about and promotes stocks. There is a big difference from being a journalist and being a blogger. He writes like a blogger and talks like a blogger, not a journalist. He uses subjective innuendos and pejoratives. He brings up some points, but his intent is obviously malicious. He does not like Bill and judging by Bill's responses, Bill does not like Chris.
Do your DD on Chris Parry and you'll find out all you need to know. He has an agenda.
I disagree. Recognition is very important! If you are trying to establish a footprint in a new industry, you should hope to have some sort of name recognition otherwise no one will know about your product. Advertising and marketing is extremely important in the early stages of a company prior to release of a product. Your product might be the best, but if no one knows about it, it might as well not even exist.
As far as Mom and Pop vs Corporate Enterprises. I bet if you ask 100 people to name their favorite hamburger restaurant, most people would say McDonald's or Burger King, not the Mom and Pop joint. Or what was their favorite Italian restaurant? Most people would say the Olive Garden. I prefer independent operations to chains or corporations, but what Bill is trying to do is build a corporation which is why this company is publicly traded. That being said, his promotion is necessary, albeit a bit much at times. I'm certainly not a big fan of the World's Largest. I think he could tone it down a little with the rhetoric.
I've done my DD. I know all about the exaggerations, the embellishments, the hyperbole, of the man named Bill. And I know about the issues with the share structure.
I also know that he has built a facility, he has the city behind him, he has a solid board, he has financing, he has media connections, he has done all things he needs to do to get this company off and running. Yeah, it might not be the biggest and his dream to make it the biggest might be a fantasy. Can he do it? I don't know. He definitely has made a lot of promises and there is a lot of expectation.
What I do know is that if he gets a license this stock will jump and I will make money. And the odds are pretty high that he will get a license.
Bragging or publicity? He is definitely a pitchman, but he's a well-connected pitchman. I agree he sometimes gets ahead of himself with his ideas and his plans, but no other MJ CEO has been able to generate as much press as him. Sometimes, as a start up, name branding and recognition trumps everything else.
It is more than other spec MJ companies have received, no?
And he knows how to get $20 million in financing
I'm pretty sure that last quote was taken out of context. It sounds like sarcasm to me. In fact a good portion of those quotes do not sound like someone who, as Parry put it, comes across as a lawyer. Unfortunately intent or tone doesn't transfer to the written word, so if you believe Parry, who himself has a tendency to sensationalize, than it sounds bad. I think Bill's problem during this conversation was that he wasn't careful with someone who is looking for him to mistakes. Parry is playing gotchya journalism. He takes things out of context to suit his agenda and story. He should work for Fox News.
I would have liked to hear the interview. Maybe that would clarify how the questions were asked and answered.
What it comes down to is, are you going to believe a second rate writer with an obvious slant or a boastful CEO who tends to get a head of himself?
One thing for sure, no one can deny that it is a legit company waiting to get approval for a license. Even Parry agrees with that.
Glad we have a former global capital markets securities fraud examiner who worked with the U.S. Securities and Exchange Commission (SEC) as Chairman of the Board!
He'll probably have him sign a non-disclosure agreement. I do it all the time for my work. Having an individual tour a facility under privacy laws is different than posting public pictures.
Bill on FB just invited Chris Parry for a tour of the facilities...
Hardball with Chris Matthews on MSNBC right now talking about medical marijuana
Hardball with Chris Matthews on MSNBC right now talking about medical marijuana
The guy thinks he "broke" a story and then goes on to make fun of Bill. Sounds like real professional to me... Be wary of the messenger. He sounds like a pumper and dumper himself.
Chris Parry should stick to writing movie reviews. Upon a simple Google search, I found this is the same guy who told people under an alias to go post racist remarks on conservative websites to try to make conservatives look bad and stoke controversy. He obviously has an agenda regarding Cen.
http://www.liveleak.com/view?i=1f8_1247542627
And you don't think anyone else is capable of blowing hot air? That company does not have the final license either.
All but one MJ stocks are spec companies.
Bill does speak hyperbole, but most of the things he has said have so far come true. We all know he gets ahead of himself. But just because some things haven't happened exactly they way he said it would, does not mean that they won't happen. The fact that people questioned that the vault existed, or the fence, or the buildings shows you that some are indeed either shorting or hating, or both.
Outside of Tweed, Cen really is the closest publicly traded company to MJ production, like them or Bill or not.
I'm not worried about the skeptics. It is good that articles are put out there that question things. It keeps things honest. The way I read it is that Bill has plans and he hasn't yet submitted the paperwork for a few of those things, but that doesn't mean it won't happen. The city hasn't said no to anything, nor has CH. Bill is definitely a salesman and he sometimes gets ahead of himself.
However, even if Cen won't immediately be the world's largest, and pending the license will be only 1/3 the size of Tweed. Tweed's current PPS is $2.90. Cenergy has added outstanding board members. And yes there are a ton of shares, but even with all that, FITX should at least land between .25 and .40 if they get their license imo. I'll take that! And once they get the ball rolling with this new Chairman on board, there will be even better things down the road. Maybe it will be the biggest. You just have to ignore the hyperbole and go on the facts, as the author said.
This is why Terra Tech is a strong play... Yes, it is from March, but it is just a reminder.
http://m.seekingalpha.com/instablog/379412-darren-mccammon/2772083-trtc-has-a-large-opportunity-in-las-vegas
TRTC Has A Large Opportunity In Las Vegas
Mar 20, 2014 3:32 PM
According to this Las Vegas Sun article, http://www.lasvegassun.com/news/2014/mar/19/las-vegas-allow-medical-marijuana-dispensaries/, Clark county (the county where Las Vegas is) just approved land use and licensing rules for commercial marijuana growing in there county. While this is interesting news for a number of players in the industry (OTC:PHOT, OTC:CANN, OTCPK:ATTBF, FULL, etc.) it is key for OTCQB:TRTC. Establishment of the regulations allows TRTC to move forward with a commercial cannabis growing facility in the area. As a matter of fact, since TRTC formed a Nevada team headed by connected Rebecca Gasca, I would be surprised if they didn't have some influence in writing them.
For those who may not be aware, Nevada dispensaries will be able to accept medical marijuana cards from other states and they are limiting how many suppliers will be approved. Furthermore, there are three potential licenses: one to grow, one to process and one to distribute with rules and hoops to jump through to get each one. It's basically set up to limit the market to a few large, well controlled facilities. So those like TRTC with ins are set up to succeed in what you got to think is going to be the largest medical marijuana market in the country, Las Vegas.
I never said such a thing. I said people are jumping to conclusions and speculating when they have no evidence or proof of anything. No one knows when, or if, they will get their license. So there is no reason to throw out days to this or days to that regarding the pre-license or license. No one knows!
It's kind of like when Apple says the have a new product which they haven't yet released. You have to prime the market.
SO much misinformation and conjecture here. All those making statements about how long it takes to get a license, as if they know, please back up your opinions with facts. And if you don't like the CEO, consider the fact that he is able to market his brand better than anyone else in the sector. He is frequently getting press on major media outlets. If you think he is selling snake oil, then don't buy it and move on.
That is some great news!
Colorado Approves First Marijuana Banking System
http://www.huffingtonpost.com/2014/05/07/colorado-marijuana-banking_n_5284442.html
Colorado lawmakers approved the world's first financial system for the marijuana industry Wednesday, a network of uninsured cooperatives designed to give pot businesses a way to access basic banking services.
The plan seeks to move the marijuana industry away from its cash-only roots. Banks routinely reject pot businesses for even basic services such as checking accounts because they fear running afoul of federal law, which considers marijuana and its proceeds illegal.The result: Pot shop owners deal in large amounts of cash, which makes them targets for criminals. Or they try to find ways around the problem, like drenching their proceeds in air freshener to remove the stink of marijuana and try to fool traditional banks into accepting their money.
"This is our main problem: Financial services for marijuana businesses," said Sen. David Balmer, R-Centennial. "We are trying to improvise and come up with something in Colorado to give marijuana business some opportunity, so they do not have to store large amounts of cash."
Colorado became the first state to allow recreational pot sales, which started Jan. 1. Washington state will follow suit, with retail sales expect to start in July.
The U.S. Treasury Department said in February that banks could serve the marijuana industry under certain conditions. With the industry emerging from the underground, states want to track marijuana sales and collect taxes. It's a lot easier to do that when the businesses have bank accounts.
But most banks have shrugged at the Treasury guidelines, calling them too onerous to accept marijuana-related clients. The result is a marijuana industry that still relies largely on cash, a safety risk for operators and a concern for Colorado's pot regulators.
"This is not something that we can wait for any further," said another banking sponsor, Rep. Jonathan Singer, D-Longmont.
The bill approved Wednesday would allow marijuana businesses to pool money in cooperative s, but the co-ops would on take effect if the U.S. Federal Reserve agrees to allow them to do things like accept credit cards or checks.
Democratic Gov. John Hickenlooper supports the pot bank plan and is expected to sign it into law, though a spokesman said Wednesday the governor had yet to review the final language.
Lawmakers from both parties supported the banking co-ops as a way to properly audit marijuana shops and to make sure they're paying all their taxes. Dispensary owners came to the Capitol this session to tell of their difficulties paying taxes and utilities in cash and the dangers of dealing in cash.
"It is very easy to see somebody get killed over this issue," Marijuana Industry Group Director Michael Elliott testified last month.
The plan had bipartisan support, though some Republicans said that the effort won't pass federal muster.
A few banks are accepting marijuana clients in light of the federal regulations.
Numerica Credit Union in eastern Washington state is accepting limited business from marijuana growers and processors, The Spokesman-Review reported Wednesday.
Colorado pot shop owners say a small number of credit unions will do business with them, too, though no banks or credit unions have said so publicly.
Countries that don't ban marijuana don't have banking systems unique to the drug.
___
Kristen Wyatt can be reached at http://www.twitter.com/APkristenwyatt
Colorado Approves First Marijuana Banking System
http://m.huffpost.com/us/entry/5284442
Colorado lawmakers approved the world's first financial system for the marijuana industry Wednesday, a network of uninsured cooperatives designed to give pot businesses a way to access basic banking services.
The plan seeks to move the marijuana industry away from its cash-only roots. Banks routinely reject pot businesses for even basic services such as checking accounts because they fear running afoul of federal law, which considers marijuana and its proceeds illegal.The result: Pot shop owners deal in large amounts of cash, which makes them targets for criminals. Or they try to find ways around the problem, like drenching their proceeds in air freshener to remove the stink of marijuana and try to fool traditional banks into accepting their money.
"This is our main problem: Financial services for marijuana businesses," said Sen. David Balmer, R-Centennial. "We are trying to improvise and come up with something in Colorado to give marijuana business some opportunity, so they do not have to store large amounts of cash."
Colorado became the first state to allow recreational pot sales, which started Jan. 1. Washington state will follow suit, with retail sales expect to start in July.
The U.S. Treasury Department said in February that banks could serve the marijuana industry under certain conditions. With the industry emerging from the underground, states want to track marijuana sales and collect taxes. It's a lot easier to do that when the businesses have bank accounts.
But most banks have shrugged at the Treasury guidelines, calling them too onerous to accept marijuana-related clients. The result is a marijuana industry that still relies largely on cash, a safety risk for operators and a concern for Colorado's pot regulators.
"This is not something that we can wait for any further," said another banking sponsor, Rep. Jonathan Singer, D-Longmont.
The bill approved Wednesday would allow marijuana businesses to pool money in cooperatives, but the co-ops would on take effect if the U.S. Federal Reserve agrees to allow them to do things like accept credit cards or checks.
Democratic Gov. John Hickenlooper supports the pot bank plan and is expected to sign it into law, though a spokesman said Wednesday the governor had yet to review the final language.
Lawmakers from both parties supported the banking co-ops as a way to properly audit marijuana shops and to make sure they're paying all their taxes. Dispensary owners came to the Capitol this session to tell of their difficulties paying taxes and utilities in cash and the dangers of dealing in cash.
"It is very easy to see somebody get killed over this issue," Marijuana Industry Group Director Michael Elliott testified last month.
The plan had bipartisan support, though some Republicans said that the effort won't pass federal muster.
A few banks are accepting marijuana clients in light of the federal regulations.
Numerica Credit Union in eastern Washington state is accepting limited business from marijuana growers and processors, The Spokesman-Review reported Wednesday.
Colorado pot shop owners say a small number of credit unions will do business with them, too, though no banks or credit unions have said so publicly.
Countries that don't ban marijuana don't have banking systems unique to the drug.
___
Kristen Wyatt can be reached at http://www.twitter.com/APkristenwyatt
New article from Seeking Alpha -
http://seekingalpha.com/article/2200213?
Growing Marijuana Is Still Illegal For Growlife Inc. And Other Pot Stocks
May. 7, 2014 5:33 PM ET
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
Summary
Marijuana is still illegal under federal law.
Attempts to reclassify marijuana from Schedule I to Schedule II have failed for over 4 decades.
Marijuana stocks have been halted by the Securities Exchange Commissions 5 times recently.
Growlife Inc. (OTC:PHOT) and most marijuana stocks in the pot sector have enjoyed phenomenal growth and volatility this year. This is a natural cause of fear and greed for this new industry potentially worth tens of billions in the future. What I think is one of the biggest risks for marijuana stocks is rarely talked about. Marijuana is still illegal across the United States.
Still Illegal Under Federal Law
Although I think the marijuana industry will be booming one day, it certainly may not come any time soon in the United States. The fact is the use of growing and/or using marijuana is still illegal under federal law. The Drug Enforcement Administration (DEA) still have the full power and authority to prosecute anyone or business with the use/sale of marijuana. Marijuana is still classified as a Schedule I drug. Schedule I drugs are considered highly addictive and having no medical value. Currently, the DEA is choosing not to prosecute those small businesses selling marijuana and patients using them for medical purposes. However, there have been cases where the DEA decided to enforce the Controlled Substances Act (CSA) (21 U.S.C. § 811). CSA does not recognize the difference between recreational or medical use. This law can be used to prosecute any person who possess, cultivate or distribute large quantities of marijuana.
Many investors argued that 21 states and the District of Columbia have legalized medical marijuana. Two states, Colorado and Washington, have legalized marijuana for recreational use. That's a valid statement and does bear weight. However, that represent a conflict between state and federal laws.
Before you get excited, you have to consider something called Preemption. Preemption allows federal law to replace/preempt state laws when they are conflicting with each other. It will take more than an act of congress to change this rule as it is part of the constitution under the Supremacy Clause.
Growlife and Terra Tech (OTCQB:TRTC) are both planning on growing their marijuana indoors. This is a good strategy as greenhouses offer more control over quality and secure their inventory against theft. Both of these companies are planning on growing it in the U.S. That represent a high risk of the federal government, mainly the DEA, sending their agents in to seize the property. Investors may think it's wrong and illegal because state laws may allow it. However, federal law will preempt state law every time if the DEA chooses to prosecute. Even if the case is appealed up to the Supreme Court, the ruling will always rule in the DEA's favor due to the Supremacy Clause of the constitution.
Consistently High Risk
There had been 5 different suspensions by the SEC recently in the pot sector. The publicly traded businesses affected were: Growlife Inc., Citadel EFT. (OTC:CDFT), Aventura Equities. (OTC:AVNE), and Petrotech Oil & Gas, Inc. (OTC:PTOG), Advanced Cannabis Solutions (OTC:CANN).
The reasons were:
PTOG: The Commission temporarily suspended trading in the securities of PTOG because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the company's operations. Source
AVNE: The Commission temporarily suspended trading in the securities of Aventura 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. Source
CANN: The Commission temporarily suspended trading in the securities of Advanced Cannabis due to a lack of current and accurate information concerning the securities of Advanced Cannabis. There are questions regarding whether certain undisclosed affiliates and shareholders of Advanced Cannabis common stock engaged in an unlawful public distribution of securities. Source
CDFT: The Commission The Commission temporarily suspended trading in the securities of Citadel 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. Source
PHOT: The Commission temporarily suspended trading in the securities of PHOT 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. Source
While not every case is the fault of the business, it does represent a high risk to current investors with so much potential illegal activities and stock manipulation going on. PHOT's recent SEC trading halt caused the stock to fall more than 60%. Sitting at $0.16 per share, it is a mere fraction of its former 52 week high $0.78 share price. Investors who came at the height of the hype found themselves losing most of their investment rather than enjoying the expected high growth.
What Does It Take To Legalize Marijuana At The Federal Level?
There's two ways to legalize marijuana. The first is to change its status to Schedule II to be legally use for medical purposes. Schedule II are drugs with legitimate medical use but have strong potential for abuse and/or addiction. The second method is to change the federal law making marijuana as legal as cigarettes.
Changing the status of marijuana to Schedule II isn't easy. This had been attempted multiple times in several decades. One of the first attempts was in 1972. NORML petitions the DEA to reschedule marijuana. It was not resolved until 1994 when the court ruling in favor of the DEA to keep its Schedule I status. The most recent attempt to reclassify marijuana was in Jan 22, 2013. The case of Americans for Safe Access v. DEA. The U.S. Appeals Court ruled in favor of the DEA once again because "medical efficacy of marijuana do not exist".
The second option was to change the law legalizing marijuana. Currently 21 states and DC legalized medical marijuana. However, only 2 states legalized recreational. That's not hopeful when you need to get over 50% votes in the House and Senate to pass the law. Marijuana is very popular in high density populated states. I think states like New York or California will soon legalize it for recreational use. There's a good chance that we can get more than half of the House to vote for the bill. The Senate is another story. You need 26 states to vote for it in the Senate. I don't think this will happen anytime soon. This is because legalizing marijuana will make it legal for both medical and recreational. Right now, only 2 states agreed to that. We've got another 24 states to go and a President that will agree with it.
Final Thoughts
I don't think many investors really think about the potential risks associated with this new controversial industry. While I wholeheartedly support the movement to legalize marijuana, investing is about money. I would be hesitant to invest in any marijuana stock with plans to grow within the U.S. The risks are high and the pot sector as a whole have shown consistent shady activities. Right now, it's clear that sky high share prices were driven by hype. PHOT was once valued over $400M with revenue well under $10M. I believe in PHOT's management. I also believe their current valuation of $128M market cap is closer to reality but still too high.
For investors in multiple pot stocks across the sector, I highly recommend them to reassess your risks. These stocks are not only overvalued, they are having trouble getting adequate financing from banks. Even though the Obama administration provided new federal guidelines allowing banks to provide financial services to legal marijuana sellers, it's a guideline that's in contradiction to itself because marijuana is still illegal at the federal level. The American Bankers' Association have noted that it is still illegal and can face risk of prosecution. Basically, the Obama administration gave the "OK" for banks while it is still illegal. Banks are saying they still won't take the risks because it is still illegal. Marijuana companies are still at square one trying to find reasonable financing.
A combination of high valuation, legal problems and finance difficulties represent an extremely high risk to investors. At this point, I'm not so sure the reward is as high. Any U.S. marijuana grower is going to be at the mercy of the DEA. It would be wiser to invest in a company that made the right decision, growing marijuana in a country where it is legal, like Canada.
Editor's Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Then in the comments...
nase8
Guess you will just have to invest in $FITX where it is backed by the government, and they have the necessary funding!
7 May, 05:43 PM
Author’s reply » I do invest in fitx
The only thing I would like to see is a simple instruction booklet inserted behind the main body. I figured it out, but it should be as easy as possible. I love the price point though!
Received my order today. These guys are really on to something! I'm especially impressed with the design and packaging. Performance is fine and I'm sure it will only get better as they perfect the heating chamber. I've bought other portable vapes that look like they're homemade and are more expensive and this works just as well. Not trying to pitch their product, but I am impressed.
I only ordered black.
Live coverage tomorrow via Housingwire.com
http://www.housingwire.com/articles/29817-turn-to-housingwire-for-live-johnson-crapo-coverage
If you have Twitter you can follow the Tweets.
I placed my order on April 15. So it was 10 business days from date of order.
I received confirmation of shipment. Took about 10 days as well.
I'm in at $2.65. I'm thinking they're looking to get bought, but that's a guess.