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Unless you were an employee, you couldn't know what their priorities are right now.
Did they go to this trade show last year? There could be many reasons they are not attending now, like inking a national distribution deal or busy counting accounts receivable for a big earnings report or finalizing papers for uplisting, to name a few.
You are right, with news this will pop- no more big sells by the crooks to bring it down.
I have been on the wall about a PR about Vaccaro. It would draw further attention to the situation, which may be worse for the share price. On the other hand, the investigating agents may be preventing a PR until further arrests are made. Until Vaccaro either gets convicted or pleads guilty, I don't think it's a material event for POTN. One strategy would be to just release positive info about revenues etc going forward. It is comforting to know that Vaccaro and gang dodn't tell CEOs what he was doing and the yield sign is not back up.
The promotion sign on the OTC was removed around the time of Vaccaro's arrest, which tells me that the OTC is informed about the situation.
Try reading the arrest warrant. It says Vaccaro and gang requested that company CEOs NOT be told about their scheme.
What I remember was that the company stated in
a PR by Goulding in 2018 that the debt (to Vaccaro) was half paid off by selling 25 million shares in the first Q. And I thought the remaining amount was about 1.5 million. I remembering correctly?
Well I am certainly glad that any large sells can no longer be attributed to toxic debt Vaccaro any more. I still find it hard to believe that a large investor/share holder of a company with high probability for rapid increases in valuation is stupid enough to go to jail for a scheme that massively devalues his own shares!
So unrestricted is the current float- wonder why it's not called float and updated to the current date.
The float has been 346M for some time now. If an owner of restricted shares sells them on the open market like Vaccaro has, looks like they become part of the unrestricted pool which has increased significantly on the OTC page- so when/how does the float get updated? Would this be a material event if Vaccaro's shares were frozen or cancelled? I have never seen anything like this situation before.
Nowhere to go but up from here. It seems like analyst sentiment is turning positive toward the cannabis sector in general today.
I agree, with a big Q2 number like Hagen's PRs keep suggesting, nothing will hold this down. No more huge sells every time the share price goes up with good news about the progress the CEO is making- in spite of Vaccaro. It amazes me how stupid it was for a large shareholder like Vaccaro to sabotage his own investment. He must have an urgent need for fast money, maybe he owes Russian oligarchs.
An update on earnings would be nice to see today.
Yield and promotion signs have been gone for a while now, IMO this does not affect uplist.
Read the arrest warrant carefully- Vaccaro told the undercover agent NOT to tell the CEOs what was going on.
It states that Vaccaro and the others kept the scheme from the company CEOs
I am all the more impressed that CEO Hagen managed to get the yield and promotion signs removed for the OTC in spite of Vaccaro's shenanigans.
It also seems that the arrest of Vaccaro may have helped get the warnings removed by the OTC, the timing was close.
Bottom line is the sales of large blocks seemed to end last week, so this can only be a positive for POTN share price.
There may be many other charges yet to come for Vaccaro. He looks like the type to be involved in multiple schemes for many years. My guess is that he won't be free for a long time.
CEO Hagen is an attorney, I'm sure he will prosecute when appropriate.
CEOs are not responsible for the behavior of every shareholder. If Hagen had knowledge of Vaccaro's criminal behavior, I'm sure he informed the FBI.
Maybe Hagen will sue Vaccaro for damages and get the remaining .003 conversion debt removed.
The court document below explicitly states that the accused told the undercover officers that they did not want the company CEOs to know what they were doing. This could be a good thing for the share price now that the incessant selling pressure is gone. If there was still a problem, there would be a yield sign on the OTC page IMO.
https://www.courtlistener.com/docket/15948268/1/1/united-states-v-vaccaro/
Disagree. Nobody currently at POTN was mentioned, and this means that the selling pressure that disappeared a week ago will not come back. I suspect that the CEO will address all of this in a PR.
Vaccaro is not listed as an officer on the OTC page or on the POTN web site. What is his title?
There were 4 companies listed in the charge, and no officers from any of the companies. Vaccaro is the criminal, not the company executives I would assume.
This was dated a week ago when the warning signs were removed from the POTN OTC page. Looks like we are rid of Vaccaro and his selling pressure. I know several people that know or have spoken to Kevin Hagen and speak highly of him.
Your friend must realize that POTN has the greatest potential for multiplying his investment many fold- of all of the CBD companies that have yearly revs over 20 million.
This stock is unpredictable until big news hits, big daytraders flood in- last name I heard was Tim Sykes, and shares increase on high volume. Until then, I recommend having a time window to avoid losses.
If 30 days is average, uplist is likely in the first week of August. We could get Q2 around then if they are on time for a change.
A SMALL fraction of the preferred shares convert at .003 and belong to the initial investor who says they are locked up and only small amounts can be sold each Q. We don't know what the large majority of them are being used for. More clarity on share structure would be nice. IMO we will get some PRs this year explaining partnerships or other. It is a great comfort to me knowing that Illiad Research was willing to loan POTN millions in return for shares that convert at .45.
I just realized that Hagen could either mean handily beat the 78% YOY increase, or handily beat the 25 million- lets hope it's the former! If so and 2019 was 78% above 25 million, the earnings (revs-expenses) could be hitting over a million. It's time for the 2018 salesforce to show some results.
"These efforts are the beginning of what is shaping up to be an incredible year for our company. We had an incredible year in 2018 when we earned over $25 million in revenue, a 78% year-over-year increase, and we expect to handily beat those figures in 2019."
https://www.otcmarkets.com/stock/POTN/news/PotNetwork-Holdings-CEO-Kevin-Hagen-Provides-Letter-to-Shareholders-Announcing-Form-10-Filing?id=229799
In addition, this could and should mean that earnings will be in the millions this year.
"These efforts are the beginning of what is shaping up to be an incredible year for our company. We had an incredible year in 2018 when we earned over $25 million in revenue, a 78% year-over-year increase, and we expect to handily beat those figures in 2019."
https://www.otcmarkets.com/stock/POTN/news/PotNetwork-Holdings-CEO-Kevin-Hagen-Provides-Letter-to-Shareholders-Announcing-Form-10-Filing?id=229799
Let's do the math for Hagens 2019 projected rev numbers of a 78% increase this year. 2019 revs would be $44 million. Q1 was 6, so this means that POTN will be reporting 12 to 13 million in the remaining Qs. Additionally, the market cap is EQUAL TO 2019 revenues. Based on the CEOs statement, POTN is extremely undervalued.
Depends on Q2 revs IMO. If they can show growing revenues after the flat Q1 numbers- which was lower for the whole sector for some reason- the sky is the limit and we will see a multiple in the market cap above the current ONE.
I expect revs to be at least $8 million for Q2, consistent with the analyst report on POTN web site forecasting 40% growth this year. The sales force that the CEO put in place last year should be getting traction by now. It would also be helpful for sector sentiment if the big Canadian MJ companies report higher sales. They should since Canada has now gotten through their backlog of licenses for dispensaries. If everything falls into place, POTN will be .5 to $1 by end of year with uplist any day now and bigger revs and earnings.
-and market cap of less than 2X last year's revenues.
Yield removed on OTC POTN page, so uplist to OTCQB will occur very soon. IMO with their revenue base of 25 million and growing, well known established brand and upcoming earnings report, this stock has the highest potential in this sector to multiply your investment 4 to 10 fold in 2 to 6 months.