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You're right. But there have been no "fraud charges" alleged by any agency with authority to do so. You're giving people the wrong idea if they aren't familiar with the case.
Civil allegations are not "offences" or "charges" and they don't result in jail time. Not that the civil case is likely to succeed in a judgement anyway. That is definitely not a given.
I thought he was talking about the restaurant incident. He hasn't been charged with stealing money or any other crime...
Who's not excited right now? PRs would make for some fun reading this weekend. I wouldn't want to wait to buy on Monday. lol.
It'd be pretty rare for a first offender to do jail time for this. Probation is far more likely. Especially given lefty leaning Seattle and Covid worries. That city lets far worse offenses walk than what JC did. I suspect it'll end up a disorderly conduct charge and a $250 fine.
And why bring in his fam to the discussion? That's just not necessary. Let it go.
Depends what they're issued for and the terms of such. Owners of shell companies can't sell restricted shares until 1 year after ceasing shell status. Acquisitions typically have at least a 4 month lockout period before the seller can sell. Convertible debenture financing could probably start selling right away, but that would mean there's a legit company behind it that someone is willing to finance. And if there is a legit company, probably a holding company with many subsidiaries in this case, then dilution is all relative to their value.
CLSI will likely issue shares for acquisitions in the future. That's pretty much a given, it's in their mission statement. Not much other reason to go public. Shareholder equity is quite valuable. It just comes down to do the acquisitions accrete or dilute shareholder value? Most likely, they add revenue and increase shareholder value.
Last stop sign I saw go to pink current took 4 days after attorney letter filed. Should be very soon now.
That was kinda my point. I was going to say the same thing, but thought brevity was better. lol
Just meant the run is imminent. It's been demonstrated the share structure can do it. If it can run on rumor, imagine what actual filings will do? I expect much, much more than what happened last year.
On 9/30/19 CLSI opened at .03 and closed at .083. 46M volume
We're in for a ride soon. I can feel it.
Not nearly as much chatter as last year when we thought it could be a pot company buying. But this is much bigger and better IMO. The twitter pumpers will come around soon. Pretty sure they're watching.
I tripled my position last week. I'm good with slow and steady as well. Heavy volatility is hard to stomach.
They won't be anytime soon. By the time those shares are unrestricted, GRNF will probably have a far larger OS. They will also not be a shell company, so that's the tradeoff. You should worry about that and not JC ever selling his majority stake on the open market, which will never happen.
Covid. Hair is not important right now. Would rather want to know what he said.
Doubtful. But if it does, ya I'm buying.
If I understand this right, to removed restrictions they have to wait 1 year after shell status is removed w/Form 10. That clock has not started yet.
https://www.procopio.com/uploads/model/Block/6364/pdf/561/Cleary_Rule144.pdf
Honestly, I'm finally excited about owning CLSI. Been here for 8 months and bought a lot more this week. :) I know some of you are true longs and congrats to you when this comes to fruition.
The rules against fraud roll both ways. Pff.
I'll sell when my goals are met. Thank you. Sometimes it takes longer than originally anticipated, but those goals are still valid and in play.
I don't understand your concern.
Do you forget the days (not weeks) when GRNF rose over 50% or 100%?. Profit opportunities happen quite regularly here. This is the OTC. And GRNF is a new company that isn't even fully formed yet. These dips are expected. It's also when you buy. The ones who are long here have good reason to be optimistic. You just have to do the DD and have patience.
Most of us holding are still holding. There's not much to talk about at the moment. But we're still here, in case anyone gets the wrong idea from reading the posts.
My Dallas Cowboys have a thing or three to say about that.
It appears that CANN's CFO had been lying to his CEO about their finances. Do you still think the plaintiff's version of events is accurate? It seems to be evolving rather quickly.
I've said several times you can't rely on a plaintiff's assertion as true fact until both sides have an opportunity to present their case. Right now, it's not looking so good that CANN presented their case accurately or factually. We'll see soon what else they forgot to mention.
What is concerning are the new facts just revealed. CANN CEO admitted some of their funds came from China. How did that happen? We know international transactions are illegal. Were they selling to a local Chinese exporting company on the black market and tried to wash the funds through PBC's accounts as legitimate sales?
The factual basis CANN alleges is not so clear right now, is it?
I think you're barking up the wrong tree here. People should let the court proceedings play out before coming to conclusions. It's looking to be very interesting. lol
That scenario is far more unlikely than if CANN had some deposits that couldn't be accounted for. PBC does transaction-level auditing. If CANN tried to deposit cash that was earned prior to their opening the account (legacy cash), or the source is not known, it would have triggered an AML investigation and a potential freeze. PBC has to report any activity that looks abnormal, and the scrutiny is a big part of why they get to charge such large fees.
https://www.hypur.com/guide-cannabis-banking-how-to-marijuana-banking/
PBC, acting as an after the fact third party in the MRB relationship, is not really on the radar from the feds as far as MRB transactions go - funds from PBC's account to their FDIC bank accts. They pretty much allow these banking transactions to occur, as long as there's a solid paper trail.
I'll tell you why. Because of the probability of return. If it's high, which I believe it is, then we are right now looking at a stock available at mere fractions of it's potential price. That means large profits for a lot of people...as long as you trust your research and have a little patience. Naturally, if you believe in it, you want to share with others.
Never said dual listing protects them. Canadian laws protect them in that they won't raid their Canadian bank accounts. Dual listing just gives them more access to capital markets since they can't go to the NYSE/NASDAQ.
https://www.proactiveinvestors.com/companies/news/206022/why-america-s-cannabis-companies-are-flocking-to-canada-to-woo-public-investors-206022.html
And since there have been so many Canadian shell companies bought recently, the price to acquire a good one has gone up. It explains why DCGD owners got cash AND kept a good portion of their shares. The typical RM deal in the past used to include only one or the other.
https://realmoney.thestreet.com/investing/cannabis/why-canada-rules-as-a-haven-for-listing-cannabis-companies-14826217
Most US cannabis co's are headquartered in Canada and dual list on OTC/CSE. They do so because it's federally legal in Canada and federally illegal in the US. It's to protect their assets in case the feds decide to reverse course and start enforcing the law. Their operations are in the US, as I said.
But my point is not if the company is successful or not, it's how they went public. Reverse Merger, almost all of them. Even the few profitable ones.
Equity Market.
What else there to talk about?
What makes you think I don't already regret it? lol I haven't made any money here. I could have put it in something else and been better off. This ticker is exactly as it seems - a high risk gamble. Until it's not.
I've said before that merger plays are not for everyone. I'm betting it still pays off bigly, but I'm not blind that it may not. That's why I follow the news here every day.
No. That would not be disclosed...
Tell that to ALL the MJ companies that did an R/M on the OTC in the last 2 years. A few of these are well over 1B market cap. Why do they get to do it, but when GRNF does it's a scam? It's commonplace. Your argument is invalid.
And I really don't see any correlation between him resigning and lawyers trying to give him papers. How does that help him avoid it? The timing is unfortunate in the short time-frame of events, but doesn't mean anything substantive.
More likely, he resigned to put all his efforts into the new holding company, GRNF, which he is still CEO of. Why not let your subsidiaries be subsidiaries? Other people typically run those as independent operations. A holding company CEO's job is not to focus on operations, but acquisitions and growth.
He resigned as CEO of GRN Funds. He still owns the company though. They'll just have a new person making day to day decisions. Which many here would say is a good thing...
Not out of the question. ;) And I meant that more in a market cap sense. Be fun to find out at some point though. lol
Do you believe GRN Funds exists in any shape or form currently? That their primary mission is to invest in or buy startups in the cannabis space? Do you believe GRN Funds owns or has stake in many separate, currently operating companies? Do you believe JC is the principal owner of GRN Funds and GRN Holding Corp? Do you believe when he says in official filings and PRs he intends to take these aforementioned private assets public? Do you believe that a R/M on the OTC is the most appropriate and common way to do that for a cannabis touching company in the US?
Or do you believe there is a time limit on completing a billion dollar merger after which none of the above matters any more?
All the GRNF scam scenarios promoted daily for nearly a year aren't exactly playing out as advertised. Something's wrong.
Never say never. ;)
A lot of people have made money with GRNF since last July. It's a smart investment.
I did a quick search but couldn't find it. Maybe someone else can. You'll just have to take my word for it. I seriously had a wow moment when I saw it.