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Interesting site: http://paiv.com/
That's the tough part. I do have a contact locally that knows an executive for one of the brokerages that denied buys today, but I don't know if I'll be able to get anything, especially during the weekend.
It sounds pretty far fetched to say the least, especially considering it's posted by someone who created their handle this morning. However, it is interesting that the updates of the last week haven't moved the pps at least to the vicinity of .002.
What they're speculating here isn't technically shorting, but a manipulation that has the same effect.
Long-term, this has potential to be an extremely profitable company. If it has growing facilities tied into dispensaries in the same locale, then there is practically no overhead cost whatsoever outside of employees and taxes, especially if they buy into existing operations.
Shoot! I almost forgot to change my sell position to a higher level! Thanks dude
Agreed!
I think there was a huge volume rush, because there were some big chunks of buys right before everything came to a screeching halt.
This will probably continue to trade sideways [.0008-.0012] until the share structure is released.
All you have to do is look at his posting history to figure it out..
People usually don't push this up until the last 15 minutes of trading or the next morning.
Geaux Saints! I've stuck with that team for 25 years, and stuck with this stock for a few months - hopefully both pay off!
Today's PR is about what you would expect at this point. Creating a completely new business plan for a company takes time and planning. This is the first release that more concisely details what the plan is. It makes the previous updates and rumors from California more precise. Licensing is under way (this takes at least a couple of months, if not more), a plan to take an expanded role with MJNA in not just starting dispensaries but also collectives (and also gives an estimate to profit made through collectives in CA), the name of an organization in which to do business with in Colorado as well as talks in both Montana and Oregon.
You can't just go out and in two months start buying up dispensaries and start selling prescriptions. This is a heavily regulated industry, so it takes time and lawyers. It's good to see that this company is doing the right things the right way. If you're in this for a long position, don't expect things to move right away. By this summer, we could be looking at a very good pps.
I personally think they don't want to announce anything like that until they put everything together when they register to move onto the BB. The retirement PR said the shares had already been acquired and that more would be acquired in addition as "conditions permit". They may not want to release any info until they put everything together and know what the final share count will be.
I actually don't think that's a priority news release for them. I may be wrong, but I think the plan is to handle that when all of the financials have been prepared when they try to move to OTCBB. It might be bad for them to prematurely release a number until they have retired all they plan to retire before that as to not jeopardize that filing.
However, eventually these growers will have to be licensed and regulated. This is different because the company is creating a business model with a legal team that gives it the edge over all others just growing and selling the stuff. Any of us can technically distill hard alcohol, but we still have to go through legal channels to get licensed...and that is not easy at all.
I would have to think that HESG offers value on the operations side. Gaffney is an experienced business executive, and is also lining up legal and accounting...which is very important. I just think the name of this company alone is just more marketable when it comes to getting government entities to grant licenses. The public just associates the word cannabis and marijuana with drug culture (hippies, Snoop Dogg, etc) too much for any local or state government to make agreements with companies with either of those words in their name.
Ultimately, I think that the best play to be on the ground floor of a potential medical marijuana boom is to invest in four comanies: HESG, CBIS, MJNA and CMIB.
Potentially, the first three could most likely become one company...personally I think Health Sciences Group is the best bet, because it would be hard for companies that have cannabis and marijuana in their name to get public approval. HESG is laying the legal foundation, MJNA brings dispensaries and CBIS is reseearch and development. CMIB is laying the groundwork for a secure electronic ID program to ensure prescriptions are being covered. I think CBIS is the strongest company now, but MJNA and HESG each bring pieces to the table to make what CBIS develops work in a business model. And if CBIS can develop a way for patients to imbibe marijuana without smoking it and deliver the same level of benefit, game over.
Not to mention that even though it's currently non-profit in CA, it would likely turn for-profit under federal, state and local regulation down the road and HESG would still be ahead of the game. It's kind of like staking down property before a land rush.
Tom should consider setting up a twitter page
LA City Council meeting should be underway to discuss changes to medical marijuana ordinance:
http://losangeles.bizjournals.com/losangeles/stories/2009/11/23/daily11.html
That's the thing about Jungle Trader. He is insistent on getting people to go into MJNA, which I haven't even found a corporate record of. I tried Deleware and Nevada with no luck. At least this company is release SEC filing reports...a step up from MJNA.
.001 would be fine...remember that it opened at 8. The sells at 6 and 7 were predicted panic sells, so the real cellar for this now likely sits at .0008 -- closing at 10 is a nice 20% uptick after three days of selling off.
Still no confirmation of shares retired, and it's dipped under the key support level...Need some confirmation of ANYTHING. That would be nice.
Should be an SEC filing. It may take some time, because if they are preparing a move into OTCBB, they have to file a complete report with all financial information in order to get listed, which is a lot more paperwork. I don't know the details on how it works exactly.
I think the biggest issue when it comes to confirming what's going on in this company is a confirmation that the 1.5 billion shares were retired. That should be the one and only pressing case from anyone who may have doubts. If none comes, then that's a big issue, because that will end the debate over dilution once and for all.
All of this talk about whether or not a merger will or will not happen is way to premature and I wouldn't trust anyone making a statement indicating one or the other will happen.
That's one of my concerns, but I think trying to get people to dump after three days of a PR announcement is a little premature to say the least.
http://www.globenewswire.com/newsroom/news.html?d=178818
Wow, that was hard to find.
The specific language lists it as one of three options:
"We are still in negotiations with Marijuana Inc. (MJNA) to complete a joint venture or merger or rolling up into a reporting OTCBB shell."
Personally, I vote merger.
Which is why we need to see at the very minimum a statement verifying shares have been retired. I've put trust in PR's up to this point, but at some point, something has to be confirmed for real...that would be a good start. As for the merger, you're not going to hear anything concrete about a merger days after discussions have been announced, I don't care how small the companies are.
They're not trying to move HESG onto the BB. They are working with MJNA to purchase an existing OTCBB shell.
This will be the site to track any application statuses for dispensaries in Los Angeles: http://www.lacity.org/index.htm
Search Medical Marijuana November 2009 to see other applications. Sooner or later, the company name or CEO name will match a search when the application is filed and officially presented to the city council.
This thing hasn't exactly plummeted. Believe me, you'll know if it's being pumped and dumped, it would be over by now. Still cautiously optimistic, but that optimism won't hold much longer if there's no verification of share retirement.
This part is new...however, we need to independently confirm with that company they have been hired by HESG.
Not huge news however...I still need to see evidence of the stock retirement.
Especially after their university system was forced to hike tuition by more than 30% - there have been near riots, and students have even taken over buildings. Politicians are going to be forced to wake up and allow this to be brought to aid our sinking economy. Instead of costing the taxpayers billions upon billions of dollars a year imprisoning people for this naturally growing plant, we should be using its revenue to help balance budgets.
It was mypennies...he said he couldn't say what state the paper was in. I don't know where people are getting this LA Times stuff from. Plus, I work in media, and just because they tell you it will be in a later edition is never a guarantee. Personally, I never really put much thought into whether it would happen. However, if Tom is passionately pursuing a real corporation in the Medical Marijuana field because of his personal connection with a dying relative, that's a good story and needs to be pumped hard to newsrooms in CA and CO. That would definitely bring a lot more potential investors who aren't day traders or play these kinds of stocks.
Another company in the Medical Marijuana area that should be on people's watchlist is CMIB. They're working on cornering the electronic payment/ID confirmation part of this industry, which is a very important fundamental in this industry's potential success. I think all four of these companies may ultimately come together, each bringing their own strengths to the table.
Just to note...an update from a pretty solid hedge fund guy whose specialty is penny stocks about a month ago on MJNA - http://www.istockanalyst.com/article/viewiStockNews/articleid/3418642
It's interesting that what he has to say about MJNA is pretty much what critics of this stock have to say about HESG, which means one is no better or worse than the other (except for the fact that HESG has traded between $100,000-$3million worth of shares in the last two weeks, MJNA usually between 75,000-100,000 worth). I also don't find any SEC filings on MJNA...every posting I find says it's not available.
I think everyone should chill out and let these guys make their moves and file what they need to file. You don't create a company or a merger overnight. This is the problem with the Internet, everyone wants major moves that should take weeks or months to happen in a few days.