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There will be future lawsuits, filed by the Rosen Law Firm on behalf of swindled shareholders.
Hmmm...General Hemp is the majority shareholder not HDDC and that is HDDC's issue, not MJNA'S. I checked California SOS website and they said is is due to a late tax filling and will be reinstated once paid.
Also it is a Delaware corp, not a California Corp, it is just doing business in California.
It never was a solid company.
Because it has been revealed that Blum Oakland is basically a consignment shop for other growers...
And someone just pulled the rug out
Awesome company. Just buy a bunch in your IRA and forget about it.
I originally picked this up when it was under $30 and I get a nice monthly dividend which I automatically reinvest.
There is also a link in that article that explains the tax situation.
The IRS only lets MJ related businesses deduct cost of goods sold but not other business related expenses.
http://www.cnbc.com/2016/01/29/irs-says-pot-is-illegalbut-you-still-have-to-pay-taxes.html
Also the author of that article is such a hypocrite. If some other companies released financials like that, the article would be slamming that company for ripping off investors and blasting the merger deal etc but with his beloved TRTC all he comments on are about the industries taxes. What a joke. And people pay money for his advice.
In the 10K and 10Q.....
They are in every 10Q and 10K.
The 3 year deal is on California. In Nevada, it is about a 50/50 ownership of the MediFarm subs with their local partners. It is all broken down in the financials.
IVXX is a failure and a money loser.
To bad at one point they were hyping it was in over 200.
News was after hours....
They never sold IVXX flower in spite of what it states are the products. They Only sold shatter and prefilled oil cartridge.
They never sold IVXX branded flower.
That is incorrect about not for profit companies. They are allowed to make a profit, they just can't distribute that profit to shareholders. It has to either be reinvested back into the organization or donated to another not for profit.
True, therr is also EG, which also is a huge money loser.
Hello, they are soending all the money on cost of goods sold. They are selling it for very little mark up and on consignment for other growers.
Did you not hear that they stopped selling it last qtr due to quality issues. And IVXX never made any money.
It has been exposed long ago.
You did notice that 90% of the expenses were cost of goods sold, which are non operating costs which can be written off for taxes. 13 mill in revenue 11 million in cost of goods sold. And then they had over 2 million in SG&A expenses. It was not taxes that that are killing them.
Glad people are finally waking up to what I have been stating all along about the company.
It's true. It is directly from audited financials filed with the SEC.
Did you see the post of mine that they mostly sell the MJ on consignment for other growers? I wonder who are these other growers?
Who are these BOSS guys that actually owned 50% of Blum prior to the Merger?
I wonder if he actually provided these service as we know he has a history, according to the affidavit in the Dan Rush indictment, for taking fake 1099's for services he never performed.
Apparently there isn't much mark up of the MJ Blum sells. $13 million in MJ sales last year cost them $10.7 million dollars to buy/grow. And of course, Selling and General Admin expenses (fees they pay themselves to manage the dispensary as well as rent and fees they pay to entities they own) put them into the negative. What a shame. Shareholders got rooked. What did they pay $20 million dollars for?
http://www.sec.gov/Archives/edgar/data/1451512/000147793216010738/trtc_ex991.htm
No it won't as even with those contracts, EG is a yuge money loser.
Yup. It is a flip not a long term investment.
REvenue is a lot lower for Blum Oakland than previously estimated. And it even lost money. What a joke.
http://www.sec.gov/Archives/edgar/data/1451512/000147793216010738/trtc_ex991.htm
Shareholders got rochambeaued.
Was no news good news for IVXX when they discontinued production due to quality issues?
So it is unknown if the state granted an extension on their provisional licenses or not. One would think TRTC would PR to inform investors of the status of the provisional licenses since it is past the deadline to demonstrate significant progress.
Ok, but that doesn't answer the question as to if the State granted the extensions or not as the deadline to demonstrate significant progress has already passed.
Does anyone know if They were granted renewal of some or all of the 7 provisional licenses that weren't operational by May 3rd?
Wasn't talking about the dispensaries, we were referencing the cultivation and production facilities as they are separate licenses and locations. The land for the C&P facilities are still vacant lots.
Well, he also left out that the partners are the landloards....