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100 million shares issued in just last year! And many more to to come.
This time last year they had 568,000,000 outstanding shares NOW 661,000,000 not good.
Trading again guess it was organic cert news
Would they halt for the organic certification. Hoping it’s bigger than that!
Though that is significant!
More math that doesn’t add up for PNTV.
They claim to be doing over a million a month from California in the summer. They have owned the grow since end of May which is 5 Months and even if you throw out May it’s 4 months. So why is there not 5 million or 4 million in revenue, simple because they overestimate revs and quantities and give investors false belief they are making more than they really are. This was and is a fully functioning farm so revs would have been from day 1, so no excuses it took a few months to get going.
We now know revs are between $500,000 and $625,000 a month for summer and winter is less so figure $350,000. On the high end they are around 6 million per year and low end 4.5 million a year. That’s half of what they estimated in PR’s. Makes the Market Cap look a bit high here.
They must really think investors are stupid to believe their blatant lies. Or they are so bad at what they do they don’t realize their own miscalculations.
Financials won’t be out till November as Brett said they will be filed in tandem with Q3. Also any news of an acquisition while the stop sign is up may cause the stock to dip as it would increase debt greatly. Seems like a sell time with access to cheaper shares real soon.
They have no cash, companies go out of business because they keep taking loans to run the business until there are so many they go bankrupt. And just because revenue is coming in now doesn’t mean they won’t need to keep taking out convertible loans.
Brett’s video yesterday was not an update, he spent the whole video making excuses for delayed reporting and then at the end begged investors not to sell shares. Also BS’d about news next week so people forget about this week that the news was promised by Mark or the week before etc. Classic some don’t see every week they say “Next Week” used to be two weeks...
Mark specifically said in a video we are not getting a stop sign as some here stated back in August they most certainly will be getting a Stop Sign. So now shareholders know more about how the OTC impacts his company than Mark does, not good. They may have been fully reporting for twenty some years but when it came time to stay current with a more complex workload they started failing miserably. Recently all they have proved is they are in way over their heads and burning money on bad business decisions.
Watched that video 3 minutes of BS!
They are no further along than they were 3 weeks ago, funny now Brett used the words “filing in tandem”. So don’t expect financials till November now.
Oh and huge news next week he says, which means a month or more away.
Yep that tells you something, Fidelity does not want you to be associated with a company that does not report financials. Restrictions are due to people buying these stop sign stocks then losing large amounts of money when the stock crashes because the company hid their financial status by not reporting. When not reporting massive amounts of shares can be issued without shareholders knowing and huge operating losses can stay hidden.
Video not addressing the massive debt and the large amount of shares being issued diluting the stock.
They are trying to be like the big boys in Canada by acquiring businesses only flaw in their plan is they don’t have the shareholder base or volume to absorb the massive costs. Just like the guy from Tilray said in video with Mark you needs gobs of cash and those that can’t raise it will not be in business in a few years.
They need to take a step back get their financials and SOP’s caught up then you can think about further plays. They never have been good at execution though so the current chaotic unorganized path is nothing new.
Agree, those coddling PNTV management and accepting the untruths are only hurting their own investments.
Brett is a major BS’r and Mark will tell you everything is great even as he’s being walked out in handcuffs. I’m not saying he’s being arrested just an example of how he spins things to make them seem way better than they are.
The company is in major debt and no way the California grow is covering the massive losses in Vegas let alone the million dollar a month payments. After over a year of being licensed still no consistent GLF products in Vegas Dispensaries. Jason has to be replaced as the master grower there, this lost shareholders millions by wasting time and producing what has amounted to $0 revenue so far from their Vegas cultivation license. And you really think the state will want to give them a dispensary license so they monkey around with it for a year before even opening.
The State and Investors want Do’ers not Player’s!!
I sold a bunch of shares today! Still have some but only 10% of what I had at my highest share amount.
The shares I sold today were purchased at an average of .03 so over 100% gain is not bad. If it goes down I may buy more back. The days of thinking this could hit a dollar are far gone as they issued millions and millions of shares just to stay in business. And when they release the late Q get ready to see more massive convertible loans. Also the court ordered selling may be over soon but they have loans coming due all the time so there will be more selling for the foreseeable future.
They are in no hurry to release the 10Q because it has nothing good in it.
Better hope no more acquisitions till this one is complete and reporting.
And definitely don’t want any out of country yet. The complications would be massive. These guys are gonna acquisition themselves out of business if they don’t take the time to do it right.
Funny talking about acquiring more when financials are almost 3 months past due for current mess. They could never handle another acquisition right now let alone one out of the country.
10Q will now be delayed till November I believe no way they release that terrible report now with only a month to go before the next one. They will release them within a week of each other or at same time I bet.
Getting ugly again here.
Those are people getting out of this stock, people are scared to leave their hard earned money in the hands of Mark and Brett. And now they have gone dark, makes you wonder why. Doesn’t take this long for financials and why do you need SOP’s done for financials, just more excuses.
2nd Q revs from Vegas will prob not even be $100,000 for all three months, maybe under $50,000 even. Operating losses will be massive. And have not even broke ground on phase 3 of Vegas. Just a mess right now and they are talking about acquiring more that would be a disaster.
Went dark so they can steal cash from the California grow op. They are filtering cash to themselves and by not reporting no one will know I believe.
600,000 share bid @ .0629 will disappear soon. Many will be leaving due to lack of credibility and poor performance.
Completely agree trouble brewing for sure!
.05’s prob coming today!
STOP SIGN on OTC posted for PNTV. Fidelity and many other brokers will not let folks buy stocks with stop signs from a brokerage link. This will cause PNTV to lose investors. And no institutional investors will be buying this how it is. I told everyone a stop sign would be coming on the OTC and they are also back to a pink sheet stock. Mark stated on a video all that would happen is they would add a letter to end of PNTV and no stop sign would be posted, he prob didn’t realize he would be dropped from the OTCQB either, what an idiot to not know what will happen to his stock. He doesn’t know crap about stocks let alone how to build a grow facility.
Brett did not do a good job explaining dabs aka rosin, batter, sugar, butter. That’s the exact reason people misunderstand marijuana.
Saying it looks like a crack pipe is not smart and why would you say you have people falling over that’s just not how you want to be portraying your product and doubtful it’s true. If they are falling over it probably was their first time ever consuming THC.
Brett is a BS’er. Just remember he also announced partnerships with Advantis and Night Foods that never happened. So don’t take his “they are entering a new market” comment so serious.
Price holding well!
100% correct and they talk about more acquisitions. They need to get CA in order before they bring in more complications. Also growing is good but not at the cost of mass dilution by convertible debt. People talk about $1 a share but with the amount of shares out there right now that would mean PNTV would have a market cap of over 600 million, that seems high.
PNTV has been quiet, no updates for over a week and posts have stopped on Facebook as of the 26th.
Mid October for the 2ndQ as predicted!! Doesn’t sound so crazy anymore seeing next trading day is October 1st!
And in the article Tidal says “The Monterey Cannabis Company is led by a seasoned management team with experience across cultivation, extraction and retail distribution. The company currently operates on a 21-acre property located in Monterey County, California, consisting of ~240,000 sq. ft. of commercial greenhouse space.”
Sounds like what he wanted from the video it’s just not GLF.
Hope they do get some non dilutive backing soon.
Or Paul Rosen was at the Salinas Property and a few others in June and ended up going with the company from the link below. July 5th Tidal Realty PR.
Read when the LOI was signed June 11th, about same time Paul was in Monterey at GFL so seems he chose a bigger grower, 240,000 sqft of greenhouse.
https://www.tidalroyalty.com/news/tidal-royalty-announces-letter-of-intent-to-finance-california-expansion-and-extraction-facility
Possibly could do something with GLF in the future but this article would def suggest his decision in Monterey was made while he was out there in June.
The 2nd Q that’s late when posted will bring the pps down to mid .04’s because I believe Vegas GLF will show less than $150,000 for the whole quarter and you will only one see one month from California GLF.
Now that’s only if the current situation stays the same if they delay it long enough and come out with some good PR’s that could stop the bleeding caused by the bad numbers and the exposure of more convertible loans. The loans are not going away anytime soon and they will probably need more in the near future.
You are correct we do know the estimated revenues moving forward with the current situation. As they announce new revenue streams then that will be adjusted in, such as Vegas starting to produce a consistent revenue stream. Or even better a dispensary!
I will say though worry about PNTV’s ability to build, open, stock and run a dispensary. They best hire some experienced retail folks.
And agree this is trading well below the multiples of the Canadian MJ companies. Most likely due to the risk in US vs. no risk in Canada since it’s fully legal there. However that could change real soon for the U.S.
Beacause they announced them already in a PR. August27th they announced sales from GLF so really there is only September folks don’t know about which everyone can predict from the videos will be roughly $800,000 to $1,000,000 so yes we all do know 3Q revs already.
Very well could and actually worked quite well last time. Though that’s why the stock is at .065 not .03. So did the revs already get figured into the share price for 3Q?
Two posts today besides mine. Guess not as much going on as some claim. Nothing even to talk about here? When you wait so long for the same thing and it never comes even talking about it gets old, proof right here on this board.
This revenue quarter will be announced Nov 15th so get comfortable.
Burden of proof is on you and them, prove they are selling their own grown Vegas flower or that the CBDiesel passed testing.
Go watch the video on Facebook from July 6th. When Mark walks into the open flowering area are those the same plants as in your pic? If so proves my point they are taking 6 months for a cycle which is horrible. If they are not the same plants where has the 150lbs plus of Durban Poison gone. Also two questions.
1. Why have we never seen a testing label from GLF’s first batch of CBDiesel, did it not pass? You know the labels that show details like CBD % and THC % date tested etc.
That’s a big deal to get your first passed test labels, makes one wonder why there was no pic of it sent out or even a pic of the CBDiesel packaged and ready to go like they did plenty of when they were selling other growers flower. Something don’t seem right.
2. Why no sign of the CBDiesel in any stores or any report of selling any of it?
You would think if they made 40K off it they would of said that’s also a proud moment selling your first batch be it small or not.
Without California this would be under .02 it’s embarrassing how bad Vegas is performing they say they work so hard what they need to be doing is working smarter because they can’t see the huge issues going on in Vegas. Could go on and on after just seeing pictures how poorly executed and unorganized things are there.
Watch the videos posted by other growers in Vegas and tell me how one thinks Vegas GLF compares to them. I have watched many and that’s why I called the GLF Vegas grow an embarrassment. It’s a pity to be wasting those licenses that could be earning the money to build the once again extremely over delayed phase 3. You did hear Mark say they haven’t even started it yet. Was supposed to begin over 6 months ago. And remember the huge deal Mark made about the delays back in phase 2 saying those delays would speed up phase 3, wow he has told some tall tales. Truth be told maybe it was due to no cash.
Flat out get rid of the tents set up some fabric dividers like in California and have 4 or 5 bays what they are doing is insane. Would take minimal labor and be the cheapest route to start fixing things also you could start doing multi level if you did it that way. Could you imagine them trying do multi level with their 6ft tall plants and 18ft high lights, lol. Guess then they would figure out growing them that tall is just a waste of two months!
Now posted first big Vegas harvest mid 4thQ. Why is it taking 6 months per harvest there. They desperately need a master grower in Vegas. Or just do what California is doing and buy 2 ft plants to start with. When did they start growing that Durban Poison, they showed videos of it at least two months ago and said it was budding then??
The Vegas grow is extremely unproductive.
Think October for 2Q which is now only 6 trading days away. Not that it matters it’s already late so as long as they have it out in Oct shouldn’t be an issue. November and no 2Q then folks should be worried. Don’t think this 2Q will have the fire power the 3Q will.
As 2018 finishes we will get a 3Q mid November killing all previously posted revs. And then around same time will hear news about the Vegas Dispensaries they applied for. Believe this will be the launch time putting PNTV over .10 and not looking back.
Prob mid October
Impressed they have been able to keep the price up.
Figured it was headed to .04’s before next jump.