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They will have a difficult time doing this. To stay listed you must make $100,000 in net profits or you are no longer able to be listed on the exchange. The initial application has all kinds of requirements that may make this merger talk a waste of time!
You needed working capital now! Not another failed asset purchase. This is what Shareholders are worried about. Just spend, spend,spend.
TRTC not only needs to consolidate it needs to get rid of its entire management team! They do not know how to build a company properly and are taking this company down a rabbit hole that even Alice wouldn't follow them into for amusement!
No one has ever indicated that some day recreational pot will be legalized. Its' just not in the next 12 months. TRTC will have to increase its toxic borrowing to keep afloat. It could have hung on the the proceeds from the recent asset sale but just blew the money against all financial advice which just shows the Adverse Opinion from the auditors is right on the mark. The CFO from GLDFF indicated TRTC had assets they could sell to raise cash but he certainly didn't think they would buy another non cash producing asset before they could right the ship. This kind of financial irresponsibility will be an eye opener for them and an indication of what this management team would do with their assets!
During one conversation that I had with our CFO Craig Eastwood, I had mentioned how little cash on hand their company had and that our cash is all that they really wanted. Craig told me that they do have some assets that could be sold to raise some cash so they did have that. Well they did sell an asset for $6+ million but did they hang on to the cash to support current operations? Absolutely not! They immediately went out and purchased another asset that will not be producing any revenue for some time! I don't think that Mr Eastwood could have imagined that this is what they would do. Imagine how the $12 from GLDFF will be spent. Every time a current GLDFF sells their stock guess who just might be purchasing that stock so that they will have voting rights regarding the merger if it comes to that. They are quite possibly buying up our stock to stack the deck against the remaining shareholders. Right now they are going to have to purchase back a lot of their own stock just to keep the stock from free falling. Think about it!
No one can argue that some day recreational and medical use will be legal. The problem is not for some time yet. Building infrastructures for large grows is not fiscally responsible with shareholder investment money. GLDFF has a nice game plan that has a great mix of good products a well accepted brand by consumers, a Canadian grow facility. Its not how many assets you buy on the investor's dime that makes you a good company, it's the quality of each asset and how it is nurtured to have a chance to grow and blossom into Class Organization. GLDFF has not been dumping assets or redoing failed brand products. Its one step at a time keeping the momentum always moving forward. Once Tahoe is approved 2nd half of 2019 is where GLDFF becomes cash positive. This is not over for GLDFF to remain as it currently is.
Now its the local politicians who are going to change Federal Law? Why not focus on keeping this company solvent!
Any change in the drug laws has to pass both the House and the Senate. The Senate is not bringing this up any time soon. Mitch McConnell has refused to allow it for discussion on the floor. Still 12- 18 months away. Doesn't matter how many States legalize pot it is still a problem for taxes shipping across state line
Dylan Thomas could not have said it any better!
I'm not sure Taps was meant for GLDFF. Only TRTC is on the verge of a stock free fall again. Imagine low on cash in hand. Sell an non producing asset for over $6 million and use those funds immediately for another questionable asset that will not bring in a dime for some time to come. 4th Qt projected losses that could have had some cover with the $6 million. No wonder the Shareholders are selling. If they had kept the money they may have had a chance to hang on and show that they could actually try to be solvent.
How deep are the true believers pockets. The fight to stay at 1.29 is on. Problem for investors is the constant financial misplays even when money is tight they never compromise their spending.
Just hope investors do not get hurt when its all said and done.
Another post from an investor looking out for the best interest of those who have invested in good faith!!!
Extensive article to promote a failed merger.
How does a company that at present has at BEST $3.5 million in cash on hand sell an asset, gets $6+ million from the sale of that non performing asset and immediately buys another asset that will not be producing a profit for months to come? You are loosing $7 million per QT from operations and you use up $6+ million of cash proceeds that could have helped the company make it. Do investors look at this and think no problem I would do the same thing?
Chalice Farms is owned by Golden Leaf. It was previously owned by our current CEO.
The selling is not angst about the merger.It is totally about the under performance and that 3rd Qt. 10Q was way more of a disaster then expected. The expectations for 4th Qt were stated to be on the same track so at least $7 million again in losses from operations.The proceeds from the recent asset sale are already gone so that leaves only $3 million cash on hand. You may still have access to more toxic debt lines but there does come a point where investors decide that the auditors are correct to issue an Adverse Opinion that there are insufficient financial controls exercised by this management team. Large sale of stock 16,000 at end of day at 1.29 Could have waited for perhaps an opening rally but chose not to.
I have had the same experience. GLDFF had just the 3rd QT 10Q that we all expected except for the announcement of the merger. We were all happy with the progress of GLDFF and with The sales license in Canada the new grow license in Oregon and Tahoe about to be done we were all happy with this game plan. Good growth but at the right pace.Some of our shareholders had invested in TRTC and left because of their management. They are now upset some are selling but it is mostly out of fear. TRTC is sliding because they are under performing have terrible financial controls and shareholders were taken by total surprise by their 3rd Qt 10Q. 4th Qt, will not be any different. They have toxic debt which can trigger options to be exercised that will sharply drive down share prices.This is all playing out in front of our eyes and I think will put an end to this merger. I am going to hang in there and feel confident this will never result in a merger. We have the assets to make it to 2nd half of 2019 where we will finally operate at a profit.
Why not call off the merger and let everyone regroup!
My last post for today! I have 3 options to choose from. 1-Sell and take an immediate loss. Based on last price it should be .13-.135 not a great option 2- Wait it out to see if the merger is cancelled. At that point it should rally back. It will take awhile but not because of results but only a result of the merger 3- Get my new shares and if valued at .17 or more depending on where TRTC ends up at should be much better than selling today at .13-.135. Unless I needed my cash for another opportunity I am not inclined to choose the lowest payout. News on Tahoe should be soon. GLDFF did get their growers license for the Oregon facility so that will start to produce. Lots of good things at GLDFF but everything has been overshadowed by this merger. What outcome would I want 100%-----NO MERGER!
Do you really want to be around if it breaks 1.00? Option holders could cash in in at that point. 1.00 may be a ways off but not out of the question. The pool of potential buyers is limited to mostly current longs.
Just like yesterday at the close was a large sale of over 16,000 TRTC shares. Could have waited for the morning to see if there any eager buyers at these lows but didn't. Hope we hear some thoughts from our management team about how both company shares have fallen and how that effects their opinion on the merger.
Why would this go back to 2.10? SP was dropping before 3rd Qt 10Q. Results proved the company in under performing and will not gain in share price except for some speculation. Somehow investors feel this is a can't miss opportunity and neglect the fundamentals of investing.Auditors gave an Adverse Opinion on the lack of finacial management demonstrated by this management team.
If it drops to 1.0 doesn't that trigger all the notes and debentures convertibles to sell?
The whole management team needs to go. That will not happen which is why this merger will crash and burn. Its only been a week now but so much negative has happened it will be sure to hasten the process to a conclusion very soon.
Does anyone even know if any of the dispensaries and grow facilities are being affected by the fires is California? Not sure where they are located. Even if they were untouched about the customer base. Are they still there. Not sure where all employees live. I am sure this will factor into why 4th Qt was a disaster.
Shareholders could care less about fluctuations.They are selling on what they see the company doing or in this case not doing---Performing.
This is what investors are so concerned with. He is not building Brand, Market share, customer base. Its all about making money on failed investments buying licenses to resell. Not going to cut it with investors.
Only two. Most of the trades were very small. No support! You are concerned thou if you are watching there! When the convertible shareholders exercise their shares it will be amazing!
You will know a lot quicker than that.
Most of the buys according to the OTC are for very small amounts 200-400 shares. No deep pockets here.
Once the merger gets cancelled all the air will be gone!
I sent an email a couple of hours ago, they are on Pacific time so they just got out of bed.
There is no conversion rate that would ever be good enough. The gall to try and buy GLDFF and not think all the lousy information would remain hidden is just unbelievable. The better game plan would have been for them to hide in the backround and hope recreational pot became legal real soon. That was what they were banking on and it just isn't going to happen that fast. The bleeding is what will wipe out the shareholders.
When this merger is cancelled there will be a Merger Relief Rally!
Your plan goes bust because there isn't enough money in the company to last that long. The bad investments and bad performance track record isn't likely to generate any real operating capital.
This should no longer be a sell! Time to buy!. Things are turning around!
Meant to say .1203 shares of GLDFF for every share of TRTC
Sp now in the 1.3s The new conversion rate will soon be .12.3 shares of stock for every share of TRTC.
Or any of the management team They all have a history of wiping out shareholder equity. They all file bankruptcies when time to run is at hand.