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Lol. Crickets... What ya think? 10m to 15m+ share day?
Yep. Just checked again. It's there. Thanks for posting it.
Not completely out of the woods as we still have 2 others to go. Eagle and GW. Need to get them to the negotiating table as well.
Yep. Looks like Emet has surrendered all the notes for 3,001,754 common shares.
That's it folks. EMET is done for $70K worth of stock.
It's not on OTCMarkets yet but the 8K is in my Fidelity news.
Now it begs the question. Why would EMET do this for 3m shares?
Hmmmmmm. 3m shares at 5.00 is $15m dollars. Seems EMET now wants to ride the train instead of derailing it.
This is HUGE folks. So much for the 190,000,000 shares predicted by the bunnies sticky above which should now be changed.
Not done reading but it looks like EMET may be gone for good. Kaboom.
On May 26, 2020, The Greater Cannabis Company, Inc. (the “Company”) entered into a surrender agreement with Emet Capital Partners, LLC (“Emet”) pursuant to which Emet agreed to surrender its interests in the following convertible notes free and clear of any liens, mortgages, adverse claims, charges, security interests, encumbrances, and any interest of any third party and waive any rights or claims it may have in respect of such notes in exchange for a payment of $70,000:
1. Convertible Redeemable Note issued on 10/18/19 in the amount of $3,128.79
2. Convertible Redeemable Note issued on 10/18/19 in the amount of $15,439.93
3. Convertible Redeemable Note issued on 10/18/19 in the amount of $7,018.15
4. Convertible Note issued on 10/18/19 in the amount of $451,504.95
5. Convertible Note issued on 10/18/19 in the amount of $112,876.28
6. Convertible Note issued on 10/18/19 in the amount of $99,331.13
7. Convertible Note issued on 10/18/19 in the amount of $11,287.65
No ones talking about the .004's, .005's etc. We're talking the buys from the last two days posted. Look at the ask now. 1m at .014. We're talking buying the dilution or retail sells at bid only and stacking the ask with it which means anyone wanting it up must go through him. Only comes around... after the buying is done to show he's such a supporter of the bid while stacking the ask. Any "experienced trader" as you put it can clearly see it.
If he had any balls he'd hit the ask.
Why would any experienced trader tell anyone when they bought? I can see not saying when they sold. Saying they are buying, all at the bid mind you, never the ask, as the price drops and the ask gets stacked is another story all together. Honest investors, unlike traders, do not post buys or sells.
You can thank him later when we have to push through all his ask stacked shares... again.
Words to live by. "Never trust anyone that posts their buys, but never their sells". Fact.
Time to cover! Hows them trips working out for ya!
C'mon man. LOL. 2 maybe 3 medicinal marijuana harvests should cover that. The first as early as this September. Big Picture. Not small. Long term thinking not short.
Who says Symtomax doesn't have cash? Takes an awful lot of cash to build out the largest grow and processing facility in Portugal and possibly the whole EU. Completely false statement. Secondly what do you think those preferred A shares will be used for? I'd say 6 million of them should cover it. So when Symtomax is harvesting and raking in cash they wouldn't even need to sell them. The picture here is bigger than most think. Don't be surprised down the line if GCAN doesn't turn into SYMT.
Slow and steady. Before the 60 minute was showing RSI of 85 at .13. Now 76 at .143. Steady and slow over 70. The BB is now top of PPS. She can move up a tad if she wants and still ride the BB up before she needs to cool again.
Agreed. And I have posted the same thing. Symtomax will want access to the US market via a public company. Once they do that investment firms will see what they have built and invest the big bucks. They will have already built a grow operation bigger than TLRY in Portugal. Tilray = 11.22 right now. Can anyone say Cha-ching!
Blinders. Lol.
Symtomax
Symtomax in Portugal are developing the largest cultivation site in Europe. We are dedicated to the production, research, cultivation, processing and distribution of medicinal cannabis oil to pharmaceutical companies worldwide.
OralTabs
Our Oral TABS were developed for the pharmacy and health sectors, meeting the high standards required by both for the retail sale of CBD and customers who can receive a controlled and rapid release of the CBD (cannabidiol) oil using the Oral TAB. The proprietary technology allows the release of cannabinoids from multiple layers, allowing for the rapid absorption of the CBD into the blood stream and since it does not have to be digested like oils or edibles, the products work quickly and effectively, on the area where it is needed.
GCAN
GCAN Receives Purchase Order for 125,000 Units of its Oral Cannabis Patch from Symtomax
Only the beginning. Once Symtomax starts harvesting it'll be a cash kaboom for them. Can't wait for that 1,000,000+ unit order.
Yep. It's called consolidation above .01. Can clearly see the bids attempting to keep it above .01. RSI on the 60 minute was 83. Needs to breath and come down just a bit before the next push up. PPS was also outside the BB bands. Next hour needs to open around .011 to .0125 and it can then push up further along the BB bands. Right now it seems pretty controlled to not spike it up too fast. We'll see when the clock hits 10:30 where this is going. JMH Observation.
Whole heartily agree 100%. Let the start of the ride begin.
Your not answering the question so I'll give you an answer. No one cares what the liability is, even though your numbers clearly show it in now less than it was on 10/19/2019.
LMAO. Just answer the question.
Is 1,021,670 (3/31/2020) "a lot" more than 1,194,000 (10/19/2019)?
The above numbers are YOUR numbers.
So. I ask again. How do you calculate the total liability on the original loan amount of 675K.
Please don't come back with an answer that goes back 15 days for a share price. and then do some sort of calculation.
The 15 day average share price is only used in calculating a conversion price for a conversion and since on that day there were no conversions to date please calculate a total liability on 10/19/2019.
Lol. Course it does. So lets use your quick trading history of 1,194,000.
I actually have it at 675K * .75 + 675K or 1,181,250?. What is that? 13K less than your estimate. Lol.
So. Using your estimate the liability was 1,194,000 on 10/19/2019. You now claim the liability is "a lot" more and give a number. That number is 1,021,670 on 3/31/2020.
Hmmmm. Is 1,021,670 "a lot" more than 1,194,000? We'll let the readers decide.
Readers. Is 1,021,670 "a lot" more than 1,194,000?
So. On 3/31/20 GCANs liability was exactly 1,021,670?
Please, do tell us what their liability was on 10/19/19.
You have a list of those readers? Did you take a poll? Or should we add the below to the growing list of hearsay? Lol.
Which is lower than the total (max) amount the derivative liability can be. 675k * .75 + 675K * 2%. That is the equation and it cannot be changed.
Yawn!!! Your not taking into account that the principal is no longer 675K.
And for the last time EMETS total liabilty can only be 675K * .75 + 675K or 1,181,250. 1,181,250 - 1,021,670 = 159,580? reduction in total liabilities and this is derivative liability NOT principal liability.
You claimed:
LMAO. If you say so. Financials say different and I've already gone over it twice. Let the readers decide if actual math is better than 'fuzzy' math.
Wow. LMAO. Considering the total amount (max) of the derivative liability on 10/19/2019 was 675,000 * .75 + 675,000 = 1,181,250 you have literally just disproved your own allegation that the total liability has increased.
1,181,250 - 1,021,670 = 159,580. Again. Let me restate that. You have just proved that EMETs total derivative liability has dropped by 159,580.
It literally, doesn't get EASIER than that, to disprove false statements.
Lol. Over a billion sold? Huh? Really. O/S is 79m. The 'over a billion shares' you speak of haven't even been issued yet so how can they be sold. Lol.
So lets take remainder of EMETs notes. We know EMET through 3/31/2020 has already paid down around 152K of 675K leaving 523,000. How do we know this? It's right there in the 10Q.
We also know from the 10Q that EMETS lowest conversion rate, with the discount, was $.0026 to $.0028. Also in the 10Q.
So lets even it out and give EMET an even lower conversion rate of .002 for the remainder of the note including the discount.
523,000 / .002 = 261,500,000. Yes I'm aware there are other notes. Yes I'm aware of the 9 million A shares at 50 for 1.
So lets assume EMETs next bottom of conversion rate = .004. That would reduce the shares to 130,500,000.
So lets assume EMETS conversion rate goes to .008. That reduces the shares to 65,000,000 for the remainder of the entire principal on the note that's left. And it may take EMET a year to convert them.
A far cry from the over a billion you claim because you are assuming that EMET, and the rest of the note holders, will all be converting near .002 and that won't be the case. You say it will, I say it won't. We'll see who's right. You are also assuming no news or other material events that could drive the price up to say even. .05. What would EMETS and the rest of the note holders converted share count be then. Waaaaaaay lower. 10's of millions instead of possibly 100's of millions. Lol.
EVEN if it takes 250,000,000 over 2 more years to convert all the debt, which I highly doubt, I'm good with that. We'd still be sitting with a 300m O/S and still a decent share structure ratio of 500m A/S to 300m O/S. Many a stock has run big time with an O/S far greater than 300m.
Great dumpathon? 60m since inception over a year ago? 79m O/S is a great dumpathon. LMAO.
My guess is that this 60 minute chart is starting to make some very nervous, which is why the 'FAKE NEWS' reporting is now accelerating. It shows A/D of -5.6m rising to +3.2m, in a month. That's a swing of +9m to the upside. As well as a slowly climbing shareprice even with the dilution.
Yep. Billions of shares when there's less that 79 million they could possibly buy. Got a long way to go. Most will have banked big coin by then if it ever gets anywhere near that billions of shares. Investors do not shy away from a 79m O/S. They load.
Yep. False claims are definitely accelerating as peeps start hitting that ask, like today, instead of waiting on the bid. Imagine someone saying the the financial report shows a huge increase on a note bearing 2% interest. lol.
And yet the O/S is still a measly 79m. Pretty damn small and could easily run big time with a number like that. Float is even smaller.
Wow. OK. Let's try again. GCAN EMET liability.
Folks. GCANs liability, in reference to EMET, did not 'magically' increase from 12/31/2019 to 3/31/2020 from $675K to $1,181,250, respectively, as has been duly 'noted'. GCAN's derivative liability to EMET on Oct 19, 2019 was and has always been $1,182,250. This has been known, at least by me, since that date. 675,000 + .75 (discount) = 506,250 + 675,000 = 1,182,250 + 2%.
Simple enough right? OK, so GCAN's derivative liability has not increased. It will never increase only decrease. Did the terms suck? Yes they did. Did we know the terms? Yes we did.
So lets look at a single conversion.
On November 11, 2019, the Company issued 1,748,363 shares of its common stock pursuant to a conversion of $53,705 principal
and $2,680 accrued interest and fees of its convertible note dated October 18, 2019 by Emet.
That principal is NOT subtracted from the total EMET derivative liability. It is subtracted from the 675,000 original principal as it is a principle payment in shares. But the shares given for the payment do include the .75 discount because that is what the terms state.
So if you want to find out how much of the derivative balance has been paid you need to take 53,705 * .75 + 53,705 = 93,983.75 which effectively adds the discount back in which is the same thing as me adding these numbers together like I did on the previous post.
Convertible Warrant Note dated October 18, 2019 payable to Emet Capital Partners, LLC (“EMET”), interest at 2%,
due October 18, 2020-less unamortized debt discount of $165,303 and $294,234, respectively (ii) 135,697 74,566
165,303 (the discount) + 135,697
You can look at the numbers 2 ways. With and without the derivative but when you have a conversion the principal and the derivative liability are decreased proportionally. NEVER increased. So when you have 0 principal balance you have 0 derivative liability.
Derivative liability cannot increase if the principal has being reduced.
Folks. A note at 2% interest will never almost double the principal of the note as has been portrayed.
The principal on the 675,000 note was reduce by 152,836 as of 3/31/2020. That's a fact and it doesn't include principal paid to EMET on conversions from 4/1/2020 till today.
Do the terms of the note suck. Yes they do. Did we know about the terms. Yes we did. Did the note magically increase. NO.
Here are EMETS notes in a nutshell:
Convertible Warrant Note dated October 18, 2019 payable to Emet Capital Partners, LLC (“EMET”), interest at 2%,
due October 18, 2020-less unamortized debt discount of $165,303 and $294,234, respectively (ii) 135,697 74,566
Convertible Warrant Note dated October 18, 2019 payable to Emet Capital Partners, LLC (“EMET”), interest at 2%,
due October 18, 2020-less unamortized debt discount of $61,989 and $90,054, respectively (ii) 50,887 22,823
Convertible Warrant Note dated October 18, 2019 payable to Emet Capital Partners, LLC (“EMET”), interest at 2%,
due October 18, 2020-less unamortized debt discount of $54,551 and $79,248, respectively (ii) 44,780 20,084
Convertible Warrant Note dated October 18, 2019 payable to Emet Capital Partners, LLC (“EMET”), interest at 2%,
due October 18, 2020-less unamortized debt discount of $6,199 and $9,005 respectively (ii) 5,089 2,281
Convertible Promissory Note dated October 18, 2019 payable to Emet Capital Partners, LLC (“EMET”), interest at 6%,
due February 12, 2020-less unamortized debt discount of $0 and $0, respectively (ii) 25,587 25,587
The bold numbers add up to 522,164. 675,000 - 522,164 = 152,836. 152,836 = Principal paid.
On November 11, 2019, the Company issued 1,748,363 shares of its common stock pursuant to a conversion of $53,705 principal
and $2,680 accrued interest and fees of its convertible note dated October 18, 2019 by Emet.
On December 20, 2019, the Company issued 1,468,204 shares of its common stock pursuant to a conversion of $29,000 principal
and $4,015 accrued interest and fees of its convertible note dated October 18, 2019 by Emet.
On December 24, 2019, the Company issued 637,273 shares of its common stock pursuant to a conversion of $10,000 principal
and $515 accrued interest and fees of its convertible note dated October 18, 2019 by Emet.
Principal Paid = 53,705 + 29,000 + 10,000 = $92,705.
152,836 - 92,705 = 60,131 as of 12/31/2019
The balance of principal paid 60,131 is included below along with the principal of other converted notes.
During the three months ended March 31, 2020, the Company issued a total of 21,484,688 shares of common stock pursuant to conversions of an aggregate of $165,350 in principal and $ 11,793 in interest under our outstanding convertible notes. The $ 228,949 excess of the $406,093 fair value of the 21,484,688 shares of common stock at the respective dates of issuance over the $177,143 liability reduction was charged to Loss on Conversions of Notes Payable.
Folks. If GCAN were to pay off the EMET notes today guess what the EMET derivative liability would be? That would be 0.00. because the derivative liability is based off the original debt and is future based, fair value of the debt which is why although it is in the balance sheet it is nothing more than a paper value which will change and it does not change the underlying value of the original debt unless GCAN defaults on the debt.
What? $1.7m - $2m? Show us another startup that doesn't have debt like that or more. Most important? 79m O/S. Awfully low number. You know it, I know it and so does everyone else.
And we have another ex-proponent of GCAN looking to flip shares. Lol. Is that you on the bid for 495K. Lol.
LMFAO................................. You do NOT add both sections together. They are the same debt. F-14 shows the debt less amortization. F-17 shows it fully amortized through 3/32/2020. SMH.
Wonka. For whatever reason the product to Symtomax was delayed. Be it Corona or whatever. If the product was delivered after March 31, 2020 it won't show up as revenue until Q2. I doubt Symtomax would pay for product if not received and usually there are terms as well. Net 30 etc. Also I think you meant the part where GCAN showed no sales (revenue) not Symtomax. GCAN has put out a product, through Symtomax, from concept to reality in 17 months. Pretty quick timeline if you ask me. The real issue is silence from the company. Everyone can agree with that I'm sure.
Yep. Pretty funny when false claims made about the company in relation to their Medicinal Marijuana and Consumer CBD pipelines are proven to be false yet again based on information from the company itself. BVI? Nope. Israel and the EU as stated in the PR.
Wow. Hmmmm. Lets now analyze the full content:
"- Our Company has communicated in the past that we are embarking on additional clinical studies to further substantiate our delivery technology. These are important elements of our overall strategic imperative to build our biopharmaceutical pipeline in addition to our consumer products. Further, much of the inbound business development opportunities have come by way of pharmaceutical companies and cultivators in the medicinal market looking for safe and proven dosage forms to deliver cannabinoids into the body with higher bioavailability. In order to advance this arm of our business we feel it is necessary to have further clinical data to support our efficacy claims, specifically as it relates to cannabinoids. Initial efforts to conduct these clinical studies in North America have proven to be inhibited by regulatory hurdles in exporting our products to Canada, and in the US have proven to be prohibitive in obtaining IRB approvals. Instead of spinning our wheels trying to make it work with North American clinical research organizations (CROs) we have decided to take our clinical research needs overseas. We are currently in Israel mapping out preclinical and clinical studies with an academic institution affiliated partner. We will be using our existing formulations, and others, to test our delivery platform and gather pharmacokinetic (PK) data. Israel’s cannabis friendly regulatory environment offers the Company a way to accelerate our studies, and to do so in a cost-efficient way. Advancing this side of our business will play directly into our licensing strategy, as well as allowing us to build more web protection around our intellectual property."
The whole above statement is in regards to "Medicinal Marijuana" The kind that contains THC. Not CBD as a dietary supplement as in their "consumer products". Notice it says:
"to build our biopharmaceutical pipeline in addition to our consumer products."
I think what you really mean is Symtomax will not sell to the US... YET! So now all of a sudden Symtomax is selling, just not to the US, and it's not a scam after all. Lol dude.
Lol. GCAN is partnered with, the soon to be largest growing facility in Europe, alongside the likes of Tilray and Cannagrow. What do you think is going to happen when the real cash starts flowing into Symtomax from Medical Grade Marijuana sales? You think Symtomax will want to stay private? Lol. Ummmm... Not. I'm not the one not paying attention. I am watching. You should do the same.