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Yup, plus, there could be some big news coming re: funding when we get to NASD. Institutions will want to be part of this and being on the OTC is not going to get us the eyes we need.
RLX posted a loss of $20M on $585M of revenue for 2020.
That puts them at a 28x revenue multiple.
We are trading at a 4x revenue multiple with a net profit.
I would have preferred no R/S, but there might be something waiting for us when we get to NASD.
HGEN did an R/S back in September, and they are now trading 3x higher.
I will be a buyer if people want to panic sell.
The reverse stock split is intended to increase the per share stock price of our Common Stock. The Company’s Common Stock is quoted on the OTC Markets Group Inc.’s OTCQB® Venture Market under the symbol “KAVL”. As of March 26, 2021, the last reported closing price of the Common Stock was $1.40 per share. The Company has submitted an application to have its shares listed on the NASDAQ Capital Market and the Board has determined that it may be necessary to effect a reverse split to increase the market price of the Company’s stock in order to meet NASDAQ’s minimum bid price of $4. In addition, we believe that if we are successful in maintaining a higher stock price, the stock will generate greater interest among professional investors and institutions. If we are successful in generating interest among such entities, we anticipate that our Common Stock would have greater liquidity and a stronger investor base.
Solid day today.
Holding well for the next leg up!
I'll take my chances and keep holding, thanks for your opinion though.
Good to know. Take advantage of their recycling program too.
What did you think of the taste/flavor? I don't vape, so curious how it compares to others you have tried.
Considering it holds such a larger market share, I have to assume it's a quality product.
Very new. That's why I'm holding shares from sub penny, cause I know no better!
Independent directors are necessary for Nasdaq. Keep on showing off your lack of knowledge.
You keep staring at L2, I'll keep reading the PRs and filings. Those tell the direction of the company, not short term L2 nonsense.
Lol, sure ANTADOG. You didn't post once during that massive run up.
I am not flipping, and I will wait out the storm, just like I did when we dropped to .30s. Too much upside potential, and when NASD does happen, you can admit how wrong you were.
Don't really care what you say lol, you clearly don't know what you're doing.
Few people seem to realize that the company has continued to move in the right direction and complete milestones that they said they would.
I have a feeling people don't believe the $400M revenue target for 2021 because of the last few quarters, but I'm hoping the next Q sheds some light on the true growth potential of this company.
Oh and just to calm your nerves, take a look at IPO prospectuses. Shares are issued all the time pre-ipo to make sure everyone is ready for the uplist/listing. That's how the game works.
TSLA had some very generous conversion percentages, options, etc which accounted for like 40% of their outstanding pre-ipo..
Additionally, the company has issued a total of 10M shares which half are from the last month, and based on the timing of the restricted to unrestricted share counts, I still think these shares hitting the market are from old insiders and no one affiliated with current management.
What are you even trying to say?
Are you claiming KAVL is not trying to up list to NASD because they are giving people shares? Maybe they feel issuing shares is a better use than putting up their cash.
It is very obvious what's going on here. We have a limited amount of followers of this stock, thus minimal bid support, just like we saw back in the .30s. I think a lot of it has to do with the fact we're still on the OTC. Who keeps an eye on OTC stocks over $1 or $2? Heck, a lot of traders don't even want to trade anything above a dime.
Seems you took a 5 month break from the board, and then suddenly come back trashing the company, placing a "buyer beware" comment into your posts. Why don't you tell us your real reason for posting again.
We've held up very well over the last 2 months when a lot of tickers have been selling off significantly. The stability is usually a positive.
I disagree with your opinion, but to each their own.
Could be used to entice selling, I'm sure if it got tapped a few times it would have been pulled.
L2 is usually nonsense, just a show for the real price action. I wouldn't be concerned with it.
I'm sure some if it is psychological. Everyday this week has been pretty lousy for most people. Again, if we look at the top tickers lately, most are pretty bloody, people trying to chase the next stock only for that one to not hold up either. In that scenario, folks may just sell their profitable positions to get into cash, or average down somewhere else.
A pump and dump is exactly how it sounds. Pumped up and dumped on. The chart doesn't read like a pump and dump, especially with known catalysts in the near future. It's light sell volume with no increase in the float for months.
Some people seem to think CNGT is impervious to market conditions. A lot of names have been getting beat up, and we're actually holding up better than most of them. Look at the most posted on tickers and you'll see a bunch down 50% or more from recent highs.
Today's volume looks like one impatient trader couldn't hold on to their shares.
Lots of red out there and CNGT holding near 07. No complaints!
We saw this back in the .30s and knew it made no sense. Not sure how low they are going to take it, but Ill free up cash to buy more if they continue dropping it.
Seems to me sellers are drying up and bidders have to raise their bids to get any shares. Clear through the 7s and we should retest a dime.
Sorry man, I completed disagree. This short term price action has no bearing on what the company is actually doing.
They have been working on delivering their numbers. Look at all the PRs since January about new distributors.
They have a new product that hit in February.
They have filed everything and are at the last review with the FDA.
Just brought on independent directors and added a market maker for NASD compliance.
Seems to me they are firing on all fronts; FDA, NASD, products, distributors. This drop in price is a blessing if you're a believer. Trust me, my account is down a TON since just last week, but that doesn't mean we're in a worse position now.
Buyers chewed through a lot of shares that would have slowed us down when the big move comes. Next time around it won't take much to launch us.
CNGT is very resilient. Usually is a good sign of things to come. Have a good night all.
Slapped for 50k shares, just to help lead the charge.
Nice pick up, at this current price, our valuation is right around 1x 2021 estimated revenues. Seems low, haha. Tough to see the account so red, but a bunch of us remember watching it go from over $1.00 to $.30s.
I'm holding my shares for higher, sorry haha.
Keep churning out these .07 sellers, gives us a higher base to fly from!
Nice! Chart looks ripe, just need some ask slapping. Release some updates!
We'll see how many impatient shares are left. Once we break .07 and hold, we won't be looking back!
We have held up very well if you think about it. Look at the swings all the other plays are seeing and look how stable we are. Tells me no one of significant holdings is looking to sell and insiders aren't selling.
Complete nonsense, no bid support. Just the life of an OTC stock, but that will change eventually.
Grabbed a few more, great opportunity.
Yes and they are focusing on the products with the largest market share, which in December we were number 1, so we have to be towards the top of that list.
I don't think it will take a few years. They are already on the final stage and there aren't too many they need to go through. The FDA said they were going to focus on the highest market share products first which puts us in a good position.
Additionally, I would assume those changes made in Q4 is just going to help this final review and get us approved.
Yup, this clearly looks like a retail trader with a few too many shares. Maybe from $0.30, maybe from $1.00, but clearly has no idea what they own.
Wonder if they are just trimming their risk, not expecting an FDA approval?
Volume is very light lately. Tells me float is locked, and mostly everyone that wanted out is out, so just a few ask sellers to clean up and any sort of momentum should send us to dime land quick.