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Maybe the transporter was collecting on a debt? Paid himself in oil when no one was looking?
< I also checked on the transporter for the LA wells and there was a load for 164 barrels picked up in March that was never reported by Paradigm... >
Lizada will not happen. The main reason is Lizada does not have the money. I think the intention was real but LC isn't as big as they would like you to believe.
As you can see with the "delay" in funding the share transfer between Vinny and LC, it likely will not happen IMO. The LC guy is real but doesn't seem to have the money. I think that's why you are seeing so much selling pressure lately. Well, that and a whole bunch of other reasons.
This is the biggest mistake people make when it comes to investing in a company. You have to call the company to find out what's going on. They are busy trying to do their jobs. Old management would have continued to pump out PR for the gullible to believe. How'd that work out?
For the record as far as I know, the stock price went from 200 to 10 before the first of new management was hired. It's gone from 10 to 0.45 since all the shenanigans have been disclosed publically.
<Its not my job to track them down to find out why I should by this stock!!>
I don't know if you have ever spoken to any of the current management. I doubt it. You'd be surprised if you could have just five minutes with them.
As opposed to an hour talking to a serial liar that was running the company before.
You have no idea how bright these men and women really are. You have also underestimated just how stupid Vinny and Bruce were. In no shape or form should Medbox have ever been a public company. IMO is was just a plain rip off of shareholders. I don't think Vinny ever imagined the stock would go to $200 but he never shied away from the absurd market value at it's peak. He believed that is what the company was worth. Only when the stock price started tanking did he reflect on the fact that maybe it had gotten out of control.
There was no business when most of current management was hired, despite what Vinny says. Fraudelent revenue is not a business. In the pot dispensary business you are at the whims of local governments . If you have mayors and council people who are propenents of pot one minute, then get voted out of office and replaced with anti-pot people, then all your hard work becomes irrelevant. Case in point with San Diego. Doesn't mean that they weren't doing anything all this time.
Vinny had to pay that much to draw any type of legitimate personnel. With all the stuff Vinny hid from them as they were hired I would say that new management was and is underpaid. Who wants to walk into a new job and immediately be named as a defendant in lawsuits?
I like the revisionist history. Current management was initially hired to legitimize the business and get the books straightened out so it would hopefully make Vinny appear like he was cooperating with the authorities. Unfortunately the initial members of current management knew nothing of how deep the shenanigans ran when they were hired...because Vinny "forgot" to tell them or just plain hid it from them.
When they started finding out all this crap, Vinny decided to try and use it his majority shareholder status to force out the very guys he hired. And they fought back because now they were included on all these shareholder suits that were the result of Vinny's slimy related party deals.
When you have loose cannon like Vinny it's amazing that anything can get done at the company without him sticking his nose into it and structuring all the deals so that it favors him first and shareholders second.
<They weren't hired to keep Vinny out of jail!! they were hired to build a business and they havent done that>
I would give current management jobs all day long....they proved themselves long before they got to Medbox...problem is that there is no way for them to overcome all the obstacles that majority shareholders Vinny/Bruce have thrown up in front of them...and keeps throwing up in front of them.
It's easy for the peanut galley to point fingers . Current management gets kudos for keeping Vinny out of jail for so long, even though that will likely come to an end.
Bottom line...there is no real business here and as soon as current management throws in the towel, it ain't going to be pretty. At least current management is giving shareholders like you a chance to sell before the stock goes to pennyland. The writing is on the wall.
My prediction is a major management shake up within the next 90 days that will make existing longs wish they never heard of this stock.
Does anyone else find it odd that the CFO is going to this Marcum MicroCap Conference in New York City at the end of the month rather than the CEO?
I believe Vinny's girlfriend is really just a placeholder officer and the real owner is Vinny himself...but because of his legal troubles he couldn't name himself.
Flash back to an article written about a year ago...
http://sirf-online.org/2014/04/17/mdbx-follow-up/
No doubt they will be added but none of them deserve to be added or will found guilty IMO. They came in after the fact and were duped by Vinny. There is a clear timeline. It's a waste of time to go after new management. IMO Bedrick will likely flip to avoid prosecution by DOJ and rat out Vinny since he seems to have the most to lose.
<my guess is that some of current management are going to be added as defendants in the securities fraud charges by the SEC and DOJ against MDBX, Vinny and Bruce Bedrick>
It shows you how screwed up this company really was from the beginning. Fancy revenue streams that really didn't exist. Sales to related parties that wound up being written off. A pot dispensing machine that probably had 20x more press releases than actual unit sales. A serial liar as your leader.
Shareholders bought this crap hook, line, and sinker and now believe it's someone else's fault for their mistake.
I'm positive current management, with the exception of Goh, was sold a bill of goods by Vinny that in no way resembles what Medbox actually was. Roaches are still crawling out from cracks in Medbox and my guess is that there is more to come that current management still is not aware of.
Vinny and Bruce could only fake it for so long. Then they tried to cover their arses. Then they tried to oust the guys they hired because too much stuff was coming out.
The stock never should have been above 1 in the first place but speculators bid it up (due to MJ craze) and Vinny and Bruce IMO added to the frenzy by spinning many statements and promises that turned out to be very misleading.
May be some in current management see something in this company (god know what) and that's why they are staying. I wouldn't be surprised if some are gone by the end of the summer.
Toxic financing.....all that was done thru Vinny and with Vinny's approval. To saddle current management with that accusation is laughable.
Crediting Vin and B with the stock appreciation is a joke because if you give phony numbers to make the stock go up why would you not blame Vin and B when the stock goes down when the phony numbers are discovered.
Sound like you are trapped in this stock.
Ding, ding, ding....most of them have at least one year terms that need to be completed in order for other terms to kick in just in case they resign with good cause.
Remember Vinny was the one who approved the executive compensation.
So why leave early? Consider it combat pay for having put up with Vinny's crap.
<The new officers/directors are getting paid very well to stay on board. They have already been included in the Class Action lawsuits that have been filed and would be included in any SEC/DOJ action, so why not just stay on board and collect the bucks? >
Must be all those vending machines they "sold" while they sit in a warehouse somewhere.
<MDBX partner AVTC files Chapter 11 Bankruptcy>
Seems like you have that backwards.
Current management has gotten to the bottom of all the shenanigans that Vinny and Bruce have hidden over the years. I'm rocks are still being turned over and cockroaches are crawling out.
The toxic debt and falling pps was the result of Vinny's misdeeds. There essentially was no business that Vinny had. A lot of phony promises that speculators ate up hook, line, and sinker.
Remember Vinny hired Marsala for sole purpose of cleaning up the books and getting them eligible for uplisting. And Vinny kept on getting the way.
How would you like to be in some of current managements position? Three weeks on the job and you are already named in lawsuits. That's why they probably demanded such how compensation plans. And they probably deserve given how BS Vinny has putting them thru.
<I think all of current management should be indicted!! They ran this company into the ground. They were basically gifted a billion dollar market cap shell with millions in liquidity and they couldnt make any more business progress than Vinny and Bruce. If anything they took steps backwards with the toxic debt and falling pps. >
Just by the nature of lawsuits, probably all of current management will be defendants even though IMO NONE of current management will be charged when it's all said and done.
Current management, especially Marsala was brought in to clean up the financials. Given how many times Vinny changed his mind and tried to oust current management shows how hard he was trying to hide all his misdeeds.
IMO, Vinny is going to serve a long time in prision and Bedrick, while complicit in this whole matter, is going to escape with a large fine...but he deserves to go to prison too.
JMO.
You need to pay a new guy that much because whether he likes it or not, his name will automatically be added to the lawsuits and he will have to defend himself. Even if the company pays for it, it's another distraction. The shareholder suits IMO will likely get tossed out or be settled for a minimal amount even though obvious fraud has been committed by previous management IMO.
The fact that the COO is being paid $300K per year with up to a $150K annual bonus + stock is rather surprising given how low their sales are right now. I would have thought that most of the compensation would have ben in stock so the guy can prove his worth. Right now he locks in a minimum $300K per year without doing anything.
I wonder if this guy has had any relationship whatsoever with Lizada and he there to help keep a eye on their investment. All in all the guy has an impressive resume. The writing appears to be on the wall for certain other management members as the transition continues.
As in the case when most people die history will be re-written about VV over the next couple of months and years on how he was such a good guy and shrewd businessman.
Face it, over the last few decades VV wiped out how many shareholders in multiple public companies while enriching himself and his family. The legal messes left at these companies linger to this day and probably will for years.
My guess is that all the PDGO files are at VV FL office. Getting them will be extremely difficult and may even cost the warring parties money to access them IMO...
VV passed away on 4/7/15 .
For those who are thinking about buying...be very careful as the sellers seem to know more than the retail holders about what is going on with this stock. Like I said a few weeks ago the stock is trading like news is out there but the company does not want to disclose it (yet).
Curious...how many Medbox machines did the company (and AVTC) say in PR's were placed in the field and how many machines were ACTUALLY in the field? I seem to recall a large discrepancy and I'm sure this board talked about at some point but I don't remember when.
So if you have 2 mil at .0002 , that's only $400 . Why bother selling? I mean what's the point?
Ever wonder what would happen to the stock if new management decided that it wasn't worth the aggravation of constantly having to deal with VM because anything he says to them contains half truths. And they just try to walk away.
It would probably accelerate the inevitable share price slide.
Why are you wasting your money on this turd of a stock?
You can start with the house he has up for sale for around $10 mil.
<but he can't show where the cash is>
It appears that new management has been bending over backwards and providing the SEC with whatever they can get their hands on to try and make nice. The problem appears to be old management told so many lies and covered up so many related party transactions that every rock new management turns over has a dozen roaches scurrying in different directions.
One would have to assume that VM wasn't completely truthful to the new guys he hired and they got embroiled in this mess as well when all they wanted to do was get the financials squared away and make the business structure legit. Hence the termination of VM duties and consulting agreement and VM firing back his own PR's.
The writing is on the wall. Many of us can see what will happen next. The shareholder suits with ambulance chasing attorneys are not the big issue here. In fact, they will likely be consolidated into one suit and be resolved with a minor payout with the majority of the money going to the lawyers. That's if there is any money left.
There doesn't look to be much of a business left and it's nowhere near what it started out as. If VM can avoid jail time it would be a minor miracle IMO.
Wonder if we are seeing a new round of margin calls here?
IMO there was a reason why the stock the stock fell off the cliff yesterday morning at about the time the conference call started as someone dumped 100K shares and the price went from $1.80 to $1.41 .
Hopefully the company will share it with their stockholders in a timely manner and not bury it for a "oh by the way" release.
Conference call today at 9:00 AM to discuss financials....only question will be if they disclose latest setback (imo).
Buckle your seat belts...another major pothole (no pun intended) is on the horizon....this will shock a lot of people but the writing has been on the wall.
Any company that consistently puts out false press releases and then dumps hundreds of millions of shares into the market place is in no position to be acquired for real money.
If somebody is going to take over the Paradigm "assets" and I use that term loosely then it will be a reverse merger and current shareholders will be wiped out. Nobody on this board appears to have much skin in the game...probably $2000 tops....why anybody believed in VV in the first place given his past is beyond my reasoning. I guess everyone thinks there are smarter and quicker than the VV. Guess who going to have the last laugh? He got his cash. It's amazing that guys like VV can keep on finding new belivers, yet he does it time and time again.
Why doesn't someone just pick up the phone and call Vince?
He answers it with his greeting for his OLIVE oil company. And everyone thought he was running a real oil company.
I'm pretty sure you said a few weeks ago that you were already back in not wanting to miss VV's latest P&D. I thought that's why you have been posting so much lately because you're stuck in this POS.
To all those people on this board that said I had an axe to grind by always bashing VV...I tried to tell you he pulled this same crap several times before with other companies...but NOOO...many people say that money can be made because they talked to Vince and he wouldn't lie directly to shareholders....well guess what?
You've become Vinny's next victim. He gets paid his salary while he finds ways to continue to dilute shareholder value.
And if there is no news there will be more excuses.
Who cares that they actually had very little revenue and mucho losses?
And that Vinny hid it all? And that he and other insiders sold stock while claiming to have all this revenue.
That's why you had forensic accountants digging for a year.
The stock price is beginning to reflect the finding. What the SEC and the Grand Jury does to company going forward has yet to be determined.