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I only point out that he is capable of looking at the merger and is not a shady character. He would never move on to the new company. I just think his analysis will determine this to be a bad deal and GLDFF will pass.
That is the best idea I have heard all week! From your lips to God's ears!
Lowering the price will trigger the warrants and options to be exercised and will cause shareholder equity wipeout.
All of these activities in themselves sound great. It is too much to soon. The forecast of when pot goes recreational is off; it is still 12-18 months away. No one says TRTC hasn't spent a lot of time and energy positioning themselves in the market for when pot is legalize by the Fed. You simply can't afford the overhead that you have right now and it is going to really affect you very soon. If it is too much of a risk GLDFF will walk. Lets see what they conclude from their due diligence. They do see some benefits but it still is to be determine by the old Costs vs benefits equation.
I understand this issue to be one of poor judgment. Derek Peterson did report illegal activity and did avoid prosecution by paying back the monies he received. Its not an ideal situation to have as part of your history but he did do the right thing by reporting the activity. I think GLDFF is going to look at this as being history and will focus only on what affects this merger.It will be the financials, how the debt is structured, the Adverse Opinion and the circumstances that led to that opinion. I posted Craig Eastwoods professional backround experience on GLDFF Investor Hub. I am confident he can do an expert job in determining if this is a merger that can go forward.
They can debate all they want in the House of Representatives. It has to also get to the floor of the Senate and that is where there will be a delay. Will it happen? Sure but not right away. Thats why it will not help the current TRTC situation. TRTC has to carry a lot of debt for infrastructure that is still producing a product that in not legal at the Federal level. You can't ship State to State. You pay higher taxes. Banks will not lend so you are stuck with toxic financing.
Our CFO Craig Eastwood Craig has three decades of progressive leadership. Served as CFO at Powin Energy Corp. Corporate Controller at Erickson. Has had senior financial positions at ESCO,Daimler Trucks and Pharmaceutical Product Dev. This is a solid experienced professional who is heading up the due diligence. I think we are in good hands and will have total transparency.
no GLDFF's merger
I hope so too. Unless there is a side deal the CEO is young has been great for the company and would see his whole future destroyed if he were a party to an undisclosed deal that benefited him personally. Don't believe so. He has never pumped the stock. He has never made any promises or announcements until everything is verified and complete.Also works one deal at a time. Same with the CFO.He takes your calls and discusses the issues and does not just tell you what you want to hear. He knows there are financial issues and also knows there are assets to be sold but I don't think either knew the depth of the problems. I also think they were probably told 3rd Qt was not going to be great but I don't think they knew it was a disaster and that their company was going to be used to put a good face on the conference call.I will put together a comprehensive outline early next week and send it over to them. It will be the financing primarily that I think is what they want to make their determination on.
I really miss this site! I've got my hands full with a merger that no one wants!
Thanks I made a copy of your post just in case.
If the shareholders of GLDF are forced to hire an attorney anyone know how to get a hold of Robert Mueller?
On my post # 1494 I meant to state Chapter 7 not Chapter 14 Chapter 14 is actual the chapter Huck Finn sails down the Mississippi River
Lets hope the Due Diligence results in an outcome that is fair to the stockholders of GLDFF. With everything coming out in the open it would be difficult to see how this could be approved. I still have confidence in the integrity of our team and believe they are far better off without this merger. We were used to put a good face on a failing company. The recent sale of an asset after capital gains will only net $5 million. The 3 million will be gone I think by now and there is still December to go. Lots of manufactured hopes and dreams as a basis for their positive future outlook. None of it adds up just more stock promotion!
One of the recent posts showed how many shares some of the board members had and what the CEO had with the idea that if this company is so bad why would the people that run the company have so many shares. It wasn't worth a reply. Didn't see a copy of the K-8 showing the filed restriction prohibiting the CEO from selling any stock for a year. Didn't support the narrative. All stock promotion not worth a dime to GLDFF shareholders
All of this is a real problem. What is the biggest concern is the toxic debt. The way it is structured is deadly and gets worse and worse. GLDFF shareholders need to be very concerned. You cannot put a good face on this type of financing no how much you are paid to promote this stock! These posters are now critical of your post if you use all caps. I just keep reading as much as I can. There have been so many deals some have proven to be worthless. Trying to catch up!
Revenues and Gross Profits do not mean it turned a profit. Is this company in the business to make a profit or not? Not too complicated. The lawsuit is another issue for which you gave a lengthy reply. I'm not sure why that was relevant other than to change the topic. Because this merger was only announced less than 1 week ago I am just beginning to get as much information about TRTC that I can. Most of the stock promoters have made thousands of post over a long time and are very good at creating a narrative of how great this company is. I admit that I have a lot of catching up to do. One thing is important to me is to follow the money trail! Lots of transactions, stock bonuses questionable practices. So much to look at.
These #s are really what will be considered. Everything else is just Paid Stock Promotion used to put lipstick on a Pig.
When a SP declines over 60% within a 3-4 month period you wonder why someone would want to sell and get out? Another stock promotion that doesn't add up!
I don't blame you for not wanting to read what is actually intended for the GLDFF shareholders.
That money was paid back to avoid prosecution. The fact that he took the money in the 1st place is what matters here.
Al Gore wrote a book the Inconvenient Truth. The problem here is that the FACT JUST KEEP GETTING IN THE WAY!
SHAREHOLDERS HAVE TO APPROVE THE MERGER. COMPRENDE?
WHEN THE CONVERSION RATIO OF HOW MANY SHARES GLDFF SHAREHOLDERS WOULD RECEIVE WAS PRESENTED IT WAS CALCULATE BASED UPON AN APPROXIMATE SHARE PRICE FOR TRTC OF 1.80 AND A SHARE PRICE FOR GLDFF OF APPROXIMATELY .22 THE SHARE PRICE OF TRTC AS WE KNOW HAS PLUMMETED 56% SINCE JUNE AND SINCE THE MERGER ANNOUNCEMENT THIS PAST MONDAY AN ADDITIONAL 8.7% (1.80 to 1.57)so altogether a whopping 64.7%! I THINK IT IS FAIR TO FORECAST THAT BY THE TIME A MERGER COULD BE COMPLETED THE SHARE PRICE COULD BE SOMEWHERE AROUND 1.00 PER SHARE FOR TRTC. SINCE MANY INVESTORS ARE LOATH TO WANT TO BE A PART OF THIS IT IS ONLY FAIR THAT WE BE GIVEN AN ESCAPE ROUTE AND A LITTLE EXTRA SECURITY! WHAT WOULD BE FAIR IS TO CALCULATE THE TRTC SHARE PRICE AT .50 PER SHARE AND GLDFF AT .18 PER SHARE. I KNOW THE SP IS SLIGHTLY BELOW .16 BUT THAT IS A RESULT OF IT BEING DRAGGED DOWN WITH THE POSSIBLE MERGER WITH TRTC. AT .50 AS SHAREHOLDERS WE COULD AT LEAST GET OUT IF THE STOCK CONTINUES TO PLUMMET AND AT LEAST GET OUR MONEY OUT! THE OTHER REQUIREMENT WOULD BE A GRADE OF STOCK WHICH IS ASSET BACKED TO AVOID A COMPLETE WIPEOUT IN A CHAPTER 14 BANKRUPTCY. THE NEW RATIO WOULD THEN CALCULATE TO .36 SHARES OF TRTC FOR EVERY SHARE OF GLDFF
BACK IN JUNE WHEN THIS ARTICLE WAS PUBLISHED TRTC STOCK PRICE WAS 2.80 THE WHOLE PURPOSE OF THIS ARTICLE WAS TO HELP INVESTORS UNDERSTAND WHY TRTC IS A SHORT AND THAT SHAREHOLDERS SHOULD SELL IMMEDIATELY AND SEEK MUCH BETTER OPPORTUNITIES. TODAY THE SHAREPRICE CLOSED AT 1.57 LET ME DO THE MATH! 1.57 DIVIDED BY 2.80 = .56 THE SHAREPRICE HAS DROPPED SINCE THIS ARTICLE BY 56% PLEASE GIVE ME MORE ARTICLES LIKE COMPLETE SMOKESCREEN-QUESTIONABLE MANAGEMENT POORLY RUN BUSINESS AND DILUTION RISK RATHER THAN POSTS THAT ARE TRYING VERY HARD TO PRESENT A NARRATIVE THAT THIS IS SOMEHOW NOT REAL HAS ULTERIOR MOTIVES AND THEY HAVE SEEN THIS BEFORE. NOW YOU AS GLDFF SHAREHOLDERS NEED TO READ THE ARTICLE! MY NEXT POST WILL PRESENT A NEW SHARE CONVERSION RATIO THAT AS SHAREHOLDERS WE SHOULD DEMAND OR WE CAN ALWAYS FILE AN INJUNCTION.
Wow! Great Expectations Indeed!
Edible Gardens should also be sold. Hasn't made a profit since 2014. Its not just poor locations that are causing big losses its the product lines themselves (IVXX Business Line). The excuses were many at the conference call. Golden Leaf Holdings merger was the only good news for TRTC shareholders and the worst news for GLDFF shareholders. Bad overall execution on management and product and the worsening toxic debt will stop this merger in its tracks.
That recoup of a bad investment is about the only way they can generate cash. Edible Gardens has lost money every year since 2014 Its Branded Cannabis line IVXX , the Blum Dispensary all are failing. The Adverse Opinion issued by the auditors shows poor financial controls. To say an asset sale is a good start to the 4th Qt says all you need to know. All the assets should be for sale. For this management team to get their hands on Golden Leaf Holdings and do to this company what they have done to TRTC is outrageous!They cannot hide behind the numbers! All kinds of excuses were given at the 10Q conference call. The only bright spot was the announcement of the merger with Golden Leaf Holdings. The stockholders will not approve of this merger. It may not get to that point if TRTC continues its downward cash spiral.
Just because they are shorting TRTC doesn't mean they have an agenda. They provided information that helped them make the decision to sell their shares. They provide info that needs to be verified and the article makes that clear. That is what the due diligence will achieve. Again the numbers are going to be the overriding factor. Past issues may or may not have any bearing on someone's current behavior and may or may not be relevant to this merger.
Me too but I will always respond if necessary
I know they have this and have acknowledged that to me. Its a factor but the meat of what they are going to make their decision on will be the financial numbers. The Adverse Opinion issued by the auditors does show the lack of management controls which has led to a massive operation that is going to be very hard to keep going . GLDFF in my opinion just doesn't have the amount of money necessary to get this to the finish line. They have taken a more measured path and when Tahoe is finally approved they will have another great profit center.They do have other options in their sights so if this merger doesn't work they do intend to move on.T.hankfully this is non-binding
Try reading the financials and if you were not in on the actual call I can't help you but what dragged down 3rd Qt. will still linger and have an affect on 4th Qt.according to your CEO
This has already been forwarded to management and will be a part of the due diligence. For me the auditors Adverse Opinion says it all about the total lack of management controls. This unfortunately has allowed unchecked spending and growth at a time when the opportunity is still at least 6-12 months away from fruition. The financial #s are really what will be a determining factor in whether this merger goes thru. The personal stuff is difficult to say it has a bearing on their decision. It would make a difference to me but I'm just a shareholder and I would not vote yes on this merger.
it is but it will not happen for at least 12- 24 months. The problem is TRTC at the current loss rate will not get that far unless they find another possible player that has 50 or 100 million dollars. GLDFF has only 12 million. I have confidence in their CFO that he can make the right decision regarding whether to go forward. The amount of toxic debt is a killer and between the shortfall of GLDFF and yours in two months its over.That is if you got the money today! You still need to get thru Nov and Dec on the 3 Million you have. Your own CEO said 4th Qt will also have the same problems which dragged down revenue as 3rd Qt. You may be going into 1st Qt 2019 with no cash on hand.
For all the shareholders of which you are not one coming down from $2-$3 to whatever it closed at today has to be devastating. Before the 10Q guys like you were tryng to present information not sling insulting slurs. 3rd QT 10Q was the worst news ever. Too bad Thanksgiving is still two weeks away. This turkey is done now!
Hemp is completely different from recreational pot. Try getting an education as to what hemp is good for versus medical and recreational pot.
I think the actual shareholders just want the company to survive and if Peterson could be gotten rid of, I think they would be ok with that. The real issue is one of time and money. The cash on hand will not last past 4th Qt. Their announcement yesterday was for 4th Qt to be just as bad as 3rd Qt. They used the merger to try a put a good spin on their future but now that GLDFF knows exactly what their financial status is I Don't see them moving forward. They only have $12 million in cash on hand. Between their shortfall and if they have to cover TRTC's shortfall, in 60 days everyone is gone because they would have to declare bankruptcy I think Chapter 11 but Perhaps even Chapter 7. Just too much spent on creating a business before the market was ready to reward them. The only fit for TRTC is a very large player with tons of cash not GLDFF.
Great
Just share with GLDFF. I have. The problem I have with not announcing now the merger is off is the effect it has had on some of our shareholders who dumped their shares because of past experience with their management. This merger has no chance to be approved by shareholders. With 3 million in cash it will take care of itself. GLDFF can wait and see the share price continue to decline cash disappear but at this point even if you could just take over for no cost the toxic debt is insurmountable. As SP erodes the warrants and options will be exercised and this will wipe out shareholder equity.Just before that will be lawsuits for non payment of vendor invoices. History does often repeats itself. Long history here.
This is definitely my last post for awhile. I am an investor of GLDFF and I am not a professional poster. I just emailed Craig Eastwood to do just that. It's not right to see fellow shareholders suffer losses because of this fiasco of a merger. I emailed that we should stay the course of what we were doing prior to all of this mess. Just complete the Tahoe deal develop it and take small steps to get ready for when the Fed does legalize pot. If we just do our plan we will have more respect from the big possible merger options that will see we are financially sound and are run with a competent team of management.