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You are correct with the statement until the country legalizes recreational pot. That is the entire problem. It will not be legalized for another 12-24 months. Meanwhile the bleeding goes on and on. Too much too soon. Too optimistic that legalization was right around the corner. Look what happened to pot stocks shortly after Oct 17th They went down because their was no quick profits for investors. last look at my on line account showed TRTC already at 1.58 with over 200,000 shares sold. Will be up and down all day I would assume. Time for you to make that buy.
Unfortunately you do not understand what this company has used to finance all of this infrastructure. You need to understand how Warrants and Options are exercised and when. As the share price goes down and it has absolutely been trending down these warrants and options will be exercised and will wipe out shareholders completely. The current management has a history of this very outcome.If you think this merger will take place you are mistaken. There is not enough cash on hand here to make it thru the end of this year. Yesterday's 10Q analysis was a devastating blow to a narrative created to show what great things this company has achieved. Are you aware that the auditors issued an Adverse Opinion against this company. This showed unregulated management over the entire company.
There is no amount of stock that I would want to be involved with this Turkey of a merger. We have a good management team and are proceeding on a course that will keep us going ahead and in the Black 2nd Qt of next year! There has been given by auditors and Adverse Opinion about the uncontrolled financial management by the company looking to take us over. Given their recent 10Q disclosures it will not be around long enough for GLDFF to even complete due diligence. Its not even worth reversing the entire deal with us taking them over and giving them the same deal for their shares. Too much overhead for anyone that doesn't have 50- 100 million on hand to stay the course. If we just get Tahoe done and make those grow facilities operational we will be in A-1 Shape. I will not use up any more posts for a little while. I am not being compensated for my posts and want to wait for later in the day.
When you loose 13 Million dollars and have a measly 3 Million cash on hand
all the toxic debt (Warrants and Options) loom large. Once default happens shareholder equity gets wiped out. SP from June to September dropped 50%. This was after 2nd QT 10Q report which was totally unlike yesterday's report. Sorry to see the downward spiral began but either hold on for the ride or get whatever you can!
WE WERE USED! The great accomplishments that have been achieved by Golden Leaf Holdings were used yesterday afternoon to create a narrative for a new future for a company that is a failure! The worst result that happened was the losses that some of our shareholders suffered when they sold their shares upon hearing the merger announcement. They 1st had lost money with a previous company and knew to take the loss and run and now not by their own doing again suffered a loss as a result of their total fear of again being involved with the same management team. Golden Leaf Holdings only has $12 million on hand. The announcement yesterday of a $13 million dollar loss and for a 4th Qt to be about the same assures that this merger will not happen. I have stated before legal recreational pot will not happen for at least another 12-24 months! Mitch McConnell will not allow any discussion on the Senate floor at this time.It doesn't matter what the House of Representatives does it has to pass both house of government and signed by our President inorder to become law. All the spending creating pot growth and distribution centers is still too early and will only bleed RED for quite some time. Because it is not legal you are taxed on the revenue without the advantage of normal write offs. There is not enough net income to expand recklessly right now. Golden Leaf Holdings has just the right approach and irons in the fire and will get to be a major pot company. In fact it could be taken over by a Good Company that is not out to use us!
The 10Q report for GLDFF was right on the mark with no excuses about operations, the market new regulations. Having $12 million in working capital is worth its weight in gold! If there is still something to consider to still want to do a merger it must be calculated on share price to share price. Lets see Monday where we are!
We have $12 million in working capital. Did I hear correctly how much TRTC had? Slightly over 3 million! OMG
I feel so bad for the current shareholders of TRTC. Much worse news than I had expected. Now for the due diligence to begin. This could change everything for GLDFF. Not sure it is even worth any risk to go forward but I am sure shares will really take a hit on Monday.
Anxious for the 4:30 PM TRTC conference Call to see how our prospective partner did in 3rd Qt. I sincerely hope it is less than the -.17 per share loss posted last 10Q
Actual shareholders know what we have which is why the merger is a real drag on us making it. We will decide if a merger takes place not TRTC. LOL
how many site do you go on?
To all GLDFF Investors. WE have all the options. Our conversion price is based upon two Share prices. TRTC continues to go down because of the investments they have already made. Ours can only go down if you lose faith in our team and short sell. Our conversion rate will be ultimately based upon the current value of both stocks. They cannot do anything about where there stock is headed but we can. I can assure you our team has the information concerning the negative history of their current management team. If our SP goes up and their's goes down the factor increases in out favor. Our team is aware of the toxic debt and the assets that can be liquidated to erase that problem. I thought this was a disaster when I first learned of this deal but I have given a lot more consideration to trusting our team to ultimately do the right thing and make a deal if it benefits the shareholders or walking if the deal is unacceptable to our shareholders. Don't lose investment money unnecessarily.
Here is my opinion. An LOI ties up TRTC from making any other moves.Meanwhile GLDFF is not obligated to go through with the deal. As the SP of TRTC drops and their cash on hand drops their position starts to erode. !This will take 3-5 months to complete so there will be a much different deal when its all said and done. In my opinion selling GLDFF stock is just a knee jerk reaction. I think the management of GLDFF knows the bad situation TRTC is in and entered into this agreement with knowledge that all of the options are in their hands not TRTC. I personally would not sell now and sell at a loss because it is not necessary. If you had confidence before in GLDFF you should let things unfold over the next couple of months and wait to see the bargaining position GLDFF ends up with.
Since the only agreement signed is non binding I have a feeling that this is only the beginning of negotiating the right deal for GLDFF. This merger will take quite awhile to finish. Lets see where the SP is at that point and see if TRTC can get listed on the Canadian Exchange. Perhaps our CEO is the Donald Trump of the Pot industry in deal making. We could end up with .15-.20 or more in our conversion factor.
Here is my hope if a merger takes place. I believe the GLDFF conversion factor was based on the TRTC stock value at around $1.80. Thats a lot better than the price it was at in June which was about double. Given the trending down of the stocks value if the deal gets done I hope that conversion factor is readjusted to whatever the current share price is as of that date. If public sentiment has a nice upward swing because of Session's exit from the picture there may well be some growth and short term opportunities. TRTC can still sell some assets to raise some more capital so hopefully there will be enough time for some gains.
A short while ago I had responded to the information that you had provided and was hopeful you could provide some additional answers to my questions. I also want to note the financials also show for the same time period a loss in 2017 of $453,769 and a loss same time period 2018 $11,428,000 I am very hopeful that todays conference call shows a much, much smaller loss. The merger doesn't result in enough working capital at that rate.
The 2nd Qt 10Q showed EPS (loss) in same period 2017 at .01 Same period in 2018 is ,17 loss. I will be very interested in the conference call today to see how things are. I have the dial in and access info but I am not certain I will be able to access the call. Hopefully the transcript of the call is available same day. I will say the decline in share price from June 2018 to today is breathtaking! My hope is that if the merger goes through there will be enough eager buyers that I will be able to make some money in the short run, I do not believe this is a long term hold.
Thanks for forwarding this info. I do have a couple of questions. You state that there are 72,189,614 issued shares outstanding of common stock. 2 Questions 1- is this after the reverse split 15-1? 2- When I look at the Balance Statement under Stockholder Equity it lists 70,852,987 & 61,818,560 This looks like 132,671,538 not 72,189,614 Another question I have pertains to the outstanding Warrants and Options Outstanding Warrants are listed at 1,092754 shares and options at 884,207 shares Biggest question I have is WHAT IS THE DILUTED EARNINGS PER SHARE IF ALL CONVERTIBLE SHARES WERE EXERCISED?
Prove it Present filed k-8s that they converted. Prove there is only one class of asset backed stock which TRTC is trying to use in the merger Don't crap out and say this info is available and say its up to me to go seek out the info. You are desperately trying to make the case that these are good people when the truth is there not! Many investors have been wiped out by your management team. Just a unscrupulous group of people that you are stuck with!
Couldn't help adding a conclusion to "B " shares of stock issued by TRTC. I believe these shares are not part of the convertible stock deal when they issued the last two debentures.So when they default , the common stock is wiped out which is us and they escape with their "B" shares intact. Thank you Magnum 7419 for letting us know!The only people with the "B " shares are the management team!
He does get the emails I know he told me he received mine about the history of problems with TRTC and it management. I would also leave a message with the receptionist. He does return the calls. I am going to scan a lot of these posts along with my outline and email that to Craig by tomorrow. I ask anyone who has a bad personal experience to post it today. Magnum 7419 posted an outstanding post revealing the fact that there is another class of stock that have asset value and they are "B" shares. If we were not offered that by Derek Peterson right from the start it only goes to show the scam is on! I am not going to post for awhile today until later. I don't want to use up too fast my allotment. GLDFF shareholders should also go on the TRTC Investor Hub site. You will see that the only positive posts about this merger are ones that are actual shareholders of TRTC.
Craig Eastwood CFO needs as much information regarding the underhanded ways the TRTC shareholders have been treated. Looking at the financials of TRTC is not revealing the real truth of how we all will be eventually be screwed by their management!He needs the information so he can present this to the Board of Directors. Our CEO does not have the almighty power to invest $12 million dollars in a company run so underhandedly.
You have direct experience with TRTC. Please help me and the other GLDFF shareholders by calling Craig Eastwood personally! He does take the calls. No real due diligence is required for this turkey of a deal once you see the dirtbag moves made by the management of TRTC. They could care less if shareholders get wiped out. I have repeatly stated in past posts that this is a 12-18 month horizon for GLDFF to become a great investment. That still stands but its over if one person our CEO doesn't change course. Even the Board of Directors need to be contacted. This merger needs the approval of all of us not just the CEO
Thank you for your post. I also have found so much dirt and garbage associated with the management team of TRTC that it makes you sick! Our CEO is a young man but if this deal goes through his future will be over! The bleeding will continue for TRTC and if you add the bleeding for GLDFF and TRTC it will only take about 4-6 months to run through the $12 million which will result in a complete wipeout of Shareholder Equity and a total bankruptcy! Our CEO will never recover his reputation! Go to the GLDFF website and email CFO Craig Eastwood your concerns. He will answer your calls he has answered mine. He is a total pro and did not have any knowledge of the backrounds of the management of TRTC!
Perhaps you missed what happened in the Senate races. Republicans now have a six seat advantage over Dems. It doesn't matter in the short run what voters or newly elected officials say and proclaim about legalizing pot. Mitch McConnell already has proposals by Elizabeth Warren and the Sen from Colorado that he has refused to bring to the floor for discussion! This proposal was not even going to legalize pot but rather it would prohibit the Feds from interfering with States that have by legislation to have legalized pot. Not bad but you still can't ship state to state and on a tax basis you pay full Federal Tax on entire REVENUE not net!This is not entirely going to go away but it will take another 6-12 months at minimum for it to have a serious chance to come to the Senate floor for a vote. Not enough time here to keep a bleeding business alive!GLDFF is going to be cash positive the 2nd half of 2019 as a result of their course of action. Our $12 million gets us to the finish line. Interesting to note you guys are projecting $7 million in revenue. Against what increase in expenses!I believe the bleed continues and should not be financed by GLDFF!
Forgot to add to my last post. If this merger had not been included with the Conference call for the 3rd Qt. I believe our stock would be int the ,25-.28 range.right now. It was heading back up! This merger talk is a killer and will continue to be a drag on the SP. The faster this merger is killed off the better for us loyal GLDFF Shareholders. Beside all the bad economic moves by TRTC its managment team are terrible people to even want to do business with.
TRTC is up to their EYEBALLS in Toxic Debt. Many of the members of their management team have come from prior companies where shareholder's equity was completely Wiped Out! Our CEO is young and has been bamboozled by an OLD PRO! When out stock price went down from .22 to .14 it was because investors didn't like our new financing deal Unsecured Convertible Subordinated Debenture Units. If all fails this also is toxic. My faith was with the game plan GLDFF had and that they were putting new profit centers in place one at a time. Pot is not legal on the Federal Level and will not be for some time now. Doesn't matter what voters want. Mitch McConnell has to bring it up on the floor of the Senate and he is not inclined to do that soon. He will be forced to do it but my guess is it will be closer to the next Presidential Election. That is 2 yrs off. With our current game plan we are told we will be cash [positive by 2nd Qt of 2019. Our current $12 million will allow us to reach that point and from there the sky is the limit! TRTC has created tons of toxic debt building an ill planned business. If our CEO just waits 6 months we can take over TRTC for Pennies on the Dollar. They are gasping for financial help. I do believe do diligence will show our $ 12 million will be wiped out in 4-6 months and both TRTC and GLDFF are history. We do have a say about this merger. Let your voices be heard! I am not against mergers just not TRTC now at this time.
TRTC is the Real Deal alright A Bad DeaL! Loads of toxic debt! You are about to go down and now are gasping for a bankroll. Our CEO is young and has been bamboozled by an old pro. All the focus is on how much TRTC has going, how much pot Going to Be Realized Soon. Too much way too soon. The carrying charges will bury you very soon. If GLDFF just waits 6 months TRTC can be had for pennies on the dollar. Contvertible Debentures have a history of wiping out shareholder's equity to Zero. You have management members whose prior companies have done just that to shareholders! GLDFF has a much better game plan better products and has cash! I am going to make sure the CFO of GLDFF knows all this history and with due diligence will see this is a crap deal for GLDFF. I will also make sure GLDFF investors are in the loop.
Not looking for the perfect match. Right now GLDFF is not in a position to cover their shortfall and TRTC's shortfall. Your company created their obligations and GLDFF should not be bailing out your negative cash problem. Pot is not legal so building all these facilities is bad timing and will bleed red for quite some time. I just sent this same message to the CFO of GLDFF. Until Congress passes a recreational pot law which is still some time off these grow facilities are not real profitable. Remember they are taxed differently by the Federal Government since it is an illegal substance. On another note look how investors mistakenly thought Oct 17 was the kick off to big profits and gains. Didn't happen so then there was a sell-off. I will continue to hope GLDFF has the patience to stay the course they were on and not spend their cash to bail out bad investment decisions by others.
I do too.There will be mergers! A lot of hopeful investors are misreading the time frame for the federal government to legalize recreational pot. It will still be a ways off after the election because Mitch McConnell has not made it a priority. Growing massive amounts of pot is not the answer at this time it only adds to the fixed overhead therefore the bleeding of cash. Right now the Federal Tax on an illegal substance makes is very difficult to get ahead. GLDFF has a medical grow facility in Canada and operates CBD extrations which was reclassified recently so it has a better profit picture. Slowly adding grow facilities is easier on cash flow. i think we are at least 12 months or more before Congress will take up recreational pot legalization. Right before the general presidential election. Just my opinion!
Definitely unhappy GLDFF shareholders when this merger was announced. This merger is not a gift to the shareholders of GLDFF. GLDFF has the capital and should be the acquiring company not the other way around.
He had nothing to share at this time. He was just starting his due diligence. He will check out various issues and if they do not affect or are not central to this merger he will make that clear. I have spoken with the CFO prior to this merger and I do know he takes shareholders calls.
For this to be an ok merger GLDFF needs to control operations including bringing in Craig Eastwood as CFO. The GLDFF management team are straight shooters and could make this work.
You are so correct. The Unsecured Convertible Subordinated Debenture Units issued by GLDFF did cause concern for investors and the stock dropped from .22 to .14-.15 level.Toxic Convertible Debt can cause a major dilution problem for investors. TRTC has already issue two similar offerings yet still needs more cash to keep it going.
What TRTC is in desperate need of is cash. It bleeds heavily every month. This is their desperate attempt to stay afloat. I have spoken with the CFO of GLDFF and he will just begin his due diligence. He was not aware of all the personal bankruptcies of the management team including the CEO and Treasurer. He now has info that shows the CEO was involved in the Mazzuto scam and paid a settlement to get out of it. He is now aware that Macias, Gini & O'Connell LLP issued an Adverse Opinion on Financial controls.. He is also now aware of the lawsuits that are pending against TRTC from alleged unpaid suppliers. Lots of info to pour over before he is finished. There are other acts that he is aware of also but no need to grind this mess any further here.
Depends on whether the financing includes convertible shares of common stock. Hard to get funding otherwise when you operate in the RED
If GLDFF can control the money and the operations it would at least be an honest run company. Too many bad things in the past for me to trust TRTC .Don't forget TRTC needs the$12 million GLDFF brings to the deal. Without the cash TRTC is on its last legs. Too much money spent to create production for a product that is currently illegal in the US. Won't be legal for a couple of years on the Federal level. Putting the cart before the horse will bleed cash flow for some time yet. Plus both companies have borrowed by issuing convertible debentures which has the potential of greatly diluting shareholder equity.
What is getting these companies in trouble financially is the fact that Pot is not legal on a Federal level. In the US spending to increase capacity is just a little too soon. These companies are thinking laws will change soon and they want to be ready to meet demand. They look at Canada and see a lack of supply and want to get geared up but we are not there yet and won't be for at least a year. This slow bleed is what is doing in these companies.GLDFF was creating different types of products that was adding value. TRTC just wants to grow tons of pot which right now is not that profitable.
I took the time to read the transcript for the 2nd Qt Shareholder meeting of TRTC. Very similar issues. What is a concern is the Adverse Opinion issued by the auditors on financial controls or lack of and the fact that they have issued two convertible debentures. We have issued one ourselves which did cause the astute investors to sell over the last 30 days because of the possible shareholder dilution that can happen. There are also lawsuits pending.There are also management individual bankruptcy filings in the past that is alarming to say the least. All this being said I would still like to see the deal squashed but I also think that I would definitely lose financially if I dump shares now. I would be somewhat ok if our management team was in charge so we could control the $12 million that we bring to the table. TRTC needs that capital because they are burning up capital at a rate that would close their doors in the very near future. They have opened facilities and could produce a lot of pot but they are in financial trouble right now.
Looks like another Green Day