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Why? I don't need a lawyer. lol
Seriously, this is bad news for the CANN case. Their lawyers withdrew. Not fired, quit.
You talking about the linkedin for Steven Selna? Cause it looks like he works for another firm. I can't find anything on Selna Partners, LLP.
I hate you guys so much for buying today. My funds don't clear until tomorrow. lolol. Just kidding. We all know the smart thing to do is just get the shares. Plenty of upside to go. We're still looking at a billion dollar plus market cap when this all plays out. You know it, I know it.
They haven't had to file them publicly yet, but certainly to the OTC. They wouldn't have gotten their certificate otherwise.
Ah, you forget they also need to provide audited financials. ;)
It'll certainly help. Stinky QB just doesn't have the ring to it as stinky pinky. Why is JC killing all the fun? Heck, we might even get a filing soon. Oh noes. lolol
Why's everyone buying? I'm so confused. lol
Let's hope the oil crash hasn't derailed the plans. You never know. Maybe he'll end up selling the shell to someone else and we can go from there. That'll be fun.
There's not many grifters who can afford an office in Bellvue Towers. There's more to him than you give credit.
Is that somehow bad or something if he makes money on stocks or am I misinterpreting that comment? What are we doing here when success is punished?
OR, more likely, they could finalize some of those acquisitions in the next week or two and you could get an easy 3-5 bagger, more if you're patient. I'll put my money on that. This is a prime buying opportunity if you like to gamble. I may get another 10k shares with my stim check next week. :)
None of the events going on will stop the merger. Remember, there's 11 companies here.
I'm not discounting his info. He does seem very well connected. But whatever he says should be viewed through the prism of a professional trader. If he's still posting about a ticker, that means he's still invested in it.
He didn't say it has been withdrawn. The hearing hasn't happened yet. He says it will be dismissed after they prove the treasury has a hold on the funds.
The question is, does he know the truth, really? While everyone else is just throwing spitball guesses? It's possible...
If we're throwing out guesses...I'm gonna go with rehab.
Wow. Just wow.
Sigh. So much conjecture. So little facts.
JC lives in King county. 4426 covid cases in King county, WA. 292 deaths. 10th most deaths for any county in the US.
I tell you what, I'm terrified if I get this thing. I live in a big city. I've got lung issues and could very well be one of those statistics.
Let's hope he's ok....
I don't mind saying. Though I'm sure someone will rip me for not selling when it was over $2.00 lol
I started buying last July. I sold some around $1.25, but now have 20k shares at $.45. My tipping point is $5.00 lol. That's when I will consider taking profit.
I see no reason to sell right now. The DD still checks out.
Agree. Easily absorbed.
Probably legacy shareholders. They're not insiders anymore. No reason they can't sell their shares. They sold the company. I fully expect all their shares to get released over time.
And anyways, unrestricted does not mean sold. Not a big deal, IMO. Just another aspect of the transition to going public.
Also, one of the legacy shareholders died recently, so his estate has those shares now. (This is what I've read, not verified) JC mentioned the daughter isn't going to cash out, but who knows. If it were me I'd probably want to sell some.
Good point. No, excellent point.
We all are. But odds are we'll never get to hear it. Either the case will be dropped or it'll be settled. Civil cases don't actually go to trial very often. I'm 50/50 on the outcome (which means I have no idea). Much depends on if the fincen info is correct.
I can't wait to to see the shorts burn.
They know where to find him if they want to. Why should he go looking for them? lol All they have to do is camp outside his luxury apartment tower. Or better, go visit his lawyer's office.
And lawyers always tell the truth exactly as it happened.
Just saying, I'd want to hear from both sides, before taking sides.
There seems to be a lot of speculation about things. I'm convinced it's mostly inaccurate.
Ok, so PBC is an operating division of Pacific Processing, which is a subsidiary of GRN Funds. What's the difference?
Should they not have done that? Is it illegal to move funds from a subsidiary to it's parent company? I don't think so. That's not the issue. It's whether PBC should have paid the withdrawal request or not. If CANN had the deposits on hand, then they should have. If they didn't, then PBC was right to not pay it. We don't know the the answers yet.
People are claiming fraud, theft and wire fraud. I don't see it going there at this point. The facts will be revealed in the suit, or it'll be settled without disclosure. Either way, I'm not worried about GRNF as a whole. There's much more to this company than PBC.
Last I checked, I don't own any shares of GRN Funds.
Just so it's clear, GRNF is not the subject of a lawsuit.
There's some stuff going on with one of the eleven proposed subsidiaries, but I don't see that delaying or derailing the proposed mergers. GRNF shareholders are not in jeopardy.
Know what you own.
There's much we don't know. I'm not disagreeing PBC may be at fault. If they are, then they'll settle this and move on. A few milly out of hundreds of milly is not a big deal.
If GRN Funds decides to go to trial then I'm pretty sure there's some other evidence we don't know yet that may dispute the claim. Many lawsuits are filed in hopes that the defendant would rather settle then create the public spectacle a trial entails. Just sayin.
Bullshit. No evidence of mail and wire fraud whatsoever. If you're going to allege that, give us the evidence or don't post it.
It's not a matter of what got spent. It's irrelevant. It's not illegal or unethical to move deposits to other investment accts. All banks do that. No bank keeps 100% of your deposit on hand in cash. They move them in and out of investments every day. They should keep enough liquidity to pay expected withdrawals though. Given the recent market crash, they may have been caught unprepared. The issue is if they had immediate funds on hand to fulfill their request. Sound like they didn't. In which case, they'll probably settle this and the damages in short order. If it's some other issue like a lack of funds on the plaintiff's part, then that'll get settled in due course during disclosure.
That doesn't say what subsequent withdrawals were made against those deposits. What was their balance when they made the payment request? I don't know what's CANN's books look like, but the vast majority of cannabis companies in the US operate with a deficit. They spend more than they make.
So much we don't know about this....
Who says he's dodging? The lawyers already served the wrong Justin Costello once. Maybe they don't know where to find him? lol This firm doesn't strike me as top notch.
Not plausible. At all.
He's not going to give away his controlling interest. You think he's going to bail on GRN, the dozens of companies he owns, and go live in Belize? lol
That's not what I meant. Of course they should be made available. Just saying it doesn't have to sit there in a vault doing nothing in the meantime.
If that's the outcome you seek, perhaps you read that. I don't. Funds are moved in and out of banks every day. The client does not "control" it. They are free to invest it elsewhere. It's how banks make money.
I would like to know what actually happened other than what a plaintiff thinks happened, which is spelled out in the most egregious way possible in a court filing, as lawyers tend to do.
Costello had control the entire time. He owns both companies. Why was the withdrawal refused? Clerical error? Miscommunication? Technical error? Does anyone know? Theft is probably the least likely scenario.