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Yep.
And the balance of trades on Friday. This is officially where the dump stage begins.
https://ih.advfn.com/stock-market/USOTC/spectrum-global-solutions-inc-SGSI/trades
Look at all that selling.
Cant wait for the 10Q.
LOL
GLTA & JMO
Might be explained in the upcoming Q.
They could have issued all those shares to get the LOC that was previously announced or at least used it as part of an ABL.
GLTA & JMO
Looks like the dump portion of the latest stock promotion is about to tip the scales into 'unfavourable' for shareholders.
Get ready.
GLTA & JMO
GTEC Holdings Receives Updated License from Health Canada Permitting B2B Cannabis Sales
KELOWNA, BC, Nov. 9, 2018 /CNW/ - GTEC Holdings Ltd. (TSXV: GTEC) (OTC: GGTTF) ("GTEC" or the "Company") is pleased to announce that its wholly owned subsidiary, Alberta Craft Cannabis Inc ("ACC") received its updated license on November 8th, 2018 in accordance with Health Canada's Cannabis Act and Cannabis Regulations, which had previously been issued under the Access to Cannabis for Medical Purposes Regulations ("ACMPR").
Effective immediately, Alberta Craft Cannabis is authorized to sell cannabis in accordance with subsection 11(5) of the Cannabis Regulations, which include the following activities:
The sale and distribution of dried cannabis, fresh cannabis, cannabis plants and cannabis plant seeds to any of the following license holders: micro-cultivation, standard cultivation, processing, analytical testing, research, or cannabis drug license;
The sale and distribution of cannabis plants and cannabis plant seeds to a holder of a license for a nursery;
The sale and distribution of cannabis plants and cannabis plant seeds, that are cannabis products to: a holder of a license for sale, or a person authorized to sell cannabis under a provincial Act by reason of subsection 69(1) of the Act; and
The sale and delivery of cannabis plants and cannabis plant seeds, that are cannabis products, to the purchaser of the products at the request of: a person authorized to sell cannabis under a provincial Act by reason of subsection 69(1) of the Act, or a holder of a license for sale.
Since its debut on the TSX Venture Exchange on June 22, 2018, the Company has entered into strategic partnerships with the following Licensed Producers:
Invictus MD Strategies (TSXV: GENE) (OTCQX: IVITF)
https://www.gtec.co/gtec-agreement-with-invictus-cannabis-retail-expansion/
Namaste Technologies (TSXV: N) (OTCQB: NXTTF)
https://www.gtec.co/gtec-announces-supply-agreement-with-namaste-technologies-cannmart/
Valens Groworks (CSE: VGW) (OTC: MYMSF)
https://www.gtec.co/gtec-signs-cannabis-extraction-agreement-with-valens/
The updated license will allow GTEC to immediately engage in business to business (B2B) sales to its strategic partners and/or other qualified license holders under the Cannabis Act and Cannabis Regulations.
"We are extremely pleased with Health Canada's new licensing system under the Cannabis Act and Regulations. These updates allow for GTEC to immediately supply its current inventory into the medical and provincial markets through its strategic partners," said Norton Singhavon, Chairman & CEO of GTEC. "Upon completion of our initial B2B sale, we look forward to transitioning into a revenue generating company."
On October 3rd, 2018, the Company previously announced that Alberta Craft Cannabis had notified Health Canada that it was ready for a Sales License inspection. The Company would like to reiterate to shareholders that it is still awaiting this Health Canada Sales License inspection, and that currently, the Company is not authorized to sell dried cannabis directly to qualified medical patients.
For more information on activities authorized under Cannabis Regulations, please go to:
https://laws-lois.justice.gc.ca/eng/regulations/SOR-2018-144/page-3.html#h-9
For more information on activities authorized under Cannabis Act, please go to:
https://laws-lois.justice.gc.ca/eng/acts/C-24.5/page-9.html#h-18
About GTEC
GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is a public corporation listed on the TSX Venture Exchange and based in Kelowna, British Columbia. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Alberta Craft Cannabis Inc. Grey Bruce Farms Inc., Tumbleweed Farms Corp., Zenalytic Laboratories Ltd., and Spectre Labs Inc.
To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co
Yep. Looks like they have already started ventilating the OS.
It was half of that last month.
And even 1% of the float traded is significant.
Thank goodness for stock promotion.
LOL
GLTA & JMO
7% of the OS.
Tiny by absolute value, but not by relative value.
GLTA & JMO
Not yet..
12 shares bought at the close to put lipstick on this pig.
Desperate times call for desperate measures.
But in all honesty.. why do they continually run stock promotions?
DILUTION.
I cant even make this stuff up.
GLTA & JMO
Looks like SGSI has been flagged for Stock Promotion.
AGAIN.
OTC Markets designates a security with a promotion flag when it becomes aware of current stock promotion related to the issuer. The promotion flag remains on the security for 15 days following the end of the stock promotion. For more information, please see our Policy on Stock Promotion.
https://www.otcmarkets.com/stock/SGSI/overview
Here is the link to policy associated with stock promotion.
https://www.otcmarkets.com/files/OTC_Markets_Group_Policy_on_Stock_Promotion.pdf
Hype and swipe, followed by dilution.
The pattern continues.
GLTA & JMO
They need to pay for their $1M per month of overhead expenses somehow!
LOL
GLTA & JMO
Xebec Announces Third Quarter 2018 Operating Results -Revenue up 100%, EBITDA of $1.1million, and Net Profit of $0.64 million
MONTREAL, (QC), November 8, 2018 – Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions announced its 2018 third quarter and nine month results.
Financial Results
~ Revenues of $8.2 million in the third quarter of 2018 compared to $4.1 million for the same period in 2017, a 100% increase.
~ Positive EBITDA at $1.1 million in the third quarter 2018 compared to $0.3 million in 2017.
~ Gross profit of $2.8 million or 34% of revenues for the third quarter of 2018 compared to $1.7 million for the same quarter in 2017, a 65% increase compared to the same period in 2017.
~ Net profit of $0.64 million or $0.01/share in third quarter of 2018, compared to net income of $0.1 million or $0.00/share for the same period in 2017.
~ Working capital improved to $3.9 million for a current ratio of 1.4:1 compared with a working capital of $1.8 million and a 1.3:1 ratio in December 31, 2017.
~ Revenues for the nine-month period ended September 30, 2018, amounted to $18.0 million compared to $11.5 million for the corresponding period, an increase of $6.5 million.
~ Gross profit for the nine-month period ended September 30, 2018, of $5.7 million or 32% of revenue compared to $4.7 million for the same period in 2017, a 21% increase compared to the same period in 2017.
~ For the nine-month period ended September 30, 2018, net loss of $0.4 million or $(0.01) per share compared to a net profit of $1.0 million or $0.02 per share for the same period in 2017, a deterioration of $1.4 million.
~ Positive EBITDA for the nine-month period ended September 30, 2018, of $0.8 million compared to a positive EBITDA of $1.7 million for the same period in 2017.
~ Backlog increased by $48.8 million, from $16.7 million at November 28, 2017 to $65.5 million at November 8, 2018.
~ Selling and administrative expenses increased by $0.3 million in the third quarter of 2018 compared to the same quarter of 2017. For the nine-month period ended September 30, 2018, SG&A increased by $1.3 million compared to the same period of 2017. Intensive efforts and investments are being made to support the anticipated rapid growth of the Company.
Current Market Conditions and Guidance for 2018
The company was able to grow revenues by 100% in Q3/18 compared to the same period in 2017. Management partially resolved the working capital issues early in Q3/18 through credit facilities with EDC. With the November 7th closing announcement of a $6.1 million equity raise, and with conditions in Xebec’s target markets remaining favourable, Xebec anticipates that revenue generation will continue to increase, allowing us to maintain our guidance for revenue in 2018. We expect revenue growth for 2018 of 50% to 70%, leading to revenues in the range of CDN$ 22.0 to 25.0 million. Earnings per share (EPS) are expected to be somewhat weaker due to higher interest rate expenses and increases in overall spending, and are now expected to be in the range of 0.01 to 0.02.
Clean Technology
Our Cleantech segment continues to perform to expectations and our quote activity in the Cleantech segment has strengthened compared to prior years. We regard quote activity as an early indicator for future order activity. With a current order backlog of over $63 million, Xebec is emerging as a worldwide leader in biogas upgrading technology. We maintain our forecast that the Cleantech segment will grow 80 % to 100% in 2018, generating revenues of $16 million to $18 million.
Industrial Air & Gas Products
Xebec continues to push revenue growth in the Industrial Products Segment and we expect double digit organic revenue growth in 2018, up by 25% to 35% compared to last year. GM has been lower than expected but steps are in place to bring the gross margin back in line with guidance. We are already seeing an improvement in Q3/18. The first acquisition is on track to close in Q4/18. For the full year we expect revenues of $6.0 million to $6.5 million, and gross margins to move closer to our target range of 40%.
Guidance 2019
For 2019 Xebec expects growth and profitability to continue. Given the current order backlog of $65 million we expect revenues to increase to approx. $40 million, generating net income of $3 to $4 million ($0.05 to $0.07 per share) and EBITDA of $4 to $6 million.
A strong focus in 2019 will be on Xebec’s organizational development to allow the company to continue its successful growth in future years, while taking advantage of increasing short term opportunities in the Industrial and Cleantech market place.
As Xebec continues to grow, management is focused on balancing growth and profitability with the goal to maximize shareholder value.
2018 Third Quarter Financial Statements and Management’s Discussion and Analysis
The complete financial statements, notes to financial statements and Management’s Discussion and Analysis for the three-month and nine-month periods ended September 30, 2018, are available on the Company’s Website at www.xebecinc.com or on the SEDAR Website at www.sedar.com
For more information:
Xebec Adsorption Inc.
Kurt Sorschak, President and Chief Executive Officer
ksorschak@xebecinc.com
Xebec Adsorption Inc
Xebec Adsorption Inc. is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Its customers range from small to multi-national corporations and governments looking to reduce their carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and manufactures innovative and transformative products, and has more than 1,500 customers worldwide. With two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America, Europe, and Asia, Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the company, its products and services, visit Xebec at xebecinc.com.
Looks like this will be another expensive lesson for those who invest blindly into a pinksheet stock.
Missing projections with every PR now.
Cant wait until the bottom line gets included in the 10Q.
The latest round of hype and swipe is going to sour a whole new swath of shareholders.
The pattern continues.
GLTA & JMO
GTEC Announces Multiple Retail Store Initiative in Vancouver BC
KELOWNA, BC, Nov. 7, 2018 /CNW/ - GTEC Holdings Ltd. (TSXV: GTEC) (OTC: GGTTF) ("GTEC" or the "Company") is pleased to announce that it has entered into a binding letter agreement (the "First Agreement") with a private British Columbia corporation ("AssetCo") to purchase the business assets of AssetCo (the "Acquisition"), which primarily consist of two cannabis dispensaries located in Vancouver, BC. AssetCo has ceased all operations and is currently in the process of converting the locations from municipally licensed medical cannabis retail stores, into Provincially licensed private non-medical cannabis retail stores.
GreenTec Holdings (CNW Group/GreenTec Holdings)
The Acquisition is subject to the following:
(i) the completion of due diligence by GTEC.
(ii) the successful assignment of municipal development permits for a cannabis retail store at each of the two locations.
(iii) the receipt of non-medical cannabis retail store licenses from the British Columbia Liquor and Cannabis Regulation Branch (the "LCRB").
Under the terms of the First Agreement, all the business assets of the AssetCo will be purchased by GreenTec Retail Ventures Inc., a wholly owned subsidiary of GTEC, for a total purchase price of CAD $5.5 million. The purchase price will be comprised of $1.5 million cash and $4 million by way of issuance of GTEC common shares at a 10-day volume weighted average price ("VWAP").
Additionally, GTEC has entered into a binding letter agreement (the "Second Agreement") with a society created pursuant to the laws of British Columbia ("SocietyCo") to purchase all the assets of SocietyCo, which consist primarily of one medical cannabis dispensary, and a medical cannabis consulting clinic, both of which are located in Vancouver, BC. SocietyCo has ceased all operations and is currently in the process of converting the location from a municipally licensed medical cannabis retail store into a Provincially licensed private non-medical cannabis retail store.
Pursuant to the Second Agreement, GTEC has agreed to issue such number of common shares (the "Milestone Shares") in the authorized capital of GTEC to the vendors of SocietyCo (calculated at a 10-day VWAP) in accordance with the following milestones:
$500,000 upon the entering into, or the assignment of, the lease for the cannabis dispensary;
$500,000 upon the transfer to GTEC of the municipal development permit for a cannabis retail store;
$500,000 upon the receipt of a license in the name of GTEC from the LCRB to operate a retail cannabis store; and
$500,000 upon the municipality granting the business licence suitable for a non-medical retail cannabis store in the name of GTEC.
The common shares issued pursuant to both binding letter agreements are subject to a four month and a day hold period from the date of issuance, in accordance with applicable Canadian securities laws.
"As GTEC evolves into a revenue generating company, the addition of these locations will complement our initiative to achieve market share, brand awareness and consumer loyalty within the premium segment of the market," said Norton Singhavon, Chairman & CEO of GTEC. "Upon successful Provincial licensing and completion of these acquisitions, this will place our retail footprint across all three Western Provinces- BC, Alberta and Saskatchewan, with an estimated 12 locations operational in 2018 and 30+ locations to be operational in Q1 of 2019."
Both acquisitions are subject to approval from the TSX Venture Exchange and are arm's length transactions which are expected to constitute Expedited Acquisitions pursuant to TSXV Policy 5.3 – Acquisitions and Disposition of Non-Cash Assets.
About GTEC
GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is a public corporation listed on the TSX Venture Exchange and based in Kelowna, British Columbia. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Grey Bruce Farms Incorporated, Zenalytic Laboratories Ltd., Alberta Craft Cannabis Inc. and Tumbleweed Farms Corp.
To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co.
Cant wait.
LOL
Looks like the markets is super excited. ;)
GLTA & JMO
Of course they are. *wink wink*
LOL
Cant wait for the 10Q.
I mean really..
GLTA & JMO
GTEC Signs Cannabis Extraction Agreement with Valens
KELOWNA, BC, Nov. 5, 2018 /CNW/ - GTEC Holdings Ltd. (TSXV: GTEC) (OTC:GGTTF) ("GTEC") is pleased to announce that it has entered into a cannabis extraction services agreement (the "Agreement") with Valens GroWorks Corp. (CSE: VGW) ("Valens").
Under the Agreement, GTEC will ship bulk quantities of dried cannabis to Valens for conversion into cannabis oil and value-added products. Valens will process the cannabis on a fee-for-service basis into crude, distillate or other cannabis oil derivatives.
"In mature cannabis markets, derivative products such as vape pens, edibles and infused beverages account for over half of all products sold at the consumer level. Over the coming years, we anticipate that the Canadian market will evolve to reflect a similar product mix," said Norton Singhavon, Chairman & CEO of GTEC Holdings. "This partnership provides GTEC with the ability to utilize Valens' IP, technology and expertise to immediately develop value added products as it builds out Spectre Labs. We are excited to commence this partnership, given our respective core competencies and the geographic proximity to our facilities, we view this as a well-suited and synergistic relationship."
"We are excited to announce another material agreement to support a great Canadian and local Okanagan industry peer in bringing high quality, cannabis derivatives to the market. This Agreement shows the start of a shift where companies are beginning to understand the demand and supply shortage for oils and Valens' strategic position in that shift. We have been working diligently to ramp up our processing capacity to 156,000 kg per year by December of 2018 to support new Agreements such as this," says Tyler Robson, CEO of Valens.
About Valens GroWorks
Valens GroWorks Corp. is a research-driven, vertically integrated provider of Canadian cannabis company focused on downstream secondary extraction methodology, distillation and cannabinoid isolation and purification, with three wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech ("VAL") holds a license to cultivate and produce oil as a Licensed Producer ("LP") under the ACMPR, and a Dealer's License under Health Canada. VAL also has a supply agreement with Canopy Growth Corporation under their extensive CraftGrow distribution network. Subsidiary Valens Labs is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant Based Science. Subsidiary Valens Farms is in the process of becoming a purpose-built facility in compliance with European Union (EU) Good Manufacturing Practices (GMP) standards, ensuring the product from this facility can be exported anywhere in the world where Cannabis is nationally legal for medical or adult usage purposes. For more information, please visit http://valensgroworks.com. The Company's investor deck can be found specifically at http://valensgroworks.com/investors/
About GTEC
GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is a public corporation listed on the TSX Venture Exchange and based in Kelowna, British Columbia. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Alberta Craft Cannabis Inc. Grey Bruce Farms Inc., Tumbleweed Farms Corp., Zenalytic Laboratories Ltd., and Spectre Labs Inc.
Dump dump paint.
DUMP DUMP paint.
Its dead money in Pinkyland.
And this stock exists just to let insiders dilute and pay themselves.
The 10Q should be another rude awakening, but shareholders will try and spin all the negative somehow while they hold all the way down to trip zeros .. AGAIN.
The 10K will be even worse. And the auditors will likely need to be changed.
Better out with a loss than a tombstone.
GLTA & JMO
Ouch.
GLTA & JMO
Sounds like they are going to miss on projections again.
And are moving the goal posts.
Carrot dangling for the last 3 years while eroding shareholder value kinda gets boring after a while.
Might explain why nobody is interested in buying this dog; it just wont hunt.
Better out with a loss than a tombstone.
GLTA & JMO
OH just wait until tax loss selling really kicks in.
Another nightmare before xmas cometh.
>$10/share by some time in the first quarter of 2019, by May for sure.
Ya. LOTS OF NEW EYES * wink wink *
Less than $1K in trade volume.
Must be a mad dash to buy shares.
LMAO.
How are those 1 on 1 calls going?
New lows coming..
I cant even make this stuff up.
GLTA & JMO
Its just the same desperate attempts to keep the PPS from going trip zero as before.
PUMP>DUMP>DUMP
One on one calls must really be going over well with all this volume.
LOL
Ponder and Hayter are drooling with every BID over ZERO.
GLTA & JMO
How are all those one on one calls going?
LOL
Cant wait for the next Q.
Should be another rude awakening for whoever is left.
GLTA & JMO
Funny how they always blame someone else for the poor performance of the stock and unrelenting losses to shareholders.
Maybe not so funny for those who are stuck under the overhang of dark management and massive dilution.
Same old pattern, same old story.
The smart money has left the building.
And soon the building will be demolished.
GLTA & JMO
'Mispriced' pot stock Hexo looks to NYSE to boost profile
Hexo Corp., a cannabis producer that’s flown under the radar of the pot-stock frenzy, is looking to the Big Apple to get a little more attention.
Hexo is following better known rivals such as Canopy Growth Corp. and Aurora Cannabis Inc. to list shares on the New York Stock Exchange in December. The Gatineau, Quebec-based company, which sees itself as a potential takeover target as it ramps up partnerships with food and cosmetics companies, is betting the listing will attract more global investors.
“It should help tell Hexo’s story as one of the world’s biggest cannabis products makers,” Chief Executive Officer Sebastien St-Louis said in a phone interview. “In five years there may be four global cannabis companies and whether Hexo is a buyer or a seller on that journey, what matters to us is for our shareholders to participate in that to become one of the four.”
With a market value of about $1.1 billion, Hexo is dwarfed by rivals like Canopy and Tilray Inc., which are more than 10 times larger. St-Louis argues the company deserves a higher valuation given its supply contract with the Quebec government, and its joint-venture with Molson Coors Brewing Co. to develop pot-infused beverages. The supply deal with Canada’s second-most populous province is valued at about $1 billion.
In September, investor Riposte Capital published a letter criticizing the company’s “severely depressed valuation,” urging it to consider four options that include selling at a premium or going private.
“The fundamentals for Hexo are incredibly robust and that cannot be said for the majority of their peers,” Khaled Beydoun, Riposte’s managing partner, said in an interview this month. “When you take the fundamentals, and you look at the valuation, the resulting conclusion is there is a huge mispricing.”
Investors have been dumping the shares since Canada legalized pot on Oct. 17, concerned that the surge leading up to legalization left them overpriced. The BI Canada Cannabis Competitive Peers index tumbled 23 per cent between then and Friday’s close. Hexo is the 10th-best performer in the Horizons Marijuana Life Sciences index this year, with a gain of 42 per cent.
St-Louis shrugged off the market volatility, saying some investors cashed in after the steep increase of the past few months. He also said that a lot of Riposte’s suggestions made sense to increase the company’s value -- a change of tone from seven months ago, when his stated goal was to emulate Alimentation Couche-Tard Inc. The convenience-store giant has been gobbling up rivals at home and abroad.
Accept Offer
“It’s certain that if someone comes and offers a 150 per cent premium tomorrow, we are for sale,” said St-Louis, who co-founded the company five years ago and has a stake of almost 2 per cent, according to data compiled by Bloomberg.
St-Louis expects investors to take stock of Hexo’s strengths with its upcoming earnings reports, which will reflect sales in its home province. The five-year supply contract gives it about a third of the legal recreational market.
The company reported revenue of $1.4 million for the quarter ended July 31. Unlike Canopy or Aurora, it doesn’t hold a call with analysts to discuss earnings.
Since a sale could happen “next month or in 10 years,” St-Louis says he’s focused on setting up more joint ventures with partners that could later buy Hexo. Adding patents on cannabis-infused products will make the company more attractive, he said.
“If we keep innovating and adding better products, better ways to consume cannabis without smoking, that intellectual property will keep increasing our value,” he said. “At some point, whether it comes from one of these partners, or from another cannabis company, it’s bound to happen that Hexo will consider an offer.”
The back door replacement of mvtg
The lies that Mantra would continue
The purchase of the two worst subs from the dubious ICLD
The obvious lack of performance of those subs
The tripling of the original AS when Ponder took over
The giving up of Ponder And Hayter’s common stock for Preferreds to maintain unfettered control of SGSI
(No one else was given that opportunity by the way)
The obvious reverse split of all OS which then ensued but leaving AS intact setting the stage for MASSIVE dilution of shares and stockholder value!
There is your evidence in full view.
Now the question begs to be asked:
why such denial?” Hummmm???
YEP.
Cant even break above .003x pre-split.
Lower lows and lower highs.
Wait til the dumping really begins.. but first they need volume and they cant even get that.
The market never forgets when insiders victimize shareholders and then pull a MASSIVE reverse split.
GLTA & JMO
Lower highs and lower lows just keeps haunting this stock.
Not even the 200:1 Reverse Split could change that.
LOL
I feel sorry for everyone trapped in this investment quagmire.
GLTA & JMO
Looks like more dumping.
BID got cratered again. Then the paintjob.
Like I said, DESPERATE AF!
I cant even make this stuff up.
GLTA & JMO
Sounds desperate AF!
LOL
I cant even make this stuff up.
GLTA & JMO
Dilution is going to be rampant.
They cant even afford to keep the lights on without it.
Losing $1M per month? For what?
LOL
I cant even make this stuff up.
GLTA & JMO
LOL.
OOPS. Looks like they are missing on their own projections.. AGAIN.
But dont worry. They will be uplisting in Q1 2019. *wink wink*
Not sure with what money or how they will meet the prereqs.. but dont let the facts get in the way of a good hype n swipe.
The market is telling everyone what the reality is.
NO VOLUME. HUGE SPREAD.
The REVERSE SPLIT put this one in the grave.
GLTA & JMO
GTEC Holdings Finalizes Agreement with F-20 to Develop 194,000 sq. ft. Indoor Cultivation Facility
KELOWNA, BC, Oct. 25, 2018 /CNW/ - GTEC Holdings Ltd. (TSXV: GTEC) (OTC: GGTTF) ("GTEC" or the "Company") is pleased to announce that it has entered into a Definitive Agreement with F-20 Developments Corp. ("F-20") (the "Agreement") pursuant to the terms of the previously announced binding letter of intent dated July 10, 2018.
GreenTec Holdings (CNW Group/GreenTec Holdings)
In connection with the transaction, the Parties have established a joint venture company 3PL Ventures Inc. ("3PL"), where pursuant to the shareholders' agreement, F-20 shall own 51% of the issued and outstanding Common Shares on a fully diluted basis, whereas GTEC shall own 49% of 3PL.
GTEC, through a wholly owned operational subsidiary will apply for, and transfer to 3PL, such licenses to allow 3PL to become a Health Canada Licensed Producer (the "Production Facility"). 3PL will also make an application for a Dealer's License under the Narcotics Control Act or such other license to enable 3PL to import and export cannabis and cannabis products to and from Canada. Upon GTEC successfully completing a License Transfer Agreement, F-20 shall be obligated to sell to GTEC an additional 1% of 3PL.
"Canada's cannabis supply shortage has been caused by an uptick in demand that can be attributed to legalization last week. The shortages experienced in Provinces across Canada create an opportunity for GTEC and our partners," said Norton Singhavon, Chairman and CEO of GTEC. "With this joint venture, GTEC will be operating over 120,000 sq ft. of cultivation space once construction is completed. Initial feedback from consumers and Provincial supply chains is validating the demand for premium craft cannabis in Canada and internationally – a demand that this increased capacity will allow us to serve."
On July 11th, 2018 the Parties had announced the Production Facility would have an initial phase operation size of 60,000 sq. ft. with a second phase of 180,000 sq. ft, totaling a completed operation size of 240,000 sq. ft. Upon completion of the final architectural designs, the Parties have determined the Production Facility would allow for a 134,000 sq. ft. second phase without applying for a variance. For an aggregate operation size of roughly 194,000 sq. ft. Subject to 3PL pursuing a variance, and furthermore, the respective municipality approving the application, the Company remains confident in a 180,000 sq. ft. second phase, maintaining an aggregate size of 240,000 sq. ft.
In consideration of F-20 entering into the Shareholders' Agreement, and the services to be provided by F-20 pursuant to the terms therein, GTEC has agreed to issue such number of Common Shares (the "Consideration Shares") in the authorized capital of GTEC to F-20 (calculated at a 10-day Volume Weighted Average Trading Price) in accordance with the following milestones:
such number of Consideration Shares with an aggregate GTEC Share Value of $1,250,000.00 upon the full execution of legally binding agreements;
such number of Consideration Shares with an aggregate GTEC Share Value of $416,666.67 upon the issuance of a building permit by the respective Municipality in respect to the improvements to the Production Facility, in accordance with the requisite building plans and specifications;
such number of Consideration Shares with an aggregate GTEC Share Value of $416,666.67 upon the substantial completion of the Production Facility, in accordance with the requisite building plans and specifications, for the purposes of submitting an evidence package to Health Canada including, without limitation, installation of equipment required by Health Canada, security system, storage areas, and HVAC ("Substantial Completion"); and
such number of Consideration Shares with an aggregate GTEC Share Value of $416,666.67 upon Health Canada confirming there are no deficiencies with respect to the Production Facility including construction thereof and security systems therefor.
Notwithstanding the above, one hundred percent (100%) of the Consideration Shares contemplated above will be issued to F-20 upon either of the following events:
F-20 funding 3PL by way of a shareholder loan of at least $5,000,000 and 3PL having expended at least $5,000,000 in respect of the construction of a Production Facility; or
if GTEC fails to submit a final evidence package to Health Canada addressing all deficiencies with respect to the Production Facility within ninety (90) days of Substantial Completion.
The Agreement is subject to approval by the TSX Venture Exchange.
About F-20
F-20 is a privately held British Columbia corporation whose principals have been involved in the financing, construction, and development of licensed cannabis cultivation facilities in Canada and the U.S.
About GTEC
GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is a public corporation listed on the TSX Venture Exchange and based in Kelowna, British Columbia. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities. GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Grey Bruce Farms Inc., Zenalytic Laboratories Ltd., Falcon Ridge Naturals Ltd., Alberta Craft Cannabis Inc. and Tumbleweed Farms Corp. To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co.
On behalf of the board,
Norton Singhavon
Founder, Chairman & CEO
778-760-8288
ns@gtec.co
Michael Blady
Co-Founder & Vice President
604-720-3474
mb@gtec.co
Umm. Thats what they have been doing for 4 years now.
BUT.. there have only been cascading new lows. SO SAD.
Better to prepare for tax loss selling and a new 52 week low.
And equities sliding.. penny stocks like SGSI will get hammered as people take their high risk $$ off the table.
Believe it.
GLTA & JMO
.OOPS
Looks like someone dumped 11K shares - (2.2M presplit) on to the bid.
LOL
And did you hear AT&T just dropped on earnings? They may see a pullback in capex. *wink wink*
SGSI seems to be working over longs. Gotta keep the dream alive!
I feel sorry for anyone who slapped the ASK today and got taken for an instant 40%.
Pinksheets are a cesspool.
GLTA & JMO
BID just evaporated.
0.24 / 0.5889
Look out below folks.
GLTA & JMO
Just wait til the next dump.
I bet the "shorts" will be sooooo burned.
LMAO.
Then they may have something in common with the longs.
I cant even make this stuff up.
GLTA & JMO
LOL.
I don't know about you but I haven't sold any at a loss yet!
So I guess everyone is officially underwater now.
.35 is .00175 pre-split
Yikes.
200:1 reverses are never a great thing in pinkyland.
GLTA & JMO
Suuuuuure.
Keep the fable alive!
Tomorrow could see another new 52 week low.
GLTA & JMO