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Not much of an idea on this one, sorry. I didn't realize how much the press and every corner of the internet is pounding the Organigram lawsuit BS. It could become old news tomorrow, or sit around and haunt us for weeks.
Short-term, it doesn't matter that it's a sleazy quick cash grab suit. It doesn't matter that the contamination issue is completely overblown and HC has even essentially waived it off. What matters is it creates fear and weak hands.
It's time for an update or new news. Come on Mark. What do you have for us?
Something's going on. From a spread of 0.36-0.4 to 0.35-0.37 and then to 0.37-0.399 in about 15 minutes, meanwhile stuck at 0.37 the entire time?
What charts or DD are you basing this off of? Any medium or short-term momentum indicators and averages are quite bullish.
If some scandalous news comes out or we learn that the doctor is hit by a bus, then sure, this can crash anywhere. Aside from that, I'm going off the previous patterns and looking for a return to mid-0.04's, which sure seems to have a higher probability than returning to 0.02 in the short-term. Long-term, that's a much wider topic.
Lots of breathing room still exists between 0.03 and 0.04 IMO.
Let's see a few more. Need more than $100 here, $150 there to drive this higher right?
Thanks to those that keep posting their interactions with Dr. Otiko. This is one factor I've used to determine whether or not putting my money on the table here is worth the time.
Don't take this the wrong way, folks. I have not personally spoken to the doctor by phone or email yet. I can't speak to his character, whether positive or negative. But his online reputation seems solid and much more importantly, he appears to be very responsive and somewhat easy to get a hold of. He also appears to be willing to follow up and stay in tune with rumors and investor sentiment out there.
Why is that important? Again, let me emphasize, I'm not judging the guy or his products, technology, revenue potential, etc. with this point alone, as those topics are a different set of fundamentals entirely. But even if the patents and speculation of future proprietary value wind up turning into total crap, the doctor's active approach has a significant chance of driving this higher in the coming months. He communicates and he seems to have every interest in driving excitement.
Long-term revenue or buyout potential? It's nice to look at that as icing on the cake. That's how I look at all this anyway.
Good luck everyone.
Looks like we might be able to mark the bottom at $2.15 (about $1.60 for ORGMF), but too early to call.
Good action. The pattern appears to continue. Series of 9 days, and on that 9th or 10th day, we see the next pop. I'm in at 0.039.
Anyone else watching charts and seeing a return to about mid-0.04 today? That's the confirmation we need.
The vultures are circling and it makes everyone nervous. At this point, I'm not so much worried about the lawsuit. As we discussed here yesterday, the events described in the complaint don't indicate that pesticide contamination directly causing harm is their primary angle. This is just a quick cash grab.
I'm more worried about the long term reputation of the brand. I wouldn't like to think it's trashed beyond all repair, but how are we to know in this industry right now? It's a market with some consumer preferences and behaviors that are quite obscure.
I may be able to help out a little later today. Got my eyes on some other movers, and not sure what funds will be tied up when all is said and done. It won't be much, but still a punch to the 3's.
Finished in the 3's. Hey, I'll take it. Looks like it's going to take news to run anywhere though.
Great points there.
I just threw "cannabinoid hyperemesis syndrome" in the search engine, and here's what popped up in first place:
Right. Too many holes in the complaints and the extended timeline of events. This is presented in a way that tries to paint Ms. Downton as a victim of the pesticide contamination without any evidence. Instead, if you really follow the events, she sounds a bit negligent IMO.
Going back to II. 22 - 24:
A legal shark found some low hanging fruit and reached for it. I've read through the notice of action that was just filed, and here's a couple interesting points. It's not like the plaintiff has a case to go for Organigram's jugular. See this from the filing:
Ok, so 500M O/S is some sort of speculation on your part? Still not understanding how you came up with that future estimate.
I'll go on what's reported on OTC Markets, which is 309M. Or, since I prefer to be conservative when calculating valuation of penny stocks and considering a 1-2 year time frame, assume about 400M, which is reported A/S.
Been sideline watching for a while, wondering if we were going to drift lower to 0.028-0.03 as well. Marking that level as support.
I'm seeing 309M O/S as of March 1, 2017 and 400M A/S. Where are you finding 500M O/S?
Hello 2M buy at the 2's. Next up, 3's...
The chart is a curious one here. Patterns of 2 days with a heavy-hitter pop, and then 9 days of a slow bleed. Rinse and repeat.
Who am I to ignore patterns? I'll be looking to get in today or tomorrow. Maybe we slide a little further down to 0.03 and then it's time for another home run?
A typical ambulance chaser looking for his 10 seconds of fame.
For anyone interested in the story:
http://www.news957.com/local/2017/02/28/local-law-firm-file-class-action-lawsuit-tainted-marijuana/
Is today the day we see the 4's on this sucker bet?
Can't hurt to cross fingers I guess. Good luck all!
Yes. A bunch of MJ industry trackers dropped Abattis completely in 2015, so I'm also pleased to see small victories like this that help put them back on the radar.
For the most part, I like this stock at 0.12, and part of the struggle is trying to determine if the rebound upwards is still a couple months out. It's still conceivable that this returns to the 0.12 range in March.
Watching and waiting :)
Agree. I like the transition too.
Hey, at least the newspaper articles they reference are perfectly relevant to their industry :)
I'll be more worried when Abattis starts releasing PR's about things like marshmallow factories and space exploration.
Well, I got what I wanted - CSE:ATT resumed trading. Just didn't expect a tower of cards to come falling down with it. Was hoping for a much better EOW. Better luck next week, folks.
Great points and overview on HC requirements for starting materials. This is an older, archived (8/24/16) bulletin on the HC site for those that want it straight from the horse's mouth to confirm:
To Licensed Producers of Marijuana for Medical Purposes
The purpose of this information bulletin is to identify the two ways under the Marihuana for Medical Purposes Regulations (MMPR) that licensed producers can obtain starting materials for the production of marijuana for medical purposes. These are:
1. Importation from a legal foreign source of marijuana seeds or marijuana plants; and
-> And yes, you must receive a permit from HC first and then retain records of your transactions in this case (GBR)
2. Marijuana plants and/or seeds obtained from a producer who holds a license under the MMPR
Maybe some of you out there have more experience with the consequences and movement of one exchange when another is temporarily halted, so your insight would be much appreciated here.
This makes zero sense to me. CSE: ATT is halted, so the OTC (U.S.) equivalent, ATTBF, explodes almost to the high 0.20's. Finally, after waiting around for Abattis to get its act together with the financials, our beards long and gray, the CSE halt is lifted... and this damn thing crashes back to exact same 0.10-0.11 levels we saw before the halt.
The whole thing is starting to smell like S-C-A-M to me. At least, there appears to be some dirty work going on behind the scenes.
Geez, sure seems like followers and sideliners have had enough. PR met with crickets chirping. No action. Not even a temporary revisit to 0.003.
I take it you meant "halted" there :)
And then, yes I agree. It'll be quite disappointing if it's not up and running by the end of this week. It's already taken far too long.
Interesting news. I think I might sideline this one for a bit longer. It's turning into a longer-term study and I feel like I'll have the opportunity to buy on more dips. That rush to about 0.30 was overdone.
I see this going to 0.40-0.50 (USD) eventually, just based on typical industry hype alone. Let's face it, you feel at least close to the same way, and that's why you're still holding down in this same grimy trenches with me.
If Abattis is actually able to accomplish something worthwhile, perhaps a $1.00+ then. It's hard to speculate on that, because past management has been an absolute dud, and I don't know if they're going to use the NV license for more than just a test shop to say "See? We can make a couple $1000s in revenue!"
Don't think so. Really hope the suspension is lifted by Friday.
Should be interesting. I'll try to stay tuned in.
Glad to see this recovered from that ridiculous dive to end yesterday's trading. Needs a push back to $2.70's.
Nice recovery from the 14's, I'll give it that. Let's see if we've found a bottom.
And which of those other 18 test locations are scheduled to be up and running in the next 6 weeks like NV?
Right, sit tight and wait for the music to begin playing. Then, hopefully, we dance....
I know he couldn't be very specific, but did the CEO give you any hints in that direction?
Reverse merger would be hilarious.... not to mention rocket fuel for us.
Oh I won't disagree with you there. Not a fan of this website design and not particularly impressed with the company for that matter. But just maybe someone will be wandering through the KRSNA MINERALS mines, trip over a shiny object, discover the real long lost Ark of the Covenant, sell it to a private collector for $5 billion, and ICBU investors will all be rich.