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Too bad they choose to dilute their shareholders...
Easy come, Easy go. Back down we go.
There's no way to value this company anywhere near $5.50/share. This company is taking on incredible debt with no way to make money except borrow, sell shares cheap, or sell property. There is still only one tenant signed up for this Massachusetts dream. What's in the pipeline after that? I guess I must have read a different 10K filing.
Agreed. I should have sold my shares last week. I need to digest the rest of this garbage 10K after I swallow down the puke in my mouth...
I do see some of the more shady market makers showing up on the level 2. 10Q filing should be coming soon.
easy come, Easy go. I fail to see how California's green rush has any impact on ACAN. ACAN has nothing in the pipeline except MMCC and we can all see how that's going for them.
It's many, many pounds per week that won't be grown in an ACAN facility regardless if it's for medical or recreational. We at least know that much. I don't know how many growers there are in Massachusetts, but it seems none of them are waiting around for ACAN to build a "state of the art" facility.
137,000 SF cultivation and processing facility going to be built in New Bedford now. I'm sure we'll hear how insignificant this is and how ACAN is in a grand position with their high tech facility (that may or may not ever be built)
We've all seen this movie before... It's hard to get excited knowing the track record of this company and all the false promises they've made in the past. I'll get excited when I see a structure being built on site...
I believe you just hit the nail on the head. 1 million sf by 2019 isn't possible and ACAN knows that. The infrastructure to support that isn't anywhere near ready. I've seen the site....
It appears ACAN will have some competition in Freetown (see southcoasttoday.com). Another company wants to cultivate and have a dispensary in Freetown. Only one dispensary is going to be allowed in Freetown and I'll bet it won't be and ACAN affiliated company. This company just can't execute any of the things they claim to be experts in. Their claim to fame is loaning out $2 million and actually being paid back with interest. Big deal.
Tim's quoted comments at the summit didn't make me feel any better about the future. Seems investors are tough to come buy and it's hurting. That's what I got from it
Not really what I wanted to hear but just as I have suspected. This is all still just a big pipe dream. 30K SF is nothing. They only have one tenant (Tim's dispensary) who still doesn't have a license to sell. I feel this project is many years away, if ever. It's certainly not "shovel ready" as has been claimed previously.
Thanks for the enlightening information. I was trying to figure out what the hold up was. They have a $10 mill investment and $800K loan and still have no cash to get going. And some are claiming "construction is about to commence"...
10q not as impressive as some have suggested it would be. Building up debt is about all I see here. H.I.D grow lighting will be a thing of the past. Hope they're working on L.E.D products or they will be gone.
10q as impressive as some have suggested it would be. Building up debt is about all I see here. H.I.D grow lighting will be a thing of the past. Hope they're working on L.E.D products or they will be gone.
If ACAN has had this much trouble getting 30K SF up and running, It's very difficult to believe 1 million SF is within their reach. I don't believe they are any where near ready to build that kind of facility so they can't possibly be in position to capitalize on the 2018 demand at $6,200/lb.
I would like nothing more than to have ACAN corner the market for cultivation facilities but, I think they are still many years away from 1 million SF and the market will continue on without it, even if it's in converted warehouses. It seems warehouses can be completed much quicker than a greenhouses.
50,000SF cultivation and processing facility being built in the next city over from where the MMCC facility was supposed to go... That's not good for ACAN. I wouldn't be surprised if MMCC never happens. Kind of like the other projects ACAN claimed were going to happen (Illinois, Colorado. Anyone else see a pattern here?
Going to zero!
There are lots of cultivation warehouses being built in Massachusetts. I know of none using SLTK lights. Way too expensive still.
I very skeptical of this reasoning. The funding announcement was almost 2 months ago. If they had started at the end of September, they easily could have foundations in before the winter sets in. It's only 30,000SF. I have a feeling their project isn't as "ready to build" as they've claimed. Given the track record of never building anything, I remain skeptical
Can anyone explain why construction has not started on any project this company claims to be involved with? Colorado, nothing. Illinois, nothing. Massachusetts, nothing. I'm thinking nobody wants the facilities these guys are dreaming up. There's plenty of legitimate companies building facilities in Massachusetts and yet ACAN only has one "preferred partner" interested in this pipe dream. I'm seriously doubting this ever gets off the ground.
I believe they absolutely could have built a 30,000 SF greenhouse in 7 months if the project was actually shovel ready. It's not the same as an building an actual structure. Greenhouses are pre-fab and are practically modular. They've now been sitting on their hands even with financing in place. In the meantime, there are cultivation facilities being built in the state that are much larger than 30,000SF. I've been hopeful for a long time. Probably too long at this point.
They were supposed to break ground on MMCC last spring... I don't see any reason to believe anything will happen this spring either. They haven't ever broken ground on anything. Just a lot of false hope to get people to part with their money.
I don't think anyone should lose sight of the fact that this company has never had any of their projects built.
I wonder when ACAN will put the $10 million to work... Still nothing going on at MMCC.
Same old story for this one. Easy come, easy go. As if this thing wasn't going to tank like it always does....
Lots of pumpers here. Watch this thing tank tomorrow like it does every time it rises
This stock is nothing but pumps and dumps. It's been going on for months. This company can't even report properly, hence the cease trade order. The CEO/CFO/Secretary/Janitor guy is simply ripping off investors in my opinion
This company and CEO appears to be a big fraud.
Why hasn't there been any mention of a legitimate ground breaking date? Maybe the project isn't really "ready to build"?
Moving towards winter. I guess we won't see any actual construction until next spring.... Moving right along at a snails pace.
I hope this company's sales teams are trying to get into the Massachusetts cannabis market. There's plenty of growth opportunity. It would be a shame if they didn't talk with Americann
Yahoo! $10 million coming in. All aboard
Is there any legitimate reason to own this stock
Couldn't agree more. Everyone who has invested in the MJ industry is well aware of the growth potential. The trick is to find a company who isn't just about ripping off investors. I have a feeling this company knew they had no chance of building a multi-million dollar greenhouse in Massachusetts. Labor is expensive and utilities are expensive. Way too expensive for a company earning $10,000 per month with three employees all making $100K+ per year and no new revenue in the pipeline. A Youtube video about the MJ market potential does nothing to convince me ACAN will ever get off the ground.
Well, there has been some loose stone dumped on the site and spread at the entrance where the trailer is. Maybe that's $638,000 they've spent on what the 10Q is calling "construction in progress"... In the meantime, other companies are building actual infrastructure for growing cannabis.
I was hoping for a bright spot in the report somewhere since the CEO & CFO seemingly have nothing to say about their lack of execution. I certainly didn't find a bright spot in that trash heap... I doubt any of their sites will ever be built.
What to make of this company not being able to report on time...
The latest 10Q report just came out and says otherwise.... Deeper losses, no revenue, growing concerns.... I just need to cut my losses and move on already. I was hoping for some good news but it's getting more grim IMO. Check it out www.otcmarkets.com/stock/ACAN/filings
The pumpers are dumping! No revenue, no building