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Has anyone seen or have an official news release from Namaste on Seans firing? Anything I have found is from some media source. Their website has nothing, just the letter from Meni.
The retraction is by a news outlet not Namaste.
Williamtrout; I am thinking that it was something that took a while to find. They wouldn't have resigned him if they new this two months ago. My guess is it was hidden very well.
Of coarse this is all from a bunch of people who have no idea but our imaginations.
Time will solve this and maybe we will know the truth. Or it will just quietly go away.
So the old US assets now called Lifted Innovations is trying to go public. I am beginning to think that this is not a coincidence that Seans gets booted to the curb around the same time.
Sean is being accuse of benefiting from this deal personally. Selling the assets for cheep to old employees is not the problem. The deal was passed by the board and had to be done quickly. Aurora did a similar thing with their US division. The employees split off and took it over. They payed what they got for the assets to the share holders in the form of shares of Australia's.
They obviously feel that Sean has somehow stayed involved in the ownership of this company. Or got a kick back in some way or form. Not Namaste but him "personally". The sale of the assets was done in the open and audited several times.
This is all about him personally benefiting and so the company has done the proper thing and separated themselves from him.
I doubt they would do this without proof.
Sean sounds like a desperate man. He is power hungry, not someone you want running your company. He would be wise to step back and just get rich of his shares. 20 mil shares at ten bucks. I think I could retire on that.
In a few years he could be selling purses in the Bahamas just for fun.
No one likes a rudderless ship. It is nice to know that it is buisness as usual. My take from this week is that we have ousted a CEO for cause and put an interm one in place who is intelligent and has a lot invested in this company. Good week!
This is why you need to know what you are invested in and ignore the noise. I have no time to bounce in and out. I work for a living.
Congrats to those who had the balls to sell and buy back lower. If you bought back lower !
I just love all of the doom and gloom on here. Yes people the sky is falling. I asked Namaste about Pineapple Express, I wanted to be sure that they have the right to purchase controlling interests. The answer was yes.
If Sean had of cared about the company he would have stepped down. He says his big concern is the shareholders. I think not.
Drew5; Sean was really upset that 420 when he let the cat out of the bag about Shopify's restrictions. They were set locked and loaded to start importing oils. It was the beginning of the end for Sean. So they either have to get separate from Shopify or sell to them. Their sales would have shyrocked if they had oils. Oils are a very big part of the medical side.
If shopify takes over and absorbs us I will take my money and move on. I am looking for a company with big growth potential. Not sure Shopify is for me.
Shopify makes a lot of sense. That they would be interested in Namaste. Does it make sense for Namaste is the question. We know they want Pineapple Express and are starting to use them.
If Namaste develops their own platform separate from Shopify then why would it benefit them to sell to shopify?
Now if shopify was to buy us out yet leave Namaste as a separate company, solely for medical marijuana then it could be good for both companies and very good for us as shareholders. Shopify could stop selling anything pot related and transfer it to Cannmart.
Just spitballing.
Scout72; That is solid info and worth posting.
Some of the spin on Namastes release are laughable. Even James West suggested to Sean that the review on the company's value looked like they didn't know how to proceed and were just preparing to sell. That is not what their release says. They say that they had someone "Express interest in buying them". They also said that this does not mean that they will sell. It would be wise to know its value,right?
As far as statements here on this board that they have burned through all their cash, you are just fear mongering.
Sean seemed very composed and I felt he had a set agenda. The Andrew Left acusations have floated over this company like a large black cloud. This entire case is because of things that were said by Left. The US courts could play with that for years.
If the courts find Sean guilty then that would be very bad. But if a Canadian court finds in his favor then would that not bring the Left crap to a complete end?
There have been numerous audits done and nothing was found . It's time the truth came out.
36 mil shares moved so far this week.
Jgiles; I agree. PE alone has enough potential to be a massive winner. Add in the tech side plus Cannmart and Buds2go. Not to mention all of the supply agreements.
Way too much value. I stay put for the long haul.
This company is perfectly set up for someone to take them global.
This is a classic power struggle. No one fights over companies that are worthless.
It will however effect the SP price for a while.
Drew5; I just hope they take their time if sell at all. Get November financial's out and announce the new store. No rush.
Jgauze; It is hard to evaluate the tech side. It would be nice to find out what the new store is all about. It is supposed to be rolled out in February or soon after. Now if the new store is their own platform and it separates them from Shopify then the price could skyrocket.
Drew5; Their site has the Totem. It is out of stock but says it will be restocked soon?
Rodgerdodger; Are you sure? Do we know who grabbed up 28 mil shares over the last two days. :)
Regarding Sean. They have expanded and brought in new talent since the sale of US assets. The new board members have all been given shares as part of their salaries. Thus the none cash compensation that we see in the financials. This makes the new talent vested in the company but also gives them votes and a say in the future direction.
Sean is singing the blews so we can now be sure that this was by no means an amicable seperation.
I wonder if he was selling his shares in December for tax reasons or to pay for a good lawyer. This started in October.
Close to 23 mil shares changed hands today.
Greenwillow; I don't think these things "playout" I think they are planned out. Every scenario was more than likely discussed before the announcement was made. That's why I wonder who is buying it up.
I never invested in Sean I invested in Namaste. I have been increasing my investment as they have continued to execute in a very impressive way. I expect that to continue.
Scout72; When their is blood in the water the sharks always show up. You know that.
I see so much potential in this company and like you I think this is actually positive news but the price may get beat up for a while. My shares are in my long term portfolio and will stay there. The way this was done is intriguing. It could be a house cleaning in preparation for a big investor. Either way nothing changes for me.
I would still like to know who is grabbing those shares. This is the perfect environment for an aggressive takeover.
I would like to know who is buying up the shares as fast possible. Companies that are interested in purchasing Namaste may be grabbing shares for peanuts.
I wonder how long it will be before the ones who are selling realize this was a good thing? This is all from something that happened in 2017. The company has executed everything they set out to do since then. Sean will pay dearly for what he is accused of but the company will survive. They have tons of cash to help get through this.
Please correct me if I am wrong. It appears that rather then buying Access Fulfiment they are making a deal to just purchase their lisence. Saving a chunk of cash.
I see they are still shaking the tree this morning. Cannmart is seeing continual little updates.
Solid interview. Keep in mind that Shopify will not let them sell products from outside of Canada. They are gathering the connections for product supply now they need their own platform separate from Shopify. I think that is very close and once in place there will be very little to stop them.
It would be nice to see slow steady increase as we head towards revenues.
It is interesting that the government is looking for someone to do same day delivery. Maybe Cannmart is killing it and slowly building its clientele. Maybe they are hurting their competition because of their service.
I am betting that we are going to see substantial revs. We are also waiting to see what the new store is all about.The one that Cannmart customers were emailed about.
Steady controlled execution of the plan.
Will this last?
According to shortdata as of Jan 16 there was 28 mil shorts against this thing again. We will see what next week brings. Will they cover or just push it back down?
Rprimo; I have no problem if it is identified as old news but I see the approach of posting old articles as though they were today's news used a lot by bashers and pumpers. People who are investing in companies should have done their research and know what their putting money into.
I know YOU are not doing that. I just see too much of that done and I guess it bugs me. No offense ment.
Lol , it's more interesting to watch and see if they can figure it out on their own.
September to November numbers will be very interesting to see.
December to February will be the show me months. If there is solid pot sales to go with the rest we will be looking at 75 to 100 mil year. If they get oils on the site then all bets are off
Why are people posting old news?
Thesilverbear; Who's in a rush? :)
I think we will see little moves as we head towards the year end financial's. Maybe an announcement about a new store or a supply agreement for CBD oil will give it a bump.
We are at the show me stage with all of the pot stocks. So it should be.
Those of us who are long on this are betting that they become very successful. Years from now.
The manipulation is only bad when you aren't day trading. As long as you can wait it is actually to our benefit. They will eventually drive this baby up and when it goes it could run big.
A lack of store fronts in Ontario will benefit who?
Once Cannmart has oils their will be no stopping this. If this was a bad company they wouldn't be manipulating it.
There is defiantly something up in Edmonton. Both Sean and Kory have been kicking around there. Maybe they are trying to get a deal with Radiant to produce oils for them. Infinite Labs are still a ways off. Maybe they are looking at that technology for Infinite Labs. Aurora is focussing on the European markets right now. Maybe they want to get in with Namaste on the UK deal. Aurora built all their green houses with the GMP certification.
It could be lots of things. Maybe they are just shopping at the mall. :)