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Believe it or not, I can remember when imaging 3 was once on the NASDAQ. The stock price fell below the minimum and they dropped them.”
I don’t think so...they did uplist within tiers of the OTC but not the NASDAQ.
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If businesses were all classified as scams because of ugly things in their past, the DOW would collapse tomorrow, the lights would go off and we’d be back to being farmers in no time flat.”
Ummm...In the exchanges outside of the OTC you have minimum financial metrics that need to be maintained. Scams usually don’t make it that far in the Nasdaq or other major exchanges as they can never produce the sales and market cap to get up listed. Not so true for the OTC especially the lower tiers. The reality is whether Imaging 3 is called a scam or continuously money loosing venture...it really matters little. The OTC is filled with con artists waiting to separate investors from their money. The failure rate for these companies is high double digits.
DvIS was more like a college experiment pawned off as a ready viable product...which is not necessarily a scam but pretty close.. especially if you examine what the FDA concluded as to imagery. Besides, Medtronic owned that market with the “breakaway” c-arm and could throw millions in R&D at that market. Management used money intended for R&D for personal enrichment and to spend lavishly on trade shows when there were no position to sell anything except paper.
Fair enough!
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Are we going to tar the "Y Brothers" with the Dean Janes brush just because of the sins of the past?”
I’m not tar and feathering anyone. It just doesn’t make sense to do a reverse acquisition to be an OTC penny stock. They need financing to the tune of 10-20M so why would they want to attach themselves to a burned out shell that screwed thousands of investors? Again a question of logical thinking. As far as DJ you know he still owns a majority of the pre acquisition shares. He didn’t suddenly give those up.
The proto that supposedly was the next generation was held hostage by the engineering company for lack of payment. Never heard a word after that. The blue beast as we called it was the one and only.
Wrong only made $ on imaging3 but it was completely luck as a family member requested I buy some on her behalf and it was later willed to me. After reviewing the disclosures and the company’s idiotic Money Tv spots with old huckster Don Ballargeron, it was a very simple call to spot the deception and slippery management.
Let gets the facts straight shall we...Dean janes the founder and CEO of imaging3 used misrepresentation to keep his company afloat for a decade . He was sanctioned by the SEC years ago and removed as CEO and banned from being an officer of any public company. He poured tons of public money into his facility which he owned and even stiffed the design company who designed the company outrageous peninsula style trade show booth which highlighted the companies incomplete untested product that could not pass the smell test. The company made several failed tries to get it through FDA clearance. Finally after the last FDA NSE response he lied again and was exposed.
Many of these operation spiff up their facilities...it’s not their money they are burning!
Didn’t say it was an outright scam but one must assume it’s another gimmick product until black hits the bottom line. The question is if it’s so good why roll the dice with a small undercapitalized company financed by convertibles and have yet to turn into a viable cash generating business? Green thumb has 200 M in cash. I wonder what deal they would be offered.
Dude...I’ve seen this many times before. The GPFT sizzle is way more enticing then the actual steak. When the celebration and condemnation starts way before the goods hit the market that its likely just another dog with fleas.
No personal attack. It’s a clear fact that the Y brothers make more in salaries than the entire up front multi year licensing fees for the supposed game changing application. If you like to refute that then let’s hear it.
“Grapefruit paid the Patent holder $5,000.00 and issued it 100,000 shares of IGNG common stock on execution of the MOU. When the parties reach a formal license agreement Grapefruit shall pay the Patent Holder $50,000.00 in two installments of $25,000.00 each and shall issue 1,000,000 shares of IGNG common stock to the Patent Holder. Grapefruit will have 8 months from the actual technology transfer to commercialize the first ‘patchless patches” and shall pay a decreasing royalty of between 4 and 7% of revenues to the Patent Holder depending on the level of revenue achieved.”
So this alleged disruptive game changing tech gets licensed to (Ca,IL) granted for only 2.5 years for only 55k cash and approx 40k in stock!!!haha haha!!!!! The Yourist brothers make per year in salaries. So there goes the entire US exclusivity argument and confirms gpft is one many that will sign this agreement.
What IP is that? A licensee has no claim on the patent rights. They are licensing a delivery system that so far unproven in market. Now if gpft is claiming they adding some unknown methodology into the mix then it could be claimed. Until then it’s more smoke.
Oh..,like gpft is the only company that has cannabis licensing?? Please much larger fish in the sea that this nano cap.
But wait...it’s been repeated like a mantra that gpft “owns” the patent...oh but now they just have an exclusive distributorship.. check that... now it’s only for Cali and Canada with no terms, payments and time period released. Ha! Not so exclusive.
It’s not exclusive and there are stated territories and terms...which are conveniently redacted. The pharma owns the patent and would be stupid to only allow one operator to control 100% of US distribution. It’s standard penny stock sales puffery that hasn’t change with a new ticker.
Company infers it has patented this application which is not true. They are simply a licensee. These are fluff releases. They bought some blending and packaging equipment. Big whoop!
Ahhh....no gpft is not “making money” check the disclosures. Company has a negative cash flow and a gross margin that is paper thin. They also pay themselves well and do all kinds of financial engineering and have a bloated SG&A that befits an actual profitable company.
10% is a miserable margin and they would need to sell 20M a year just to cover the cost of operations. Did you see the redacted licensing agreement? It’s a page right out of the original imaging3 playbook. Ceo covered up the failures of the flagship product for years...until somebody released the FDA actual findings! Death spiral.
Dude. Gpft has a 100k in cash and is burning at least that much per month. 10% margin is still pathetic and company is not even doing the volume of a mid size single unit dispensary.
I love the redacted licensing doc that reveals no terms, no $ amounts or territory. Typical otc playbook. Sell the “Sizzle” before you buy the steak.
Get woke go broke
But wait I thought revs were going to be phenomenal??? lol!
No it wasn’t.
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They own the rights to the patent yes they do. Check back in the filings. “
Well that was wrong. Gpft does not own the IP by any stretch. The small pharma is the patent holder and is purportedly licensing out this tech to gpft for 100% of USA .All of this reported by gpft not Zylo therapeutics and no 8k accompanied any of it. If zylo has the nutflush for smokeless Thc delivery then they would be idiotic to get in bed with only one weak otc company years away from profitability... unless of course gpft forked over a giant chunk of change. I’ve seen the books and didn’t to see any 100M licensing fee.
The Q will be more of the same. Mounting losses and unsustainable cash combustion. COVID will come in handy and another excuse!
Dude the q will be dismal. You can bet on it. What excuse will be floated then Manipulation..whacking, slapping the bid, trolling posters!!
Ahhh that’s material it needs to be disclosed in a 8k which would include the licensing terms spelled out in a contract. If it’s not released, it’s just more word craft by the lawyer brothers as they try to pump before the 10q.
Dude these are just fluff sessions. The Q is out in 3 weeks so they need to pump heavy now to offset the disappointment of reality.
Actually it was my family member who bought imaging3 after I strongly advised against it. Needless to say the stock was pumped heavy and I insisted that all of (90%)shares get dumped all of it for a profit. So no it didn’t hurt my family at all but it did hurt lots of investors who believed the lies and deception and held on even as it breached $1.25 them reversed into nothingness.The same program is being run now.
Can’t wait to see the cash used in operations pile up and the net operating loss continue to widen. Also await the gloating of management on a job well done for selling a few bucket loads of whatever flowers or extracts it sells. Bottom line...is the bottom line. If CGS exceeds Sales there is only one result. Quickly or slowly they will bleed out.
Picasso like end of day paint job though....
How so? Last Q they had 391k in sales and the gross margin was -16%. Add expense and you get cash loss of 353k. Also even if they collect 100% of their A/R they would have only about 250k in cash. Not nearly enough.
It’s doesn’t matter what opportunists are doing in the short term . The numbers just don’t add up to support that “massive rev” theory. Gpft has a negative gross margins on its bulk sales. Add in SG&A and any real RD and it is pretty clear that this pink combusts cash at an increasing rate. Last Q cash reserves are getting low and if they continue to cook off 120k a month it will take 18M shares to keep operating for another q.
The Fat lady has been bellowing for 2 decades. The only value of Qsep is its ability by hook or crook to keep the lights on and maybe the NOL and corporate shell. I must admit it’s rather impressive skill but they are by no means the first otc company to do it. I wonder who the real
architect is for year after year money raising lifelines. It can’t be the current CFO who has just followed the same playbook.
Yep that’s the only thing left at this point.
Some people did some things.
Yeah when previous CEO alluded to the idea that the operator was getting antsy that pretty much said they wanted it gone. Apparently $500k doesn’t buy that much time on the “unnamed” pipeline. Any material contract would need to be disclosed and state terms and time period but old Qsep hid the details by classifying it as pipeline work order. Wtf?? Now I guess they can’t hide total failure. It begs the question why the company authorized spending $500k on this venture and didn’t think it material to disclose the contract terms as they did with TCP and KMI.
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That is not a good comparison. Yes a liquor store can generate consistent revenues. BUT THERE"S NOT GOING TO BE ANY CHANCE OF EXPLOSIVE GROWTH”
So it’s fine to tout gpft because they have “explosive potential for growth??? Sorry that is an absurd investment strategy...every public company has that potential. I might also add that a liquor store can open another location and than add wedding and catering services and guess what they grow! Little birds like big birds needs wings, feathers and skeletal structure to fly. So far gpft only has beak for tweeting.
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It’s clear they know what they are doing. They identified the problem area, and had a positive result after fixing the problem they identified. It proves we have a very qualified engineering team, that knows what they are doing on the AOT, and can identify problems and fix them.”
Not only are they crappy engineers but they been fiddling with the same issues since TCP. That’s 7 years! Notice the interim CEO didn’t release the info...watch as McMullen becomes the new figurehead to much fanfare. He is the only one left!!
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The update contains extremely good news. If the problem does reside in the power supply control module, the fix may be easy, quick, and entail little cost. That is a whole lot better than if the problem was with the AOT unit itself. “
Apparently all that “good news” didn’t work out very well.
Lol! That’s even funnier. Maybe they should pay the fabricator first has he had the prototype held hostage for lack of payment!