They had multiple prototypes/mock ups back in the day - I saw one. I was and still am interested in the promise of that technology. It works and has been commercialized at smaller scale. He had a patent but there were other similar patents. As far as I know no one has commercialized a product at the full bore CT scale he prototyped even now.

Anyway the CEO made fraudulent statements about the multiple FDA submissions.

There will forever be speculation about what went wrong. I personally think Janes went into this overconfident, assuming his experience getting equipment approved under much simple circumstances would apply to this. (Which was way wrong.). Between that bad error in judgement and the sparkle of investor money he went to the dark side.

The post you originally replied to was sarcastic. Buying and selling shares doesn’t work like making offers on eBay or calling someone on Craigslist.

Anyway try tdameritrade or etrade never had any problems with either of those when I started out.

I appreciate the cheap shares too thanks.

https://fintel.io/doc/sec-gpft-8k-grapefruit-usa-2020-august-01-18477

Yeah ok.

The 8k about the agreement with Zylö was posted.

http://m.digitaljournal.com/pr/4754613

This has been discussed on this very board in the not so distant past. Reading is fundamental, even for the self-proclaimed science geniuses with trillions of posts.

The tech is from Zylo Therapeutics. Everyone clear on that? Or should we gloss over it like the last time and then ask the same question a hundred posts from now.

Check out the CEO. Check out the history of that CEO. Read some of the papers. Scratch your head and wonder what it all means. Go back to the t-shirt business. Or to digging a ditch. Or learning how to read.

Annoying argument two: ohhhhh, the FDA is going to piss in this company's cheerios. This will be subject to fuckety fuck regulations. Bahhhhhhhh! NO ONE will give a flying fuck about this when people can inhale, ingest, vape, gargle, snort, smear, roll around in, or play with MJ however the hell they want to. NO ONE. That cat is way out of the bag, across the street, and lying in the neighbor's yard getting baked.

So let's review:

The old version of this company, the one that provoked so much bitterness, had a product which never got anywhere and a CEO who got into a bunch of trouble for unethical behavior.

After waddling around in the muck for a few years, the ticker got sold by a clever new CEO, and bought by a new company in a different industry.

That company also got stuck with a lot of clean up which appears to be cleaned up.

That company, like ALL otc companies, has done a capital deal. Some of you will hate that deal, some like me will hold my nose and take a deal. Without rice you can't cook; but some of that rice definitely stinks.


Whether or not this ticker finally get's off the ground, I don't know. But the constant undercurrent of "it's all a giant scam, none of it is real" is tiresome.

At this point it's a little company doing a little distro business and that has an interesting new product. I don't give a rat's ass about some twit selling jelly bellies or the latest vape cartridge with the party vibe no-one cares about. The market is saturated with that shit already. They should give that crap up IMO.

This company is basically about two things at this point.

Wholesale production and distribution of plants and distillates.

This product which may hold a competitive advantage at least for a while.

It's all about market forces and SG+A now.

This is absolutely fascinating, the most interesting posts on this board in ages. Please keep us updated on your experience thanks!

If I remember correctly it was because of a regulatory issue... not compliance but something about making sure their license went through ok. I’m hazy on the detail but it’s in one of the recent filings.

They suspended sales for at least a quarter... that was in a previous filing. Theoretically they are selling again now.

Wrong.

Nanoparticles are not new.
Thc is not new and is being legalized for all kinds of purposes and with all kinds of delivery mechanisms.
Thc patches are on the market already.
Cbd is even bigger and in the mainstream market and would be another target agent.
Vape pens with all of the recent issues are still on the market.

The FDA won’t give two shits about this.

Doesn’t mean it will be successful but this will be the least of the issues.

I actually don’t know... I’ll try to find out.

It’s a five day extension. After months with a known auditor, I’m wondering if this is more about cleaning up receivables...

It was either in a press release or filing. I will try to relocate and post. The link below is her employment contract. Her company was a client to get compliant.

The contract is consistent with the information I read.

https://www.sec.gov/Archives/edgar/data/1205181/000149315219011145/ex10-7.htm

Yes what about the elephant in the room?

I’m not a mindless pumper of this stock but I’m not willing to bash a management team that is brand new to me.
Especially not on some shoddy DD. The company has yet to prove itself. It may turn out to be a total bust, but to call it fraudulent right off the bat without any proof is not fair.

Anyway I’ve done my own DD thanks. I’m posting some of my findings but again, for anyone reading this, you can find a lot of good information (most of which actually hasn’t been discussed on the boards) if you know where to look. Now on to yours...

You conveniently ignored the fact that the city website and the developer’s site are in agreement. Which obliterated your argument that the permitting was falsely represented. It took about 5 minutes to look that up. Hey thanks for acknowledging that point, very big of you.

It took another 5 minutes to find the rental agreement attached to the s-1 which identifies the parcel. Which btw is described as an incubator site and is to include lab space.

You conveniently ignored that I stated the sight is obviously under construction and will plainly take years to build out. But parcel 33 appears to have mobile structures on it which actually would be completely fine for a small volatile extraction facility out in the desert. (Thanks bro in law with PhD in biochemistry. Oh also thanks me for doing a site visit. But before anyone asks NO I didn’t just walk into their facility. I guess that makes me part of the conspiracy yayyyyyyy.)

If you spend 5 more minutes you will find pix of their equipment and extract - but of course you can claim that’s all part of the fraud. Whatever.

It may take a weeeee bit longer but if you look you will find information about their production capacity, supply chain, sales partners and so on.

I find the company promising but untested. A lot of promising early stage companies go belly up. It’s penny land - huge risks.

Finally kudos to you on your wonderfully old school sexist remarks about Kim Contreras. That was refreshingly nostalgic...in the same way that stale cigars, 4 inch thick steaks, fine Corinthian leather, the smell of Wild Turkey and and mustard gas are refreshing. Say what you will about the IG account - I’m not a fan of these sorts of things but I follow precisely because you get a grain of information now and then.

Oh and she also founded sugarstoned which GBI took over.

Good luck with your DD.

READ minutes of DD:

1. The coachillin master plan which is conveniently linked on their website specifically states individual conditional use permits are not necessary within their project.

2. Coachillin and Kenny Dickerson are listed on the pdf posted from the City.

3. GBI is on parcel 33 and the rental agreement is with the S-1.

4. Coachillin will plainly take years to buildout.

5. Parcel 33 appears to have modular structures on it. There are greenhouses on other parts of the property that are clearly up. But yes, it is a desert ... as in Desert Hot Springs. I believe Dr. Robb’s is being built now. Per one of the recent news updates, GBI actually owns part of a second parcel adjacent to the existing one which they plan to expand into. Of course if you believe it’s all fishy, you will not believe that statement. Personally I take everything an early stage company says as well meaning plans - hope it happens, but might not.

6. The reviews for sugarstoned are mostly old and there is old stock out there. I know because I bought some which actually wasn’t half bad imo. There is also counterfeit product out there too. That said there are some new reviews and there is a new presence on weedmaps. There are dispensaries that advertise this product as well.

7. The VP for sugarstoned does do a lot of IG that is true. On occasion... rare occasion... she will post an update or have a live feed and give an update on sugarstoned.

8. And finally, for those who look carefully, there is actually A TON of information out there about this company’s recent activities.

https://grnfunds.com/
Worth reading.

https://www.globenewswire.com/news-release/2019/08/19/1903386/0/en/Imaging3-Inc-Grapefruit-Announces-Closing-of-the-Second-Auctus-Tranche-of-1-400-000-of-New-Working-Capital-for-Grapefruit.html

More news today.

Exactly right.... they released a clarifying statement which everyone should read. It also addresses the name change.

Agreed looks much better.. well done mods!

Great point.... at a minimum if mods could at least update the page with GBI information. There is a lot out there at this point.

It should have financials.

There isn’t any new information here - people have misunderstood the purpose of the filing. Anyway my hunch is the price drifts in this territory until the S-1 comes out.

Some folks should consider index funds, savings bonds....maybe a nice CD. Stuff like that.

Just sayin’.

Speaking of which I made my first purchase of their branded edible product .... I figured why not, I’m invested. The packaging is nice, haven’t tried the goodies yet.

For what it’s worth I think their edible brand geographic expansion seems to be happening. I’m in northern Cali and saw the product up here. They’ve made progress building the website too and you can YouTube reviews of the edibles.

I’m hopeful for a PR or call soon; I’d also like to hear what is happening to the scanner.

Does anyone have a sense of the acreage GBI either leases or has the rights too?

There are some clues on their IG page but I’m curious if anyone investigated this.

This.

Things I’m looking forward to:

1. Closing. I’m really curious about the structure of the imaging subsidiary.
2. current revenue from GBI and the super 8k.
3. Whether they are going after additional financing.
4, resumption of work on the 510k. Longs will remember the spike this stock took with relatively weak submissions years ago.

Um no. The press releases have been a breath of fresh air. Signing the agreement, locating financing... these have all pretty much been in line with the prior press releases.

Anyone who has bought real estate knows closing on those relatively simple transactions gets pushed all the time. This transaction is far more complex and we are up against a holiday which is always tough. I think that’s all he is saying.

I have dry powder in case anyone wants to cash out.

Wowzers! I think we have a new winner in terms of longevity! Nd and I are
pretty close, Mike I know you’re up there but gb you seem to be in a different league.

Anyway I agree about the tech - I’m in the field. The CEO seems to be a decent human being and scrappy too. I think this play is a nice fit for his experience. He’s been in biotech and in the canna space. I’ve corresponded with others on the leadership team, including the scientific advisory board. They seemed genuinely excited but also upfront about the impossibility of moving forward without a clear path financially.

For those who care about these things, no this is not a simple minded pump message. You can look at my posting history and in addition, when I was the mod, I placed information up top so folks could familiarize themselves with the tech. It works, there are applications out there (though mostly not for the whole body) and the FDA seems like they are finally ready to look at this for a wider use.

The company has already validated the software core with a reputable consultant. The hardware validation comes next and my guess is that they will want to upgrade some of the equipment first. (I personally am looking forward to imaging using modern equipment.) With that done, assuming they pass, the only thing left is to wrap up the formal application and submit. They have good firms committed to both of these steps.

If they close this deal we will hopefully start seeing the R&D budget start going up again quickly. Connecting this to cannabis, which is still in the growth phase, is sharp. We just have to see what kind of revenue GBI has been generating. For a tantalizing clue, people can look at GBI’s IG page at the extraction products. Then look up the going wholesale prices for distillates.... it’s a bit like guessing how many jellybeans are in the jar except the jellybeans are literally liquid gold.

Amen. I’ve turned gray in the time I’ve held this stock.

They are referring to post acquisition igng - before they change the name of the ticker. GBI is responsible for the funding though I’m sure they are getting help.

One of the early emails quoted GBI as having received favorable terms from investors. My guess is they are negotiating as hard as possible to secure this financing without giving too much away.

The publically traded company will be held by GBI with I3 as an owned subsidiary. I believe the shares will all be under the same ticker (IGNG until they change the name).

Not quite sure how you arrived at this number for the float....

Thanks for this message Mike, it brought up a lot of memories. (Not all of them good.) Those days were exciting and here we are again. Yep, like everyone I have questions about how this deal is being structured but I'm very willing to wait and see. I actually have a fair bit of experience with both industries...heh.

Good luck, fingers crossed.

Yep I know it. You and I are probably the only ones left from wayyyyyyy back.

I never did bet the house on this though I’ve got a nice bundle of shares. Might as well see it through. This ticker is like an old itchy sweater. I’ve worn it for so long I have trouble tossing it away even though it isn’t always that comfy.

If this deal gets done and the thing pops I’ve got enough to pay off that house and buy me some new sweaters!

In theory it is cheaper and with a lot less red tape.

In practice it isn’t always cheaper, it depends on the ticker. Some shells are set up and maintained expressly for this purpose. That’s not the case here as once upon a time imaging3 was a company with actual products and revenue. Anyway in general it is significantly faster than doing an IPO.

What imaging3 has of value now is the ticker, the tech and still a fair bit of interest out there both for the merger and the tech. That’s IMO of course.... I’ve been in this for many, many years and got in because of the tech.

I’m staying in because the merger intrigues me and believe it or not I stillllll think the tech has promise.

Making some bucks off the cannabis craze wouldn’t hurt either.

https://www.kesq.com/news/large-scale-cannabis-cultivation-facility-opens-in-desert-hot-springs/100747581

A nice article about the canna business park. Glta.

News

I thought that too but somewhere on their site it explains they have x thousand square feet of greenhouse space. Maybe they are doing both.

The point being they were in on the ground floor of a much larger operation.

https://coachillin.com

While people are waiting, the business park where GBI is set up posted a nice update recently.

Looking at GBI’s website and instagram, it seems like a fair number of the greenhouses are theirs. They have the extraction facility too. The founder of the business park did an interview not long ago and specifically stated how important and difficult it is to get the correct licenses in Cali.

Fingers crossed.....