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It's all bad. They delayed the launch and they are still late. How can a company say their launch is end of 1st quarter and still have nothing in the second quarter be any good.
Wrong, they don't want to get out in the teens. Because there are no buyers, they have to wait and slowly get out a few thousand shares at a time. Volume has dried up completely because management has failed.
They are trying to push up the bid so they can sell their shares on the ask. They want out, but there are not buyers. So they have to try to keep pushing the bid up to get to the .40 range. There will be no upside movement until a product is out. They you will see a mass exodus when shareholders can finally get out without tanking the price.
Because they have a lot to sell and no one is buying. OTCX and CDELL have been selling a ton. They are not going to put all their shares up because if everyone knew how much they wanted to sell we would be back in the teens.
Their announcements came after CA lockdown. On Jan 26, 2021, the CEO stated they would launch the product, 120,000 units early March. This was after several delays. This is early MAY and still no product.
Management has missed the launch and their forecast. They are not good when they promise the launch of a product and miss the date multiple times. Long term, that is a poor investment when they have a history of missing their forecast.
No it is not all good. They failed again. Here they spend money to sponsor and event and they still have no product. They were on chat and someone asked for product and they replied another 2 weeks. Now we will be in the middle of May for a product that was supposed to launch in March. The reason there are no buyers is because we are now at the point where everyone is saying...you have a product? Well we will believe it when we see it and not until then. Management failed miserably which is why the stock is not going anywhere for a while. Failed failed failed. I have had two people in my circle that do nothing but invest. They are really interested in the cannabis opportunity but know nothing about it. BOTH of them turned away from KOAN due to the failed launch. I am embarrassed to even talk to any of my other investor circle just do to the horrible failures of the management team.
More posts of the announcements "coming soon". They have been "coming soon" for months.
With no buyers it does not matter. No product for at least two weeks. No revenues, no launch, total failure.
CDEL is in control today. Highest bid, Lowest Ask
not when management is failing so badly. They are now a month late on their multiple delayed fake launches.
Level 2 really shows how weak this launch has been. I was expecting much more from this team based on their resumes. They STILL have no product available for sale. I wonder how much money they have spent now promoting something that isn't even there.
we covered that several times. Not worth answering. would be up much higher if management didn't fail to launch when they did.
it was shareholders realizing management failed.
The problem has been management missing their projections. If they truly had a product launch in March, the price would be $1 by now. 2 weeks into March was when most traders realized they would miss the launch...again. It is not technicals, it is not trading, it all lies on the hands of management not doing the launch they promised. If they were any good at what they do, they would be in 50 of the top dispensaries, like they promised. They would have had pre sales going to market. If they had 120,000 units from China, as they said they had on January 26, and if they had sold those in the first month or when they promised the launch to now. They could have shown hundreds of thousands in revenue which would have sent this much higher. It is crazy to think it is anything different they management failing to achieve their stated goals.
1 bid at .35. CDEL is highest bid and lowest ask. They are controlling the price now because there are no buyers
The company protected themselves. If they had not paid the toxic notes, no of us would be here. They wouldn't have shareholders. They needed a particular price so they could raise capital for their pet project. They were not protecting the shareholders as much as they were protecting themselves.
It doesn't matter. If someone really wanted it, the bids would be in the .40's right now.
Wow, bids on level 2 have fallen through the floor. If they don't get this product out, like they promised for the last 6 months, we will go down to nothing. Management has completely failed.
well if 100 shares can move the stock price that easily, they there is a problem with the lack of buyers. If you have buyers, you cannot control a stock price with 100 shares
The buyers don't see the value in moving them up.
No, the company has given no reason for buyers to come to the table. I have had two buyers in my circle asking about it. They have both told me they will not buy until a product is on the shelf. Good thing they waited because this has dropped dramatically since the so called March Launch date. They are at the point where they probably won't invest anyway because management has done such a horrible job.
bids aren't getting filled because they are 30% below the ask.
Today's action shows no one has confidence in management or the product. Like bigfoot, there have been sightings of product, but no real proof.
all the bids are at .31 or lowers. No one wants in.
Most of the orders I have done in the past go through NITE. I have had a few go through ETRF. And no, I do not have any on the ask.
someone wants out. 100,000 ask a .43, that is not good. If they are going to announce something, they better do it quickly.
They have been finalizing announcements for 6 months
According to the podcast on January 26, they had 100,000 units ready for their launch. That is picture of about 100 that is next to worthless in revenues and STILL no products for sale. Nothing on the website or in dispensaries as they promised for January than 2nd quarter, then EARLY EARLY March now we are halfway through April and nothing.
The only thing they released was the Galley was going to MANUFACTURE their product. They still don't have anything on the shelves or on their website. From the sounds of the 10K, they are much farther off than they let on.
No product = no revenue = no buyers. That is the story of the day. Level 2 looks very weak.
Force Majeure was one of the hottest legal topics last year, that is why. There was too much gray area. Were contracts being breached because of a pandemic or a government shutdown? That is why the transactional attorneys had so much business last year. That was the hottest court topic. At any event, the CEO stated forecasts just a few months ago, JANUARY, and still has not followed through. I am amazed at how hardcore people are, or should I say programmed people are, at finding any possible excuse for management failure. They could come out tomorrow and tell everyone they are closing because the product fell through, stock goes down to trips, and shareholders are saying "hey, they got someone from Pixar". Good investment.
LOL okay, everyone is fired. I have never seen more excuses for failure. I have never worked for a company that allowed excuses for failure. Maybe I have just seen enough people fired for not doing their job that I learned not to make excuses, just get the job done. Only weak people miss forecasts and deadlines and they get fired if the company wants to do well. Excuses are like
LOLOLOL that is completely off. Breach of contract was the biggest problem during COVID and that was in the legal headlines ALL year last year. There is a little thing called "bad law". Basically what that means is if there was a law passed in 1980, everyone knows it is not black and white that is why there are trials. After so many trials, there will be mild changes to the original law to cover the gray area. So, if you go to court and present your case based on the law in 1980 without shepardizing the cases that followed that created changes to that law, you are presenting "bad law". So aside from that being inaccurate, the rest of the statement is speculative because vendors constantly go out of business for doing bad business. When ever they don't deliver, competition pops up because they know there are frustrated clients. There are never small companies that say deal with it, you don't have a lot of choices.
Exactly, corporate attorneys do what their clients want them to do. So, before signing a contract, you are not going to have several out clauses that will allow a vendor to fail at the deliverables for their client. There are attorneys on both sides. Maybe the attorneys that work for KOAN are to blame, either way, everything falls on the CEO for the failure to launch.
Well, who would invest in a company that does not have a product?
and the shareholders would have done better if they followed through with their forecasts.
And no corporate attorney would agree to those T's and C's. You would be redlined out of business. That is why there were so many regulations put in place, so this isn't the "wild west".
Look at what you just told me. Just because they have a product does not mean profits...well if you have NO product that there is 100% chance you will not have profits.
LOLOLOLOLOL, well anyone that has read any legal news understands the challenges those contracts had last year. What you just stated was a very basic Force Majeure which is in every contract. FYI Force Majeure goes back more than 50 years. SMH THE BIGGST LEGAL STORY OF 2020 for TRANSACTIONAL ATTORNEYS was the fact that Force Majeure did not include wording for pandemics and government shutdown. Why, because the government has never shut down the country and we haven't had a pandemic since Woodrow Wilson was president. SO the attorneys started drafting into their T's & C's...sigh, that would be Terms and Conditions, protections in cases of government shutdown due to the pandemic. As we all know this did not happen in China at the time the CEO stated he had 100,000 units being shipped from China. Sigh, I think I need to do a business 101 class so some people can understand what is going on here.