Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Understood, Sirius. That's Securities Law 101. My point is that when a company says "soon" for a year or more and the only thing that happens is vague PR releases that prompt a short-lived bump in the pps, one has to wonder whether "soon" really means "as soon as I've made enough money on the hype."
Me, too, Tommy. I called the Suzie Q's fiasco last year and the pumpers attacked like piranhas - guess they've given up trying to make excuses for the $300k/yr CEO who doesn't know how to execute on anything. Anybody planning a wake for this company? I'll bring a bottle of Ripple.
Sorta depends on what "soon" means, doesn't it? Almost all the answers to the questions you asked the CEO were "soon." Going back over the posts on this board over the last year - particularly from the CEO and the pumpers - the common thread is "soon." One has to wonder whether "soon" is the new "maybe."
WTF happened? You have been away for a while, ryn. Let's see...CanMed, Suzie Q's, Seattle Green Care, Pop's Medibles, Iggy Azalea, Soligen. Those happened. Then, of course, there was the reverse split, two auditors resigned, no current financials since last year. That happened, too. And then, PMCM paid our CEO, DM, over $300K last year to manage all of that while he generated nothing but losses and racked up more debt.
If you're as unhappy with DM as your post indicates, all you can do is .... get in line!
I understand about coming current with SEC financials, but what filings could we expect to see with the state?
What filings are you expecting (or hoping) to see $P?
Where are Clariske and Golden Goosey? I miss them!
WK - don't forget the Iggy Azalea deal! That was going to send PMCM to the moon! Turned out that PMCM didn't bother to do any vetting on the "contract" with Iggy's "manager." Remember him - Hefe Wine? That great deal ended up costing the shareholders $100k in legal fees just to get Iggy to agree that PMCM could throw in the towel and walk away with its tail between its legs.
Yup - MJ a bust; Music a bust; What's next? Solar energy with a company in Canada? Read the LOI on that one - its a laugher. PMCM promises to spin it off as a new subsidiary and then raise $5,200,000 within 120 days? Spin off - wasn't that what PMCM was going to do with the entire entertainment division last Fall?
You can't make this stuff up - it comes right out of PMCM's 10K. Reads like a horror story. Oh...forgot...PMCM "withdrew" that 10K because the auditor wrote to the SEC and said he never signed off on it.
Scratching my head trying to figure out just what PMCM actually has done in the last 18 months - beside borrow money to pay our CEO's salary.
Thanks $P. I was scratching my head. Now that I understand, I'm scratching my head even more. 1000%? Really? Hope you're right, but its going to take something concrete happening rather than vague PR releases.
Rigorous - "finalized" isn't in PMCM's lexicon. Consider: Suzie Q - PMCM invested $30k, never followed through and it closed down five months ago. Now PMCM is facing a $600k back taxes claim from the Washington Dept. of Revenue. Seattle Green Care - the "top Seattle delivery service" - deal closed last September and PMCM did nothing and now its closed down as well. Remember "Pop's Medibles" in San Francisco? PMCM announced it had acquired 51% many months ago. Apparently its closed down, too. And then there was CANMED - the Canadian deal that was going to grow thousands of acres of MJ - that was a year ago and what has happened? ZERO. The reality is that PMCM does not execute on ANYTHING - except paying its CEO's salary - $300k in 2014.
Thanks, Warren for the clarification on the reporting requirements. What's the situation with PMCM? It "withdrew" its 10K annual report because the auditor claimed it had been filed without his consent. No new 10K has been filed in six weeks even though PMCM announced that there would be "revisions" to the withdrawn 10K and a "revised 10K" filed. Now PMCM has announced that its 10Q will be late. Seems like there hasn't been a financial statement released that PMCM stands behind since the beginning of the year. Any consequences?
Anybody know what "10 bagga" means?
Great story, Prof. Unfortunately I can list a dozen pennies that made MJ announcements, people bought on the announcement and then the PPS dropped like a rock when there was no execution. All those who bought on the announcement lost out when there was no execution. I hope this one is different. But I'm not sinking money in on an announcement with no detail and no timing.
Hard to get excited about announcements that have no details. Waiting to hear what the MJ plan is before I jump in here. Too many pennies have made vague announcements about getting into the MJ space and then not executed. PR is ok - execution is what drives a stock in the days after an announcement.
What's the plan for the new "Marijuana Division"? Anybody have any insight? So many small caps have made these kinds of announcements only to go nowhere and then collapse. If there's a good plan, the MJ play could be the biggest of all. Everything depends on execution, though, not PRs.
.5? You're kidding, right? You mean .00005?
Say goodnight Gracie.....001 just around the corner.
Everybody see today's 8-k filing? Seems that the Auditor who quit has informed the SEC that he didn't sign the 10K annual report that PMCM filed with the SEC with the Auditor's name on it. The Auditor says he told PMCM on August 6th that he couldn't complete the 10 K. But it got filed anyway with his name on it? Hmmm.....raises a lot of interesting issues.
Who's laughing...who's crying? Comparing the most recent PR on this one with the 10K only leaves you those two alternatives. The PR talks about PMCM's active subsidiaries in the MMJ business. But look at the 10K. No "subsidiaries" at all in the MMJ business and no business, either!
Suzie Q's - lots of hype, purchased assets in July 2014 and then what? Disputes with Jessica Vance, settlement agreement in December and in the 10K we learn that even the settlement agreement was reneged on because the Washington Department of Revenue is coming after PMCM for $600,000 in unpaid Suzie Q taxes. How much revenue earned from Suzie Q's since July, 2014? Not a dime. Suzie Q's has been closed for months and they don't even answer the phone.
Seattle Green Care delivery service - PMCM bought the assets of this thriving MMJ delivery service in August, 2014. What did management do with it? Nothing. PMCM closed it up right after they bought it and they aren't answering the phone, either. How much revenue reported for 2014? Nothing.
And how much did the shareholders pay management in 2014 for these great bold moves for the shareholders? DM was paid $301,000 in compensation in 2014. Are you laughing or crying?
No opinions here, just facts. Read the 10K.
Don't miss the 10K just filed. Not surprising that its not listed on any of PMCM's PR announcements!!
Anybody still wondering about the wonderful expansion into the Washington State MMJ business? Check out the footnotes and subsequent events in the 10K. The great Suzie Q acquisition resulted in a settlement agreement with Jessica Vance - DM agreed to pay her a further $8k and give her 25,000,000 shares of PMCM. But DM reneged on that because the Washington State Dept. of Revenue has assessed PMCM $600,000 in unpaid sales taxes from Suzie Q's past operations!! Whoops! What a smart investment that was! Revenues from the Suzie Q's operation during 2014? ZERO.
Nothing has come of the acquisition of the delivery service - Seattle Green Care. Acquired in August and revenues from that one? ZERO.
Any other deals happen in Washington State by this pos? ZERO.
Suzie Q has been around since 2010. Seattle Green Care has been around since 2011. That part is true, Finckus. But post here a copy of any "medical marijuana distributors license" as Float claims is available from the State of Washington (or the City of Seattle). If you live in Washington and have been to any of the 300 dispensaries in Seattle then you know that not one of them has such a license since they don't exist and never have.
As investors, we have the right to know the truth. Don't be fooled, folks, by the pumpers and liars who post nonsense here. Let's evaluate this stock based on true, factual information, not made up cr*p from idiots who just want to try to get us to buy more stock.
No Doc..its called reality. Look around you. There are multitudes of angry, bitter, unhappy investors who - like me - listened to the ".05 by January" BS and the PRs that turned out to be fantasy. Ad hominem attacks are always the refuge of those with nothing left to say - by this point you should either put up or shut up. What news, Doc? What is it that is going to propel this stock to .05? Those of us who bought into this thing when you were touting it months ago are eager for something truthful.
Love doesn't tank, Doc. And it doesn't cost anything. Those of us who bought into this stock during the lovefest aren't feeling all warm and fuzzy and your unsupported claim of .05 by January isn't adding anything good to the mix. Are you the only pumper left here? At least the other pumpers gave solid facts - even if those facts were complete bs.
You buying, Doc? The shorts will love you!
What news, Doc? Help us out here - what "acquisitions"? No fear here, just basic realism based on facts.
What "company news"? Enlighten us, Dr. Inquiring minds are looking for some reason to hang on here.
Unfortunately true, Small Cap. I bought into this one on the "news" that they had these deals going for two 30,000 sq. ft. grows. Sadly, I didn't do my DD ....and it would have been pretty simple. 5,000 tons a year was the promise. Do the math. At current Washington wholesale prices that would be $44 million in revenue annually. I didn't stop to ask myself why any other better funded REAL public company didn't do this. It wasn't until months after I bought into this that I started to ask myself some real basic questions. For example - no banks in Washington state will accept MMJ companies for accounts. What the hell would PMCM do with $44 million IN CASH??? Try getting your auditors to generate an audited financial statement reflecting that you have $44 million in cash in shoeboxes.
Bob - solid, thoughtful questions. I've been trying to tease out some REALITY on this one for months. I believe in the MMJ sector - and I was stupid enough to read the press releases and put money in here months ago on nothing but the hype in the press releases. I wish someone had something concrete and real to share about this stock, instead of the pumpers who seem to be the only ones left. Oh, wait - there are the perennial optimists, too. That's the really sad part about this discussion group.
From 9/10 - "Congrats"!!!!
In case you followed Float's advice on September 10th:
"Anyone who does not Load this week may miss their chance, IMO GLTY!"
For those who didn't load up at 17, 15, 12, or lower per Float's urgings, congratulate yourselves. But be careful....6 may not be the bottom here no matter what astoundingly good (but unspecified) news Float may say is coming any day now.
So this isn't the LOADING ZONE??? Come on Float - help us out here.
Where's Floatable???? Miss his "LOADING ZONE" posts every time this puppy drops. At 6 I expected him to be pumping again. Float - where are you, man?
Pending?? What's pending?
koko - smoke & mirrors. If you want to keep holding, just be sure that you hold your nose, too. Or, you could listen to the pumpers like Float and load up here!! lol The shorts will love you if you buy now!
Hey Float - is THIS the bottom??? lol
12 is the bottom, no secret. 13 held and we tapped 12. Loading Zone, IMO!!!
You've been calling the bottom since this thing was at .0017. Everytime you call the bottom and scream "Loading Zone" it drops some more. The pumping doesn't seem to be working. How about today? .0007.....is THIS the bottom? Should we be loading up here or wait for .0001? Come on, man - give us your opinion since you've been so right so far! lol Hope you shorted this puppy while you were telling everyone else to load up!
Suzie Q's is a disaster waiting for the announcement. I read Suzie Q's blog, too. On August 5th she says she fired the old contractor (who supposedly had been working for months) and hired the new one. Here we are a month and a half later and she's announcing that she just made her first payment to the new contractor and the NEW contractor is starting to work. Is that the kind of management you applaud? Ask your friends in Seattle to take a drive past Suzie Q's - its a disaster. If you're holding long waiting for Suzie Q's to bail this stock out, you're in for as big a disappointment as you got this week with Iggy. Just my opinion, but mark my words.
Anybody want to know the truth? Here's the link to the Seattle Times article which reports on the Seattle City Council's actions ten days ago. Read it carefully if you want to understand that Suzie Qs is a medical marijuana dispensary and there is no type of "license" or "permit" available from the City of Seattle or anybody else in Washington State. Like all of the 250 or so medical marijuana dispensaries in Seattle, Suzie Q's is operating without any kind of "license" or "permit" to grow or sell medical marijuana - the reason is simple....no such thing exists.
http://blogs.seattletimes.com/pot/2014/09/02/seattle-city-council-unanimously-approves-medical-marijuana-extension/
Note that the Seattle Times and the Seattle City Council both state clearly that medical marijuana businesses in the State of Washington exist "unlicensed and unregulated."
You guys remind me of the famous Groucho Marx line...."Who you gonna believe? Me or your lying eyes?"
Shame on you Ray!! Its not nice to lie to the good people who have invested in this stock based on false and misleading PRs.
Here's an article from the Seattle Times dated September 2, 2014 which reports that the Seattle City Council just amended an ordinance allowing medical marijuana businesses to continue to operate unregulated and unlicensed in the City of Seattle through 2015.
Like so many, you keep confusing the issuance of Recreational marijuana licenses by the State of Washington with medical marijuana for which there are no licenses and no regulation by the City of Seattle or anyone else. Are you a pumper, ill-informed or just ignorant? Either way shame on you for lying to these people.
The Seattle City Council unanimously approved an extension Tuesday for medical pot businesses that would allow them to continue to operate after Jan. 1, 2015, the current deadline for businesses to obtain a state-issued license and comply with Seattle code.
All nine council members approved the bill, which pushes the deadline for compliance to either July 1, 2015 or Jan. 1, 2016, depending on the state Legislature’s actions on medical marijuana this legislative session.
Last October, the council voted to allow medical marijuana businesses opened before Nov. 16, 2013 to continue until the end of this year with the expectation the state would address medical marijuana laws.
But last session, the state Legislature failed to reconcile medical marijuana businesses with its new legal system. This left medical marijuana businesses unlicensed and largely unregulated. With just one state-licensed recreational store open in Seattle and little supply on the market, their products continue to be in high demand for patients with authorization cards.
Simmons - you've been smoking too much of your product. You're confusing medical marijuana with recreational marijuana. See the Seattle Times article published September 2d - I'm posting it in my reply to Ray. By the way, its spelled dispensary not dispenceray. Frankly, I don't believe for a second that you ever worked in one because if you did you'd know the difference.
What Moedeeluv? What? Please tell us what wonderful, huge things are they working on. The stock is tanking - why aren't they telling us what they're working on?
Ray - make some calls. Do some DD. If you call the City of Seattle you will find that this statement which you quoted regarding Suzie Qs is bogus:
"The assets purchases consist of permits and licenses issued by the City of Seattle for the cultivation and sale of medical cannabis..."
Neither the City of Seattle nor the State of Washington issue any kind of "permit" or "license" to cultivate or sell medical cannabis. Medical marijuana has never had any kind of permit or license available anywhere in the State of Washington - MMJ has been completely unregulated in Washington and remains so. Make the call and confirm this for yourself. There are hundreds of MMJ dispensaries and growers in the State of Washington and not one of them has any kind of "permit" or "license" to do so - they don't exist. Ten minutes is all it takes and you'll see that these PRs are seriously wrong.