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I agree with you loyal, if he'd get it together and put stuff out in a timely manner you'd see an influx of investors. I got a couple of friends who are interested but don't want to touch it for that very reason. Reading the financials I can see why he doesn't have a couple accountants on board...to be blunt he can't afford it. I'm hoping once these deals start to progress and close out maybe we can convince him to make that a priority. Especially if he wants to up list to a larger index.
-Joe
Haas stated it in a response to a comment under their financial buzz post.
I strongly agree with you whopper. There are countless reasons to dilute. I worked for a small company that had to pay half my salary in shares because they were in a slow period. I also agree that some of the reasons they diluted haven't been as profitable as we'd all like but lets hope Haas has learned from those mistakes. Some of the most recent acquisitions like BioDynamics haven't had enough time to show us what they can do. I'll continue to buy the lows and sell the highs, but I will always keep a long term stockpile because I feel this company only has another 2-3 years before someone bigger comes in and buys us out. And on that day we'll all celebrate our riches!
It's hard to get people to understand there is good dilution and bad. Good- diluting to buy materials to build products that will turn a profit and potentially lead to a share buy back. Bad- renting a million dollar party boat with several hundred thousand $$ in booze. (I was invested in a company like this years ago) I think Haas is headed in the right direction and i agree he's stacking the authorized shares for a rainy day.
The move makes total since to me. Like i said before this doesnt mean he's diluting 2B shares, doesn't even mean he's dilutimg one. If you do the math they dilute an average of 100m ish annually to raise money for acquisitions and projects. (Not haas party boats) Current issued/outstanding is in the 380m range while current authorized is 500m thats not much room to raise capital. So which would be better? 2B now or have them request 100 - 150m every year? I can't stress it enough. The 2B doesn't mean dick. I got approved for 1.3m on a home loan but that doesn't mean I have to take the whole thing.
I suggest you learn what "authorized shares" means. They won't have 2,000,000,000 shares sitting around the office. The number of outstanging shares is whats important. This just gives them more room to dilute IF they need the capital for large projects. I could be wrong but I'm pretty sure Haas can't magically pull materials out of his butt to build the contracted green house projects. And if i was the buyer, I'm not handing over my millions until they have some facilities built. Most companies have billions of authorized available if needed, even highly profitable companies like amazon, google and GE. So is this a bad thing? Not necessarily.
Spelling errors drive me nuts too! I keep reminding myself the generation thats entering the work place and getting the peon jobs like writing down what the ceo dictates are the texting generation. 2 kids, thousands of dollars spent on 2 bachelors and both of my kids can't spell. Lol Spoiled by spell check. I want haas to hurry and find a CFO but I also want him to take his time and find a good one. I also want him to focus on closing current deals and stop wasting dilution funds on crap like weedwall.
TPX thats a good little article. I think he might be wasting time and money on thi weedwall.com unles he plans to plaster it with grnh product ads. This is what I've been wanting hear him say. A good ceo admits he needs help and finds it early, not run a company into the ground and be forced out after its to late(marrissa mayer).
“I remain as Greengro’s CEO,” said Haas, “but the company is growing so fast that we need a dedicated business professional in place to deal with public side information like annual reports, SEC filings and other material related to our shareholders. Our new president will be capable of integrating finance, communication, marketing and securities law compliance to enable the most effective two-way communication between the company, the financial community and our shareholders.”
Norfolk I strongly agree with you on the CEO situation. I find the mass sell of confusing since most of the people dumping have complained about Haas non stop. This is a huge for GRNH! Haas is a good salesman but as the company has grown you can tell he's getting overwhelmed. This is an opportunity to get someone in charge who can make sure the financials get out in a timely manner, which seems to be one of the biggest complaints on this board. They've also complained about the land deals and how they aren't done instantly, yet forget we're still dealing in a federally illegal realm. Regardless of what California passed most banks are still sketchy about having anything to do with MJ based companies because of Sessions and the Trump administrations comments. I like the direction and will continue to add on these down days!
Marijuana is illegal period. Medicinal, recreational doesnt matter its still banned by the federal government so yes there will be snags and issues when dealing in this realm! However, when medicinal gets legalized (hopefully this year) all those hurdles haas is tripping over will no longer be there and GRNH will be free to run. In that FB post it sounds like Haas admits this company has out grown his capabilities and wants to find someone who can handle it. THIS IS GOOD! Most ceo's won't admit that and run a company into the ground until they're removed. In my opinion medicinial gets legalized and GRNH gets bought out by one of the big boys like Scotts.
Thanks for the cheap shares I'll post pics of me rolling in my millions when medicinal gets approved.
This isn't the same lawyer that said it would be reclassified last year is it? I won't believe it until I see it. but man do I hope we see it!
I don't see how anyone can buy into anything this administration says. They've been caught with their pants down too many times. Bowling green massacre? terror attack in Atlanta? If anything maybe it will get the newly formed Cannabis Caucus off their asses and push through all the policies they've been talking about. Hopefully that post from Haas will get people realizing majority of this companies income is coming from NON MJ buisness! This sell off will be short lived. Go GRNH!
I wouldn't be surprised if Haas sends out a tweet stating it's a done deal. As for official PR with details I believe you're right and it might be a few days before we hear anything.
It is supposed to happen today. Just keep in mind they are a CA company and as of this post it is only 8am and the business day is just getting started out there. Honestly, I don't think we'll hear anything until closer to market close.
Best of luck!
GRNH!!!
Cali growers association said the state won't be issuing commercial license until 2018. So I'm assuming they don't have one. unless they plan to grow for medicinal only.
My money says the Letter of Intent will be pending until they snag a grow license.
I wonder...do you think the LOI is "pending" waiting for a grow license? If they do manage to get the license and start growing on this 150 acre farm, will a larger corporation come in and buy them out to get around the 5 year wait period?
This company has seriously set itself up for some ridiculous control over this sector if all the cards fall in the right places. I'm shocked we haven't seen buyout rumors already. what do you guys think?
-Fish
GRNH!!
Porky- One thing to keep in mind is that Sen. Sessions still has to be confirmed. If you look into his past he was denied a cabinet position before and to put a known racist in a position of this power when racial tensions are at the highest they've been in years...well that's just plain stupid. Fingers crossed congress doesn't confirm him.
GO GRNH$$$$
I'm actually shocked he hadn't signed an Federal Executive Order already. If/when he does we'll be glad we got in GRNH when we did!
(by the way FDR signed the most Executive Orders with over 3,500. Obama is actually in the middle of the pack with around 235, shocking he found time between golf rounds to sign that many)
One would think this would move prior to the day rec sales start. There needs to be product to sell! We should start having insane fins as soon as Cali starts issuing grow permits!! GRNH
"House Minority Leader Nancy Pelosi (D-San Francisco) said Friday she plans to vote for California's Proposition 64, making her one of a small number of high-level politicians to support legalizing the recreational use of marijuana."
More politicians jumping on board! Federal legalization is coming in the next couple years!
http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-house-minority-leader-nancy-pelosi-said-1478289999-htmlstory.html
That is definitely true! We had some nice gains after that clown showed up last time! His other half (1vman) should be showing up soon!
Welcome! 120k is a pretty good number! hopefully you were able to get them while they were cheap! I got about 500k left I picked up a bunch in the 2's. Wish I wouldn't have sold any, but you know....Bills have to be paid! lol
Germany Approves Medicinal MJ This is great news! It shows what kind of strides they made at the UNGASS. Germany is the known leader of the EU so I'm sure there will be more countries to follow! Next stop, rescheduling! All aboard!!! choo! choo!
http://www.cnn.com/2016/05/04/europe/germany-medicinal-marijuana/index.html
Darthyoda here's some food for thought. IF CA legalizes this year (I'm sure they will) that’s 25.5 mil (age 21+) potential customers. Say you own a 10k sq. ft. green house and you allow 2sq feet per plant that’s 5000 plants. To keep good solid coverage let’s say you need 15 people to maintain the plants. If CA passes $15 min wage your looking at just under $500k in yearly wages, not to mention benefits.
A 30x120 Blackout system starts at $34,900 (x3) and you add on a bunch of bells and whistles so we’ll call it $50k each. So your gonna spend $150k and let's say another 10 to 15k to get set up with the new cameras and the automated control system with the monitor and control, now you’re looking at 2 employees! 65k (in wages) + 165k (for equipment) = 230k that’s less than half what it would cost not going automated! And you're saving $400k in wages year over year.
2016 might not be huge but the end of 2017, beginning of 2018 will be massive!
GRNH
Personally I wouldn't mind seeing it roll back to .05 so I could pick up another 3-400k! With all the little companies they've been collecting I see them having the market on lock down when it goes legal.
You are right. WiFi enabled cameras are nothing new. however you fail to see the big picture. As a grower I can tell you it is more appealing to purchase a light dep grow house with these cameras and all the other bells and whistles than to try and piece it together yourself.
dkester59 - "also acquired technology to integrate temperature, humidity, CO2, pH, TDS, DO, and light sensors with a database for M&C (Monitor and Control) capability." with these types of controls they pretty much could grow on the moon and just control it all here! I think we're on to something!! Colonize the moon 2020!!! lol
Greengro Technologies, Inc. Acquires GrowCameras.com Bringing IoT Technology to Its Product Line
Greengro Technologies, Inc. (OTC PINK: GRNH), a world class provider of ecofriendly green technologies, announced today that it has acquired growcameras.com, a revolutionary way to monitor crop health. The Grow Camera is a self-contained, WiFi enabled, five megapixel NDVI camera and temp/humidity sensor. It can be used with most modern DVR equipment that support networked cameras while also featuring monitoring capabilities through Android, iOS, or Windows devices using the mobile application. The Grow Camera NDVI technology is traditionally used in space imaging and weather satellites, and can be used to quantify vegetation health and provide an early indicator to problems in the grow room.
As part of the growcamera.com acquisition, Greengro Technologies, Inc. (OTC PINK: GRNH) has also acquired technology to integrate temperature, humidity, CO2, pH, TDS, DO, and light sensors with a database for M&C (Monitor and Control) capability which will be integrated into the company's existing horticultural offerings of modular gro rooms and light dep greenhouses.
"We are bringing IoT (Internet of Things) technology to our product line, so that we can leverage the enormous amount of agricultural data being generated everyday by our products," said James Haas, CEO of Greengro Technologies, Inc. "By measuring and quantifying the data collected, we can integrate automated control systems into our products. This will reduce labor costs while improving consistency and sustainability for our customers."
If the politicians had half a brain they would jump on it and legalize it ASAP, slap a 25% fed tax on it and cha-ching!!!
I'm fairly new to this game and find it extremely hard not to take my profits and run. I truly hope you guys are right about holding right now! This Vet has bills to pay! GO GRNH!
I called the mailer. The guy I talked to put me on an email list for news updates. He said he has a meeting with the CEO this week and has really good news they'll be releasing very soon. I tried like hell but he wouldn't give me any details. I'm assuming its about the huge Dec they had.
So Excited! I missed out on the last run because I was feeling iffy about the MJ sector, so after my "i'm an idiot dance" I loaded up pretty good. luckily got in at .027! Wish payday would come sooner so I could grab more.