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By Now!! Befo to layt!
Wow! Here it Goes! It going to Take Off!
SO TRUE! That's Their Pattern.They think they're Smarter Then Everyone Else, or can Fool, and Mislead everyone. Like "Medicine Men", selling Snake Oil. Promising Everything!
SGMD HAS NO OPERATIONS!
BUDCARS, which SGMD does not own yet, has small Delivery Service, that it's Driving to the Ground, with same bad, fraudulent, practices, as Jimmy Chan, and his SGMD Co., practice.
As per customer reviews:
BUDCARS: Using Bait & Switch Tactics. Losing Repeat Business
BUDCARS: Does not show up, or typically 5 hours delivery time, Losing Repeat Business
BUDCARS: Products Inferior, and do Not Match Photos, Losing Repeat Business
BUDCARS: Prices, ridiculously high. Losing Repeat Business
BUDCARS: Customer Service, a farce. Copy & Pastes same comments, to all complaints, if any. Some "locations", do not even bother doing that.
BUDCARS: NOT Interested in remaining in Business.
BUDCARS/SGMD: Main interest in showing large sums of money coming in, that can't be sustained, as have no repeat business, and major competition, that customers are flocking to.
BUDCARS/SGMD: Only interested in Keeping Margins & initial income high, to realize a Spike in Stock Price.
At this point, MUST open new location, as bad reputation, will put out of business, in present location.
SGMD, Owns NOTHING! PRODUCES NOTHING! SELLS NOTHING, BUT SHARES!
Filed as a SHELL Co., Producing, Selling Paper Products, Spices, to the Restaurant Ind.,
With Covid, Jimmy Chan claimed $30 Million on the Books, with rocketing demand of paper take out products for restaurants! No Ceiling to Demand!
RESULT: BS, (0) Income from Paper Product Sales
Jimmy Chan: Claimed $10 million on the Books, and No Ceiling! to Selling PPE, Masks, Sanitizer, and in excellent position, with unlimited Chinese connections For Health Care Workers, and FrontLine Workers.
RESULT: BS, (0) Income.
Merged with other Companies, to Benefit from Driving Stock price up, Then Disolved Mergers.
RESULT:BS, NO SIGNIFICANT PRESENCE! IN CBD, HEMP, or Cannabis Industry as Highlighted.
CLAIMED will Produce, Cultivate own Cannabis, for Higher Profit Margins.
RESULT: BS, Never Happened.
LISTS BUDCARS INCOME AS SGMD INCOME
RESULT: BS, Deal for 40% of BUDCARS, NOT FINALIZED!
Income listed, belongs only to Budcars. When Deal Finalized (Not Likely)
Then SGMD receives 40% of the Net, or approximately $200,000.00 per month. Which by SGMD Statements, in 8K, and !A, filings, is not enough to continue in operations.
SGMD did not takeover Budcars, and does not own it. When,and if the contract is finalized, then SGMD, would be a 40% partner,of likely nothing, judging by the bad customer reviews of Budcars.
At 40%, & after "expenses", SGMD's monthly share, should be about $190,000.00. As I am sure they'll be first to say, not enough to continue operations, and judging from past SGMD history, will probably undo/dissolve the Budcar agreement, and onto more hype..Printing, & Selling More Shares..
Still no comment from Jimmy Chan, on his claim of $Millions booked selling PPE's, and Paper Supplies to Restaurants. By Now, w/ COVID, SGMD, should of taken in $100-$200 Million, on PPE's, and $100-$200 Million on Restaurant Take out/Paper Supplies..No comment from Jimmy. & Still refuses to show US the Money.
I know,there are about 3-4 of us, including "Niceguy", that can read, have memories, and are not stunned, hypnotized, or in euphoria, from misleading, headlines, and "Chearleading" type comments, from SGMD "shills", & hawkers.
I try not to post the facts too often, as it doesn't do us much good, and we'll lose new investors, that keep this "PONZI" type scheme going, that could bale us out.
Well helpfuly Jimmy Chan, starts to see the little sparkling light between all his Smoke, & Mirrors, and realizes, he can actually Create a Bonafide Company, in the cannabis industry, and also make $100's millions, selling PPE's, and restaurant products, that are among the few items selling tremendously well during Covid..
He doesn't need to scam anymore, or just be a shell company, as SGMD was/is..
He can actually be reputable, and have a reputable company, that could be worth $500 million within 6-9 months. No need for Share scams, and "pump & dump" schemes.
I guess you believe in the six (6) Strikes your out, theory of Finance.
1) No Hemp deals
2) No CBD Deals
3) No Pot Cultivation Expansion
4) No $10 million Income, "orders already on Books"for being "In
good position". w/ Chinese Cnnections" for PPE SALES. Should've been $100 million by now, if legit
5) No Income, for "In good positions, & with Chinese connection, already "have $30 million dollars, on the Books" in Restaurant Supply orders". "Huge demand for paper products, since Covid"...Should've been $100 million by now if legit company.
6) Likely No Income, from Budcars, for SGMD. 'till Deal Finalized. Deal not completed, Finalized yet, for 40% share of ownership. Deal w/ be finalized, when final payment made.
Then we have 1A report:
We have incurred losses since our inception, have yet to achieve profitable operations and anticipate that we will continue to incur losses for the foreseeable future.
Even if we obtain more customers or increase sales to our existing customers, there is no guarantee we will be able to generate a profit… If we cannot operate profitably, we may have to suspend or cease operations.
For the fiscal year ended June 30, 2019 we incurred an operating loss of $4,915,077. For the fiscal year ended June 30, 2018, we incurred an operating loss of $1,241,947. At June 30, 2019 we had an accumulated deficit of $47,088,950. Although we have generated substantial revenues, they are insufficient to make the Company profitable. We plan to increase our expenses associated with the development of our business. There is no assurance we will be able to derive revenues from the development of our business to successfully achieve positive cash flow…
We do not have sufficient cash on hand.
As of March 31, 2020, we had $7,510 cash on hand. These cash resources are not sufficient for us to execute our business plan. If we do not generate sufficient cash from our intended financing activities and sales, we will be unable to continue our operations. We estimate that within the next 12 months we will need at least $5,000,000 in cash from either investors or operations… Nor can we assure our shareholders that we will not be required to obtain additional financing on terms that are dilutive of their interests. You should recognize that if we are unable to generate sufficient revenues or obtain debt or equity financing, we will not be able to earn profits and may not be able to continue operations.
The Company sustained continued operating losses during the nine months ended March 31, 2020 and for the fiscal year ended June 30, 2019.. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations, in which it has not been successful..
BudCars Prices too high.
Quality low.
Use bait & switch tactics (product delivered nothing like shown in pictures).
Delivery time 5 hours(+).
Customers run to competitors, for much lower prices, better quality, and much better customer service.
Budcars either under primary directive to show large (initial) numbers, with no concerns for quality, repeat business, or customer service. Or Perhaps Chinese method of doing Business.
Nice..Frontloading..
and their(Chinese) idea of popular English slang.Likely heard in cheap, B movies, or porn, and their use of "ChinGlish"..
Best of Luck.
Well, I hate to give this to Jimmy, as he hasn't given us anything but talk, smoke & mirrors, preying on peoples hopes, and dreams.
But after several years, he hasn't pulled the cord yet.Then again, he hasn't had the opportunity in the past to take advantage of the Global Billion dollar pot market hype, put out by the press. As SGMD, was, and is still listed on most company descriptions, as a restaurant paper products supplier, w/ no mention of cannabis interests.
I hope he realizes, he can actually make allot more money being legit, than just running share selling scams.
If he completes the Budcar purchase. Lowers the ridiculous markup, stops their Bait & Switch, improves Customer Service to grow the customer base. He can then leverage that into the cannibus cultivation business (presently more smoke & mirror hype), and profit more, as he expands Budcars, and maybe makes even more agreements with other delivery services.
But realistically, I can't see what SGMD has/had to offer to Budcars, w/ $7500 cash, $12 million debt, to make them give up 40% of their growing company. Unless it was just a scam all around, both hoping to benefit from the share price hype. As is evident, by Budcars, aggressively doing what it can, to front load as many $ales now, for the hype, not caring about product quality, using bait & switch, delivering, smaller, inferior products, and providing lousy customer service..
I hope it somehow turns out better than it seems..
=A=
With all due respect, As per their Contract, the agreement for the 40% is not finalized until the last payment from SGMD, to Budcars is made for the 40%. Presently SGMD, cannot profit from Budcars, until the agreement is "finalized". Hopefully this agreement will remain in place, and not cancelled by Jimmy Chan, like all his other agreements/mergers.
Budcars is real. Have lousy service, use bait & switch tactics, are way over priced, and apparently do not care about repeat business, if you read the majority of the reviews..
Problem is they have nothing to do with SGMD, until the payments to them from SGMD are "finalized". Likely to never happen. Just more of Jimmy's smoke & mirrors...
1) There ARE NO REVENUES. ZERO (0), NADA.
2) Jimmy Chan, stated in May, in Excellent Position, to supply rocketing demand for paper take out, and other Restaurant Products. Have over $30 Million in orders on the Books. Early in Pandemic.
With Pandemic Continuing those orders should be over $100 Million by now. NOTHING!
3) Jimmy Chan Stated SGMD in excellent position to provide PPE to Medical, and other Emergency Front Line personnel. Thanks to excellent overseas connection SGMD in best position to provide Sanitizers, & Masks, orders placed, exceed $10 Million. NOTHING!
Pandemic continues, individuals, selling out of their garages, made Billions. By now SGMD, should of made at least $100 Million from PPE Sales. Especially with "overseas connections" NOTHING!
4) SGMD Touting Bud Car Sales , with existing Sales, approximately $650K per month, and growing. With Expansion in Los Angeles, and other locations in early July. NOTHING!
When Asked about revenues (Already on the Books) from 2, 3,
Initial Response was, only projections. When pressed further, response changed to Purchase orders cancelled from likely relative that may have placed over eager order.
When asked about Bud Car sales/Income. Told to read contract.
SGMD does not yet own 40% of Budcars, and will likely not see revenue, 'till payments finalized. I wouldn't count on agreement being finalized.
So far, Jimmy's track record has been "making" (announcing) Agreements, to artificially inflate the Stock Prices, and Fraudulently entice investors, with claims that income was already on the Books, (not Projected) only to then back out, cancel the Many mergers that were supposed to make SGMD "the biggest CBD, HEMP company, and cannabis distributor in the World".
When Challenged, and outlined fraudulent activity, Response was not factual detail, and breakdown of revenues received, from Restaurant Equipment, PPE's, and Budcars.
Instead, remarks were made justifying the fraud, that "fraud" was legal, and it's buyer beware,should do DD, and read the fine print, and that's the way Penny Stocks are, that nobody has a legal leg to stand on, that they would just waste their money, that no lawyer would take the case.
Presently it still only has $7500 cash, with $12 million in debt, 0 Sources of Revenue, and threats of Bankruptcy in their prospectus.
The Jails, are filled with fraudsters manipulating stock prices, for personal gain, artificially, misleading, and lying about revenues, and manipulating mergers, and their announcements, with intent to defraud.
I get emails every day, and there are hundreds filed every day, even against Billion Dollar Companies for Misleading, Defrauding Investors, Stock manipulation, and running PONZI Schemes.
Let's give him,'till next week.B4 initiating Class Action Suite.IF he makes good, on at least 3 out of his 10 claims. It might still be salvageable.
Maybe because Jimmy Chan, did not graduate High School, or College, he, and his cronies, think we're all stupid, and can't read between, through, above, below, and on the lines..or that we have no memory, and are so blinded by "the Leader Chan's eternal promises of bliss, and happiness, we're willing to overlook his fairy tales, and believe he will do better, while we forget, and forgive, all his "empty" promises.
Maybe he had allot of empty promises, as a Kid, and he's now taking vengeance on all "Adults", that didn't believe in him, and may have called him names in school.. I don't know..
But so far, his behaviour has been nothing but Psychotic, and Criminal.
I've known several billionaires that never went beyond elementary school. But not one of them would ever, even mislead a fly. They believed in being straight, worked hard, and shared with as many as they could.
Right Now, it looks like CEO Jimmy Chan, may be smoking more of the Product he claims SGMD is selling (BUDCARS).
It's FRAUD PAL!
When CEO says sold out of PPE Supplies, means, Money was given to SGMD. for the suppies
Where is the $? FRAUD!
When CEO Says Selling Restaurant Paper Products, at a Historical rate, because of Covid. Means Money was given to SGMD for products!
Where is the Money? FRAUD
When deals were made with other companies stating $30 million already on the Books! Where's the Money? FRAUD!
CEO States SGMD, Merged with top Companies in the Field, to make it a number one Company in Hemp, etc..To artificially increase Price of Stock. As soon as shares sold at High Price. There's no Deal! FRAUD!
CEO stateS SGMD ownS Budcars. SGMD doES not own Budcars! FRAUD
CEO ToutS Income earned from Budcars, as if it's PART OF SGMD!
SGMD HAS a tentative deal, with a Private Company, to possibly own 40%. if the Deal is ever finalized (doubtful). If not finalized, Have Nothing, BUt FRAUD!
SGMD presently has Nothing, but constant Debts, and FRAUD! & Fraudulent Statements.
These were not Projections, Estimates, or Dreams! They were Stated as Facts! people use these facts, to make decisions and Investments.
Tell your grade school stories to kindergarden Children. Not US Pal.
This is the US. It doesn't matter if it's OTC, Penny Stocks.or whether SEC does, or doesn't have requirements. The US Legal System does.
Luring, Fleecing Investors, by Fraudelent means, overstating, income, or totally misleading income received, is intent to defraud investors.
Your Constant Fairy Tales, about Imaginary income to bring in New Shareholders, is nothing but a PONZI Scheme!
Kindergarten Children might look at you wide eyed, and believe your ridiculous 11th Century explanations, & excuses. But not Adults in todays computer age, and definitely NOT THE LEGAL SYSTEM. Jails are Full of Scammers, Fraudsters selling stock under false pretenses, and people running PONZI schemes.
I suggest you stop trying to Justify the Fraud with your Dumb Pen Examples, and claims of "that's Penny Stocks", the Fraud "is all legal" nonsense, and suggest the CEO show where the money went, finalize Budcars deal, Bring down debt. Start producing something, that will generate approximately $100 million dollars, within 3 months, that He assured investors, was already on the Books, or he will Be in big trouble.
Whatthe Hell is a "Mixed Egg". Write either English, or Chinese. not Chinglish
Likely big announcement at the close.To boost this for early next week.
That was "klimanjaro"
Californica, Nice..Don't forget Kilamanjaro..
Niceguy1, They. (Jimmy Chan, Tiger), are getting very defensive about technicalities, and are more concerned about proving that their fraud is legal, rather than providing evidence to the contrary, to indicate they are a legitimate business, and not just "share sellers".. Busted!
The Long History of Propagating Mergers that don't Materialize, and Statements ie. that Incomes are already on the Books, in addition to Constant Income, and expansion growth, and PR "News", that does not materialize, put out by their PR Firm Tiger, SHOWS a Clear Pattern of Intent to Defraud. and Yes, they are liable, if the Intent is so blatant, and there is a long history, pattern to it. Any court will rule in favor of the plaintiff.
Bonneville ,I'm Happy For You. Glad to see ur studying. Nice Fields. You should buy into some Bio Stocks now..
If this stock, was/is Legit, it would of gone to $12-$13, on the mergers, and proposed revenues alone, and if it only had 200-300 Million Shares Outstanding, instead of 1.9 Billion, w/ a possible additional 10 Billion, at the whim of the CEO.
Definitely Algorithms don't do it alone, unless in a "vacuum"..
Good Luck
=A=
Bonneville, see Below Prognosis, by Walletinvestor.
I don’t know how reliable they are..I guess they use all kinds of algorithms, which is what Jimmy Chan, is apparently also big on..This together with youtube prognosis, somehow gives me some crystal of hope..
Go to: https://walletinvestor.com/stock-forecast/sgmd-stock-prediction
If that doesn't work, just go to walletinvestor.com, and search for SGMD.
Their Analyses shows the below, for May 2021.
May 2021
Open: 0.755
Close: .354
Min: .0237
Max: .863
I don’t know how reliable they are..I guess they use all kinds of algorithms, which is what Jimmy Chan, is apparently also big on..This together with youtube prognosis, somehow gives me some crystal of hope..
Go to: https://walletinvestor.com/stock-forecast/sgmd-stock-prediction
If that doesn't work, just go to walletinvestor.com, and search for SGMD.
Their Analyses shows the below, for May 2021.
May 2021
Open: 0.755
Close: .354
Min: .0237
Max: .863
There are some metrics out there, that show SGMD going to .7 to .8, in a month or 2. If it stays on this type of a course. I’ll see if I can find it, & post..
Most of us here, know what this stock is, & what the CEO is about. He’s made THAT! Pretty transparent.
But, he owns 71%, and he’s going to do whatever he want’s as majority shareholder.
So let’s try not to Contribute to this things downfall.
Let him run it..
If he runs it to the ground, takesoff, or does the bankrupt thing, we can most definitely go after him, anywhere in the world he might try to hide.
With his previous statements, especially Nov. of 2019, he’s opened himself up to several counts of Fraud, Racketeering Charges, perhaps even running a PONZI Scheme.
He clearly stated that over $30 million was allready on the books, from mergers, etc., in November..
NOT PROJECTIONS! NOT FUTURE POSSIBLE REVENUE! ALLREADY ON THE BOOKS,
with the expectation of $70 million.
These Statements were made to encourage investments as people did.
When a CEO tells you, $30 million of orders, are allready on the books, then for 8 months, keeps showing only $7500 Cash, and that ever present $12 million debt, there’s misrepresentation, & several counts of Fraud committed. and other charges.
But let’s be positive for now, & see what he does.
Well Done..Thanks!
300 to 1; He's had on the Books, since November 2019. He's done all the fillings. Ready to pull the trigger at any time..
I never liked "Experts"..I always wound up telling them what to do..
All else aside, it was doing fine, 'till he hired the "expert", PR firm, money expert, "Tiger"..
It should rally tomorrow.
Agree Completely. So far Budcar reviews, pretty Bad.
Best of Luck!
Jimmy, I suggest you Work on Budcars. They are losing customers. Delivery takes 3-5 hours, often arriving after 2am, w/ incomplete, uncorrected orders, missing items. Quality, Bait & Switch complaints, product not matching photos. Unexplained surcharges, way too expensive. People going to competition. Most Reviews bad. Stating that Budcars not interested in repeat customers. Just trying to make quick sales now... Some locations have good Customer service responding to issues. But 3 locations, just cut and paste standard response, to bad reviews. Unacceptable. Profit margins too high. Pricing us out of the competition. Losing repeat business..eventually all business. Read Reviews Please.
We Base our Decision to invest, on such statements as these made by Jimmy Chan, of SGMD on November 2019, and at later dates. Especially when made by the CEO, touting income figures as if they’re all ready Banked.
We don’t use ouigee boards, or Crystal Balls.
We base our decisions on statements of the CEO.
Understandably some might project future revenues, but
These were falsely represented, as already “in the bag”.
He, Jimmy Chan, needs to be held criminally liable, & accountable, for making such false, & fraudulent claims, and affect restitution to all shareholders making them whole again.
Jimmy Chan’s Co., Update Nov 2019.
“The Company recently completed its acquisition of BZRTH. Including sales brought in by the acquisition, the Company (SGMD) has already booked over $26 million in revenues on a year-to-date basis. The Company anticipates this number to swell to $32 million on sequential strengthening in gross margins and sales into year end. The Company is also in the process of another major M&A transaction that will significantly further boost overall forward financial projections for 2020. Further details will follow soon.”
“The Company (SGMD) is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The Company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator, operates Zenhydro.com a leading supplier to the Online Hydroponic Market, and Carryoutsupplies.com a leader provider to the quick service restaurant industry.”
Making Claims, that never transpired, were misleading, if not totaly fabricated, to artificially raise the price of
SGMD, and accomplish his goal of selling Billions of Shares, while producing, & developing nothing.
Then we had the millions coming in for Hand Sanitizer, etc. orders.
Never Happened!
Then we had Millions coming in selling paper products to restaurants, with huge increases in demand
For paper products, & Take Out orders.
Never Happened!
Begining to see a pattern?
The only thing sold in huge amounts were SHARES!
Billions of Them.
Making Mr. Chan Millions!
US, Nothing!
Well, mechanics of SGMD Scam revealed. There we have it. MallenNV, Perfectly explained, justified, how
the Scam works. Also explained why they think we can’t sue, and we should sue ourselves. Also alluding to the
fact, without provocation, that the Press Release put out by SGMD, on having over $10 million in orders, was basically Fraud, initiated with the intent to defraud, utilizing fraudulent Purchase Orders. That either could not be filled, or were cancelled, w/o any shareholder updates. MallenNV, further elaborates, that the whole Scam, was about selling Billions of Shares, to US suckers, that’s where the money was. Not in Sales.
There you have it..