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All US operating cannabis companies are on the OTC. GRNF is one of those.
Their status as an OTC stock has nothing to whatsoever with the quality of the company. They are here soley because of federal prohibition. Making blanket generalizations like that is not being totally honest.
Commercial financial services. Different requirements.
When you have the CEO of Cannatrac talking about their exclusive banking partnership with PBC to use their financial services, that's some tangential evidence that suggests there's something here. Who signs up with a scam bank? They did the DD and they're happy with their service.
Not to mention the deal with Grapefruit to use PBC's services in California.
The only fact anyone can say with certainty is that there are no facts. For that, we wait.
Hey looky, GRNF still going up. :)
Obviously, that's a wait a see thing. I can speculate, as you are.
I'm not concerned about the hedge fund.
Nothing is falling apart, except some people's patience. That's understandable. No indication that the plan is not proceeding.
And most of those 1.15B assets under management mentioned on GRN Funds are moving to GRNF. Obviously, that's why they took it off the website when they updated.
You can cherry pick one complaint from any company on earth and paint a picture that may not be representative of the whole. It's easy to do.
The interesting part is that this is a person talking about a company that some here say doesn't exist. I thought this was all fiction? Yes, there are more than one type of bank.
First of all, I'm not ignoring anything. I have concerns, mainly about the time it's taking. But I also can't ignore that a whole bunch of other reputable people have committed personally to GRNF in some official capacity and it's highly unlikely ALL of them have been bamboozled. These are smart people, they have knowledge we do not, and not a single one has left for any reason. Why, if it's so easy to figure this out, are they still there?
I'm a gambler. I'll hold for now and see what happens.
Agree. You'd have to ignore all kinds of things to reach that conclusion.
I don't think anyone bought GRN for the drone company. It's just noise in the big picture. Not sure why JC is talking about it so much because it's absolutely worthless. I guess he thinks the toys are cool.
Just follow your gut. All you can do.
Technically, they have 4 days to file 8k. So they could own them as of the PR yesterday. If, that in fact has happened.
Nothing in that PR was misleading. Relax.
I've been here since July. I'm the most confident I've been since the beginning. JC has followed through on everything he said.
Merger imminent. QB imminent. Dollars imminent.
Perfect website to quote. Seriously. The irony is exquisite.
JC didn't pay for that article. Why don't you tell the bot that wrote that it got the wording wrong. lol.
Read the words carefully. "Completed due diligence in connection with the acquisition" does not equal "we have acquired". Do you understand there has been no acquisition yet? All it means is the prerequisites required for the merger (the due diligence/audits) have been completed. That is it. That implies they are free to complete the merger now whenever they choose.
The actual GRNF ownership of assets begins when they sign the merger documents. Not before.
I don't think so. The DD PR is not a definitive statement. We're just talking about no other requirements necessary before filing, such as a binding letter. 8k is required 4 days after the merger is signed.
Perfect. That is my understanding as well. Next step is filings.
Jeez. We get to see their posted financials. Better?
That's 100% false. Suggest you research how to reverse merger.
I don't know. I'm just saying he'll likely get a pay package similar to most CEOs, and that'll include shares. Is that bad? That's not enrichment, it's compensation. Or maybe he'll donate the $1 salary he currently earns and work for free. Stranger things have happened.
Ah, you forget they can issue shares. Most CEOs and board chairs get a very nice share compensation package from their company. When the value of his company goes up, so does his net worth (theoretically). He'll draw a salary, but I would bet most of his pay will be performance based shares.
You're only considering half the equation. Of course he's getting a return. Why else would any company go public? He is getting a huge benefit by giving up equity to shareholders. The ability to issue shares for new acquisitions or debt financing, or whatever need arises is far more valuable to them than whatever they gave up. Especially in this sector that doesn't have traditional bank financing avenues.
JC may be able to grow GRN's portfolio exponentially faster using shareholder equity than if it stayed private. That's the return.
And before anyone goes on about dilution, yes there will be shares issued in the future. Guarantee it. But it's called accretion if the shares are used for revenue generating assets and increase equity. That's his plan.
The details will be laid out for everyone very soon. That's one of the benefits shareholders get for buying shares of a public company. We get to see the books. It could be a little, it could be a lot. Who knows? The guessing game is about to be over thankfully.
They don't need a binding letter for the assets with a RM. This is not the same as two unrelated parties agreeing to a sale/purchase. It's a transfer of legal ownership from private to public company. The beneficial owner, JC, does not change. He just needs to sign the merger agreements and file the paperwork, audits, etc.
Shell status will be removed when the OTC gets the notification GRNF has acquired assets (merger docs should be enough to get that done). My guess is this happens this week.
Not closed. Audits are done. There's a difference.
Only one thing left to do now. Hope everyone's ready for the ride.
All companies that go public give up some equity. It's not gifting. GRN is getting some very valuable liquidity in return. And I wouldn't be surprised if there is some debt with his subsidiaries. That wouldn't be shocking at all. Take a look at all the cannabis companies. Debt everywhere, with a few exceptions. What is more important is what is the potential revenue vs debt in the short and long term. Nobody knows anything right now to make any definitive statement regarding that. You assume it's debt ridden, but given that their core enterprise is in services/banking, I would NOT assume they follow the model of the MJ retailer/grower in that regard.
Why do you keep leaving PMP off your list of companies? Is that one zero too?
I don't know if the assets will add up to that, but their market cap will. No doubt. And that's all that really matters to traders.
If they do have say 1.1B in assets, I could see a 10B market cap given the right fomo. Math says that's $40/share. I don't care what you think of JC, I'd want a ticket on that train. That's why so many of the doubters are hanging around.
That's a gross misrepresentation of what has happened so far. Seriously.
GRNF is going to multi dollars very soon. I'd hate to be left behind waiting for all these nonexistent investigations.
So why has the SEC not commented or punished them on these alleged transgressions? Surely they keep up on what's going on within their purview?
Sorry, but I've not seen any warnings or fines from the SEC regarding such issues. Until then, I'll take GRN's exemplary reporting record as all the evidence worth considering.
So they paid the $2500 application fee knowing they don't qualify? I find that highly unlikely. The application also requires audited financials, so those have already been submitted. I bet we see an updated auditor when the s8k hits. And they are currently SEC compliant. Don't know why you think otherwise.
The reference has been removed from GRN Funds website because those assets have been (about to be) transferred to GRN Holding. It's not hard to piece together what's happening.