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.
The audit has definitely become a problem to say the least, but if my memory serves me correctly, I once heard of a crack commando group that if there is a problem and no one else could help, and maybe if we can find them, then just maybe AMFE can hire the A-Team. It is my understanding the A-Team eats CFO Squaders for breakfast.
GO A-TEAM!!!
Well, here we are another week later, 6 weeks since CFO has been working on the audit
As per the pps, looks like we just got more undervalued. Gotta love the SH destruction that occurs with UBQU in a booming CBD market.
Still here brother! This has better be the mother of all comprehensive updates. Ballas has dissed us for nearly half a year. With all that is going on in the CBD world, they should be bringing in dough hand over fist. Time to get off the golf course and go to work!!!
UBQU
If the VC deal and Cannepil are successes, then you might just be right.
MGCLF
It's also possible it was the Russians interfering with our audit process. Damn that Putin!
Must be something to do with the fact that CFO has been working on the audit for now almost 6 weeks and it would seem even they can't tie up these few loose ends...or maybe it was the AMFE dog that ate the audit and they had to start over.
Yeah, we all did so don't feel too bad about it. Things were looking promising 2017 with the fins looking pretty good and the debt looked like it was going to be paid off by spring of this year...then it all started going bad. More debt, decreasing rev's, no crypto, same stupid name, and a CEO we haven't heard from since January. One of the biggest markets in history is happening now and we can't seem to even get enough leftovers to make UBQU into something.
UBQU has a few thousand customers at best in a world with 7+ billion people. Ballas took the lazy way out and decided going to shows and using all other avenues to get the word out was not needed. Now we can see just how wrong he has been. Ballas is simply not a CEO. He is an informercial actor. A very well off actor on the backs of SH.
Looks like 2015-2017
Audited financials since 4-2-18, just hasn't uplisted yet.
AMFE
They definitely don't make it easy for folks. Glad it's there at least.
With all the new CBD companies coming out, it'll be more difficult for UBQU to stake their claim. The problem is they squandered their opportunity over the last 2 years when CBD was still in the very early stages instead of being really aggressive in a marketing campaign and product diversity. This is where POT# has done really well, and it shows in the numbers. Ballas took the lazy way out and in the process screwed us all. By my estimates, UBQU only has a few thousand customers. Pathetic given they have been around a few years in a hugely dynamic and explosive market. Ballas has already screwed us big. The question is, is it even recoverable. Oh, and where on the HLT site can you even order gummies, or for that matter, Petmeds. Man, the SEC and FINRA are going to have a field day with these guys.
And Roger knows that which is why he hasn't tweeted anything in a month.
There is a bright side to the audit debacle. We only need to check the board once after hours on Friday's to see if anything has changed. There...now everyone on the board just gave themselves hours upon hours of extra time to actually live life. You're welcome. See you next week!
AMFE
Summer dog days are here but 3 things to look for this summer for MGCLF...VC deal, Cannepil, and Canada going legal (which should boost most MJ tickers).
MGCLF
Yeah, well, Roger certainly hasn't helped his reputation with the audit ordeal.
I would prefer to call it facts combined with intuition. That intuition has yet to be wrong regarding my AMFE big picture predictions over the last 10 months.
You may be exactly right, hence my reasoning for there being issues with the audit. It may be incompentancy on the AMFE side and/or the auditors, or perhaps unforseen problems with the numbers. No one on the board knows, but I think it safe to say things are much more complicated than originally anticipated. My personal hope is after all is said and done, Roger helps us to understand why the audit process became such a baffling ordeal. I know he explained some with the last SH update on April 29th, but that was a while ago now. We haven't heard from Roger since his last tweets on May 3rd aside from the Morning PR which needed to happen as the news was put out in France.
Well, I did state it might be uncomfortable for some...
I'm not saying numbers were fudged, I'm just saying there are obviously problems with the audit. Exactly what I don't know, but mark my words, there are issues.
Let me offer my take on the most likely scenario going forward, with a couple of truths some might find uncomfortable.
Truth #1- The market has not and does not like AMFE and in order to change that setiment, the audit needs to be completed and uplist needs to occur. The bleeding pps over the last 10 months and chronic insignificant daily volume attest to this truth. As important as the A/U is, the market also wants to see Gro3 deals done. Even more significant is that the market doesn't really "get" AMFE. The market views this stock as "just another restaurant stock" as evidenced by Alan Brochstein when he dismissed AMFE back in late 2017 on SA. What the market doesn't get is something Rocket has been pounding the table on a daily basis...Publishing and to a slightly lesser degree, Distribution. That's where the hidden gem of AMFE is, but is overlooked by the market. With patience, LONGS here will do well assuming Pub/Dis do even half as well as we are thinking. As this aspect of AMFE is unpredictable, we'll just have to hope that Roger and Co come through and deliver.
Truth #2- There IS a problem with the audit. Let's step back and look at this logically with a big picture view. April 6th, we were told that they were very close to filing the audit, but here we are nearly 2 months later and with the help of CFO going on 5 weeks, and still no audit. I think the uncomfortable truth is if the changes were really that insignificant, then CFO would have had it completed on their end by now and we would have filed it. The only logical conclusion is that the remaining aspects of the audit are anything but simple and the problems that have come up are trying to be dealt with, but it would seem apparent there are obstacles preventing this from happening.
Although anything can happen, I am predicting that we still have a ways to go before the audit is complete with the subsequent uplist. I'm lowering my expectation to around Q4 fins which is mid-August. I fully expect the pps is continue to bleed because as of right now, there is no reason to reverse the downward trend. Also, as we are all aware, we are now in the dog days of summer where the market in general tends to trade sideways which certainly doesn't help our AMFE cause. My suggestion would be to go and enjoy the summer months and put AMFE on the back burner. Put some low buy orders in and get some additional shares on the cheap. Good luck to all LONGS.
I think I've resigned myself to giving until next reported fins in Aug for both a better quarter than Q2 and Q3 and also the audit completion, maybe with the uplist, but I'm not holding my breath on that. My mantra is going to be 'sit back and enjoy the summer". If something great happens before August, fantastic, but I no longer expect it. Well, that's a relief I must say.
AMFE
Nice close on typical volume. Closing the Morning deal is fantastic. This deal will certainly help both AMFE and Morning big time. But, the sad news remains that despite CFO working on the audit for 4 weeks, we still don't have it done. It does make one one think what was going through Roger's head back on April 6th when he tweeted there was a 50-50 shot that it would have been done. Well, here we are nearly 2 months later and the audit is nowhere in sight. It has become a mind-boggling enigma. I'm all ears as to why the delay persists in perpetuity.
AMFE
Absolutely. The SH are getting royally F'd up on this.
UBQU
Well, I think Smokey is our Magnum. The pieces are slowly falling into place and the picture of the shenanigans are coming to light.
UBQU
Thanks Erin! Maybe you'll discover yet something else that MGC can improve on to get the word out to the community.
MGCLF
Yeah, I think only a qualified PI will be able to get some of this stuff out in the open. Where's Magnum when you need him??
UBQU
Ask the board guru...BE. I don't know myself, but it would make alot of sense.
MGCLF
Boston Erin...bringing MGC over to the US. Doesn't it feel good to make a personal difference in an up and coming company? Hell, I felt that way just creating the board back in Nov, nevermind talking with mgt and help steer them our way. Great job! I think this might be just the tip of the iceberg with your collaboration with MGC.
MGCLF
Totally agree. Organic weed will be demanded by the masses, especially after a few high profile companies get caught selling contaminated weed. Rocket is right. Companies don't want to put up the dough with all the other expenses they have getting the company growing, but it's either spend it now or later. Why run the risk of getting fined, sued. and have your licensure revoked for selling contaminated product? It's money well spent.
AMFE
yeah, with someone with more experience than just a face for an infomercial. We need a real CEO with the brains to take UBQU where it is dying to go.
Ubqu
We're working on it. If nothing else this PR is a poor attempt to acknowledge some glaring issues that need to be seriously addressed. I'm hoping with continued effort, we can get mgt to head the right way. Everyone can win this if mgt actually does the right thing.
UBQU
Glad to have you aboard the dark train to hell club. You're a little late, but I figured your good sense would prevail in the end. Together, maybe we can get this to turn around. The time for cheerleading is over. The time for SH action is upon us.
UBQU
Yeah, can't argue with you one bit. Ubqu has become a joke and it's sad to see as the potential is pretty mind boggling.
UBQU
Now that we closed again under 0.10, I expect to see a retrace back to the 0.08's, assuming we don't hear from Roger which as of now we will not today in all likelihood. The bears are winning the fight and the pps will continue to go lower. Congrats bears...you've done well. Who knew the audit would turn out to be such a lynchpin...oh wait, me, back in November. I'd pat myself on the back if I wasn't so disappointed how this has turned out, DESPITE PREDICTING IT. The good news is I got a bunch more shares on the cheap. Maybe will get more when the slide continues. Cheer up Longs, we'll win the war but right now it's retreat mode.
AMFE
Well, my prediction of going sub 0.10 is 2 days late but nevertheless accurate otherwise. My prognosticating skills still very much intact. I celebrated by picking up another chunck of our beloved, although ill, AMFE.
AMFE
Spoken like a true master my friend! Agree wholeheartedly.
UBQU
True that. I too remain skeptical and want to see some meat delivered very soon in the form of gummies ready to order, website that isn't dated, SEO that actually helps us, and Cryptobuy being more than a myth.
UBQU
Yeah, fair enough. Reading through it quickly I got the sense this PR was at least a bit of damage control as Smokey and I has been pressing them. I know Smokey has been pounding the table with the SEO issue so it's good they are addressing it. I agree with your points, but am trying to look at this as sort of an olive branch approach to SH.
UBQU