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That wording is why I'm not sure how they are going to transfer the assets. It's plausible they used the word acquisition in the sense that the assets are transferring ownership. That does not necessarily mean they have to do anything more substantive to complete the transfer than signing the agreement. The LOI didn't mention anything about payment.
As for companies JC doesn't own, GRNF will absolutely increase the AS to pay for it. To keep the controlling interest, he may issue some preferred shares or supervoting shares to himself.
The big difference here is he's not brokering a deal between third parties. This is a reverse merger, not an acquisition. He already owns these companies, or owns stakes in them. The merger only requires his signature.
Yet, he's smart enough to put together this elaborate scam? Your theories don't hold up.
They reported in the last 10q to expect significant dilution when acquiring new companies. That's why they are going public. And acquiring businesses is what they do. I'm expecting it to happen and not worried about it.
As to the companies in the LOIs, GRN already owns them. Whether or not they issue shares for their existing assets to merge is not clear to me. They technically don't have to.
If GRN Funds doesn't already own any part of them, then GRNF would buy them with shares most likely. That's why companies go public. To use shareholder equity (issue shares) for acquisitions and other business expenses. This is normal.
That wording of that is why I'm uncertain. Legally, he can just sign an asset transfer agreement and GRNF would be the the new owner of the assets. If he decides to issue shares, then so be it. GRNF will still be the new owner, but we'll have a much higher O/S. Either way, the share price should see a significant bounce from here.
As for the auditor, I'll defer to JC on that. I'm confident there is one. I have no confidence that your lack of information is indicative of inaction.
GRN Holding hasn't incurred a lot of expenses because the merger hasn't completed yet. There's not much to report. GRNF expenses to this date are minimal, obviously. Expenses for the assets are still attributed to GRN Funds. And GRNF is not 'acquiring' anything. They are the receiving end of a merger. The LOIs are just a way to assure shareholders the RM is going forward.
A reverse merger means they are transferring existing assets to a new public ownership. This can be done with a signature on a transfer agreement, without any expense at all. JC has already paid for the acquisitions as a private enterprise. Why would he pay for them again?
I believe they can do this without shares issued. But whether they do it this way or not is uncertain. We shall see.
So what? Is there any evidence this guy is involved with GRNF? Again, if JC is not involved, I'm out on the speculative nonsense. It's irrelevant distraction.
I'm not concerned with legacy shareholders. I'm interested in how JC is benefiting from buying this shell? What has HE done that is illegal, or profited illicitly? There cannot be a scam if the principal shareholder is not involved. At least not one he's responsible for.
JC doesn't care what the stock price is now or was 4 months ago. He is concerned with where it will be after the merger. If someone is able to profit from holding shares, new or old, then good for them. THE WHOLE PURPOSE OF DCGD WAS TO SELL AN SEC REPORTING SHELL FOR PROFIT.
Well, obviously, it's not successful because it's not a scam. lol.
Doesn't a scam involve profiting from innocent shareholders? How much money has JC made from the pump? How many shares has JC sold of GRNF? How else would he be scamming us if he's not selling shares? HOW?
Just checked. 50% chance of rain in Seattle Thursday. lol
You just kinda proved my point. Some say he's not smart enough to run a limo company. But he is smart enough to run one of the most elaborate, longest lasting, and successful scams on the OTC that anyone has ever seen? These things are not congruent.
Look, I remain cautious until I see the filings. This is and always has been a high risk investment. But there is plenty of evidence to suggest JC does own GRN Funds, GRN Funds does own a lot of valuable assets, and many of those assets are merging into GRN Holding. Reverse mergers are pretty common and this one has a lot of potential.
I suppose we can disagree on this. People pumping a legitimate business venture is hardly unusual.
I find the entire premise that this is all a scam entirely irrational and without merit.
Again, the 8k was corrected. I don't believe he benefited from the mistake. If his intention was to deceive for profit, he's doing it wrong.
I don't consider message boards or twitter users as affiliated with JC. There's all kinds of misinformation pushed out there that is not directed by the company. GRN is not unique in that regard.
Fraud must have a specific intent. What did he gain, personally?
What info did he give? Just curious.
Nope. Sam did not start either of those companies.
Just a down day on below average volume. Welcome to OTC stocks.
Mid-cap means 2 to 10 billion valuation. That'll be fun. :)
I have no doubt that's right. I've been following the cannabis industry for years and I see a ton of momentum to get the laws changed. My guess is the uplist and banking question will be resolved within 18 months, in favor of cannabis biz. Complete legalization shortly thereafter. All good news for GRN specifically, and the rest of my investments as well.
Looks like they have plans...
If I wasn't already in, I'd throw a little at it. :)
Roemp is right. It's a well known fact if you've been invested in MJ before. Big boards don't allow US growers or retailers as long as it's federally illegal. No ifs ands or buts. Every one of those companies in the link don't do business where MJ is illegal. All are operating in Canada where it's legal.
As for a holding company exemption, I don't think so. Most, if not all, US MSOs ARE holding companies. They do it to isolate the various state entities from liability to the parent company. Curaleaf Holdings, Acerage Holdings, Trulieve, Marimed, Halo Labs, Planet 13 Holdings....all of em operate as holding companies, none of them have uplisted. And some of these are billion dollar companies so I'm sure they would like to.
There are 1.7 billion active websites. #4.38 million is top 3%.
Regardless, your point is irrelevant to anything unless you want to compare to similar businesses.
You realize that's like top 3% of all the websites in the world?
Another ranking site has them slightly behind ihub. lol.
lol. Right.
Sorry, we're talking about different things.
How did he bury it, exactly? I mean, we're here talking about it, right? It's no secret.
His little muni court infraction may not constitute a material event. Minor offenses are excluded. Although he is free to add an explanation of such an event if he desires.
Most people are smart enough to figure out what is and what isn't. The stock price pretty much confirms the prevailing theory is not yours.
Yep, paid cash just to totally pump it up to over $2.00/share. Then sell.....none of it.
Why would I give up? You can sell whenever you want, but I'll wait until the RM is done. I don't understand why if there's a period of inactivity, people assume it's a POS or scam? There's not some kind of magic button to create all the legal and financial documents overnight.
It's been 2 1/2 months since Rigworx took over the shell. Now he has to complete the audits and file the 8k. I'm no expert on RMs. My best guess is it's a 4-6 month process. So maybe it'll be within 6 weeks. But who the hell knows? Could be 6 months.
I'm just going by what happened on his first one, unrg. Disanti had a buyer beforehand. Sam Smith was named CEO very quickly after custodianship was awarded and articles of merger were filed a month later. I don't know why it would be unrealistic to think that was the procedure. This one appears to be handled differently, which is fine. I'm not bothered by it.
I would have hoped they had a buyer and framework for merger set up before they took over custodianship. Seems strange to me they're still negotiating something. This should have been a done deal from the get go unless someone backed out and he had to shop it around. I wondered why Disanti named himself CEO instead of his client.
At any rate, all we can do is wait and see. Anything that comes in is better than a dead company.
I'm not trying to be negative, just looking for something a little more substantive. There were also rumors of that other European company.
It's all good. Whatever comes will be worth more than we're looking at today. I'm here till it happens regardless.
I don't know about $100/share. But $1.00 or more should be pretty easy. Just waiting on the 8k. No reason to think this not a legit company unless you just have that kind of mindset.
Shouldn't be much longer.
When was he exposed? I missed that news article I guess. Dang.
This is why they have research and affiliations with ag colleges. They'll develop strains that aren't prone to going high thc content. Or, they'll convince the govt to change the rules. State of FL wants those crops to be successful as much as the farmers.
Also look at Gencanna. Largest hemp grower in the US, though farther up north than FL. They are having a record season. Not worried about hemp or MJ.
How is it confirmed? I've not seen an announcement. No articles of merger filed yet.
I disagree. There is evidence he is a kind, caring and generous person as well. I haven't met him so it's HARD TO EVALUATE. Wouldn't want to make assumptions.
And he was arrested once. (1) time.