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Sure is taking a beating. Anyone know of any news or earnings hints that have surfaced last night or this morning? Seems odd that a stock with overall high sentiment for latest earnings report can't hold up a little better than this.
I understand that some people would rather take some profits than gamble on earnings, so I suppose that could be what the drop is all about.
Disappointing to see F quickly gave back all the ground it gained yesterday as it pushed back into 12's. Sure hope this isn't headed back to the Feb lows we witnessed earlier this year.
I'm betting it wants to retest high 0.005, which will probably be latest support level. We'll see where it goes from there.
What a rocket to 0.006+. Congrats all!
Well if it's any consolation, it looks like a lot of the good companies are down today, and many of the questionable companies, total gambles, and garbage stocks are up. Maybe that means ATTBF fits the "good company" mold again? :)
Not sure about earnings. Quarterly report should be out mid Nov.
I'd guess we see a small drop tomorrow, assuming no additional news or articles come out in the meantime. Holding 0.17 very well today though, and could close green. Let's see how the second half of the day plays out..
Great video. Watching this closely today. Seems to be flattening out after a small pullback. I don't think we're too far away from seeing $2.30 (U.S.) again.
She's rising up and going green! Let's see if we can get back to $12.25 for starters.
Right. I'm not seeing any ATTBF CEO rumors on stockhouse or anywhere. A contributor did post a message under the Abattis section on stockhouse saying:
"These guys just had a Cannabis guy take over as CEO and they annoucned this last week
The company intends to evaluate new business opportunities as part of its continuing efforts to increase shareholder value. Currently, no transaction is in place, and there is no certainty that a new project will be concluded in the future."
But he's talking about a different Canadian stock (FIN) entirely, and it looks like he accidentally posted in the wrong section.
Abattis Executes Memorandum of Agreement to Acquire 100% of Experion Biotechnologies Inc.
10/24/2016
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2016) - Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT) (the "Company" or "Abattis"), announces that Abattis and Northern Vine have entered into a Binding Memorandum of Agreement with Experion Biotechnologies to acquire up to 100% of Experion Biotechnologies Inc.
Abattis Bioceuticals Corp., and its subsidiary Northern Vine Canada Inc., expect to advance up to $5 million in the near term and $2.5 million in deferred capital to implement lab expansion and increase Abattis' proportionate share of Experion Biotechnologies. These figures are based on a number of milestones, including completion of construction of the production facility in the Lower Mainland of British Columbia, and the receipt of federal licensing to allow Experion to produce, package and ship cannabis and cannabis related products to medical clients across Canada. The funding is based on Experion's commitment to co-invest significantly in the construction of its state of the art, scalable production, processing and fulfilment centre over the next 6 months.
Under the terms of the MOA Abattis can acquire up to 100% of Experion. The transaction is subject to a number of provisions, including the receipt of the approval of Northern Vine and Experion shareholders, regulatory and other requisite approvals, completion of satisfactory due diligence, and the key members of Northern Vine and Experion entering into employment, consulting and non-competition agreements with Abattis.
Jim Irving, Director of Abattis states: "The Controlled Substances Lab and the Licensed Producer Facility will operate two separate and distinct lines of business, each leveraging management's extensive history, knowledge and relationships. Canadian regulators appear to be moving quickly toward mandated independent testing. Recent regulatory changes including the introduction of the Access to Cannabis for Medical Purposes Regulations are expected to result in many new markets and sales channels for both Northern Vine and Experion. We gained valuable experience from our foray into the testing business and believe that knowledge will provide terrific building blocks to success in our Canadian testing facility."
Upon approval, the LP will process, package and deliver products under its own brands or product licence holders it will carry. Sales channels such as direct patient sales are to be developed with health care practitioners. As the industry becomes more main stream, the CSL will provide expanded independent testing and extraction services for edibles, sales and distribution. The CSL is expected to be cash flow positive within the year based on indicators from health care practitioners.
About Abattis Bioceuticals Corp.
Abattis is a specialty agricultural technology and biotechnology company which aggregates, integrates, and invests in agricultural technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company also is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions. For more information, visit the Company's website at: www.abattis.com.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the Canadian market.
ON BEHALF OF THE BOARD
"Rene David"
Rene David, CFO, Acting CEO
For further information, contact the Company at (604) 336-0881 or at news@abattis.com
Speaking of which, is the Dutchess line of equity of up to $25M still open? Anyone know?
Right. And millions more to give incentive to new management coming in to hopefully take this thing to the next level.
Yes. Expect to see O/S at 150-200M before operations really start pumping out revenue. It's all fine, as long as they don't start issuing 50M shares here, 50M shares there..
The charts are looking very promising. In review, back in early 2014, remember that it only took about 3 weeks to go from 0.15 to $2.00(+). Before that, it had taken about 3 weeks to reach 0.15 from 0.05, and we sat around that level for another 2-3 weeks before the big pop.
Are we going to $2 in 3 weeks again? Unlikely, but it's still worth remembering the potential. It could climb high, very quickly.
Holding up at 0.004 well, folks. Very curious to see what the last couple hours before the weekend has in store for this stock. GL!
Okay, thanks. Just wanted to make sure I understood which dollars and exchange were involved in that rumor.
If ATT gets to 0.75, I'm just hoping the announcement doesn't involve a ridiculous downpour of dilution, but rather a new CEO, partnership, game-changing acquisition, etc.
We're a little over 110M O/S right now, and I've always considered that it could increase somewhere between 150-200M before all is said and done and Abattis starts generating meaningful revenue numbers. Even 200M with ATTBF at 0.15 is a valuation of 30M, which is nothing compared to some of the other popular MJ plays out there.
Just hoping Abattis keeps this reasonable, and investor optimism isn't eventually crushed by a waterfall of new shares.
When you mention 0.75, are you referring to Canadian (ATT) or U.S. (ATTBF)?
Got most of my order filled in the mid 0.13's. Again, surprised it didn't all get filled with many trades in the low 0.13's. Oh well, I'm satisfied if it decides to climb back up from here. :)
Goldman Research thinks ATTBF could blow through $0.30+ and here's why.
http://www.goldmanresearch.com/201610201179/Opportunity-Research/this-stock-set-to-double-thanks-to-new-license.html
Recent landmark news has driven ATTBF shares up by six times to the $0.18 level as compared with our $0.03 June 2016 initiation price. Key milestones ahead, along with the revaluation of the Cannabis space mean these shares could blow right through our current $0.30 target price, which itself is essentially a double from current levels.
Abattis’ NVL subsidiary awarded coveted Controlled Substance License. Northern Vine Labs (NVL) is one of the few 3rd party analytical testing labs for Cannabis in British Columbia and 1 of only 18 in all of Canada. As the lab is built out and services launched in the coming months, ATTBF is primed to enjoy meaningful revenue from the testing of potency, microbial and others.
ATTBF subsidiary moves closer to Licensed Producer (LP) status. Experion, owned 25% by NVL, received a “Pending Readiness for Inspection” notification from Heath Canada, a final step before being awarded approval as a LP. Management is preparing to commence construction and will request inspection following the build-out in 6-8 months. We deem it likely that that a LP award could occur thereafter.
An MOU was signed with South Korea’s Global Damon Pharma to distribute and sell its proprietary PhytoNOS and Sassy Tonics in modified formulations. Deal could start generating sales in 2017.
ATTBF has jumped to the forefront of the Canadian Cannabis space, a market that should approve recreational sales shortly. Given the history of valuations afforded Cannabis stocks upon receipt of a LP designation, and the proposed valuations of new firms such as Emblem, a LP designation to the Experion subsidiary could be worth tens of millions in market cap to ATTBF, and that excludes the higher value of the NVL business. Thus, we reiterate our Speculative Buy rating.
Nice. Goldman includes a great summary of nearly everything we've been discussing here in the past few weeks with ATTBF development. Seems they believe it's going to 0.30(+).
Yikes! 0.005? That's over 3.5% and definitely explains why it's seemed harder than usual to get ATTBF orders filled.
Interesting, I'll look into this further. Thanks.
Ha ha. There we go again. 10K shares just traded at 0.136 and my buy order for ATTBF was open the whole time at a higher price. Anyone understand why this would be happening to me frequently? I rarely, if ever, encounter this kind of behavior with other MJ stocks, even counting the other Canadian equivalents trading on the OTC markets.
Trying to help with that and boost US volume at this very moment :)
Well I have a buy order in. Let's what happens. Sometimes on the U.S. (ATTBF) side, they never get filled, even after witnessing other trades at a lower price. Other times, I get filled at lower prices that don't make any sense, as 2 seconds later it's trading 5-10% higher. It's a strange bird.
So much red today, and OrganiGram is holding up like a fortified wall. Good for investors already comfortable with their position. Bad for investors that were hoping to add on the dip. :)
Either way, I'm not complaining.
We're swimming in the Red Sea today, folks.
Anyone buying or adding? I might. There's a couple others on my MJ stock list that are in free-fall today that I expect will recover and push higher within the next 1-2 months. It's that "kid in a candy store" feeling.
I don't believe Clinton, or Trump for that matter, have any strong opinions about the debate for decriminalizing marijuana. The amount of people rotting away in prison for commonly perceived harmless acts to society, such as being caught with large supplies of MJ with "intention to sell," includes a high portion of the black population. So yes, it's a good BLM entry point for her, and other politicians, to go after that demographic and snag some votes.
But in the end, yes, it'll be the states continuing to fall in line, altering criminal law for possession and use of MJ that will force the Feds to eventually alter the course of their ship. That's what will push ATTBF and other MJ stocks ahead IMO.
Well, look what decided to poke its nose above $12 again. Welcome back, Ford.
Looks like the pump is over, and the dump is furiously taking its toll. Diving back to 0.10.
Right, years ago it seemed the Big 3 would continue cranking out inventory until it piled up to the point that they could no longer live in denial. When the market finally sucker punched them straight in the face, only then would they halt production.
It's not such a terrible thing that Ford has learned from their mistakes. But I wonder if even the elite on Wall Street are caught up in signals of the past and reading this wrong, or at least overreacting. Stopping production in the past usually meant too much inventory, heavy discounts on the way, and often a re-evaulation of the market. Is it still this extreme today? Probably not.
Temporarily shutting down production is making investors fearful long-term. It started with the Mustang assembly plant on Oct 11. Then Monday we find out the F-150 plant in Kansas City is being shut down for a week. Then we hear production of the Escape and Lincoln MCK in Louisville is being discontinued for the next 2 weeks.
Add in some announced layoffs, and sure, people are irked. But what would you rather have them do? Continue production in a market that's saying "Hold on for a minute"?
Let's see what happens after the elections. If everything remains halted deeper into November, then I'll be more concerned.
Welcome to the lovely land of $3 folks! Or $2.30+ US, if you're like me. This thing has some juice.
Well wow! There's that momentum sending it soaring.
Congrats and GL to all who bought in.
They're hitting the awareness campaigns pretty hard it seems. That article today, "Abattis (ATTBF): A Leader in Canada’s Cannabis Testing Industry," was published as the Top Story on CFN Media Group's site.
Looks to me like they're back to being a CFN Featured Company:
http://www.cannabisfn.com/become-featured-company
If that's their approach, I doubt they'll be slowing down. So yes, I would not be surprised to see another PR or Abattis related article surface in a couple days.
Sure. And strict government mandates or not, if one producer starts touting the reliability and safe consumption of their product with certified proof, eventually all the others have to fall in line. Or to buyers, it starts begging the question "What's wrong with your batch?"
My goodness. The way this is roaring, you might see U.S. $2.30 by EOD ha ha. I liked the idea of holding on to this stock, but didn't think we'd rush past $2.00 (U.S.) so easily.
Impressive turn-around, yes. I thought this was going sub 0.002 for sure. Need some volume confirmation though. If momentum picks up, could rise back above 0.003 quickly.
Companies, probably not so much. Right.
Investors with a thick bankroll? I imagine there's some sitting on the sidelines right now.
From "420Meta.com - Abattis A Leader In Canadas Cannabis Testing"
"In July 2016 the Globe and Mail conducted an investigation into contamination in cannabis after purchasing products from nine storefronts in Toronto. Their research team found that one-third of the samples would not pass a Health Canada safety test. Three of the nine samples contained excessively high levels of bacteria and one not only contained mold but yeast at concentrations that could cause serious lung conditions.
Surprisingly, the Controlled Drugs and Substances Act prevented government-approved cannabis testing facilities from possessing any amount of the drug brought in by the public. With hundreds of illegal dispensaries operating outside of the MMPR program, this meant that consumers had no way of knowing if their product was safe."
So, 3/9 of the samples posed a noteworthy risk to consumers, 1 was downright dangerous, and there's potentially hundreds of dispensaries that could be exposing consumers to these risks.
Is testing important? Hmm you tell me.