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Nice spot! DVR set.
Maybe someone can answer this for me. Not that I dont think the THC subsidiary isnt in better hands under Terry -- since he has been Lexaria's biggest salesman -- but remind me why the company needed to sell this component of their business in order to be Nasdaq uplist compliant? I am aware that the major US exchanges adhere to federal regulations...and we were told it needed to be sold in order to be compliant. Then why does it also seem completely acceptable for other already US major exchange listed Canadian companies -- HEXO, Canopy and Aphria -- to be "partnered" with US based companies and allowed to sell their THC beverages in states where cannabis is recreationally acceptable?
***I decided to asked the SEC commissioner...because if they are allowed shouldnt the same uplisting rights apply to the, publically listed (OTC), single state cannabis operators also in those states?
Drugdoctor, can you add the link to the New Cannabis Ventures SHWZ Investor Dashboad as part of the intro? I went to add it and when I go to 'Edit Intro' the current information doesnt load. I dont want to mess up any of your previous effort:
https://www.newcannabisventures.com/medicine-man-technologies-mdcl-investor-dashboard/
HA! I am done with my 3 total posts. There's no need to say anymore. You can keep misguiding people and preaching that this is a good stock. I will check back in 6 months, when this is still a turd, and your position has been divided by 20 or more.
Nope. I had expectations when IPOs were all the rage. Then after review I decided to hold off investing. I kept following to see if they would turn things around, and just when it looked like they might have started to look like a possible future player; with no debt, new products, they resorted back to their destructive ways. The extra $200M equity raise after being debt free was wrong to shareholders, but I thought maybe they are doing it to raise cash for industry consolidation/acquisition. Then they followed it up with news on another $400M equity raise -- that was on the table, off the table, and as of today back on the table. This really is the one that shouts "terrible investment". This raise alone is estimated to add another 608M shares! The writing is on the wall. I guess I will keep watching to see if they can put it together after a reverse split. If I was anyone sitting on a profit, I would take my money and go elsewhere.
Unfortunately you are missing the point. They have cash because of all the equity raises. Dilution comes at a cost. Fortunately it looks like it is being absorbed right now, but if this goes south it is going to go quickly. The other thing that you need to realize is, they have diluted to 1.1B shares -- and climbing. To get to $1 they will need a market cap of $1.1B, and for their entire history on Nasdaq they have not seen over a $1B market cap -- and that includes when their revenue was not in decline. It is completely laughable when people claim that this stock "deserves" to be $2, $3, $5 or $10. No it doesn't! This company might be lucky to see $50M USD in revenue for 2020. Carry out a 10x revenue to market cap and then divide by the known share count, and this company is currently overvalued. A $0.45 share count is warranted on a generous day. I think the reason why it is still hovering around $0.60 is because it appears cheap when looking at the share price and comparing it to other industry players. If, and when, they reverse split, and their price is recalculated to something that is comparable to their competitors, you will see this sink to where it deserves because they aren't producing the numbers to justify their market cap. Live and learn!
Crazy how this is still applicable today. Aside from the smoke screen of 'no debt', and along with the new F3 posted today, they could potentially release 1.3B new shares into the market since the 439M common shares reported in their 3rd Quarter Earnings report. Their best case scenario is hoping someone acquires them.
I wish you the best of luck. Gonna miss the announcements while you are away. Thanks again for all the chart screenshots and trying to educate those not so chart-oriented (but trying), like myself.
Thank you..felt the same. Always nice to kick it off someone watching the min-by-min and aware of what is going on. Now it is all on my trading app to acknowledge the transfer of funds.
Right, it's the consolidation price I am wanting to hit. You think if it does a dip before another climb...will it hit 2.30...or 2.25?
If this pulls back where do you think it will hit?
And then I spoke...see this is why I have been keeping my mouth shut.
You got this covered for all of us...you need no help! You are speaking to the stock...and it is listening.
Love it! Like a play by play announcer.
I am hoping for a pullback by Friday when funds hit. Probably buy a little then place a GTC or 2 if it drops to cost avg down. In terms of the industry, I expected the interest to flow from Canada to US to Mexico/Columbia...then lastly Europe. I think we all know who is buying right now. Just gotta get in before the news.
Dang, I looked away thinking I had more time only to come back and see it is 4x higher. I should have listened to your Dec post.
I havent been following the board as much thinking if I stay away for a little bit good luck might come. Did anyone else notice that ChrgD is out of stock? I know in a past, recent, release they were taking like they were going to get away from product development...I wonder if they are temporarily out of stock or if it is permanent (kinda like Turbo CBD).
Steven, the previous admin put that to shareholder vote. They told shareholders that it would be needed so that they could continue to make valuable deals that were part stock part cash for future acquisitions. Their previously authorized amount was 90M shares, and at the time (if I am remembering correctly), that was not even enough to close Starbuds.
Oh, I was with you on that. I know it is still early. I still am glad we moved exchanges. I was hoping the RS was not gonna be the full 30:1. And I am frustrated at myself for not trusting my gut. Fortunately I am investing with 'fun money'. Live and learn. Still believe in the tech...and in Chris. Like Heaps said, that I dont think Chris would have continued with the transition had he not known it will/would pay off. As Chris mentioned in a podcast I listened to (dated years ago), before LEXX he was an angel investor.
Pots, I assume this was sarcasm...as in you have been trying to point this out and were were the ones criticizing you for your negative viewpoint? If that is the case, I might have expressed a contrasting viewpoint but I havent criticized anyone for their viewpoint...with the exception of maybe Alexulf when he showed up on the scene in the second half of 2020 posting 2018 information.
It is sickening when you realize that had you sold your position and bought back after the uplist you could have had double RS share count.
I dont know why I convinced myself that this would be any different than a regular reverse split. I obviously missed the red flags...and definitely should have realized that it was gonna sink when there was essentially no publicity surrounding it. That it was a straight move, not IPO, and therefore not listed on their IPO board...which would have generated some form of attention.
Hopefully when this is finished I am left with a least a few bucks to purchase vaseline.
Ally Financial is showing a N/A symbol for my holdings but I am able to place a bid on LEXX. I know that they arent the fastest with their updates. I have seen this before with them and it took them almost a week to finalize.
Regarding LEXX, I sent another request to ihub admin. They were quick yesterday. As for the price...look at this board. 0.1288...makes sense why this is displayed regarding your recent post.
It ticks you off thinking that this company, and their RS, was going to be different. Here is hoping it is just a minor speed bump...but now I am really concerned that they were able to keep their 220M authorized shares. We are approximately 1/45th of the way there. That is a lot more to have to potentially stomach.
Lexaria Bioscience Corp. (NASDAQ: LEXX) (NASDAQ: LEXXW) announced that its common stock and warrants will begin trading on the Nasdaq Capital Market on January 12, 2021, under the symbols "LEXX" and "LEXXW," respectively.
Lexaria also announced the pricing of an underwritten public offering of 1,828,571 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock at a public offering price of $5.25 per unit (all prices in US$). The shares of common stock and warrants comprising the units are immediately separable and will be issued separately, but will be purchased together. The warrants have an exercise price of $6.58 per share, are immediately exercisable and will expire five years following the date of issuance. The Company has granted the underwriter a 30-day option to purchase up to an additional 274,285 shares of common stock and/or warrants to purchase up to 274,285 shares of common stock.
The gross proceeds of the Offering are expected to be approximately $9.6 million, prior to deducting underwriting discounts and commissions and estimated offering expenses and excluding the exercise of any warrants and the underwriter's option to purchase additional securities. In the event that the underwriter exercises its option to purchase additional securities in full, the Company expects to receive approximately $1.44 million in additional gross proceeds. However, there can be no assurance that the underwriter will exercise its option to purchase additional securities. This Offering is expected to close on or about January 14, 2021, subject to customary closing conditions.
All share numbers and pricing information in this press release reflect the Company's previously announced 1-for-30 reverse stock split of its common stock, which was effective at 4:30 p.m., Eastern time, on January 11, 2021.
The Company intends to use the net proceeds from this Offering for research and development studies, the patent and legal costs associated thereto, and general working capital purposes.
Any idea on when it starts trading? I assume it's at market open?
Yes, I am am worried about the fact that they will have 3M shares and are still authorized for 220M. That is scary to think of the possible dilution...however the company has done a good job controlling it while on the OTC...and had several times/reason that they could have in the past. My optimism is that the OTC was a slow bleed...and let's face it...going no where even though the company has released more news than a lot of the companies I follow. Not two weeks ago, I saw a Motley Fool article claiming a biotech stock was a good long term hold because they were recently issued ONE patent. Out of curiosity I reviewed the stock and it was up $3 on that news...ONE patent. US major exchange listing is not to be overlooked. Granted it is the companies job to get investors, at least the exchanges are backed by serious money...and the media outlets arent as shy about suggesting major exchange listed stocks as opposed to OTC listed companies.
I submitted the notification to ihub that the exchange and symbol was changing. I see it os LXRPD now.
one can dream!
...and has been.
My trading app stated upcoming earning due out 1/13...I am not sure how accurate that is but was also waiting for them.
The other thing to consider is that post-RS only 3M shares will be available. If these is significant news or investors waiting...which we all hope for...this could really take off. The hard thing for me is that I will always be dividing the new price by 30 to see what it would have been had the same interest happened pre-RS on the OTC.
How many of those reverse splits were to move from the OTC to Nasdaq? Most are done with the company remaining on the same exchange and used as a method to clean up the companies existing 'poor' financials. This is not Lexaria.
and the dump begins...
Funnier if you would have replied...Shawking.
Once 0.25 was achieved on Friday, I really hope that they are halted today and then a whole series of news is dropped, today, as an additional pump for tomorrow....and then re-released tomorrow post uplist.
...I doubt it though.
It would be nice if the range could still change...and that was also announced. The looming 30:1 is so much negative pressure on the share price, until tomorrow. For instance say today it spikes to 0.50...and ends the day there. I hope they decide that a 30:1 is not needed and a 15:1 is sufficient. If they arent halted today than any real gain today could be quickly countered by sellers who dont think the post-RS can maintain $7.50.
Also, what if it drops today and closes under $0.25? Anyone buying gets a chance to be in UNDER the 30:1 RS value...making their RS less impactful than the 30:1 occurring at $0.25...which doesnt seem right to already existing shareholders (or those with averages >= $0.25).
Just too many what ifs.
Yep Steven, that about sums it up. Just one additional thing, the members of this board have done (up to) years of DD, have company insight, are very good at keeping everyone informed and helpful in passing on their investing knowledge/chart reading abilities. We all know it is just a matter of time before this explodes...and hope your industry luck continues to play out here. Welcome.
Thanks for sharing! Terry has always done a fantastic job articulating the technology and doing so in a patient, yet completely, relatable and down to earth way. That is why when Lexaria sold off their THC subsidiary, in preparation of uplisting, I was confident that they sold it to the right company.
I dont know the companies specific numbers but Colorado was on pace to do $2.2B in annual sales for 2020. This is approximately half a billion higher than their 2019 sales. Roughly a 21% increase in total state sales revenue from 2019 to 2020.
SQFT is was the angle played by the Canadian LPs, in late 2018, and you see where that got them. SHWZ is vertically integrated. They are growing. They are fiscally responsible. If they have a problem it is that they didnt have enough cultivation to feed COVID demand. Their intent is to build a stronghold in Colorado before considering other states/being an MSO. Initially, I was game for them being an MSO, because MSO meant major player...and this is what investors are considering the "right play". However the more I have thought about it, and continue to think about it, the more I favor their SSO strategy. Colorado is a developed state, if not the most advanced in terms of legislation. It is second in revenue generated, second to California...I know, larger states will be coming online (like Florida and NY) that will probably/eventually move them down the list. The benefit of focusing on Colorado before trying to branch out is that THEY KNOW Colorado. If they prove their business model in a well established state they will be in demand....because as I see it, as more states come online it will be exciting to investors, but for operators it will be challenging. Applying for a license, acquiring/establishing/building out a business is going to cost A LOT of money. Then you add in the fact that this is new territory to the state/govt and rules/regulations/laws, tax laws, will all be different and fluid...a businesses worst nightmare constantly changing rules/regulations. For example, early on the govt of California practically sunk the smaller players with their constantly changing product labeling requirements. I believe the sit and wait on the sidelines play is the right one. I believe it is the fiscally responsible and shareholder valued move. Where the Canadian LPs had a cultivation land grab race that ultimately flopped (still flopping with all their quarterly 'write downs'), I think a similar situation will play out in the states. I think there will be overpriced acquisitions...which isnt JDs style. I think eventually businesses that operate in the new states that open, that arent acquired, will eventually be hard up on cash/funding. They will have products and market share and be looking for a better established, bigger player, with proven success, to partner with and help them succeed.
Sorry for the length...these are my constantly evolving thoughts.