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I guess the only positive is that this was green on 32k volume 2 days in a row. When some real money/volume flows in this should run rather easily.
On another note, seems like it's M&A time. Curaleaf appears to have countered the Canopy/Acreage move with a deal of their own making them the largest US player by market cap.
Watch this video. Acreages CEO talks about it takes more than 1 person to get to new heights...hence Jimmy and posse. He also used the words "largest vertically integrated", kind of like what Jimmy said..."co-founded Hempistry Holding Inc. that is on the cusp of being one of the largest vertically integrated hemp company globally."
We may well be Canopy/Acreage true competition. Having said that, Acreage has 58 million shares that they can use for more acquisitions.
https://finance.yahoo.com/news/acreage-holdings-ceo-on-34-b-canopy-growth-deal-i-had-an-obligation-to-shareholders-120050542.html
Exactly!
"Then watch this small forum explode with phrases of ‘I told you so’, and a lot of other BS to boot."
Not to mention an appearance by ClayTrader. LOL
Yeah, something is definitely going down. They are keeping their OTC Markets page updated. They just appointed Mr. Dieterich as an independent director last week and according to their OTC page they have Dieterich & Associates Law Office as their "Securities Counsel".
I've been trying to find info about reverse mergers, but it's kind of hard to comprehend, so I'll just speculate with my own theory. LOL
Say Hempistry is valued at $100 million. And they want to give us 1 share of Hempistry for every 50 shares of SGMD. There are 650,000,000 SGMD shares outstanding. 1:50 would make the new OS 13,000,000.
Now we can divide 13,000,000 new shares by $100 million valuation for a new PPS of $7.69
If you have 100,000 shares of SGMD you'd have 2000 after the reverse merger with a pps of 7.69
The key is how much the private company is valued at.
I hope this is how it works, I don't know, never been through one before, but it sounds good. LOL
I'd also believe that Hempistry would eventually hit $1 billion market cap putting the pps at $76.90. Ahhh, feels good to imagine.
**Halftime...LOL
Good DD akc and Front.
IMO, a reverse merger is about to happen with Hempistry then a Nasdaq uplisting.
You need to have an independent director on your board as a requirement to list on Nasdaq. They just appointed one.
"The Board has determined Mr. Deiterich shall be considered an Independent Director in accordance with requirements for independent directors set forth by major stock exchanges and regulators."
Pertaining to K&J Funds...
"In connection with the Financing, the Company and Investor also entered into a Registration Rights Agreement..."
A registration right is a right which entitles an investor who owns restricted stock the ability to require a company to list the shares publicly so that the investor can sell them. Registration rights, if exercised, can force a privately-held company to become a publicly-traded company.
https://www.investopedia.com/terms/r/registrationright.asp
K&J's $20 million investment is pretty much an investment in the reverse merger. As Front point out, John Vu appears to also represent K&J.
All just my opinion. I don't know anything for certain :)
(Back to basketball)
Too many hands in the pot. They need to follow the Canopy blueprint...One parent company and the rest subsidiaries.
Right now in this equation, there's a recreational arm, a hemp arm, and an equipment/supplies arm. With so much money to be made, you have to wonder if one would completely sell out.
I wonder what happens to the BOD of Acreage when the Canopy deal is finalized?
IMO, Hempistry should be the parent. With 23k acres potentially at their disposal, that's more than enough land to support hemp and recreation (once federally legal). Sugarmade provides the supplies/equipment, Hempistry provides the product, NUGS handles sales / distribution / logistics.
"Hempistry Holdings"
Have a nice day; time for an afternoon of NBA playoffs.
All good info. Thanks.
Patrick is still involved behind the scenes, IMO.
One thing's for sure, Jimmy is the man as he has his hands in NUGS, SGMD, and Hempistry.
Who do you think OWNS Hempistry?
Could Patrick own and John is the CEO?
The guy in the suit could be Patrick...
https://scontent.fluk1-1.fna.fbcdn.net/v/t1.0-9/fr/cp0/e15/q65/55594313_518803805315566_7460565588532789248_o.jpg?_nc_cat=109&_nc_ht=scontent.fluk1-1.fna&oh=76bb11ce7c3792a464a5aa32607eb5e5&oe=5D38ED35
Yeah, I noticed that.
First thought was he should sell and buy back SGMD shares. LOL
NUGS Portfolio...
Asher House Wellness
BudHire
Fitamins
Halo Filters
LYXR
Pure Organix
??Hempistry??
Okay. A lot of "who's on first?" LOL
All a mystery at this point.
I think I've found your answer. According to the following Linkedin link of Hempistry CEO John Vu, Cannabis Strategic Ventures (NUGS) is listed as Hempistry's "Legal Counsel".
https://www.linkedin.com/in/john-vu-esq-12a52434?trk=org-employees_mini-profile_cta
Hempistry has Jimmy as an "employee". Role: "Connecting the Hemp and Cannabis Industry to the Capital Market".
FWIW, Chenlong "Lawrence" Tan is still with the company as CTO. He only resigned as a Board member.
That's one hell of a tree. Just within the frame, that looks like a minimum of 100 pounds.
https://scontent.fluk1-1.fna.fbcdn.net/v/t1.0-9/fr/cp0/e15/q65/59203981_534634837065796_8330418898310529024_o.jpg?_nc_cat=108&_nc_ht=scontent.fluk1-1.fna&oh=7b1ef7105cd94d4876ccc4fabdf31495&oe=5D2F7F84
Hempistry will be the mother lode. Whomever partners with them will pretty much control the American hemp/cbd market. IMO
Let's just hope greedy Canopy doesn't get their hands on them before we have part ownership :)
Let's just hope they don't do a reverse split...the lower the price goes, the more I think that's an option.
A reverse merger would be better, but Jimmy's negotiations skills might not be that good/convincing...at least they haven't been thus far.
Hempistry will be the mother lode. Whomever partners with them will pretty much control the American hemp/cbd market. IMO
LOL. These fools have already been tagged with the "STOP" sign. Didn't take no time. LMAO! Garbage on the Nasdaq; garbage on the OTC.
This POS will be next to file for bankruptcy,
"We didn't see a path to sustainability as an independent movie ticket subscription service in the face of competition from movie theaters as they build their own subscriptions,"
At least Sinemia has the guts to admit they failed. Arrogant Ted just keeps hiring people and giving them unrealistic salaries. But I guess as long as they can trade stock, they'll be in business and offering salaries. Sinemia didn't have the luxury of being a fleecing publicly traded company.
Knowledgeable info...companies divided by US / Canadian.
https://www.newcannabisventures.com/cannabis-company-revenue-ranking/
If 4 successful harvests a year that could put NUGS in good company at roughly $35 mil per quarter.
Yup!
"...cultivation, manufacturing and distribution"
Huge!
Simon seems to be way ahead of the game verses Jimmy. Simon is action, Jimmy is all talk with his fingers crossed hoping it works out.
6 acres is decent (action) - Simon
Intent on buying supply companies (talk) - Jimmy
Went through previous filings, and this is the first time I've seen "OTCQB Certification - OTCQB Certification". So it appears to be freshly filed and waiting for approval. Once approval is granted, should see a nice bounce, IMO.
Land is key in this game and they have it. Hopefully they can acquire even more. Canada's major producers are working with a minimum of 1 million sq ft (roughly 23 acres). If Simon can work both sides (hemp* & MJ), watch out!
*Hear he has ties to Hempistry.
6 acres (260,000 sq ft) is just the beginning.
Canada had its turn, now it's time for the US to take over.
Was checking OTC for latest share structure when I came across yesterday's filing...
https://www.otcmarkets.com/stock/NUGS/disclosure
https://backend.otcmarkets.com/otcapi/company/financial-report/217617/content
And yesterday they filed to uplist to the QB.
Meanwhile NUGS was up 70% today off of this news...
https://ih.advfn.com/stock-market/USOTC/cannabis-strategic-ventures-NUGS/stock-news/79763847/cannabis-strategic-ventures-plants-20-000-cannabis
The Pink sheet is outdoing the QB stock
K&F might as well just write the check to Tan?
Maybe he has good credit and plans to get a loan when the SAFE Banking Act passes and/or he has ties to Chinese business people looking to get into the American hemp market.
The $20 million is more than enough. Hempistry will be huge if/when they pull it off.
I wonder if there are any other US/Canadian MJ companies out there sitting on 23,000 acres?
What do you make of this? Is the Bizright deal dead, or the less hands in the pot (no pun intended) the better?
So $20,000,000 divided by 138,000,000 shares values the share price at .14
I guess buy when the financiers are buying (which is at these current levels) and sell BEFORE the financiers dump.
Last sentence of the filing...
"Neither the Investor, nor any affiliate of the Investor acting on its behalf or pursuant to any understanding with it, will execute any short sales."
I don't think it will be all at once but in slow increments. If they drop $20 mil just like that, their buying hundreds of millions of shares. THere aren't that many shares floating around to my knowledge, much of them are restricted.
I've said it before, but this company needs a name change. It's obvious that the first thing that comes to a persons mind when they see "Sugarmade", is some sort of sugar producing company.