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It looks like the only volume at all is the conversions. If that's the case, Smokey, you are right about them propping it up.
It's a shame Ballas won't talk to anyone. I don't think in the two years I have been here that anyone has actually had any communication with him. Email, phone or otherwise.
I don't see anything in the fins to indicate they own any land anywhere.
That's a good start.
I’ve looked it up. I’ve probably stared at their financials as much as anyone here. Getting out wasn’t a rash decision, as I was in for almost two years. That 188m won’t last 4 months at the pace they have been going since mid 2017. That’s 4 months from the last fins, which is fast approaching.
That’s as of February. And they issue about 50m/month.
Actual conversation or voicemail?
They are almost out of authorized shares. At the rate they were issuing shares, I think I calculated they would run out in May or June.
They have a lot more debt to pay off. Historically it has been paid off by issuing 30m-50m of their authorized shares each month.
These shares decreased their debt by .001 per share, and were converted by the lenders at an average of somewhere between .01 and .02. Awesome deal for the lenders.
They would have to have a vote to increase the authorized shares (from what I understand). Although percentage wise, we can be pretty confident that the majority of those issued and converted shares have found their way into the hands of those that will vote in a way that ensures profits for the lenders, not regular shareholders like us. I don't know the rules about notifications of voting and such, but I'm sure we will learn all about it soon enough.
Otherwise, they would need to pay the debt in cash. Without digging back into the fins, I think it's somewhere around .5 million right now. (Remember, that .5m turns into 5-10m when the conversions happen). And again, without looking back at the fins, I believe it's all due by sometime in 2019.
Now keep in mind, they had the debt down to about 300k last year, and decided to go back to the loan sharks and borrow another 375k, with the same lousy terms, to increase the debt once again to around 700k. That went on the books as software development I think it was, or some similar vague expense that thus far has brought no value to the company or lead to the completion of any of the "projects" they like to pump each time a large conversion is upcoming.
A thought that just occurred to me, I wonder if they do the name/ticker change when they are out of shares, would that provide them the opportunity to get more authorized shares without a vote?
I don't fault you for doing it, but I have to wonder how frustrating it is to have been doing it for well over a year, even when the price was much higher, and yet here we are @.0083?
Sorry, I was referring to the original drop within the last few weeks. I don't think the stock price is reacting to the tone of the board. I think the board is reacting to the actions of the company. It took a bit for people to realize just how bad the last fins were, as the company just stuck the numbers in the report without addressing it in any way. Few people even noticed until it was pointed out.
In defense of the "bashers", nobody said anything negative when it initially dropped below .01. I made a comment about it a cpl days later, pointing out that it dropped on its own and not due to comments.
Awesome. Ask if they can give a similar update about acquiring more shares to pay that debt when the current A/S runs out? If they give a similar response, I may jump back in.
You will definitely make more money going with the MMs than against them.
Now THAT is an important question. That land sure would have made good collateral for a traditional loan, if they own it.
You are nicer than I am. I have no sympathy for them and no matter what they do in the future, it won't change what they did to the investors that waited months and years only to be screwed by Ballas' greed and lack of concern for those that invested in his lies.
Look at the weekly chart and consider how many people invested last year, watched it rise 2-300% at the end of the year (yay taxes to pay). Then what? Earnings come out feb 15 and within 1 day it's gone, along with a good chunk of the initial investment for some. Why? because this jackass needed to funnel money to his golf buddies with unnecessary, probably illegal loans. I hope he is bankrupted.
You are not wrong there. Buy between .0085 and .009 and sell +10%. Rinse and repeat.
Yes, finally enough people are seeing how sketchy this debt is. It's more than just a necessary evil, it's a 'legal' way for the company to move money to the specific people.
Ha, I was thinking that when I was reading Smokey's comment. The SEC doesn't seem to care what he is doing.
I have searched and searched, and have yet to find the relationship (aside from the loans) between Ballas and Common Sense Holdings. Something is there. It may not be Ballas himself, or it may be something that can't be discovered online, but I'm sure there is so much more to this story than we know.
I've been invested here off and on for years. Obviously I always like and want to make money, but unlike every other investment I have, I don't necessarily expect to make a killing here. A company like geovax goes public to raise money to fund life saving research. Their main focus probably is and probably always will be more humanitarian than entrepreneurial. The good news is that the two aren't mutually exclusive and they will eventually hit on something that translates into success on both fronts. In the mean time, I fully expect their decisions to be based more on what furthers their research above what makes the SP run to some astronomical number. I could be wrong on this, but that's the impression I have gotten over the years.
“We hope to announce our first acquisition in the next 10 days.”
Just starting to look at this stock again. Did they announce the first acquisition?
The best good faith thing they could do is replace Ballas. I would jump back in immediately.
https://dcllp.com/blog/2018/03/22/cannabis-legal-update-series-where-are-we-where-are-we-going-and-how-do-we-get-there/
"Bill C-45 was passed by the House of Commons on November 27, 2017.
It is currently being debated by the Senate. The Senate has referred the Bill to four Senate Committees, which are to deliver reports by May 1, 2018, with a further and final referral to Committee contemplated thereafter.[1]
UPDATE: The Senate adopted Bill C-45 at second reading on March 22, 2018 and referred it to the Senate Committee on Social Affairs, Science and Technology for further review. Widely referred to as “approval in privilege”, adoption at second reading does not constitute final Senate approval or conclude the Senate’s deliberations or debate on Bill C-45. Amendments may yet be proposed following delivery of the Senate Committee reports.
Senate Committees have completed several days of public hearings. Video recordings and partial transcripts of the hearings are available online. Preparation of their reports is underway.
A deadline has been set for holding a final vote on third reading of the Bill by June 7, 2018."
June 7th, right? I mistakenly said July.
I'd say with the Canadian vote coming up in July, that's a much safer play. Just about any Canadian Cannabis company should benefit.
'Bout time this thing starts doing what the chart is telling it to do, lol.
People are bitching because this news IS no news.
Not sure if both of these were posted.
https://heraldfinance.com/2018/05/ubiquitech-software-corp-otcmktsubqu-embarks-on-a-nationwide-rollout-of-cbd-edible-gummies-in-may/
https://globenewswire.com/news-release/2018/05/23/1510692/0/en/HempLife-Today-Experiences-over-200-Increase-in-Social-Media-Traffic-Company-Cites-Social-Media-Strategies-and-Increase-in-CBD-Awareness-in-the-Media-for-this-Development.html
The fact that they released a PR aimed directly at shareholders without even discussing it with, or warning, their new IR department speaks volumes on the aptitude of this management team. That is probably the most remarkable thing about this PR.
A year or two ago this PR would not have bothered me at all, except for the writing of course. It just bothers me now because it aligns perfectly with my concerns for what's going on with this company. As long as they don't do something to diverge from the worst case path I laid out a month or two ago, I will remain a skeptic.
Maybe. This is one case where I would be happier if it turns out I'm wrong. If so, I will probably get back in and make some money here. I just can't help looking at the trees. If I'm gonna invest in a forest, I'm definitely gonna make sure the trees are at least real.
Aside from the wording, which could be improved upon by any middle schooler, there is almost no info at all.
"We have positioned our Company to grow with the awareness of these products." That's the first sentence. Which products?
"When we started it was estimated that less than 2% of the general public was even aware of CBD and its many potential health benefits. Over the last four plus years we have set the foundation and even become one of the top five in the industry, and now we see our work starting to come to fruition and open up a larger universe of potential customers."
Set the foundation for what? Top five what, in which industry?
"Larger universe of potential customers." Potential customers always have and always will be everyone. How has that changed? Aside form now also including the Andromeda galaxy.
" We believe our greatest growth is coming very soon. We are well aware of everything happening in our industry and we have a plan to capitalize in a way that will make us stand out and last, and with our newest products coming online shortly we further believe we are successfully hitting the mark."
Hitting what mark? That's a forward looking statement.
"The Company also wants shareholders to know that a comprehensive overhaul of the HempLife Today(TM) Website and its SEO is currently in the process as the Company believes this is vital to capturing even more of the organic traffic and popularity of CBD derived from Hemp."
That's a reiteration of a previous PR about SEO, which means nothing has changed. Other than the 180 degree turn from last year when they basically said SEO was useless to them.
COO Luke Dreyer said, "Up to now we have concentrated on other areas of growth we thought more important, and that has served us well."
Those "other areas" are unknown to shareholders, unless he means the promises from the past like Crypto site that disappeared, SEO that hasn't happened, new products that aren't out yet. And how has it served them well?
However, we are now moving into our long planned SEO strategies, and will be announcing more about this in the weeks and months ahead. Suffice it to say, we have partnered with a group of experts that will not just take us to the next level, but to levels beyond."
Long planned? Up until recently they denied it was even important.
Basically this PR says "We finally realize that SEO is important and will begin to focus on it". They don't mention anything that everyone is waiting on because they don't have anything to show us.
The person that wrote this PR should be fired immediately.
This wasn't a panic sell. It was a planned conversion. That's why the huge bid earlier in the day. This quarter ends for them next Thursday. After that, they have about 5 months before we see how they are paying off that debt, since they are almost out of shares. Based on how it went down, the shares probably just moved from the left hand to the right. The price will likely move back up to .01 tomorrow and this will happen a few more times before next Thursday.
The good news for you and the rest that are still in it is that during that 5 months the price will probably run at least one time.
Convertible Share Holders. Which, oddly enough, also stands for Common Sense Holdings; the largest lender in the process of raping investors with their .001 conversions.
That 700k or so of remaining debt from the approximate 1.3m borrowed has to be paid. Up until now it has been paid with convertible shares (@.001). They are almost out of shares to pay with. They will have to pay with cash or get more shares. If they pay cash and retire shares, I'd get back in here in a heartbeat.
I wonder if the price being over .01 has an affect should they apply for more shares to issue. I really don't know how that part works, but the timing would make sense since it's being propped up like it is.
This quarter ends next Thursday, right?
Back over a penny! Hope it keeps going for you guys.
Who is Richard Davis? Never heard of him until you guys came here mentioning him today. If you tell us who he is maybe it will make sense.
That's like predicting more water to come over Niagara Falls.