Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
FDA is supposed to respond to the company within 10 days, but not necessarily with the result of the application. But I'm hopeful their first response is an actual approval
Should be getting an update on that EUA approval for their test kit this week.
Just hit 0005. That's the bottom
When everyone is done bailing out the buying will start
Thank you
What is going on with this company? Some sort of news sparking this?
I know this is going back over .01... yesterday it was brought down single handed by 1 seller selling 5 million share blocks (about 45 million shares). Today was the follow-up panic/emotional selling. Tomorrow and Thursday will probably be the correction from the over-selling, should go at least 0011, we will see how much buying there is but doubt 0007s will be dumped.
Unfortunately that does not help much. They still need to meet requirements for 3 years straight and they don't meet them at the moment. Lot of talk about NASD uplisting penny stocks on ihub, it's all BS
O/S probably about 3 million right now. Need another update to account for the last 18 days.
A company needs 3 years of a combination of revenues, assets, no negative cash flow, etc. So 99.9% of penny stocks cannot be eligible for nasdaq for at least 3 years. BYOC is no exception. If they are a huge success this year, they probably have 4-5 years realistically for a small chance of uplisting to nasdaq.
"Companies can be removed from the cash flow requirement of the second standard if its average market capitalization over the past 12 months is at least $850 million and revenues over the prior fiscal year are at least $90 million. "
Please sell 0007's and 0006's!
You forgot to mention the 70 million annual audited revenue requirement for nasdaq along with other requirements.
There's no news out
2 more 5,000,000 blocks sold. Still just 1 seller dumping.
I think it was 1 seller, because exactly 5 mil shares were sold 5 times. So if that seller is done, it prob means I won't get my 0008's or 7's filled :(
TY so much seller for the 0009s!
10q out. Almost no loss this quarter, first time only -80k instead of 1.8 mil.
Something will eventually happen to make the price fly, because Jimmy locked up his own shares right? His own personal success depends on the SGMD stock price going up right?
Starting to break out now I think.
Sold almost all my shares for a nice profit. I think it's going back down before going over .003
No it's not LOL. It's still low as it has been.
I loaded up. This is highly likely to run in the coming hours/days. The last 2 times it ran are both on the 6 month chart, and both times the price TRIPLED. If it happens again, we will be at $1.50+, and this time might run higher or hold gains better.
See? Up 47% boom no problem. No news needed. It came down for no reason, no dilution so it's just gonna go up for no reason. Today's move will attract people to the stock. Then they will look at it on otcmarkets.com and see how fantastic and undervalued it is. They will see how every year is better than the last. There's reason to hold shares for multi-pennies that can come so incredibly fast if enough buyers come in. We could easily see close to .03 tomorrow, that would only be about 100% gain - easy for a stock with a share structure like this. There will not be many shares for sale so price will have to go higher to supply the demand.
Loading time tomorrow if volume is still weak.
x100xPercent
No we don't, it will move on up it's own as a natural correction. There's nothing that needs to sell this stock, it just needs attention. They already announced record sales recently. The market cap is way too low for a solid company with a clean share structure and consistent financials. Should be holding .03-.05 area, all that is lacking is volume. This stock can quickly move up on low volume because there's no dilution.
Interesting.... MM's back off when they see regular investors want to sell. That seems... fair!
LOL, you should sell your shares.
LOL you really believe there are 900 licensed cannabis delivery companies in that area? Maybe 5-10.
50% gross margins, meaning they make 50% profit from every sale. They had $1 million in sales for the quarter so approx. $500k was profit. Don't know if that excludes taxes, but still they are profiting. The overall operation is what they are saying is negative, but that is okay AND expected. Look at 90% of stocks out there in their financials, most of their operations are negative. Again, this is EXPECTED because they are currently rapidly expanding. As I mentioned in a post I made a few days ago, they will likely not show net profit as an operation for another 6 months to a year, after they slow down on growth, maybe even longer. But that is not even close to the determining factor of where the stock is going.
x100xPercent
Milo, I've been following OWC for 3 years now, trading it and investing in and out. I read all posts on this board from those of you who can be trusted. Again, I appreciate all that you do for other investors here and respect you.
I have little experience with these things so I pretty much just sit back and learn. My expertise is more in trading, general cannabis knowledge and trading cannabis related companies. With that said, I want to throw something out there that hopefully sticks with you in your future communications with Mr. Turner...
The way I see it, the very best way to get the stock price up will be with hype surrounding the companie's greatest asset(s). Right now, it's the skin cream. In the future, it might be the MM tablet but that's a long ways away. Recently you mentioned that Ziv has great confidence in the cream. They already proved its safe, but haven't proved its effective. But it exists and may indeed be highly effective in treating psoriasis related symptoms or more.
I highly agree no R/S is needed. Just an announcement of no R/S combined with selling the cream will put the share price above .10 in only a few days.
If there's any way possible to attract investors by somehow demonstrating the cream's effectiveness, just getting it out there on some shelves, I think that's where all focus should be. People like to believe in what they can see with their own eyes. This company needs those types of investors that believe in the core of a company, the product and it's potential to make millions.
I was happy to hear from you that Ziv wants to generate revenues ASAP with the cream. That brings hope here, buy why doesn't he want to use it to get the funding and investors? Why can't we ourselves obtain a sample of it now that it's patented? Why can't it be passed around and shown to the world, and be sold to the highest bidder (per se)? If it works, it's going to work without side effects because it's just cannabis, and people will want to invest long term solely because of the product they found and love. Put a PR out about how well it works and the stock will fly. Some big company will find out and offer multi millions, but only uf the cream isn't "locked up" in some lab waiting for phase 2 trials.
My Dad has psoriasis, and would probably gladly treat it given the ingredients and the fact that it's safe, but he will probably never see it is my guess. So therefore we will not be investing.
I hope maybe some light can be shed here. Now that there's a patent what's the hold up? Thanks!
x100xPercent
Personally I am enjoying all the dilution here, as a bullish trader on the stock. It's so obvious to me everything that's going on here. IMO this is a good stock for both flippers and longs, as long as you are in under a penny. As Jimmy Chan said, the stock price will eventually reflect the company's true value. But right now there's too many notes and too much need for expansion. They are now making the right moves, but the past is still affecting the stock. Back to my original statement, the dilution to me is a good thing, because it only gives repeated opportunity to buy back shares at cheaper prices after selling at higher prices. The stock will continue to spike up with volume and continue to drop lower as long as there's dilution, but in the long term, I think 1 year or less, the dilution will stop completely and the price will be allowed to fly. People will not hold their shares long until there's reason to truly believe in a higher share price. Need proof in filings, long time to go before we see that.
True, he doesn't even understand the test and it's importance or uniqueness so he's underestimating the moves the stock makes and how much interest there is here. Sounds like he's desperate to be right because he probably sold way too early for beer money. He has some good points and experience but he's posting way too much and showing a lot of emotion and bias, so he probably does has an agenda- trying to make more people sell. He thinks he knows how the stock will move but nobody does.
The buying must exceed the dilution. Haven't had the necessary volume all this time since it started coming down. The MM's are controlling the shares they are selling as much as possible - they are not ever selling on the bid, only hiding the countless millions they have to sell on the ask. Any time the price goes up a little, they take advantage and continue to load their shares on the ask. They are suppressing the stock, but they must convert shares to make their money back. This is how SGMD is able to fund their operations - when you buy the stock you are helping the company to keep going and keep expanding. The pumpers here are helping to keep the price from dropping to new lows, the volume must stay at these levels to hold the price up, and it must increase significantly to make the price go back up. If the price keeps dropping, which it likely will if volume doesn't pick up, it will eventually come back with a vengeance as it always does, because the company is making good money now. As long as the cash keeps rolling in, and the company makes good moves into the future, the market cap will eventually catch up to what the company is worth. But there has been no O/S update for almost a month, and the O/S keeps going higher (dilution), so this is what you are seeing every day. It's not a good idea to hold a stock too long if that stock has an O/S that keeps going up.
Completely different type of test.
Milo and 2 others on this board are the ONLY people's words I trust. While some newbies come on here thinking CBD products are competition, among many other things showing they know very very little about the company.
Market cap way too low for revenues and profits. Share structure is great with no dilution problems... the O/S remains way below the A/S. They recently reported best quarter ever. Cannabis demand is high during this pandemic. Price should not be .01 or under, should be .03 or higher.
50% margins is very good, the net profit will come when they stop expanding. But they are still small and need to open more locations, so they will most likely continue to advertise and grow as much as possible. Net profit is hard to find in most companies, this does not matter that much, right now all we want to see is the money coming in and proof of it.
frontloading, I think the agreement Jimmy Chan has with Budcars is enough to at least get cash from the revenues. The entire business is all in cash, there are no banks yet that will serve cannabis businesses, so I imagine that 40% is either going into the business itself to open the LA branch, or they are using it for something else. Whatever they are doing with it, won't there be evidence of that on the 10k somehow? Either as cash, assets, or something else other than investments if not in the revenue section? I appreciate your informative posts.
x100xPercent
This is not on the breakout boards, but it's definitely on mine and I started a sizeable position. Should see minimum 40% gains this week IMO. This news obviously doesn't seem big yet but it is big news.
Can you provide a link showing that Jimmy Chan has billions of shares and that he can sell them?