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First green day since 6/24 when it hit 0072. The MM action today is first sign of bottom or reversal. Could hit a new low under 0022 still but I think people will be loading heavy if it does. Won't take much more than average volume to buy all the MM shares and make the price go higher.
I've been expecting them to back off a bit around the low 002's, and it seems they are now. But tomorrow they could be back in action at 0022 or 0023 who knows. At least they don't dump shares, they just suppress the price which causes others to dump their shares.
On the breakout board. However long it takes, buyers will come in eventually putting 100-200m buying volume pressure in a single day. Could go to 0008 or 0010 or higher in 2 days. Could drop to 0003/0004 first, or could stay here with 0004 being bottom. But now we will have more eyes on the stock as it's on the BoB
AXIM news is because of a covid test. That puts them in a different sector, a very very hot sector unlike MJ/CBD. I know CVSI is way undervalued, market way too low, but this stock isn't gonna rally like AXIM unless they announce some sort of covid test or vaccine.
I don't think there's enough shares out there to have enough sellers to dump at 0004's or 0005's. Definitely not 0003's. There was only 130 mil shares added, there's no major dilution to keep this down. The 6 month chart looks too good, and all this needs is some eyes. Once it moves to 0010, which will only take maybe $30-50k in total cash, it will get on the breakout boards and get more eyes. The share structure is primed for a relatively easy rally where we can see 200-500% gains or possibly even higher on a relatively low volume push. There's groups of people out there that do that to these stocks and this one has a history of big spikes in price. Already got attention day before yesterday and hit 0008. I think it's gonna pop up to 0012-0015 very soon and then back down for a bit to 0009. Of course it all depends on volume and whether or not news comes out.
I think 0006's may be most people's chance to get in at the bottom before the next run however big it is.
Now? It has been for weeks, maybe months.
Better load 0006's, 5's are not being sold when a possible run is starting.
0004-0007 is not a pump, that's the start of a pump. And no dilution, look at the O/S update it's exactly the same. That's why there was buying today. Once it breaks over 0010 or around there, it'll be thin and going higher will be easy because there hasn't been any new shares. This can easily go to 003 in 3 or 4 days before the dump.
This will appear on the breakout boards and gain more attention next couple trading days. Could go to 0020 or higher over 2-3 days. 0 continued dilution, market cap less than 1 million. Prime stock to pump up for no reason other than it can move fast. Chart shows multiple huge rallies. This will likely close .0010 -0012 today and higher Monday.
It hit 0033 today not 0030. 0 shares sold at 0032. I got my 750k order filled at 0033
Yes I remember those partnerships. I don't remember what revenues they got out of them, but I do remember them terminating their agreement with sriracha with reasoning being low profitability and wanting to focus all business on the cannabis industry (Bizrite), which they did. The other companies like hydro4less and sky unlimited were acquisition targets, they intended to acquire after Bizrite.
I believe all we have to go by regarding Budcars is this 8-k filed on Feb 10:
" On February 7, 2020, the Company signed a definitive agreement (the “Agreement”) with with Indigo Dye Group Corp. (“Indigo”) with a mailing address of 5600 Warehouse Way, Sacramento, CA 95826, the operator of BudCars Cannabis Delivery Service (“Budcars”), which provides services in the Sacramento metropolitan area. Under the terms of the Agreement, the Company will purchase a 40% stake in the Budcars operation for a cash amount of $700,000, and will receive an option to acquire an additional 30%, which upon exercise will provide a controlling stake in the operation for the Company.
Budcars operates its delivery service in strict adherence to all state, local and municipal regulations and is fully licensed for operations by State of California regulators.
The $700,000 investment will be exclusively utilized for business expansion and operational purposes with zero funds used as consideration for the share purchase to the owners of BudCars or Indigo. Sugarmade plans to apply its operational expertise to enhance the business operations of Budcars, including geographic delivery expansion. In addition, the parties plan to enhance business operations via advancement of strategic vertical integration in order to improve product selection, product quality and profit margins.
The transaction is considered closed with the Agreement being binding on the Parties. This stock acquisition represents Sugarmade’s first action relative to its recently announced change of business direction toward higher growth areas of the regulated cannabis sector. "
I don't know if this means they are getting 40% of the profits as of that date, but we will have to wait and see on the 10-k.
As for the dilution, who knows when it will stop? I imagine they will be able to not only stop issuing further notes and refrain from a R/S, but also return shares in a year from now. I hope after the LA expansion they don't announce another expansion or acquisition until adding shareholder value through the share structure, because if they continue to dilute you would be correct and the price will not hold any gains.
LOL no he didn't. He doesn't know what happened. He's clueless just look at all his recent posts. Only myself and a small group of others know why that revenue was not in the 10-k last year, because we've been following the company for 3 years. I've even been to their office in Monrovia. The revenues WERE IN FACT being booked - in the books. That was not a lie. However, when it came audit time, the auditor would not allow the revenues to remain in the books because the deal was not finalized - they still owed BZRTH a sum of cash and the auditor said until that was done, they could not recognize the revenue as their own. It was what I call a roadblock, one of many the CEO hit. In other words, SGMD was a complete failure. I was upset when they ultimately cancelled the acquisition they worked on for 2 whole years, but now it seems the CEO made the best decision of his life switching to a simple business model where there's unexpected high demand. The past is the past, everyone must move forward - but this is not a scam and the CEO does not lie, he just made several forward looking statements in the past he thought were done deals. In fact some things he said have actually come to fruition - such as improving their accounting department. They used to be late an inaccurate all the time with their filings, now since early last year, they are on-time and accurate, maintaining their QB status.
This might be one of the most underestimated companies on the OTC - people think there is high risk but the way I see it, extremely low risk with very high reward.
10k Sept 30- Oct 15. Probably Oct 15 assuming they file NT-10k again
They are facts, you just have to know where to look to see it.
Good news --- the dilutive selling today is much much less than all previous days. So far only about 4 million volume was from a MM that normally sells much more. More than 75% of the day so far he is not selling anything, only showed up twice with about 2 million shares each time. Currently all the shares for sale at 0037-0040 is from regular people. Good chance we climb higher with just average volume.
Not a scam, everything they are saying is real. It's a very simple business model of selling and delivering a product that people love and consume on a regular basis, right to their doors. SGMD already had all the business connections they needed to make this happen before the acquired Budcars, which was all BEFORE Covid19 hit the US. Demand for cannabis has skyrocketed when the pandemic hit and the stay at home orders started. They are in the right place at the right time, and making big profits because of their luck in timing. Their growth is probably due to excellent product and service and increasing customer base with repeat orders. I believe the large margins are from their connections to top quality product they get at a massive value. These are numbers you can chart out, which obviously they did in order to release the mentioned revenue projections.
But this is all new revenue. They still have outstanding notes which are obviously being converted on a daily basis. I expect it to eventually stop because they won't need that type of financing now. They only need money to rapidly expand, no doubt they are using all their profits but need more in order to become a much larger operation. We are looking at massive continual growth. The big move will come once things are proven in their filings.
x100xPercent
I'm both long term and short term on this stock. It's smarter to trade some shares short term when there's ongoing dilution.
All the news you're mentioning is all very recent news. They already had a June update, it's only 2nd week of July. All they need to update us on is material changes or events, and quarterly and annual reports. Talk about impatient, wow. I don't think an update is needed until 10k in 2 months, but we will likely see several before then.
Until the company proves their success, expect a volatile stock or wait for the big move.
Don't post crap like that on this board, not even if it's a good stock.
CFGN stopped holding stock down after the dip.
A/S increasing by only 100m? LOL what a fantasy, that's only 20%. Will likely go to 2 billion at least.
That makes sense because most of the shares for sell are from CFGN, who is always on the ask. Shows 50,000 shares but is really unknown millions and he is there every day.
Dilution seller every day keeping it down.
Another day's battle with the big seller CFGN. Waiting for his absence to double my position.
All these pumpers in here... bad sign. Almost everything I see is pointing to more down over the coming weeks with minor spikes up in price some days. Ongoing battle with dilution. There's not a lot to make people hold their shares at the moment.
We already got the neww they are opening in LA.
Not entirely true.... it's really just one - CFGN. He has had endless shares to sell the past few weeks. The day he was absent completely we went up to .007, the run up before that we had very high volume to buy up his shares. Without high volume, I don't think we will be able to move up. Today random people sold and kicked the price down, then CFGN showed up at .0044 and we cleared him out once, but he showed up again at same price. I think the more shares he wants to sell the lower he will put his ask price after traders kick the price down. When we have more buying volume, he moves his price up. I think unfortunately the price will go into the 30's this week. I recommend not being all in at the moment, put some buy orders in at lower prices. Any news updates that may come out in the coming days/weeks probably won't be anything really great, next big thing to look forward to is the 10-k not due for 3 more months.
Form 1-A filed after hours.
What company is that?
What MM is CFGN? I don't remember ever seeing that MM on L2. Shows 50,000 shares at .0032 but it's actually in the unknown millions quantity.
Also, at current price the market cap is less than 4 million. This is way undervalued even for the revenues theyve had for years. The price is only up 90% from rock bottom, there's a lot of room to run. It will go up and will likely be very soon, this stock is a no brainer IMO, people will hold their shares for a nice payday. This company is also a QB and penny stock exempt, and they know how to get the accounting done right. Fully reporting and they pride themselves after past failures on being on time with their filings.
I plan to hold a big chunk if my shares until Jan 1. It will pop up big more then once before year's end.
That's for authorized shares. Outstanding shares increasing is dilution. Also before the AUTHORIZED share increase they didn't even max out the 1.9 billion, no reason to think they will max out the 10 billion at least not any time soon and not necessarily for funding. I believe they plan to use it for many reasons and with an increase they can acquire other companies which they have lots of experience doing. You would know how they use their shares if you were following them closely for 3 years.
No evidence of dilution until O/S is updated. There probably has been some but not necessarily most of the selling going on. Penny stocks simply move this way very volatile. There's players out there trying to trick people. Nobody ever knows who is buying or selling, can only speculate until told otherwise. The last o/s update was 5/31 and it was at 1.3 billion.
Keep in mind they are likely really making a lot of money as they say. Cannabis demand has been sky high since coronavirus, they started this business before it hit. They got lucky getting into this new business model not knowing demand would go up so much. You can see the excitement in their pr's. All this needs to really go up and hold gains is for the next 10k to prove their revenues and profits, and for the O/S to stay under 2 billion the rest of the year. They may not need to dilute at all in the near future and we can see .02 or higher.
Market cap back down to 5 million area, WAY too low.
This can go up so fast it's not even funny. Smart buyers waiting for it to calm down so they can kick it up quickly and easily. We want to see low volume and price holding at least high 20's for 1-2 days. Unless of course it just happens sooner. Either way I see huge gains ahead for a very short wait.
Buyers will win this fight to get back up. Maybe not .005 very fast but at least into green. Why? Because there's more reasons to hold this one vs others that have ran and gone back down. SGMD has run up previously to 004 and down to .0016, but they didn't have a lot going on. They had just abandoned their 2 year in the making business and went into weed delivery. But it's working, because of the huge increased demand for cannabis delivery due to covid19. They are making bank, and their market cap is too low. People will hold their shares for higher prices. Sure it might dip down more, maybe 0025 I would guess if someone decides to dump. But it's going higher very soon, probably today or tomorrow. In a few months should be somewhere between .01 and .02. Lot of reasons to hold this one!
I'm guessing OWC appears on breakout board tommorrow.
Really? Well I spoke with Ritterband today, he said the same exact thing.
Don't care about filings or ceo's or the company being dark or anything else except the share price, volume and chart. Fundamentals don't dictate short term price fluctuations, only buyers and sellers do, everything else means squat.
Market cap still too low at 0050, and we are back down to 0030. Will be going back up, hopefully it'll be tomorrow.
I could not get more than a few thousand shares filled at 0092. I just bought .01, probably gonna pop any day now at least 10-20%