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How weird that the company has aligned itself with others that are retail dinosaurs.
Reminds me of Blockbuster Video - an outdated business model and a tone deaf management team.
LMAO, not for legitimate companies.
Hard to believe anyone would actually believe that...or maybe it's convincing themselves that it works like that in the real world.
Have you ever gone to MJBizCon and talked to the guys at the booth?
10 minutes of conversation was all I needed to know this company is all about selling shares, which is evident in the OS and AS increase.
Nuff said.
See you at new 52-week lows...16M more shares to dump...which is why you see the huge short interest.
FRLF chart says it all and most are suffering buying the top from last pump. Merida paid a lot of twitter handles to help pump this garbage and it worked.
Down 90% isn't an advantage...
$1 is one of the most laughable claims I've ever seen on an MJ stock that has diluted 100s of millions of shares only to generate a couple $$ in revenue.
This turd will get pumped, but i'll be short-lived like every other Merida pump.
Short volume last two days of 60-70% says its going lower unless something major news drops.
10 month down trend...
Pain 250 provides the incredible pain relieving properties of CBD in a complex and carefully crafted tincture full of anti-inflammatory compounds.
I-L-L-I...
New low coming...
Stick a fork in her, cuz she's done!
100 kiosks mean nothing to the market.
WRONG...the MJ craze is a cyclical pump...educate yourself. 10 long months...
Nope, just down to $.11 per share as the pump ended long ago!
Merida will now have to find another newsworthy event to pump this garbage so they can unload their shares. Although this time you won't see nearly as much spike since they now have close to 100,000,000 shares to dump.
Because it was a pump and dump solely created for the benefit of insiders and toxic lenders. Buying at the top isn't a good strategy!
Out even, no sense in risking money on a company that clearly has no interest in achieving shareholder value.
Think most people are beginning to recognize that this company is nothing more than a poorly executed pump and dump.
IrieCBD website is littered with FDA violations so I wouldn't be surprised to see them announce a letter has been sent. You'd think Merida would have requested they revise the website considering the recent Curaleaf debacle.
No, absolutely no reason for $11M in consulting fees other than the obvious insider enrichment.
The class action lawsuit is proceeding and I suspect we will be hearing some follow-up from the plaintiffs' attorneys soon.
Yup, over 11M in consulting fees in FY2019, which is how your friends get rich on pump and dumps like Marapharm/Liht/Citation.
If you actually follow the paper trail, you'll see that all of the players were arms length.
The end is nigh...
Expect to see a merger or acquisition here soon...
Need hammer candle today with 500,000-600,000 shares traded today to show strength. Move should be into EOM with $2 target.
Wholeheartedly agree, profits are everything as is the case with all publicly traded company.
Problem here is two dispensaries, an incredible amount of debt, and a mall kiosk business plan is not my idea of a winning formula. Volume coming in now, I'll get in for a trade to $2 in short term.
Nilda will still get paid prior to the BANKRUPTCY filing...
Of course it will rebound, but not until management ends the relentless dilution. The Florida acquisition will not be fruitful for years to come unless they can quickly create a footprint before recreational is legalized. I like the Moxie acquisition as it provides revenue without the expense of brick and mortar retail, but the additional dilution will be another 100-200M shares which will frankly be the beginning of the end in my opinion.
Expecting another 52-week low. will buy at $1.25 USD
Been shorting it since $.80 pre-split as anyone who could read a financial statement or visited the Nevada facility knew this was nothing more than a pump and dump.
Pretty simple and it is all spelled out. It's unfortunate that management has opted for this type of expansion without proving the business model works first, which is something that good companies like Trulieve and Charlotte's Web have done (with little dilution).
In the end, retail shareholders get screwed, like usual. It is truly unfortunate, but "the rich get richer" for a reason...
You'll see maybe one or two small pops, but that's about it. I'd expect this to completely shut down by EOY.
THE LIES FROM THIS PR WILL RESULT IN COMPANY BEING HALTED INDEFINITELY:
provide the opportunity to build upon ACC’s successful CY2018 management estimated unaudited financial performance, where it achieved revenue of approximately US$7.9MM, gross margin of approximately 57%, and adjusted EBITDA of approximately US$1.0MM;
provide Citation with an approximate ACC management-estimated, annualized US$114MM in additional forward-looking revenue, at an ACC management-estimated, annualized EBITDA margin of approximately 25%, assuming the completion of all proposed phases and maximum operational efficiencies being realized, with an estimated capital expenditure requirement of approximately US$50MM;
All the tell-tale signs - legal language specifically inserted to limit liability for statements, unaudited financials, and Howard Misle (a failed cannabis entrepreneur).
Got a pass? Not according to the British Columbia Securities Commission and apparently the RMCP are now getting involved from what I hear.
So you have a DOUBLE WHAMMY - civil and CRIMINAL investigations ongoing.
FUSE IS LIHT FOR BANKRUPTCY 2020!
Market order sell for a whopping 2511 shares at .354, some guys will never learn!
Looking for upwards movement starting this week...
Accurate? It was in their MD&A report!!!
LMAO, seriously comical.
Where are those audited financials validating the claims of $11M?
I'll answer that - they don't exist.
Company wouldn't need to raise $11M if ACC had any actual revenue.
So sorry...try again!
ZERO REVENUE + ZERO REVENUE + FRAUD + SCAM = BANKRUPTCY 2020!
BANKRUPTCY IS IMMINENT...
Bzzzzz, wrong again! Cost per gram is one of the most important data points available for cannabis investors, especially for companies that are not vertically integrated.
I guess being right just isn't in your DNA since you've been wrong about MRPHF/LIHTF/CGOTF for about a year now...but who doesn't love being down 90% on their investment!
LMAO, got links to what? The BCSC has already started the investigation and considering they haven't given MRPHF/LIHTF/CGOTF a free pass yet I'd say it's more than likely the company won't be operating much longer.
It won't be coming, that's the unfortunate truth. This POS was solely created to enrich insiders. I suspect the BCSC will be shutting them down sooner rather than later once it is discovered Full Spectrum was never legitimately pursuing the license from Health Canada. It is all smoke and mirrors, ask the anyone from Celista as they now realize the wool was pulled over their eyes with empty promises.
One positive day is a reversal? LMAO, no way you could possibly believe that.
5X higher cost to sell one gram of cannabis then almost any other licensed LP or MSO per page 11 of the MD&A filed on July 26th.
The Company commenced operations at its Las Vegas facilities in December 2018, and as at March 31, 2019, the fair value of the Company’s biological assets of $204 consisted mainly of cannabis plants. The weighted average fair value less cost to complete and cost to sell of the cannabis plants was $5.84 per gram.
With only Nevada as their only possible revenue source, BANKRUPTCY in 2020 is inevitable.
CITATION IS LIHT FOR BANKRUPTCY IN 2020!
The MD&A report from July 26th is hilarious! No license in Canada (never gonna get it, never gonna get it), no more revenue from California (was solely acquired for purposes of pumping stock), and still almost no sales from Nevada!
Straight from the report...
Divesting of it's only revenue producing asset
The Company, through 420 Express Delivery dba Green Leaf Wellness (“Green Leaf”), is operating a dispensary in Desert Hot Springs, California which currently holds a temporary adult use and medical retail license. On March 5, 2019, the Company signed a letter of intent (the “LOI”) with respect to a proposed acquisition by Cannabis One Holdings Inc. (“Cannabis One”) of 51% of the Company’s interest in Green leaf. Under the LOI, Cannabis One will carry out a rebranding of the dispensary under Cannabis One's The JointTM banner, and has a right of first refusal to purchase the remaining 49% of Green Leaf. Closing of the transaction is subject to among other things, Green Leaf’s receipt of an operating retail license.
As a result of the LOI, the assets and liabilities of Green Leaf were classified as a disposal group, and as at March 31, 2019, the assets and liabilities of Green Leaf were reclassified to assets held for sale.
No revenue stream but look at the increase in all the "fees", which is just a fancy way of saying "we're stealing your money."
The increase in consulting fees was primarily due to consulting agreements entered into by the Company with certain investors who participated on the May 18, 2018 and June 11, 2018 private placements related to capital markets, M&As and other advisory services. The Company paid fees of $3,535 and $8,170 during the three
and twelve months ended March 31, 2019, respectively, related to these agreements. (See “Contingencies”) In addition, during the three and twelve months ended March 31, 2019, the Company issued an aggregate of
4.7 million shares at a fair value of $1,697 pursuant to consulting agreements and 1.5 million shares at a fair value of $405 in settlement of a contract with a former director of the Company.
Shareholder and investor relations increased by $725 and $384 during the three and twelve months ended March 31, 2019, respectively, as a result of the increase in investor relations activities primarily related to
private placements and acquisitions completed during the year.
Management fees and wages increased by $202 and $239 during the three and twelve months ended March 31, 2019 as a result of the appointment of a new CEO and the increase in management team from two during
the year ended March 31, 2018 to a total of four during the year ended March 31, 2019. See “Management Changes”