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Yes, about 15 minutes before the close.
Man, that was some meaty presentation! That should get some juices flowing this week. Thanks, great find!
A 1 for 10 reverse split would be ridiculous. It would reduce the share count to less than 8 million and the closely held shares would decimate the float further. The volatility would be crazy and as you say, the volume would be minuscule. Historically, most reverse splits end badly for shareholders. Let's have some damn patience and wait for the superior technology and fundamentals to continue to evolve.
Knife, thanks so much for your effort and thoughts. It's always appreciated and informative. Still a lot of bumpy road ahead it seems, but we'll get there.
They signed a very interesting and promising deal with Universal Hemp last week. It has intriguing possibilities. More deals are coming, including those which may have an international flavor as Lexaria continues to expand its reach. While it's very understandable that we've become demoralized by the road to nowhere we've been on for the past year, it seems to me that the recent uptick in activity may be signaling larger, more profitable deals not too far in the future. Especially as more positive feedback continues to roll in regarding the technology.
Exactly. A little over a week ago we saw somewhat of a volume spike and I foolishly thought that might have been indicating a bottom. Wasn't so. The beat goes on.
It defies logic actually. As stockman said about a month or so ago, you would think based on the fundamental news this thing would have shown some life by now. Not looking for the moon yet, just a pulse.
Knife, what's your interpretation of the technical's down here? Thanks.
Frankly, your opinion means as much as a guy in a $2000 suit and $500 pair of shoes. Patience is the key commodity here.
I think it's the former. I think volume is moving in at the bottom.
Bunka has said due to the nature of their relationship with Altria, Lexaria is somewhat constrained in regard to what they can say. He did say however that there could be an update by the end of the summer.
Maybe if the recent very positive news continues to get regurgitated every day it can totally sap interest and give this thing the impetus it needs to break through .80.
It's almost unbelievable. The news flow has been very good the past several weeks, but all we get is a continued slow bleed. The attrition since the Altria deal defies logic. To me anyway. I thought it would put a higher floor under the stock. I thought it would generate more interest and have more companies sniffing around. They still could be, who knows? Still, the interest appears to be tepid at best. The volume is sick. Just no excitement here......yet!
Exactly my thinking. Been feeling this way for quite a while. The way this thing has been trading is totally counter intuitive.
The way this is behaving, I wouldn't be adding here.
You're not alone. Everything you say is valid. Maybe I went too far, but I sent him a very critical email and it pissed him off. I think everybody thought the Altria deal was the turning point, but instead we get this low volume drip, drip every day. Hard to watch this. From a purely logical standpoint, this price action makes no sense.
Chris Bunka responded to my email. It was a little difficult at first because the tone (my fault) of my initial email was a little over the top. We actually exchanged a couple of emails and smoothed things out. He's a quality guy. He's down 20 million on paper from the high. Of course he couldn't say too much. Like all shareholders he's disappointed it's taking so long to commercialize their tech and produce meaningful revenues. He assured me they're doing all they can to remedy that. He listed the companies accomplishments and on paper and they're impressive. He also made a good point about the Altria deal which we can all understand. They signed a deal with one of the one hundred largest companies in North America. Altria had more revenues last year than the entire legal North American cannabis industry put together. "Our tech was vetted by this industry giant and they have licensed our tech and agreed to pay us a royalty on any oral form of any nicotine product they make". As we know, the market gave them no valuation for this. If they had signed the exact same deal with Canopy, the market may have gotten all excited about it. He readily acknowledged they've been slow to the party, but I was left with the impression that these guys are busting their humps to make things happen. He did not address the ChargD+ delays and frankly I forgot to follow up on that. All in all I was left with a positive feeling and feel I have opened up a line of communication with him. Sorry nothing more tangible to give you.
I sent a detailed email to the company yesterday afternoon. The tone was harsh and I didn't pull any punches. About an hour after I sent it I received a reply from Alex Blanchard. He apologized for not being able to get back with substance yesterday because he was booked for meetings for the rest of the day. He said he would get back to me by today or tomorrow and address my questions and concerns. I'm busy during my days, but if I hear from him today I will share all meaningful information later tonight.
Very, very insightful and a reason to be extremely encouraged.
Hitting $10 tomorrow? Nice problem to have. Sign me up.
I'm losing my mind, lol. It's Altria of course. I'm going Freudian now.
The price action since the Aphria deal has been counter intuitive. I never thought it would fall back to this level. It's been three months since the announcement and I don't think even Kreskin could have seen this coming. Sobering to say the least. Wasn't looking for a rocket ride, but was expecting some stability in the price as we waited for new developments to unfold. Moves like a snail, but at least slow as they move it's forward. Patience, patience, and more patience.
I've seen this so many times before and then......BOOOOM!!
Two fake out Friday's in a row without any follow through. Looks like only significant news will move this thing. Some intriguing information contained in recent press releases. I'm confident they're not twiddling their thumbs. Something's coming.
Range keeps tightening. This is like a coiled spring.
That 1.69 was the Canadian price. Ted always uses LXX for the price.
That's true, but they never had a partner like Atria before, nor an announcement of the apparent Altria significance before. I know some have said that Altria's cash outlay is paltry and that's to some degree valid. However the magnitude of the relationship should not be understated or underestimated.
Would have never thought it would be languishing like this almost two months after the Altria deal. Lower now than where it closed the day before the deal was announced.
Right. I didn't expect this would be a big needle mover. What it does though is add another potential huge revenue generator to their resume. High blood pressure is an epidemic worldwide. Getting worse with the percentage of overweight people continuing to grow. The bees will come.
Likewise. Another very significant addition to their repertoire.
Volume has been building nicely the past few days. Nothing too exciting yet.I think this will move gradually higher as the very significant Altria deal becomes more appreciated and understood by the market. Eventually this thing will go BOOM!!!!
Nice action since Wednesday afternoon. Keeps riding along and bumping up against the highs for the day.
Nice! Thanks Agent.
Patience is key. I would be very surprised if this isn't one of the highest percentage gainers in the sector in the next next 12 months. Tabulated on February 1st, 2020. The Altria deal changes everything. Put a strong floor under the stock. I'm sure other companies have taken notice of the Altria commitment to Lexy and are poking around. Even more than just poking. More deals are coming. Perhaps sooner than later.
Very illuminating Shawking. Thanks.
We have to be patient. The Altria deal was a giant step forward. It validated what the company is doing. There will be more such announcements in the future. Possibly sooner than later. I agree the market action since the Altria deal is somewhat puzzling and disappointing, but we have a very good understanding of what the tech can do. Obviously Altria does as well. I'm sure the Altria deal sparked interest in other quarters. It's just a matter of time. When more things start to fall into place, this will move fast and hard. We have to be patient.
I think we're in a pretty good place. From splitting up the company into four separate entities, the superior technology, building a new facility, the patents with more to come, the significant recent hires and most importantly the forging of a significant relationship with Altria. That puts Lexaria on the map and as the tech continues to be validated, will enhance their ability to make new deals with various companies in many industries. It won't all happen overnight, but it will happen. Patience will be our friend here. The stock should gradually appreciate as more investors realize and understand what this is. The significance of it. Eventually, one day the stock will go BOOM and we'll be there. Altria has a market cap that is well over 800 times larger than Lexaria. As Ted Ohashi said recently it is quite an accomplishment for a company of Lexaria's size to negotiate and forge an agreement with a player like Altria. Very rare. The only danger would be if Altria's 12 million (or less) somehow should find the technology insufficient to do what's needed. Lexaria is very confident in there technology and there has been nothing so far to indicate that the tech will do anything less than what's expected. Everything looks great going forward.
Should be getting started right about now.
TRTC has always been a piece of junk and besides they had many more shares outstanding than Lexy before they did it, but I agree with you. It would be dumb to do a reverse split. Especially 1 for 5.The stock might become so volatile that some people would need a defibrillator to keep them breathing.
Knife, thanks for posting your thoughts on the technical aspect of this. Always interesting and always appreciated.