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This is the weirdest stock. The tweeting today was weird. The mispellings, like "yeild" today make me wonder. Looks like he even spelled his name differently on April 24 than he did on April 20. I guess all that weirdness is baked into the stock price.
Today is the last day to submit comments, if you've got anything to say.
http://www.bmcr.ca.gov/laws_regs/mcrsa_lab_notice.pdf
http://www.bmcr.ca.gov/
BUREAU OF MARIJUANA CONTROL
CALIFORNIA CODE OF REGULATIONS TITLE 16, DIVISION 42
MEDICAL CANNABIS TESTING LABORATORIES
NOTICE OF PROPOSED RULEMAKING
Notice is hereby provided that the Bureau of Marijuana Control (bureau), formerly named the
Bureau of Medical Cannabis Regulation and the Bureau of Medical Marijuana Regulation,
proposes to adopt the proposed regulations described below after considering all comments,
objections, and recommendations regarding the proposed action. The bureau upon its own
motion or at the instance of any interested party may thereafter adopt the proposals substantially
as described below or may modify such proposals if such modifications are sufficiently related to
the original text. With the exception of technical or grammatical changes, the full text of any
modified proposal will be available for 15 days prior to its adoption from the person designated
in this Notice as contact person and will be mailed to those persons who submit written or oral
testimony related to this proposal or who have requested notification of any changes to the
proposal.
Meanwhile, the number of active grow licenses in Oregon just reached the 600 mark. There are 20 labs.
http://www.oregon.gov/olcc/marijuana/Documents/mj_app_stats_by_county.pdf
Is that all he said? Thanks.
Financials were released today. Much improvement.
But, lots of tired investors here.
This article mentions the regulatory bottleneck that exists in Oregon, which has prevented hundreds of potential growers from needing lab services. They'll grow and become customers someday, but the sooner the better.
http://www.wweek.com/news/2017/06/08/oregon-economist-projects-cannabis-sales-to-rival-colorados-but-admits-the-forecast-is-highly-uncertain/
edit: Sorry, I didn't mean to reply to you specifically.
I didn't have time to read all of that, but does it say that when county health departments are doing inspections, the state will pay?
They could, like in Oregon, reduce the regulations over time so that it's less burdensome on industry.
Mags.... i think your logic is not correct on this one. If the state imposes requirements on school districts, as you cite, yes it makes sense that the state would provide funds for the local government entity to comply.
In contrast, when a state imposes regulations on businesses, it is up to the free market to determine whether businesses still want to try to be in business. Imposing regulations on businesses is one of the governments' jobs, whether people like it or not. A school district does not have the choice to just close up shop and seek opportunities elsewhere.
Your example of funds to hire government police officers is not at all comparable to regulating the recreational cannabis industry, IMO.
There was talk of dividing California into segments. I assume they'd want labs in at least the Bay Area, Humboldt, LA, San Diego, and Fresno (in addition to Yuba City).
These labs will use the playbook that SGBY has been refining in Oregon.
They need to create a team for each of these places. I bet these are new labs and not acquisitions. The Lab Manager may have the job of scouting real estate, getting local permits, overseeing any needed renovations to commercial space, and hiring staff. Each lab also has a chief science person who is in charge of making sure the lab can get approved by the state.
They want their administrative assistants to learn how to be managers so they can open up labs in new states when the time is right.
This is all speculation but I think my conclusions are right.
I'm gonna take credit for starting this rally. This employment news is huge.
I think you'll be rewarded for that. I added some at 0.0132.
They're hiring ~25 people!
Folks, Guess who is hiring 25+ people. You get one guess.
He either meant to say up 25% instead of 125% or he meant to say revenues are 125% of what they were in the previous quarter, but instead he wrote that revenues were up 125%.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131579945
Nice work, and your efforts are appreciated by many here.
Down 15% for the week.... Buying during the past week's conversions may turn out to be a smart strategy.
we're in this but I can't read it
https://moneymorning.com/2017/06/01/7-marijuana-penny-stocks-to-watch-in-june/
I bought 20K at 0.0133 today and I feel like I don't know what I'm doing.
There is a lot of upside for this company but my morale has been punched daily.
I didn't see anyone post this article from May 30, which discusses the testing industry.
https://www.whatech.com/market-research/medical/291779-new-report-cannabis-testing-market-offer-significant-growth-opportunities
You knew May was going to be a bore? Nobody thought that. Link to an April post that said that. I could be wrong.
In April, Berman was saying it was the "perfect storm" of activity.
The perfect storm is not supposed to be a bore.
Hexagon is also a dumb name for a company. Why not octagon or septagon?
There is a lot of love here today. Toxic notes almost done, Steven's gonna buy more, Mag wishing luck to all longs.
I bought a bit more than I was comfortable with last week and I'll buy more if we get lower.
The upside on this stock is really nice.
Keep your eye on the number of licenses and applications for Oregon producers. These are guaranteed customers for us and our competitors.
I would like to page that KevinDenver guy and ask what he thinks of everything here. IIRC, he bought in about a month ago. He seemed to know how to read financial statements well.
The number of producers coming on soon is just huge, and is growing faster than the number of labs. I predict revenue will still grow strong in Oregon.
The good thing about our company is that if we need to shut down a lab, like the one in Bend, and move all equipment to California to make money, that's feasible.
So there was a T-trade today? What does that mean and how is that done?
Last Trade Time Type Quantity Stock Price Currency
Closed form t 932,705 $ 0.016079 USD
Summary:
The proposed rules and the stock price caused me to sell in April.
The publication of the new rules today caused me to breathe easier buy more today in May.
There was some give and take there for sure, and it could have been a lot worse. SGBY did fine. IMO. And remember, there are more producers in the application pipeline than there are producers with active licenses.
There's still a chance that the legislature could pass HB3448, which would require testing of each 15 lb. batch, and that would be amazing.
https://olis.leg.state.or.us/liz/2017R1/Measures/Overview/HB3448
CA's rules will be even more stringent.
Research Universities in the Northwest:
U. of Oregon
Oregon State
Portland State
Oregon Health Sciences University
U. of Washington
Washington State
Some of the terrible proposals like allowing batches to be combined and reducing the % of batches tested to as low as 20% were rejected.
Also:
"Of significant note, the Authority did not implement the proposal of a once annual randomized pesticide testing scheme for concentrates and extracts and did not reduce the frequency of
pesticide testing on usable marijuana being supplied into the adult use market."
Clarity finally on those proposed rules in Oregon:
http://www.occnewspaper.com/oregon-releases-new-cannabis-testing-and-labeling-rules/
https://public.health.oregon.gov/DiseasesConditions/ChronicDisease/MedicalMarijuanaProgram/Documents/bulletins/2017-05-Summary-of-Div-7-eff-05-31-17.pdf
bought 17.5k @ .0161
bought 33.5K @ .0157
Are you a serial flipper or do you just get bored? lol
Yeah, what's the deal with Mr. Cheerio?
I had a buy order sitting there at 0.0157 for a few hours but it didn't hit. Weird.
I don't think it can possibly be SOU because they have no applicable graduate programs.
I thought I read on here that the company was going to be working on research with a high profile northeastern university?
Great job... covered my questions.
I have a different opinion and believe that the next catalyst could come from Oregon lawmakers rather than via an acquisition.
I added at .017 today. I am not sure why that was possible with the company's financial picture improving.
Last time, with worse numbers and a higher share price to start from, the stock jumped on earnings day.
If people were buying at 0.024, why wouldn't they buy the same company at 0.0175 a month later?
Did he mean to say up 25% instead of 125%?
Look at the quote on the recent post on the EVIO Facebook page. It says that they are beating their own internal revenue predictions.
This is good news.
2M was an absurd estimate based on some funky ratio math.
But I see no reason why the market wouldn't react green to this 10-q. It exceeded by personal revenue expectation.
Client deposits on Dec 31, 2016: $151,049
Client deposits on March 31, 2017: $159,145
All of the people who were complaining periodically about late filings over the last few months now can hush.
Filings will not significantly late ever again.
These numbers look great!
Bullish for SGBY in both Oregon and California!
Interest expense is dropping!
Revenue is rising!