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Saw 518,700 shares on the bid at $0.102 yesterday. Looks like someone is eager for a quick profit.
I think people are finally waking up to the opportunity here. Yeah this stock is speculative, but as soon as this deal goes through and the previously announced trades go through, traders can expect to make at least a 3-4 ROI at the current PP.
To my knowledge, there should be roughly 12 million privatley placed shares.
If remember correctly there was a ~10.5 million private placement made sometime in January. These were held in escrow until early May. Some made a big stink about that, touting a pump and dump scheme, but from the time that those shares could be traded to the time that our PP sunk below the privately placed PP, the total number of shares that traded hands (privately placed or otherwise) was less than half the number of privately placed shares.
Then, in mid May, Vinergy announced another private placement of 800,000 "units" at a PP of $0.50. These units are comprised of a common share and a warrent exercisable into one additional share at a price of $1.00 for a period of three years from the date of closing. They havent announced whether it has closed or not. I suspect they would want to wait until trading resumes to knock our price back up.
There is also Facundo Bacardi, who was granted 100,000 options at a PP ~0.50 USD
Perhaps, but that edibles announcement was only just made. It seems to me that this postponment is hinged on something earlier. They are waiting for something, just cant figure out what.
I know I keep saying this, but I think its related to an undisclosed acquisition arrangment. From MJ biopharma's perspective it would make sense to agree to a major drop in shares if it means Vinergy is able to acquire a seperate entity who's value would compensate/overcompensate for the share cut.
You also need to keep the privatley placed shares in mind; more shares to MJ means dilution. Its a balancing act.
Correct. Can't say exactly when; we only know the agreement has been extended till November 30th. The real question is, what are they waiting for?
I think anticipation was definitely a catalyst for the end of September. Though, this past week I figured traders would have been more intent on selling given the lack of acquisition confirmation; Which is what happened up until the 4th, when news of edibles legalization was made. I think we should finally start seeing an upward trend now that traders know that the acquisition is still on the table and get excited about a legal edibles/concentrates market. At the very least, I think we should see our PP remain stable while we wait for the acquisition to become official.
They released that monthly report today.
It says that "the company extended the termination date of the amending agreement to November 30, 2017"
http://thecse.com/sites/default/files/Form_7_-_VIN_Sep_2017.pdf
Now I'm even more confident that they've got something else in the works :)
The increase in buying seems to have coincided with the recent decision to withdrawal the continued ban on cannabis edibles link.
Whatever the reason, its nice to finally see some positive action again. Sucks having to accept the fact that I could have bought shares at such a cheap pp
It's not trading in Canada, but you can still see the current bid/ask quotes from MMs. Their monthly "updates" dont usually contain much new info, but I think the next one would at least tell us something regarding their acquisition. If you dont know what I'm talking about, look at the bottom right of their CSE page, under "CSE Filings".
Link
Saw another tweet from Chris Parry today regarding Vinergy's halt.
"Spoke to them yesterday. 3-4 weeks. Course, I'd heard 1-2 a month back, so.. grain of salt."
I know I'm an optimist, but I cant help but feel that they've got something else in the works that they want to wrap up before they start trading.
Not sure of the rationale there. Could just be that someone was intent on averaging down with the expectation of news sometime today. We're due for our monthly update either this or early next week. I've also noticed the canadian bid/ask has been rising steadily, counter to the US trend.
Thanks. Sounds like Vinergy has been ready to resume for a while now; just waiting on the CSE...
Another quick update. This comes from Vinergy's August progress report, released on Friday.
"MJ Biopharma is currently in the process of updating its facility by upgrading both the electrical and HVAC systems to accommodate anticipated future growth. The Company has also installed additional security walls, upgraded both the cabinetry and the flooring to attain scientific regulatory requirements of the facility."
Might be why we havent seen images of their facility yet.
Saw that Chis Parry (the Equity Guru hired by Vinergy) tweeted that the halt should be ending soon. Vnnyf twitter feed is starting to pick back up again too. These services dont come free...
MJ biopharma isn’t looking for a lower price. They're looking to get as many shares of Vinergy as they can get. The price they pay for the shares doesn’t matter much because (at the price per share they agreed on) they would recoup their loss as soon as the deal goes through. From Vinergy's perspective, they aren’t trying to get as much money as they can through the deal, they want to acquire MJ biopharma using as few shares as possible. In other words, shares have much more value than money at this point in time. This is why I believe an acquisition that would add immediate and substantial value to Vinergy is in the works. If there wasn’t something else competing for Vinergy's shares, MJ Biopharma would have more leverage in setting the number of shares because they would be soley responisble for Vinergy's value (what Vinergy is looking to increase). In which case, the amendment would have been for more shares, not less.
Just wanted to clarify that Vinergy isnt the one paying the money, they are paying in shares (4 million). Its my understanding that MJ biopharma is paying to be acquired (the $800,000) as a means of going public. While MJ would be at a loss at first, they would recoup those losses once Vinergy's value increases.
I think your interpretation is correct. I'm hopeful that the renegotiated price came about as a result of some unannounced acquisition coming down the pipe. Now that Vinergy has freed up over 5 million shares, they've got some more puchasing power without having to dilute our shares further. This would be in MJ biopharma's interest if the next acquisition were to overcompensate for their reduced number of shares. Could just be that they couldnt find the money for the original agrreement though.
I think its good news for us whatever the case :)
New progress report today. Doesn't really say anything beyond them still undergoing their fundamental change, but at least its something. Here's May's if anyone wanted to review it
Would be nice to hear something. At least they've kept up with their CSE filings. Should be getting their next progress report next week.
In the meantime, we at least appear to be stable at MJ's PP. Twitter bots are still abuzz too, and those don't work for free. Why continue paying for such services if there weren't something more coming down the pipe ;) ? Take advantage of these low prices while you still can.
Hahaha. Here's hoping things smell a bit rosier soon.
I've already voiced my opinion recently, so I can't offer much there, however, I would like to point out a few things regarding our current PP that might be worth considering. As you are likely aware, earlier in the year MJ biopharma closed a non-Brokered Private Placement for gross proceeds of $2,083,400. This placement included 10,417,000 shares at a PP of $0.20 (~$0.15 USD) that were on hold until May 10th. By my calculations, since May 10th we've seen a total volume of 5,060,717. Even if every single one of those trades were from those involved with that placement, they would only amount to ~48.6% of them. That means that the majority of those invested through that placement are currently sitting at a loss just like we are. I would assume those involved would be more "in the know" than anyone here, so if anything were wrong, why haven't they sold through VNNYF yet? Also worth considering is the volume we've been seeing over the past week or so. It might seem reasonably high to some, but given the absurdly low PP, it doesn't amount to much.Take yesterday for instance, we saw a volume of 45,000. At an average price of $0.14, only a total of $6300 traded hands, a pittance IMO. We've been seeing that sort of volume over the past 9 days.
Gramara found a handy doc when the halt began.
Here it is
I don't have the time to go over everything at the moment, but maybe someone else can chime in...
I know how you feel. If it makes you feel any better, know that my point of entry is about $0.80; I don't think I'm alone there either.I haven't found anything conclusive with regards to disclosure given this unusual situation, but I still feel that we have a sleeping giant on our hands here.
Remember that this is a Canadian stock, therefore, the primary focus should be in supporting those on the Canadian exchange. Given the huge gap between our PP and their's, Vin is going to need some pretty spectacular news to get things to take off on the Canadian side once the halt ceases. If they unveil that news now, the excitement over it may wane, reducing its impact on the CSE. My plan is to wait to buy more until the halt ceases and that news comes in. It's likely that many others are playing the waiting game too, leaving shaky investors and short term traders control of the American PP (the reason for the downward trend). Just my opinion though.
*Sorry, misinterpreted your use of "down". Been on high alert for people trying to drive the stock prices down further lately.
Trading on the CSE? What are you talking about? It's halted the same as it has been for awhile now and the quoted PP is even higher($0.56 atm) than it was since the halt started. I don't think I've ever seen the PP dip much below $0.52.
Seconded. I'm committed either way though. Much rather completely lose my gamble than back out early only to learn that the PP rose multi-fold over my entry point years later. Have you found examples of other companies that were halted long term on only one exchange?
The way I see it is that anyone who was interested in investing in Vinergy long term has already done so or are waiting for the halt to stop and the acquisition to be made official. That leaves short term traders more control over the PP. It's easier to scare investors into selling their shares than it is to convince them to buy, especially for a more speculative stock like Vinerergy is atm.
Agreed- Also, I expect to see one more large (millions) share-based deal, and I expect it to add immediate and substantial value much like the multinational breeder deal would have (might even be that same company). We know they were in search of that when they announced the deal and we also know that they intend to build/buy a breeding facility in America next year. There is a chance that we've already seen evidence of this big deal too. Those privately placed shares made recently might be analogous to the private placement MJ Biopharma made back in January. That could help explain why those buying the shares didn't just buy them on the American market. If an entity is being acquired by Vinergy, they are going to want to set a healthy baseline for when that acquisition goes through. I think a public company is usually required to disclose more information surrounding those sorts of deals before they engage in anything though. However, The halt on the Canadian side may change those rules.
At least the article mentions that there is no proof to the P&D accusations. It also provides a different perspective to the falling prices. Although I'm not sure I entirely agree with their narrative. Info related to dilution was available for all to see prior to anyone buying into Vinergy as a cannabis company. Moreover, I think it makes sense for a startup to be dealing mainly in shares. In fact, I expected it. How do you view the share dilution?
Yeah, I've been pretty baffled by that too. Maybe ignorance of the American listing, or at least ignorance of it not being halted? It doesn't take many people with that lack or realization to keep things high. I don't think the Canadian bid and ask sizes were all that big last I checked.
I wonder how much of a benefit it would be to have MJ biopharma update their website with pics of their team along with their facilities & what they've been working on. I bet things of that nature would help solve most of the trust issues we've been having lately.
Another nice summary from Equity Guru's Lukas Kane
Vinergy (VIN.C) Thinks Big
They still appear to be halted
If they were to resume trading today, I think Vinergy would have released more details surrounding this new deal (i.e., they are saving them).They also wouldn't have discussed price in terms of USD.
Looks to me like Vinergy is being forced to leak some of its fuel intended for trade re-commencement on the CSE. Hope that's not too far off.
Thanks for the update ZZ! That's great news. Like I said, Vinergy is not going to let this ship sink.
Not sure what your on about regarding Kent. He was "brought on board specifically in the short term, to quickly evaluate all medical marijuana proposals Easton Pharmaceuticals has maintained, which has grown and presently involves negotiations with 4 companies or groups in Canada and one in Colorado."
I have to ask, what motive could you possibly have to keep coming back here to shit on the company? If benevolence was your game, you should have offered up some clear and verifiable DD.
While that's possible, I don't think that's likely. After reviewing the trades for today, I only see three large sell orders (between ~20,000 and 30,000). By my count, only 6 of the 58 individuals listed on the Notice of Proposed Issuance own less than 30,000 shares at the $0.20 PP. Mind you, that's assuming they were sold all at once. I think it's more likely that the swing traders who bought in over the past week have grown impatient and are now backing out; We did fail to crack $0.42 yesterday and we weren't showing signs of doing it today either.
Unfortunately for us, penny stocks aren't traditionally an investor's market, i.e., they are controlled by the short sighted. If we have any hope of taking off, Vinergy needs to "show us the money". They've been holding off on news releases for about 2 months now (I don't consider the MJ biopharma closing announcement "news" [it was self-evident]), they must surely have something big waiting. Regardless of our performance over the past few months, Vinergy has proven proficient in their ability to market themselves (they are very strategic), and there are too many people with reputations at stake to let this ship sink.
I think the goal of the pumping is to put Vinergy back on people's radar more than immediately and substantially pump up the share price. It is important that news of the MJ Biopharma acquisition reach as many eyes and ears as possible to ensure the impact of that news reaches its potential. The impact of other, possibly big, news that is unveiled post-halt would also benefit.
I don't feel overly alarmed by the paid promotion. I often see individuals on twitter and the like using said promotions as pretense for pump and dump schemes, however big pumps don't always lead to equally sized dumps. I would be more concerned if a company made no attempts at promoting their stock, which would be indicative of poor marketing skills. That said, it is important to keep in mind that MJ Biopharma's hold on their shares will be expiring May 10th. If their intent is to sell some of them in the near term, they will undoubtedly draw as much attention to their stock as they can to generate profit without triggering a massive selloff that'll cause the share price to plummet. I don't see these profits being taken for personal gain though. This stock hasn't even gotten off the ground yet. To do that, Vinergy needs some fresh news, and I sense something big is on the horizon. Likely on par with the European deal. After all, if they had the means to execute on such a deal, they should still have that means.
Much appreciated gramara! Vinergy has proven to be strategic with their news releases so far, so I suspect they've got something big up their sleeve for when the halt ceases. Call me crazy, but I've got over 60,000 shares invested in this company. Hate knowing that I paid a premium for them, but I've never felt more confident in a company's upside potential before.