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Also, is it just me or is this statement in their last PR awfully garbage?
"The Company's management also conducted an inquiry and determined that no Company officer, director or beneficial owner of 10% or more of the Company's common stock has purchased or sold any Company shares on the open market within the last 90 days."
So anyone who owned less than 10% could have a shit ton of shares and sold off as well?
Someone who owns 9% still owns 100,791,123.75 shares out of the OS.
Smells like the public investor is getting washed out. Hope you tax harvested!
Email the TA usually is the first step
West Coast Stock Transfer Inc.
https://westcoaststocktransfer.com/contact-us/
Back this time 2018:
Market Cap: 58,219,948
AS: 1,990,000,000
OS: 646,888,318
Restr: 454,296,711
Unrestr: 192,591,607
Held: 184,493,775
FLoat: 190,091,607
Now (as of Nov 2019)
Market Cap: 12,318,915
AS: 1,990,000,000
OS: 1,119,901,375
Restr: 624,680,314
Unrestr: 495,221,061
Held: 487,719,383
FLoat: 440,956,791
Ouch @ heavy dilution. Let's see what the RS does I guess?
Frontloading emailed the TA (Empire Stock Transfer)
See post 13099
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152163879
FL's Text:
"Sent NUGS TA a float request yesterday..Encourage interested others to do so.
TA email contact--info@empirestock.com"
---
Also see timeline:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152518380
"NUGS Float Update:
Aug15 .....20m
Sept30 ....40m
Nov26 .....57,177,895 per Otcmarkets"
And actual float on 8/15:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152408217
"Still tiny, but observing closely as NUGS float doubled from
20,839,964 on 08/15/2019."
If one observes the decline in share price, you'll notice roughly half the share price deteriorated within those timeframes
https://ih.advfn.com/stock-market/USOTC/cannabis-strategic-ventures-NUGS/historical/more-historical-data?current=1&Date1=04/01/19&Date2=01/03/20
--
Both Front/NYCDream and I share similar views on NUGS, as shown:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152333470
in response to my post 13204 -- The patterns between how these closely connected CEOs seems to be the exact same. Which is why we are skeptical of this drop to 2017 prices (Which I called back earlier this year: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152292764) as similar strategy to what we see at SGMD.
I just emailed TA for a float update on OTCMarkets, so we'll see what they say. I too encourage you to email them as well.
I'm glad you made money on that first run up to 7, that was an exciting time.
I really do wish that could have stayed, it would have been nice to be able to go from dollarville to multi-dollarville instead.
But this OTCmarkets is OTC for a reason I suppose. I agree - I think this will inevitably follow the same. Unfortunately people won't see your post to learn from our history here
What's really interesting is the volume has maintained above six figures every day for the past month pretty much. That's really a good sign in my opinion because that means a lot is trading.
Despite the price keeps going lower, I think we're due for a jump with the next quarterly earnings if we stay on pace.
Let's see what happens but the foundations look great. Has anyone seen the awesome photos on the IG of the grow?
-> https://www.instagram.com/p/B6tsTuBJUAo/
Beautiful grow room. Pristine. Gets me excited for homegrown USA bud. hope the eternal longs like me get rewarded in 2020
@relativity & NYC, I think both of you are correct.
NYC - smells super fishy, close to SGMD's stock approach. I just don't know how badly that strategy will affect this stock price once dilution goes to hell.
Relativity - a M&A would be interesting, although I wonder which company would be the one acquiring, and what share conversion would be negotiated.
There are quite a few cultivation sites across the US right now, so I am quite curious how competitive this one in California will pose in the national market.
[LONGPOST] Unrelated to most recent posts - Back on post 13389 I pointed out a slight amendment to the quarterly.
Looks like they recently amended the report to remove the names. Not sure why, but that made me more curious, so I looked deeper into the numbers.
I put these numbers into an excel sheet, and did some math with the other reported majority owner shares. Found some interesting info for further research if Frontloading is interested, although I see he's dropped from this board which is sad.
The total amount of shares in that table of folks from 12/10/19 Quarterly Amendment #1 indicates 82,134,125 shares.
Per Quarterly Statement,
Note 1:
"In June 2019, the Company entered into negotiations with a strategic investment group that will provide the Company with significant indoor, outdoor and greenhouse cannabis cultivation operations; an existing cannabis retail presence; a team of highly experienced cultivators and
managers; and a direct cash infusion from a strategic investment group in return, the Company issued 68,537,292 common stock and 12,452,086 preferred stock C. As of September 30, 2019, the conditions precedent to closing are still pending completion."
bottom of Note 15 : "On July 3, 2019, the Company issued 81,921,614 common shares to the counterparty and the management team members of the agreement that’s currently being negotiated with the strategic investment group. As of September 30, 2019, the conditions precedent to closing are still pending completion"
from "Shannon Gray" down to "Jesus Quintero" in the table, those shares total (when added up) to exactly 212,511 shares.
82,134,125 - 212,511 = 81,921,614 shares. The exact amount of the counterparty group for the "Strategic investment group". These folks my friends are seemingly in the strategic investment group. Seems as though many are putting their own cash into this.
12 people in that group were granted shares counting above 2.7M shares total each. Outliers include Chengcheng Zhang at 15.7M shares, Choiwan Essey at 13.9M shares, and "Bryant Din" of 88 Investment Consulting at 8M Shares. All of which were granted as of 7/3/2019. My guess is the big money injections came from ChengCheng Zhang, Bryant Din, and Choiwan Essey, with smaller injections from the assortment of the group.
Although, counting up the actual converted shares owned, the common share count goes above 1Billion, which would be far outside the A/S 988M amount. Not sure exactly when that will come into play, but definitely watching out for that.
What's kind of sad is that this stock is back at 2017 prices. It was actually more valuable in 2016 and 2017 than it is now, given the float back then was so tiny & could rip with small injections of cash - with one caveat, higher float means greater liquidity for early investors in the long run. A necessary evil one might say.
With the massive amount of shares released to the public, there's no chance this will go as parabolic as in 2018 beyond dozens of cents in my opinion, when compared to back when we had sub 3-5M float.
Is there any situation that would lead to dollar-zone short of institutional investors injecting massive cash inflow?
Where did they say that?
Merry Christmas MCTC family - looks like cannabisglobalinc.com website is undergoing renovations - they've locked the page down.
Curious what we're looking at next. Looks like the current price drop is stabilizing around 0.25-0.35, where it was trading equivalently in May 2019.
Not really sure what the catalyst for this jumping will be in 2019 aside from licensing agreements. Curious what comes next.
Merry Christmas all - let's hope 2020 is a good MJ year. We saw some really great things in 2018 and less awesome things in 2019, but he's hoping the day after tomorrow will be good!
Probably new deal trying to get a low price of acquisition, but who knows.
Also i noted they released an amendment with a list and dates of the latest shares given to consultants and owners/financiers.
Many are payment to counterparty for the financing package awhile back, as well as stock issued as compensation. Some are payments in lieu of salary.
What it does not indicate are the deal cost bases or anything - we have no insight into this.
Was it a buy or sell? Generally TA is brokering that big of a trade to not mess with open market
I'm wondering about the timeline for dilution too.
When did leadership start leaking shares?
Insiders have rules about how many shares can be sold based on avg volume, curios exactly whose shares were released. And in what time frame.
This goes back to my concern that this company is still an alternative reporting company. We will always run the risk of not knowing when more early-stage investors Shares are being leaked because they have no sec commitment to reporting this yet. Investors should be wary of this in my opinion. New investors I mean who are just now taking positions
The numbers are still in line with "potential" blue sky production away 2-3$ per gram, but i think the 5M projection could be a conservative estimate.
Also that volume released to public assists early investors in that when they want to exit, the larger float guarantees they can exit without dumping on the normalized pps at that time.
Whether this ever gets back to dollar land, no idea at this point.
Actual cashflow positive would be where we are looking for. Everything else is up to speculation
Something else has been bothering me - if you look back Yoko annual reports, there were a handful of other directors that quietly are no longer beneficial owners - is this because of the issuance of class C shares? What happened to all those shares?
I can't seem to find them FL - tried using google patent search, no dice.
Have to keep in mind they partnered with Cannabis Nanosciences, and it being a NV corporation, there's not a great way to find out who owns that company - and more importantly who is under those patent applications. Also i'm curious how many of those are provi patents and how many were filed awhile ago and turned into actual patent applications.
The Company has put into place a product production and R&D agreement with Cannabis Nanosciences, Inc., a Nevada Corporation (“Cannabis Nanosciences”) (the “Cannabis Nanosciences Agreement”) to produce products for the Company and to jointly research and develop new methods to infuse foods, beverages, cosmetics, nutraceuticals, and topicals with cannabinoids. Relative to product production, Cannabis Nanosciences will receive a royalty equal to thirty percent (30%) of the gross margins generated by the Company directly relating to all products produced by Cannabis Nanosciences for the Company and for all future products produced by Cannabis Nanosciences for the Company. Under the terms of the agreement, Cannabis Nanosciences will be responsible for product design, formulation, production, packaging and quality control. The Company will be responsible for maintaining the lease on the production facility, product distribution, contract labor for production, product sales, working capital availability and all other costs associated with production, distribution and operation of the business.
https://www.forbes.com/sites/sarabrittanysomerset/2019/11/18/us-lawmakers-to-vote-on-more-act-to-end-federal-cannabis-prohibition/amp/?__twitter_impression=true
And we have momentum shifting towards action again. If this doesnt get stuck in judiciary, we may have a clear path to Senate. Whether this gets through Senate is a whole different story, but this is century-old legislation that should have been switched earlier. Glta!
Policy-wise, speaking of which:
A key congressional committee plans to hold a historic vote on a bill to end the federal prohibition of marijuana next week, two sources with knowledge of the soon-to-be-announced action said.
https://www.forbes.com/sites/tomangell/2019/11/16/vote-to-federally-legalize-marijuana-planned-in-congress/#62ceedac201b
This could get exciting..
Good question. Related companies (meaning directorship at these companies ancillary to this one) have been diluted, then undergone 15:1 reverse split $0.07 to $1.00, and another recently announced potential 300:1 max potential RS which would take them from $0.01 to $3.00.
This becomes a viable OTC vehicle to hitting the special case share price of 2 or 3 USD at closing for NASDAQ listing. I noticed this was a trend in OTC companies - raise a ton of capital, RS to get to uplisting price, uplist. Since they .have majority share voting rights, they can easily do this. Doesnt destroy shareholder value as the value of the stocks remain the same, just changes the perceived value because one owns less volume of shares. (Although there will be plenty of bitching if a RS occurs!)
The fundamental cashflow operations of NUGS makes me okay wIth a RS if necessary, although we would need policy changes to properly uplist to NASDAQ I believe. However with the ss changes and preferred C shares, that amount of shares still bothers me greatly. Can't put an exact reason why yet but time will tell - mainly the language stated their "value if converted to common shares" ... and the value was two to three orders of magnitude greater than anyone owns today.
[LONG POST]-Still unsure what's causing the large volume
I don't believe this is a $200M company though, judging from the math in https://www.otcmarkets.com/stock/NUGS/news/Cannabis-Strategic-Ventures-Commences-Perpetual-Cannabis-Harvests-at-NUGS-FARM?id=241639
"At FULL OPERATIONAL capacity, NUGS FARM is expected to cultivate, harvest and process crops on a monthly basis, with each crop yielding approximately 3,500 pounds of quality flower. Based on recent data from Cannabis Benchmarks, the average selling price of greenhouse-produced cannabis flower is $1,208.95 per pound. ."
And also, immediately above it, "The cultivation site is operating at approximately one-third of its total capacity, with full operational capacity expected to be reached during the first quarter of 2020."
Math would estimate on average, at FULL CAPACITY,
3500 lbs * 1208.95 per pound * 12 harvests per year = 50.7M USD per annum at full capacity, which means approximately 16.7M USD per annum at current capacity. This would indicate for any quarter, we might see less than 4.2M USD in gross sales.
Later on in the same article, "1,587,573 grams per harvested crop" -- this is literally the same thing as 3500 lbs, converted to a grams number. Nothing special here - why not just start with the larger Grams number instead?
--
Furthermore, in this article earlier in April, https://www.otcmarkets.com/stock/NUGS/news/Cannabis-Strategic-Ventures-Plants-20000-Cannabis-Plants-at-New-6-Acre-Licensed-Site-First-Harvest-Expected-this-Summer?id=225915
we saw an expected " six-acre cannabis cultivation site expected to produce a minimum of 30,000 pounds of cannabis per harvest, with an anticipation of four to five harvests per year."
30,000 lb * 1208.95 per pound * 4 harvests = 145M USD per annum projected April 2019.
The expected vs projected would be approximately 50M vs. nearly 150M, almost 1/3 of what we originally thought. and that's IF everything goes perfectly from here on out.
--
That being said, it's not easy creating a company that can generate 16M in sales, we'll have to see the balance sheet to see exactly how much expenses takes away, and how much net profit the company makes come mid next year as they get their processes sorted.
I mean, I own pre-split, but I have enough to not feel screwed. Did you play with small money?
Saw that too on yelp, have not been to LA to confirm though. Anyone live near can drive by?
Hey now, back two years ago 7 cents was still exciting. Especially in Dec '17 when it broke .13, then rocketed
New pics on Insta of nursery and flowering room, go see @nugs_farm
I am so curious to see what this and next quarterly statements end up as. If we see the cashflow jump from great distribution channels/sales, then we will be looking at another leg up.
If not, well, back to 2017 prices, except 17M more float than back then.
Its missing one of the directors on cannabisglobalinc.com
This isn't new though.. September 27th 2019
I did not receive any unfortunately, so they must have been pumping amd dumping to some other email list they generated. I saw this garbage all the time on crypto mailing lists, and telegram especially
When? Float is 20M.. dont see one day where more shares traded than float
We need an updated float to confirm. Without being on EDGAR full reporting status, we cant tell if shares were unrestricted, however the leadership made it a point to note the insiders especially those majority stakeholders did not release any shares, and remain restricted. So lers see if an updated float remains the same 20M
Going to have to look into this company that was pumping on the side, figured something was wrong when that happened
I am wondering why NUGS shit the bed today, generally we see this kind of spike downwards before some killer news is released. Wondering if the next quarterly will be enough to propel this upward.
Either way,
Shares Out:
269,663,223 as of 10/31/2019 on OTCmarkets
Float
20,839,964 as of 08/15/2019
Market cap still 19,210,808
With Auth Shares still at 988M
Now I wonder why float has not been updated since August.. wonder if more shares have been released/unrestricted. Is there any way to check this? With only alternative filing, nothing is listed on EDGAR yet..
Did you see the new video posted to IG? ????
Looks pretty legit
Something is bothering me though. Didnt they acquire so many other companies via pure stock or partial cash+stock at severely higher valuations than where we are today?
I cannot imagine their plan is anything less than to list - otherwise there is no way for when early stage investors/investments could ever exit at a profit.
So your single $0.07 share became a hundred $1 shares? Wicked.
Did you all notice the two new Instagram photos, one identifying Metrc tagged plants, the other via drone shot of the farm? I see Arlene is starting to add branding logo to the pictures as well.
Can't recall who mentioned being a part of the track and trace, might have been FrontLoading, but this indicates they are there or on their way. Plus I cannot imagine it's an easy process to account for everything here. Glad they are doing it with diligence.
My hope and dream is if (1) cannabis de-schedulization occurs (2) NUGS has enough revenues and shareholders to uplist to a NYSE once de-schedulization occurs, and (3) everyone begins to have demand for this kind of American-soil, cali-based shop. However, we shall see - if de-schedulization never occurs, and the next administration does not focus on cannabis, what - do we figure out a way to go onto NASDAQ or something like all the rest of the Canadian companies? What are some plausible situations?
LongPost - The only difference I notice in the Amended Quarterly are the following (See items in Quotations)
P.45: For the quarter ended June 30, 2019, the Company paid the complete consideration for LYXR in the amount of 68,182 common stock at fair value of $75,000. "An additional 68,182 common shares were inadvertently issued then cancelled on July 9, 2019." - think this is harmless/topical update.
P.46: "For the quarter ended June 30, 2019, the Company issued 4,654,675 shares to reclass from Shares to be issued – equity to additional paid in capital for $12.3 million."
- I'm reading this as equity given, for an additional paid capital of $12.3M. So did LW Ventures agree to provide an additional $12.3M in funding on top of the original $8M? And does this mean they are issuing 4.654M commmon shares, to be reclassed to Preferred Shares C? Those have 100:1 voting rights but seems Preferred C is convertible to common shares 1:100?? As of now, we do not know what share class they will be reclassed to, but since A and B were cancelled and returned, C can be my only guess.
See below statement:
(On May 15, 2019, the Company designated 50,000,000 shares of Preferred Class C stock. In conjunction with the Company’s cancellation and retirement of its Class A and Class B Preferred Classes of stock, it had only Preferred Class C designated as of the date of this amended filing.)
I mean, I thought I owned a lot of shares, but if these Preferred C get converted ever, that's some massively wicked dilution we can expect. Maybe they structuring this way so they can continue to raise money while maintaining control, even if having to give 3-4 board seats away. Not certain how this pans out for early investors? Pondering still, thoughts are welcomed
I just noticed in the latest PR the About Us section includes the following verbiage:
"The Cloud is a dispensary, cultivation, and manufacturing facility located in the heart of downtown Los Angeles."
Was this mentioned before by name at all?
"the Cannabis Strategic Ventures (NUGS) portfolio includes NUGS FARM, a 6-acre greenhouse operation with full cultivation, manufacturing and distribution licenses; Asher House Wellness a is a line of ingestible Pet CBD products that contains a broad spectrum of beneficial hemp; The Cloud is a dispensary, cultivation, and manufacturing facility located in the heart of downtown Los Angeles."
Perfect reversal pattern on charts + news out!
"harvest and process crops on a monthly basis, with each crop yielding approximately 3,500 pounds of quality flower"
monthly crops. 3500 lbs per crop. 12 months x 3500 lbs/mo = 42000 lbs annually when they get to full capacity (they mentioned they are around 1/3rd)
So referring back to my post where I referenced scenarios: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151051385
100% Scenario: 120,000 lbs x $1196/lb = $143M
50% Scenario: 60,000 lbs x 1196/lb = $71M
25% Scenario: 30,000 lbs x 1196/lb = $35M
10% Scenario: 12,000 lbs x 1196/lb = $14M
42k lbs x 1196/lb = $50.2M.
1/3 of 50M is around $16.7M per year at current capacity, little over $4M per quarter gross revenue
Unless I got the crop calculation wrong, can someone check the math?