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Q1 filing is out.
https://backend.otcmarkets.com/otcapi/company/financial-report/285544/content
No revs, but they acquired $3M in assets. Let's see what they do with it.
Next week I think is going to be interesting.
New filing today. Notification for late quarterly. So we should expect a 10Q in 5 days. This one should have the new acquisitions included, right? It'd be awesome if they show any revs. And wouldn't this and the attorney letter be enough to get them pink current?
She lives! Let's roll Sam. I'm so damn ready to for this. lol
Sounds like we got 3-6 months before they figure out what they're doing. I'm not taking the loss on this one, so nothing to do but forget we bought this turd for now. Nobody's buying, nobody's selling. Keep on keeping on.
I can only suspect that the delays are due to incomplete or inaccurate information provided by Obocon. OTC can only act on the info they are given. Sucks, but at least there's no indication the company is not proceeding with their plans to be a public company and grow their business. I see no reason to bail on it after all this time. Just a waiting for now.
United Energy is Rigworx. Rigworx dissolved when it merged into United Energy, which was an empty shell company. They kept the United name. They inherited no assets from United from the merger. As far as what Rigworx brought with them, who knows? Nothing's been disclosed. I think they own some assets in OK and KS, but probably zero revs. If they close on their LOI for the west Texas wells, then they'll have something to work with.
You know it'll double a few days after you sell. ;)
You realize, if they didn't dilute they may be bankrupt after their market disappeared overnight? Except US MJ business can't file for bankruptcy protection so they go straight to dissolution and you get nothing for your shares. NOTHING. Would you have preferred they do that or the path they took to increase sales and shareholder value? It will take some time, but that's where we are. And it's a hell of a lot better place than last year. It's fun to wish they could just grow organically and and we all make money the whole way up. But reality is a bit harsher than that.
Do you expect all this exponential growth for nothing? You and I both know what's coming for Halo. It wasn't cheap for the early investors, but it will be worth it. I'm very confident on that. Or would you rather Halo fart around with their little extraction company from 2 years ago and still be at break even or worse, just with a higher stock price? I bought in early 2019 so I know what you've been through. I'll take diluted Halo today over that version any day.
Current operations are generating profit. Cash positive last quarter. The heavy expenses are from expansion activity, most of which will pay for itself within a year of beginning sales. The BarX mortgage debt has about 18 months left on the term and they may pay it off early after the fall harvest.
Mendo cost about $5M and is doing close to 1M/qtr now so they're already near breakeven on the deal. But they just signed an offtake agreement with Triangle for 25% of their harvest for the next 2 years. So they'll have somewhere around 20M worth of product to distribute wholesale. That will pay for itself probably by July.
Bophelo cost 4.5M and they've maybe spent 5-8M so far to build it out. They are anticipated to have revs greater than 25M within a year.
What is your concern, exactly? It's not like they threw our shares away. They got some nice assets for them. I estimate Halo will achieve a 500-800M market cap in short term, and a 5-10B market cap in the long term. So we're talking 300-500% gains probably this year, and 3000-6000% gains in 5 years. Let's say they dilute more to 4B shares without adding revenue and it cuts those percentages in half. That's still a great return.
Of course, anything could happen. I'm not telling anyone to buy. I'm just saying don't be discouraged by nebulous things like dilution because when the revenues start hitting, the turnaround will be swift and dramatic.
Care to justify that statement with facts? I don't believe you can find anything to support that take.
Agree.
That's the problem. There is no light to see yet. Good or bad. We're just waiting for the veil over this company to be lifted. It's Sam's job to do it and he's failing thus far. I give them some slack for being a new public company and all, so am not too annoyed yet. But there's a point where patience ends, and it's not far away.
IR indicated on twitter they'll update and report in a few weeks. Shell risk/yield removed first, then filings. Which will include Anthea.
Awesome! Did he mention anything about the LOI in the PR last year?
Kiran's interview with the NEO today is up if anyone missed it.
Companies are trying to keep up with Halo, not the other way around. 25% market share is pretty dominant.
The article is ranking # of employees.
So it looks like UNRG has a new office location. Both are suburbs of Dallas.
Previous (Sam Smith's home address):
2112 Highpoint Drive, Sachse, TX, 75048
Current:
101 East Park Blvd
Plano, TX 75074
Google street view
I think, given his last interview about some news this spring, and the price of oil back in profitable territory, we are getting close to this thing finally getting some legs under it. Can we have some acquisitions please?
It means don't expect much influence from DFO anytime soon. And it means we can stop speculating about them. Obocon still operates their core business, still owns Anthea, still has their eyes on other acquisitions and is still a public company. When or if they ever report financials, we'll get a better idea of what they're worth. If we just look at Anthea, which Sam projected 25M revs for 2021, then Obocon is seriously undervalued right now at 7M market cap.
I'm not doubting the connection so much as I just don't know what it means. It appears to me that Obocon is a subsidiary of DFO, based on how DFO describes them. They're part of their name after all. So, why does Obocon not mention that anywhere on their own website? What do we get out of the DFO connection, I suppose is what I'm wondering.
I'd like to see a couple more names next to Anthea on the brands page to make it a little more exciting. Maybe soon? And at least they've got their market cap right on the investor page. :)
And I still don't understand the connection to DFO Group. Are we sure these are the same companies? Did they use Obocon's logo by mistake? I've seen that happen before.
I think that's a big reason they changed their name. ;)
I've been averaging up too. I bought some more today. I sold all my early buys in the .50's last year, but am close to 200k shares at .09. I'm right there with you on the all in. I think you're right about where this is going. Once those trucks start loading up, the game will be on. With this new deal Halo is part of THE largest grow op in California. And it's not indoor BS, which makes it even better if you like profits.
Very exciting to be here now and not even close to what I expected buying 2 years ago. lol.
Halo and Green Matter both took a 44% ownership stake in Triangle Canna. Triangle then signed a lease agreement with Lake County Natural Health (BarX parent company, owned 50% by Halo/50% Green Matter) for 80 acres to grow on. Triangle has applied (and will get) a preliminary license to grow on 60 acres outdoor, 20 acres greenhouse. Same license LCNH has. The growing will commence this spring on 10 acres. In summer, the second crop will grow on 60 acres. I imagine this is similar to what LCNH will do. Triangle will also pay LCNH a lease, which will be split between Halo and Green Matter.
Now, here's where it gets interesting. BarX has 1600 acres. I think there's probably a limit on capacity per license, so to get around this, Jedediah Morris, co-owner of Green Matter, and the guy living at BarX right now to oversee the build out, created a new company called Triangle Canna in December 2020, registered in Nevada. He owns it.
Halo and Green Matter now both a 44% stake in Triangle Canna, with the remaining 12% owned by Jedediah Morris. So to break it down, Halo owns 40 acres of LCNH's license, and 35.2 acres of Triangle's license. But all the cultivation is really owned by Halo and Green Matter, and operated primarily by Jedidiah Morris, who has long time growing experience in the region. Halo benefits from the lease revenue and land appreciation, as well as the ownership stake in the lease holders. It's a great deal. It gives Halo about 40-50M in potential revs this year! just for loaning Triangle some miniscule startup funds. I'm surprised this hasn't been talked about much.
The tweet was only referencing the subsidiary, Bophelo, which has no sales as of yet. The corporation as a whole is cash positive. No need to doubt what he said, it's in their Q3 filing.
BarX is about positioning for legalization and the entire US legal market. 100k lbs is drop in the bucket for this market. Even if that doesn't happen and they're stuck in California (the largest market in the world), their product will displace higher priced commodities, like the plethora of indoor grown cannabis that costs 3x as much to produce. Medmen, Caliva, and most of the large vertically integrated retail ops in California grow indoors. In a price war or supply glut, BarX will win every time. The others growers are the ones that should be worried.
I don't think so. This is an amazing deal. Doubles their revs for lunch money. I'll go out on a limb and predict we hit .20 monday and close over .18. Should be a fun day at the market.
Really? Please explain the grievances stockholders may have. As far as I know, a decline in stock price is not grounds for suspension. Though I wish it were it some cases.
Halo just picked up another 40-50M revs for pocket change. They're making some badass moves lately. Love it!
https://www.newswire.ca/news-releases/halo-provides-update-on-1600-acre-california-farm-819439782.html
OTC can only act on what they're given. I put any delays squarely on Obocon. Other tickers don't seem to have any issues. I honestly think it's not been a priority for them the past year. Which is fine. Take care of what you need to. That actually makes me feel better about this being legit and not a pump and dump.
But when it comes time for Obocon to use their shareholder's equity, I bet we see some swift updates coming to the OTC regarding financials, transfer agent, share count, and all the other stuff missing.
Warrant price changes with the split ratio, like common shares. And remember, those are in Canadian currency. Halo.ne is at .165 right now.
Indeed it does. I'm certainly no expert at making money on speculative stocks. You win some, you lose some. I'm more familiar with the losing option, unfortunately.
there's no guarantees in stocks. But, the good thing is the projections for Halo (at least mine, after considerable DD) are far above $.17. Which you fail to mention. It's not necessary that you buy at the bottom, but that you buy when you can. Wherever you enter at this stage in their growth is a positive. What is necessary is that you wait for the exponential gains that are coming. And they are coming.
You and I both. I've been patient with this one, as the Obocon holdings looks promising. We just need to see some financials and MD&A discussion, and there's a better than good chance that we'll all make some money here.
I bought in higher than you did, so I feel your concern. But these OTC mergers don't operate on our timeline. Need to let it play out. Worst case, you lose slightly more than you've already written off in your head.
If they actually functioned as a public company, you might have a point. But they're not at that stage yet, so it's TBD. They'll get there.
Halo has plenty of company in the red zone today.
It's all good. I think this year will see some decent gains as well. Hard to say where we'll be with BarX, but Q3/Q4 should be pretty good. I just wanted people to visualize all the different new revenues coming.