Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Still 3 weeks until custodian court date. Nowhere near done.
I'm more confident of the Unicorn theory than the alternative, simply because this method of going public by R/M has been completed a dozen times in the past year by almost all the top MJ companies. This one is taking longer than most, but that could simply be that they have more working parts to audit than most.
It's easy to imagine the fortunes GRN could bring us. It's harder to wait for it to materialize. The Unicorn shows itself when it's ready.
That's not correct. DCGD was a current fully reporting shell when GRN bought the majority shares. No stop signs there.
I would believe $2-5B. That would put them among the largest US MJ companies. I would put that best case, with 500M-1B more probable.
I've seen no justification to be valued close to CVS, Starbucks or Lockheed Martin.
Seems pretty silly to be selling today. But what do I know?
Random ticker warnings are fun. Thanks!
Well, this could be a bit of sematics, but all he said was it is not Grassroots Advisory, LLC that's merging. He said "We help companies go public" in reference to Grassroots. He did not distinguish whether it was one of his other companies or a third party that is going public. He still owns Green Leaf Investment Fund Inc, which is what we've been hoping for. He didn't necessarily exclude that.
My guess is it's an unrelated third party. But we could be surprised.
Ha new logo! Didn't notice that. So it looks very similar to the GRN Holdings logo now, but slightly different. Whatever could that mean?....
Yep. Set order for .0061. It filled in 4 parts from .0053 to .0061 within 60 secs of open. Got most at .0057.
The day before I chased it from .0064 to .008 before I got filled. So this worked better. Should have just ask slapped it. ;)
Ha. Your effort is outstanding. :)
I managed to get some of those .00535 shares at the low on my order this morning. Somebody is probably regretting that. lol.
GRN Funds is undergoing changes!
http://www.grnfunds.com/
This thing is about to get real.
Yes. 10000% gains from here are not unreasonable. Just need to be patient and let the momo take over once the word gets out. This is what, day 3? 2 weeks from now will easily be in the 5c range. The week leading up to the court date could be 5-10x higher, if UNR$G is any parallel. They are using the same lawyer.....
Because he's a badass billionaire millennial? :)
The uplisting question keeps coming up. There is a major barrier to doing so other than the normal $4.00 SP, reporting standards and whatnot, which are not easy requirements by themselves. If a company has direct contact with MJ and is operating on US soil, they will not be eligible to uplist until federal laws change. This is not in question. And I believe they do own stakes in several dispensaries. So that's a no go unless they only merge in the companies that don't touch MJ into the new corporation. Maybe that's their plan - just the banking stuff going public and the investment fund remaining private. In fact, the more I think about it, the more likely I think that is. Their status as a holding company may be a loophole, but I highly doubt it. There are other cannabis holding companies and none have uplisted; Curaleaf Holdings, for example, was a reverse merger on OTC and remain there.
All that being said, the laws WILL change sooner rather than later. The SAFE Act may allow it and that could happen next year. Perhaps by the time they would be prepared to uplist, it may be allowable. In the meantime, there's nothing holding them from being a powerhouse on the OTC.
Both exchanges prohibit listings from any company that breaks federal law in the jurisdiction they operate in. This is probably the best explanation I've seen. It's a lawyer's opinion:
https://www.sec.gov/Archives/edgar/data/1633061/000161577419010058/s119255_exq-2.htm
Legal Opinion prepared for
Amplify Seymour Cannabis ETF
June 18, 2019
Page 6
NYSE AND NYSE AMERICAN
The NYSE is a worldwide market that lists about 80% of U.S. securities. The NYSE acquired the American Stock Exchange in 2008 now known as NYSE-MKT. The NYSE Market is open to listing companies involved in the cannabis industry who are involved in biotech (e.g., 22nd Century Group: XXII; AbbVie: ABBV); investment in the industry outside of United States (e.g., Canopy Growth Corp.: CGC; Compass Diversified Holdings: CODI; ETFMG Alternative Harvest: MJ); the agricultural sector (e.g., cbdMD Industries, Inc.: YCBD; Scott’s Miracle Grow Co.: SMG); and the real estate sector (e.g., Industrial Properties, Inc.: IIPR). United States-based companies that “touch the plant” (i.e., those that grow or distribute cannabis) are not eligible to list at this time. Canadian and other non-U.S. companies whose cannabis related activities are legal in their home jurisdiction are eligible to list if they meet the exchange’s listing requirements, such as number of shareholders, earnings and stock price. The NYSE rules govern listing requirements and continued listing requirements. Listed issuers must comply with its agreements with the NYSE and SEC requirements in all material respect.
NASDAQ
The Nasdaq Stock Market requires the companies listing on its exchange to comply with U.S. federal laws. The following paragraph is from its website under FAQ:
In determining whether to initially list a company or continue a company’s listing when it changes its business activities, Nasdaq does not make subjective or value judgements about the business the company operates. However, Nasdaq cannot initially list or continue the listing of a company whose current or planned activities are in violation of U.S. federal law or the law in a jurisdiction where the company operates. In assessing the legality of a company’s activity, Nasdaq largely relies on the risk factors and other disclosures made in the company’s filings with the Securities and Exchange Commission, although Nasdaq may also request additional information from the company where necessary.2
TSX Venture
This exchange mostly contains small-cap Canadian stocks. TSX Venture provided a Notice to Issuers bulletin dated October 16, 2017 (the “Bulletin”)4 that specifically addressed business activities related to marijuana in the United States. The Bulletin clarified its requirements to list and to continue listing on its exchange. The Bulletin states the general requirements “that (i) the business of applicants or listed issuers will be conducted with integrity and in the best interests of the issuer’s security holders, and (ii) applicants or listed issuers will comply with all laws, rules and regulations applicable to their business or undertaking.” These requirements apply to all applicants and listed issuers. Due to the “significant number of inquiries received regarding entities engaging in activities related to the cultivation, distribution or possession of marijuana in the United States” (“Subject Entities”), TSX Venture issued the Bulletin to provide clarity regarding the application of the requirements to applicants and listed issuers in the marijuana sector. The Bulletin notes that although a number of U.S. states have legalized the cultivation, distribution, or possession of marijuana to various degrees and subject to various conditions, marijuana remains a Schedule I drug under the CSA and cannabis financial transactions are subject to regulation under the MCA.
4 See Notice to Issuers bulletin dated October 16, 2017 available at https://www.tsx.com/listings/tsx-and-tsxv-issuer-resources/tsx-venture-exchange-issuer-resources/tsx-venture-exchange-corporate-finance-manual/tsxv-corporate-inance-bulletins.
According to the Bulletin, companies listed on TSX Venture with ongoing business activities that violate United States federal law regarding marijuana do not comply with the requirements of TSX Venture. These business activities may include, among other things:
(i) direct or indirect ownership of, or investment in, Subject Entities; (ii) commercial interests or arrangements with Subject Entities that are similar in substance to ownership of, or investment in, Subject Entities; (iii) providing services or products that are specifically designed for, or targeted at, Subject Entities; or (iv) commercial interests or arrangements with entities engaging in the business activities described in (iii).
The Bulletin states that, as part of TSX Venture’s standard continued listing review of listed issuers, TSX Venture selects issuers for in depth reviews based on their continuous disclosure records. As required by the TSX Venture manual, each listed issuer is required to disclose material information regarding its business and affairs. As part of its continued listing review of listed issuers in the marijuana sector, TSX Venture contacted listed issuers at the end of 2017 for a more comprehensive review of their marijuana-related activities (if any) in the United States. If a listed company engages in activities that are contrary to TSX Venture’s requirements, TSX Venture has the discretion to initiate a delisting review of that company.
Thanks. That's pretty much a non-answer answer as it gets. It says the same thing on his linkedin page. The other company could be his investment fund or it could be a car wash. Who knows? lol
Looks the same as last month.
Can you post the text or screenshot?
I'm not sure I understand what you wrote. They are selling the shell to a third party?
This is a little bit of a odd situation. If they 8k the Finncann, they'd be tipping their hand about the new corporation before the super 8k states what's in it. Is that the proper thing to do? I don't know. I'm not an expert.
I think they are doing whatever they are legally required to do. Ideally, everything would be transparent, but things need to progress in a specific order. Once GRN Holdings is official, I don't think this would be an issue.
Alternatively, maybe GRN Funds and Pacific Merchant aren't in the Holding Company so it would all be a mute point anyway. I'm not blind to that possibility either, though I think it's unlikely. I believe the audit of these companies is what's taking so long to file the super 8k.
Not yet. There is obviously no reason to file an 8K for a private company. That does not mean GRN Funds will not become part of the merger. Is it so bad to make assumptions about this? I think that is what everyone invested is doing.
The Finncann deal alone is worth that much and more. That's at least one thing that can be verified. But that's only a FRACTION of the businesses that "I" believe, and the DD suggests, will be within the GRN Holdings umbrella.
If people want to go on thinking this is just an empty shell to pump, that's fine. You are technically correct at this point. Wait until the paperwork is filed if you're scared. That's a reasonable thing to do.....
Totally expected pullback. Not worried in the least. Reset is in. Buying time is now. Next catalyst is inbound this week with some PR. Maybe tomorrow?
Gotta love low floats. It works both ways. Fill up if you can.
That math is correct. But I don't think more than one or two people are making that projection. And I'm not sure they believe it or just pumping.
I'm pretty certain you will get a fine return on your $1000. Just get in and enjoy the ride. It won't be long until we have a good idea of what's to come.
I'm only up 172%. These bags are gonna need wheels soon.
Easy 10 bagger from here. We're in the early early stages still.
Yes it was updated this morning. Result: Granted in part.
Looks like there's one more hearing next month to review paperwork by new owner. Done deal.
You should keep researching. What you think is happening is not at all accurate.
You can at least spell his name right. It'll confirm you've spent more than 30 seconds reading the DD.
I didn't say that or imply that. I only relayed my own experience. Draw your own conclusions.
I think the biggest thing we learned from the police report is that JC is a confirmed billionaire. Nobody throws that around if it's not true. lol.
Long time ago I was arrested for DWI while standing next to my car in my own driveway at 2am. Though I was drunk, the cop never saw me drive anywhere. Turns out this particular cop was later indicted for falsifying DWI arrests in order to get extra overtime pay. My case and all his other cases were dropped and the cop went to jail.
There are bad actors in this world. Some of them wear disguises.
Probably. Paying them in shares or options is a common practice. Could be cash as well, or a combination.
Take a look at IIPR and what they've done. A lot of their buys are in the 15-50M range. I would expect the average property with a large greenhouse operation would go for around 25-30M. And these exist in every single state with medical or recreational MJ because multi-state retailers are not allowed to transport across state lines. So they have real estate for growing and retailing in every state they operate in. It's a lot of cash tied up in hard assets that these companies are starting to realize they can better use elsewhere if they sell it and lease it back.
Innovative Industrial Properties acquires freestanding industrial and retail properties from state-licensed medical-use cannabis operators. The properties are then leased back under long-term, absolute net lease agreements. We focus on well-capitalized companies that have successfully gone through the rigorous state licensing process and have been granted a license in the state where the property is located.
We act as a source of capital to these state-licensed operators by acquiring and leasing back their real estate. This allows for the opportunity to redeploy the proceeds into core operations, yielding a higher return than they would otherwise get from owning real estate.
We work with licensed operators across all product types: cultivation, processing, distribution and retail.
Our sample sale leaseback terms:
Targeted deal size - $5 million to $30+ million
Additional expansion capital available
Lease term – 10 to 20 years
Initial base rent – 10% to 16% on total investment (based on property underwriting)
Annual base rent escalations – 3% to 4.5%
Security deposit and corporate guaranty based on credit underwriting
Transaction timeline – closing 30 to 60 days from signed purchase and sale agreement
The coming PR and reinstatement as SEC reporting are going to be huge catalysts for a great ROI in the near term. But it's the REIT angle that is absolutely tantalizing for me. I could seriously quit working in 5 years and live off the dividends for the rest of my life. This is no joke.
I heard about this stock from a single post on a yahoo board of all places. ihub was the only place I could find any relevant info about my future early retirement fund. lol. I joined because the DD was top notch and it was obvious I could learn a lot from a lot of you guys posting here.
He's the one who signed it. If I'm not mistaken DCGD is publicly trading.
Dated: August 14, 2019 By: /s/ Justin Costello
Justin Costello
Chief Executive Officer, Chief Financial Officer
He's clean. 10k page 16 indicates no issues to that regard.
https://www.otcmarkets.com/filing/html?id=13595184&guid=Z7yfUF3pD-ompth
Involvement in Certain Legal Proceedings
To our knowledge, during the last ten years, none of our directors and executive officers (including those of our subsidiaries) has:
• Had a bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time.
• Been convicted in a criminal proceeding or been subject to a pending criminal proceeding, excluding traffic violations and other minor offenses.
• Been subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities.
• Been found by a court of competent jurisdiction (in a civil action), the SEC, or the Commodities Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.
• Been the subject to, or a party to, any sanction or order, not subsequently reverse, suspended or vacated, of any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.
Thanks Art. I haven't been here all that long, but you were the first one I followed, for good reason. Good luck!
Do not regret not buying shares for few pennies less. Shares are still at bargain levels people! It will matter not if you made 1000% or 1050% in a few months. lol
We are still looking at cheap shares right now if this is going to $5-10 in a short time. The only logical thing to do is accumulate more tomorrow.
I honestly was thinking the same thing. There are a lot of flippers here not interested in holding more than a few days. It may not be tomorrow, but it will happen. It's no big deal. Just need to put those shares in stronger hands before we move to multi dollars.