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I like your "statistical analysis!" Again from a conversation, it sounds like SIGO needs to pay the state by the end of Jan for something (sales tax, fees of some sort, I really don't know what). So in my opinion, it would seem reasonable for the state to want to process the applications of entities that owe them money...
Important timing info on the cultivation license: I've verbally confirmed that when SIGO submitted the cultivation license to the state on Dec 23rd, the state missed reaching the county (or vice versa) before they left the office that day for the holidays, so the local county authorization wasn't actually confirmed until the staff came back to the office on Jan 2nd, which backed up the application. The license was submitted under VBF Brands which had previously been verified by the state as a non-profit (for medicinal). VBF was converted to for-profit and transferred into SIGO then used for the license applications to avoid any potential setbacks or delays that might have occurred with the Battle Mountain Genetics or Sunset Island names since they had not been previously approved.
Smart, right? Use what has already been approved. I know the naysayers will be like "show it to me in writing," which I do not have because it was via a phone conversation. But guess what? You too can make phone calls!
Because of the thin share structure, this will be quite volatile up and down, so don't let it scare you. Pick up more if you can, and watch closely over these last two weeks of Jan ;) Just my opinion, of course.
I believe the distributor license to be coming in the next few days and cultivation shortly thereafter (at the latest by the end of Jan). All in my opinion, of course. Keep your eye out...
He's thinking of 1pm Industries which transferred VBF Brands to SIGO. No $130k payment here.
By that token, any selling pressure on a stock surely means it's not a legitimate business then, right?
I love how the word "scam" on iHub doesn't mean anything other than "my shares are short." There's long pumping aka "to da moon" and short pumping ".0001 next week." Anything to make a profit, right?
I make phone calls and talk to people and get real answers. I call local government offices. I ask experts in the field. This is how I decide that $SIGO is undervalued and worth the investment - real due diligence rather than the pump, regardless of which side of the trade you're on.
The permanent licenses can not be applied for until the temporary ones that are good til May have been received. So it's no wonder - no one in the state of CA has a permanent license yet as the temp ones were just given out 9 days or less ago.
Man, I'm surprised experienced investors wouldn't do that DD already to know!
Yes this is good, however it has not been completed yet. I asked the company about it the other week, and here's why (from my post# 22399):
"The priority of everyone is the licensing process and that has taken everyone's focus. The Company is planning on reducing the authorized but will evaluate that after the licensing process is completed. The two may seem unrelated but there might be a major investment push from groups outside the US for licensed operations in California and the company doesn't want to limit itself at this time since the licensing process is pushing a number of growers out of business."
Remember the expansion plans? And the long term goal of being acquired? Things are so fluid in CA right now that there could even be international money coming into this!
The best part is that the OS has remained unchanged for months, the TA keeps giving the same number to me. And when it is increased to 6-7mil (as they've told us it will likely), it will be for expansion capital which will create more revenue!
Here's the link to look up the distributor license when they receive it:
https://aca5.accela.com/bcc/Cap/CapHome.aspx?module=Licenses&ShowMyPermitList=N
There are couple people on this board who have met Wade. One even asked him straight up why people think he's a crook. It's not me, but if this person sees this message, maybe he/she will send you a note. And in an email to the company just a few days ago, I asked what Wade's role is, and received a genuine answer. You can my post #s 22399 and 22431 for the response. So far, every question I've asked of the company has been answered promptly, and with what I perceive as sincere language. Go ahead and email them yourself: info@sunsetislandgroup.com.
And if I were you, I'd ask myself why the leadership here would repeatedly take actions that show they have shareholder interests in mind like locking up their own shares for 3 years, 8k-ing everything, holding shareholder tours of the facilities, and generally being prompt and forthright with all communicated information - IF it was all untrue and just more tinder for the fire of those who cry "scam."
In my opinion, my DD and the signs I see from their genuine communication point to the conclusion that they really want to keep this thing as open and transparent as possible. Which in my eyes means a solid investment until something is proven otherwise.
That is directed toward you, surfkast. Toward your post# 23291
If you really wanted answers to these questions, you would kindly & professionally send a request to the company asking for them, as I have repeated demonstrated that the company will comply with. Would you like to email them your questions? I certainly don't feel the need to, as I'm confident with the information the company has already provided.
I have not, I will email the shareholder group if I do. I've done what I can do. Qs and K seem to be what we get.
It's not hard to verify things, just ask. I wasn't able to find their manufacturing license on this list: https://www.cdph.ca.gov/Programs/CEH/DFDCS/MCSB/Pages/LicenseeLookup.aspx. So I emailed the company and asked, and they sent me both their adult use and medicinal temp manufacturing licenses less than an hour from when I requested.
I'm consistently professional and courteous in my interaction with the company, and they've responded very timely to every request I've made with the information I'm looking for. Ask yourself, WHO DOES THAT if they're not legit and not working to serve their shareholders?
Get ready - the temp cultivation licenses are coming. Local jurisdiction has given authority to proceed and the state license applications are being processed. This thing is going up.
And approval from the county for cultivation and state is processing their application!!!
Manufacturing license, hello!!!
This thing is so thin! License news and this is $3-5 easy.
What'd I say? Send enough requests and they'll 8k it. There really is a pattern of consistent and forthcoming communication, and via filings for that matter. Seems like these guys really want to do right by their investors if ya ask me!
"But I haven’t seen one email or question about the Company that went from OTC to NYSE that he did the reverse merger for and worked for a 1 year helping them with the transition. Look at AAC (which was FTER). Also he did the reverse merger for EVIO which is a lab testing company. I personally don’t know anyone else who has a company go from OTC to NYSE."
$SIGO
There are 149 active temp cultivation licenses so far that can be searched for on the state licensing website. None of the ones showing are from Monterey county. I have no idea if this is the entirety of approved licenses so far, or what the deal is.
https://aca6.accela.com/CALCANNABIS/Cap/CapHome.aspx?module=Licenses
Email back from SIGO:
info@sunsetislandgroup.com
9:45 AM (6 hours ago)
to me
The Company was certified by EnviroCann on August 11, 2017. The Company has decided not to renew its certification. A 3rd party certification is not required or necessary. The Company obtained the certification under the belief that it would allow the company to sell its product for a higher price. This belief was based on the fact that California had no testing requirements for cannabis and a certification from a 3rd party regarding pesticide use was thought to be an advantage. However, the Company learned that the buyers in California didn’t take the certification from Envirocann or any other 3rd party into price calculation. Additionally, On November 16, 2017, California’s three state cannabis licensing authorities publicly noticed proposed emergency regulations for commercial medicinal and adult-use cannabis.
Under the new regulatory scheme, cannabis products will need to be tested to measure the following: cannabinoids, (THC, CBD, and others), foreign material, heavy metals, microbial impurities, mycotoxins, moisture content and water activity, residual pesticides, residual solvents and processing chemicals, and terpenoids. Additionally, each batch will have to be tested for the above items. These test will be conducted by the licensed distributors and the lab conducting the tests will be able to randomly select samples for batch testing. As such, the grower or manufacturer no longer has control over the batch testing. When these new regulations were announced in November and to be effective on January 1, 2018, the need for 3rd party certification and testing became a non-issue as the for the first time California will have testing requirements for cannabis. Once the November 17, 2017 guidelines were announced the Company began to review the need for the Envirocann. The Company took into account the response from buyers about the certification, the impact of the new testing requirements and the fees associated with the certification. The cost to maintain the certification was estimated to be as high as $50,000 a year. This estimate was based on the Envirocann annual fee plus the $0.40 per square foot for each harvest. Based on those three factors the Company concluded that the certification was not worth the expense associated with it. A list of the California testing requirements along with each states testing requirements can be located by the link: State by State Testing Requirements.
In 1996, California became the first state to allows the sale of Cannabis. The new regulatory environment in California is continuingly to evolve and making changes to a 20-year old market that was essentially unregulated with regard to testing or quality standards. As such, the industry is currently in a state of flux and is changing at a rapid pace. These new regulatory and tax scheme on cannabis is part of California’s plan to eventually collect an estimated $1 billion in annual tax revenue from the legal adult-use marijuana industry. In order to collect $1 billion a year in taxes, the state will need to reach a projected $7 billion in annual legal recreational cannabis sales. The LA times published an articles that estimated the aggregate annual sales in medical marijuana were $2 billion a year (about 25% of total marijuana sales) and sales in the illegal market were $5.7 billion (75%). The goal would be with the new safety and quality testing standards the cannabis available on the legal market will be a safer and higher quality product than that on the illegal market.
The November 17, 2017 guidelines changed the thought process significantly. The Company has filed for two temporary licenses which covered the operations as of August 12, 2017 (the date grandfathered by county). The Company will apply for additional needed space once the annual licensing process has begun. But the Company is focused on maximizing what revenue from its current space and looking to expand its canopy through the current leased space. This can be accomplsiehd through a tiered or raised system. However, the Company learned that the bare land it we lease was once a greenhouse that can be rebuilt since the greenhouse was in xistence prior to 2016. Since the Company alreadys pays for the land under its current lease it make more sense to expand on that that spend cash on taking over something else.
The priority of everyone is the licensing process and that has taken everyone's focus. The Company is planning on reducing the authorized but will evaluate that after the licensing process is completed. The two may seem unrelated but there might be a major investment push from groups outside the US for licensed operations in California and the company doesn't want to limit itself at this time since the licensing process is pushing a number of growers out of business.
Wade has been the main source of capital and financing to get us where we are. Without him and his group there would be no company or operations in Northern California and the 18 employees we have would be working somewhere else or unemployed. Wade provides as much support that we need. He was brought in people who have worked at large companies and major agriculture companies as consultants to help the company build out its reporting infrastructure that will be required under the new laws – which is called seed to sale. This type of reporting has not existed in California and many have been overwhelmed by the burden on it. It is interesting that one to two certain people constantly refer to his companies that didn’t work out. He helps start-ups go public on the OTC. Start-ups by nature are risky and then add OTC. But I haven’t seen one email or question about the Company that went from OTC to NYSE that he did the reverse merger for and worked for a 1 year helping them with the transition. Look at [SYMBOL REMOVED BY POSTER TO AVOID DELETION]. Also he did the reverse merger for [SYMBOL REMOVED] They harp on the negative but ignore the positive. I personally don’t know anyone else who has a company go from OTC to NYSE.
My email to SIGO management:
Hi Valerie,
Thank you for the hard work you & the team have been putting in to keep things moving forward successfully. I've got a couple quick questions that hopefully you can answer directly, or file an 8k and answer as I'm grateful you've done in the past. I spoke with TJ on Dec 19th thinking he was still involved in the day to day operations. He referred me to you (and this email address) as with whom to address my questions.
1. In my conversation with TJ, he mentioned that the team & master grower are "making some changes and improvements." Would you please explain those changes that are pertinent to investors such as myself due to their impact on the business? Would you also please clarify the current strategy for expansion? Many square footage numbers for expanded growing have been suggested in various filings and PRs over the course of the last year. TJ mentioned that some of these expansion plans are on hold to avoid "biting off more than we can chew." I realize strategy can change and this business is a living organism, but what expansion, if any, is currently being executed? I understand this could include more efficiently utilizing the current leasable space as TJ eluded to with a raised or tiered canopy.
2. The company's EnvirOrganic certification (or any certification at all) from Envirocann has recently come under question. Would you please confirm this, and if so, why? If this is the case, is there another certifying company being used and what is the status, or what is the plan for re-certification?
3. In previous filings, the announcement was made about reducing the authorized shares to 60 million from 100 million. I've spoken with the transfer agent in the last couple days and it's been confirmed at 100 million still. While the greatly reduced number of outstanding shares has the most current impact on the state of my investment, why has this reduction of the authorized not happened yet? How was the 60 mil number arrived upon, or was this just more of a way to increase investor confidence?
4. Finally, what role does Wade currently play in the company? There are investors who question some of the actions he's taken in the past, with what looks to be some validity to their arguments. Some investors believe he is really calling the shots behind the scenes and Valerie/TJ have been in their roles to execute his plan. I'm not looking for "reassurance" that everything Wade has ever done has been squeaky clean - I'm an intelligent investor and know there are (at least) two sides to every story. And I'm great at my due diligence, so I've come to my own conclusions. What I'm asking for is clarification on his current influence in the company, regardless of whether he's in an official capacity or not.
Thank you for your time and effort, I look forward to hearing back from you. And of course, I'm eagerly awaiting official licensing news and more complete revenue numbers in the upcoming 10-k.
Regards,
Received an email back from SIGO after sending one last night. Will post both my email and the response.
If Valerie & the team receive enough emails & requests asking for confirmation that Envirocann no longer certifies them and why, who is certifying now, or what the plan is for re-certification, I'm pretty confident we'll find out. Look at a number of SIGO's 8ks - they start out saying that since they've received the same questions or requests from investors, they found it pertinent for a filing rather than individual responses. The team is on it, and actually shows they care about investors and communicating effectively. Much different than what you see with most pinkys.
In my conversation with TJ the other week, he told me about how part of his role in getting so many of the initial pieces of this company together over the past year was to find long-term affordable space. He told me about how leasing costs are getting ridiculous and is also the reason for their plans to expand within the existing spaces with which they already have access - this includes doubling the space with some sort of raised canopy system is what it sounded like - my guess as to partially why they hired a master grower, and some of the changes Valerie and the team are working on. I'm not too worried about leasing costs based on what I've heard from the man that got things set up.
Mon morning I resent my original letter with a total share count and an intro mentioning our own gesture of transparency with an attached excel doc of names & emails. I have not received anything back yet.
As I've been breezing through the filings again, I think the float is a little higher than that now. Hany Salem via Capital Trust received 15 mil shares at .04 for his role in getting the Falak & Dubai boys involved. I'm sure they're past the point of lockup by now. Don't know how he could unwind those anywhere quick without killing the price, but hey, I don't think the price moves with as much agility as it did in '11-'12 anyway. What I'm asking myself is at what price/volume is he going to unload those 15 mil, assuming he still has them? Either way, still a pretty decent float at this point.
My conversation with TJ 12/19: I had emailed him with a few questions regarding licensing (now that temp licensing is live), company silence & communication, and some stock questions. He was quite friendly and forthcoming, even told me a little of his backstory. What I heard through our conversation is that his role has changed as of Oct (like it was stated in the filing) - he's been the driving force that's gotten a lot of the big pieces up and running, and now has the various experts in place that can do their thing. He didn't have current answers to certain questions and told me such. Said that Valerie would have current info and it would be better to ask her. My sense was that he was sincere - not hiding anything, not incompetent, just out of the day-to-day loop now. As it's been stated on the board here, he mentioned that Valerie has been answering emails from the info@sunsetislandgroup.com email.
Couple of things I found positively intriguing:
- They are working on the licenses and are in a good spot since they're currently legal under the medicinal side of things. While he didn't know much about the status of the temp licenses (considering it just became available to apply for on 12/18), he said there shouldn't be any problem and was sure Valerie & the team will announce when the licenses are good to go as things are changing rapidly.
- TJ is now focused on the manufacturing side now, which I take to mean oils, pre-rolls, maybe working with dispensaries, etc. I am confident this will be a growing & profitable part of the business, as it is inline with his background.
- Valerie and the new master grower are making some changes and improvements, which is why the master grower was hired in the first place, and they are also in the middle of the harvest, which are really the reasons for the "quiet" lately. Those were his thoughts.
- I called the transfer agent yesterday and found the OS unchanged from the 5,371,771 number in the iBox from over a month ago. TJ again mentioned lock up of his shares - he's going to see this through and hopefully the ultimate goal of being acquired. IMO, I can't see anyone dumping shares with what on the horizon, which I'm fairly confident will be multiple dollars in '18.
Doing due diligence is typically not hard - you just need to know where to look and it can take some time. Plus most people respect professionalism and a little creativity! I hope this helps anyone questioning their position or sitting on the sidelines.
However, Valerie is now the point person. Specific communications relating to filings, shares, licenses, etc should go to her.
Sent a LinkedIn invite to TJ with a message. Once connected, his email is visible. Sent professional email last eve, asked for his response and listed my phone number. He called me, we spoke for 15 mins.
I spoke with TJ this afternoon, number of things I asked him. I don't have time now, but I'll post later this eve regarding my email to him along with notes I took from our conversation when he called me.
New total for the board: 10.8 mil. Yes, probably about 1/2 the float and 3.9% of all outstanding shares.
I have received 22 responses totaling 9.45 million shares.
Thank to those that have responded already. Please continue messaging me, and also ask anyone else outside the board with shares because you clued them in. Also, if you know how to reach folks that don't check this board regularly, send them a note as well.
I will wait through the weekend before putting the list together to send, and provide an aggregate share count at that time as well. Thank you all!
3powershareholders@gmail.com
Thanks wakl! Appreciate your help and your constant conversation here on the board.
If you would like to be represented in the group of investors asking for more transparent communication from the company, please email me your NAME or PM me with both your NAME & EMAIL ADDRESS. If you would like to include your share count, you can do that as well. Thanks!
3powershareholders@gmail.com
Fair enough. My original thought was to provide names & emails of those represented here and an AGGREGATE TOTAL of shares to be represented as a group, not individually broken up by investor. I have no way to know where would would be at in aggregate without getting individual numbers first and adding them up...I think we hold a greater percentage of the float than some may think, but need to have everyone who is willing help me verify that. Every share counts! Until earlier this year, I had 12k shares and couldn't afford more. It is what it is. We all want the success of this company though!