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MISLEADING AND INCORRECT: Per the PR out today, you should be able to see the actual truth about this issue. Thank you. UF
INCORRECT: Please refer to post #11721 for valid information concerning this issue. The max that would end up in the O/S TOTAL would be 15M shares using their calculations and only if they decide to move forward with 750K square feet.
CORRECTION: Even that is inaccurate. They will be selling to an individual or business entity 400K shares and that same individual or business entity is investing funds into preferred in exchange for the company receiving $340,000. We don't know if any of those 400K shares will end up in the float. They may be held, they may not. Either way, they don't have them until after close of business today. UF
There's no indicator of any type suggesting a push back at $1.30 to $1.35. The arrogance of that statement is astounding. What's basically being said is, "We came in here and drove it down with all of our shenanigans so that we could load up and now we have the audacity to telegraph exactly when we'll come in and create more havoc." They disappeared to let it run and will show back up at that price point. Don't fall for it a second time. Headed higher from here. UF
Absolutely! Check the spreadsheet in the iBox. Needs to be updated on share count by 400K, but still...
$4.34 per share at 1X sales.
From the PR today, 152K x $200 per square foot per year divided by a max of 7M shares.
I'll just leave it at that... UF
They'll now allow us to discuss what is accurate and true only to re-emerge at some point to attempt the same thing they did the past few days. Lesson learned. Just don't fall for it the second time. UF
Haha!! Not always, but this PR today has $4.32 written all over it. What has happened is a cloud of concerns and confusion has created anxiety, but 152K X $200 per year per square foot divided by 7M shares max = $4.34 per share at just one times sales. If you walk away from the deliberate attempt to push it down and then just read that particular paragraph or two from today's PR, it's cut and dried. GLTA UF
And that should tell you everything you need to know as to why they're fighting so hard to push it down.
No worries, man. Once the obvious group that's shorting this has their way with this, they'll ride it back up along with the rest of us and claim they knew it was going to happen all along. LOL
Wrong. Only one tranche and it hasn't happened yet.
And it also said, " Each subsequent tranche will also be negotiated in 400,000 share increments and we expect similar or better results with each."
I don't know and I don't care. What I heard him saying what that they would be able to move to 7M shares outstanding or less and create 152K square feet at $200 per year per square foot. In my book, that's $4.34 per share at 1X sales. I'm done worrying about how they get there at those numbers. LOL
Count me out of the 20 Questions thing from here on out. I'm going to go with what they're telling us. That's good enough for me. UF
Check out the news at SIGO today. This dude did some serious pushback on Alan Borchstein and the other naysayers. Good info. Should send the stock back on a run. GLTY UF
Refer to today's news. It doesn't get any clearer. UF
9 New Followers Overnight! Welcome to all.
..."the facts and they are indisputable." CEO T.J. Magallanes
Sunset Island Group Provides Clarity On Expansion Plans
SAN CLEMENTE, Calif., Aug. 24, 2017 /PRNewswire/ -- SUNSET ISLAND GROUP, INC. (OTCQB: SIGO) announced specifics today concerning the company's plans for expansion.
CEO T.J. Magallanes stated, "We received a lot of feedback yesterday on the 8K that we filed and most of the comments were due to a misunderstanding or misinterpretation of the information provided. I felt it necessary to share with you today specific, detailed information that's from the heart. Our company is poised for explosive growth. We are passionate about what we do and we are proud of our accomplishments to date. Our team has worked hard to get us to this point. We now have three options. 1. Continue to operate within the confines of our current 22K square feet. 2. Expand to an already pre-determined minimum of 152K square feet, or 3. Swing for the fences and expand quickly in phases to a total of 750,000K square feet. For us, option number one is off the table. It would be unfair to our operations team and unfair to our shareholders. Option number two is already in the works. Option number three is still on the table, so we need you to understand something clearly. We have a great plan of execution. It is laid out and ready to implement step by step and we would ask that shareholders trust us to execute our plan. The misconceptions today seemed to come mostly from how we presented the plan for the S-1 so let me lay that out for you step by step."
Mr. Magallanes went on to say, "Today at opening of business, our company has approximately 4,031,771 share outstanding. At close of business today, our company will have approximately 4,431,771 shares outstanding or an increase of 400,000 shares. In exchange, at close of business today, the company will have placed into our hands $340,000 in expansion capital. The particulars of the S-1 and how it will work, how we execute the strategy, the long term preferred share conversion, etc. are all irrelevant at this point. Again, we ask that you trust that we are doing what is in the best interest of the company and shareholders. What we are telling you is that with the first tranche, 400,000 shares will be added to the outstanding and $340,000 will be placed into our account. On a side note, we do not like debt of any kind and throughout the expansion, for the life of our business, we want to keep debt completely off the books or at least to a minimum. We currently have $300,000 in debt and that will be paid off in full immediately. That will leave us with $40,000.00 in expansion capital from the first tranche. Each subsequent tranche will also be negotiated in 400,000 share increments and we expect similar or better results with each."
He continued with, "We currently have 22K square feet of space and to expand to the pre-determined minimum of 152K square feet, we will need to raise approximately $1,560,000.00 in expansion dollars. Using the same or similar results to the first tranche, that would require us to add a little under 2,000,000 additional shares to the outstanding share count. So to expand to 152K square feet that will generate approximately $200.00 annually per square foot of grow space, we project the need to have approximately 6,267,000 shares outstanding and no more than 7,000,000. To keep this release from getting too lengthy, suffice it to say that to determine a projected share count, revenue projection and equivalent expansion capital raised to max out 750,000 square feet, the same calculations are applicable."
Mr. Magallanes finished up with, "What we are telling you as clearly as possible is we have a unique and effective way to raise funds in place, a plan to keep the outstanding share count to a minimum, a way to create explosive revenue growth without the creation of any substantial debt, much less toxic debt and at the same time doing so without the payment of any salaries to officers of the company, only monthly dividends; the exact same dividends received by our shareholders. Now I'm not familiar enough with all of the various places where people congregate online to discuss our stock, but apparently like all other topics these days, there's ample opportunity and multiple locations where people take the opportunity to share false or misleading information about our company. What I've covered with you here are the facts and they are indisputable. As I've stated before, I spend the majority of my time focused on the operations and I'd like each of you to see it in person if possible, so let me personally invite any and all that still have questions about our business, our expansion plans or just questions about the cannabis business in general to consider joining us on September 16th. We would love to meet you in person, we'd be glad to show you our current grow facility and the expansion square footage as well. On a final note, I hope that this clears up any confusion and makes it crystal clear where our company is headed and we ask for your continued support."
The Company has decided to hold an additional shareholder event on September 16, 2017. This is due to the overwhelming requests from shareholders. The Company will pick up those that have reserved a spot for the tour at 10:30am at the Courtyard by Marriott Salinas Monterey (located at 17225 El Rancho Way, Salinas, CA 93907) and drive them to the farm. On this visit to our current operations, we will also take the time to visit the proposed 750,000 square foot expansion facility which is all interconnected and all located on the same property.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Depends on your perspective. For those that read that 8K and get it, it was a gift today. Who would have thought? Glad you're here, Tidal! UF
I guess the question is, do we want to see them expand or not? Sure they could cancel S-1 and stick with 22K sqft for the next few years and make good money and even pay out dividends, but that won't make them much of an acquisition candidate or a good long term investment. JMHO
PR maybe on this 2morrow? Let's hope...
152K square feet minimum. Thats around 7X the cuurent space. They're going to rocket forward in production and PPS. I think that's a given. GLTY UF
Oh, it's positive! Very positive, Big Daddy!
5.4M marketcap + this news? Good lord what an opportunity!!
I love the S-1 part. Genius!!
On this news, L2 ASK dropped to 100 shares at every level on the way back up.
8K out just minutes ago on SIGO!!!
You got that right! Welcome back, my man!
Major news and it only hit iHub. That had to have some bearing on how it traded I would think. UF
That's awesome Heidi!! Headed there for Thanksgiving week. Will have to make it one of my stops. UF
You forgot the mention any additional shares they're going to issue between now and 2030. Why not? Same reasoning, right?
I'll have to take your word for it, but it is interesting that the other tenants are all robotics companies... UF
7.6M Market Cap right now on a company getting ready to announce whether they decided on 152K square feet or 230K square feet. That's as "NO BRAINER" as it gets... UF
FACILITY TOUR DETAILS: (From the 8K) The Company will be holding an additional shareholder facility tour on September 16, 2017. Shareholders who have made a reservation for the facility tour will be picked up 11:00am at the Marriott Courtyard in Salinas. The Company will drive the individuals to the facility for the tour. The Company will provide food and refreshments. Those that are interested in attending should make reservations by emailing their name and photo id to info@sunsetislandgroup.com.
Just a few random musings…
Garett structured the company in order to have the ability to complete multiple acquisitions.
I still get the feeling that SMP may be an additional acquisition for OMVS soon. It would only make sense due to the close working relationship they have with RAD. Who knows, but the synergies are there.
Anyway, from RAD’s News Feed we at least know that SMP and RAD will soon announce the location of additional JOINT SPACE in the Bay Area replacing SMP’s current headquarters (or it looks like maybe they have already and I just missed it).
Steve tweeted this out on August 9th with a picture of him and the SMP CEO…
New corporate offices for @smprobotics @RADBotSecurity #growth
but no address…
I ran across a San Francisco address for SMP today…and speaking of additional acquisition candidates, check out the companies that all have the exact same SF address…
391 Sutter Street, Suite 303 San Francisco, CA 94108
SMP Robotics – http://www.globalbusinessnorthamerica.com/index.php/special-features/item/506-smp-robotics-systems-corp
HoverSurf - https://www.hoversurf.com/contact-us
TOR Robotics - http://torrobotics.com/about-us/
So what am I saying? Nothing really. Just speculating, wishing, thinking, hoping, musing…
It's been on a 15 day run and down only 11%. I think it's due for a consolidation day or two. It'll be fine. Long term play here.
Most have no idea. This company can suck up market share faster than any company I've seen and in THE industry to be in for the next few years. Doesn't get any better. UF
There has never been a better time that right now to load the boat on SGBY. This will be attracting a whole different level of investor in September and that tiny adjusted float will be devoured quickly. NOW is the time to begin accumulating every share you can get your hands on. GLTA UF
(2) Within days, we will have approximately 4M shares left outstanding as we convert shares held by officers from common share status to preferred.
Email them and ask them your questions. I have the same email connection to them that you do. All I know is what I've been able to piece together just like you. UF