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I'm sorry. Misunderstood. However, your point is a bit irrelevant. These are all multimillion to billion dollar cannabis companies that have completed a RM. What difference does it make where the shell was located? They are all legit.
If I wanted to give you Canadian companies I would have started with Canopy Growth, Aurora Cannabis, Medipharm, Aprhia.
These are ALL American MJ companies. With the exception of Tilray, they ALL SELL MJ IN THE USA. OK, so Charlotte's Web only sells hemp CBD so I could have skipped on to the next one, which also did a RM.
https://www.newcannabisventures.com/cannabis-company-revenue-ranking/
Are all OTC Reverse Mergers scams? NO! Proof:
Here are the top 10 US cannabis companies. Notice how they took their company public (RM=Reverse Merger). Notice what exchange they list on. And notice what type of company they merged with (mostly mineral/mining sector). GRN is doing what the top companies in the sector have successfully done. GRN is following the cannabis model, no question.
1. Trulieve Cannabis Inc > Schyan Exploration Inc RM 9/2018 on OTC
2. Curaleaf Holdings Corp > Lead Ventures Inc RM 10/2018 on OTC
3. Green Thumb Industries > Bayswater Uranium Corp RM 6/2018 on OTC
4. Tilt Holdings > Santé Veritas Holdings Inc (+ 3 others) RM 12/2018 on OTC
5. MedMen Enterprises > OutdoorPartner Media Corp RM 4/2018 on OTC
6. Cresco Labs > Randsburg International Gold Corp (empty shell) RM 10/2018 on OTC
7. Harvest Health & Recreation > RockBridge Resources Inc RM 11/2018 on OTC
8. Tilray > IPO on NASDAQ 7/2018 (Don't sell MJ in the USA)
9. Marimed Inc. > IPO on OTC 5/2012
10. Charlotte's Web Holdings > IPO on CSE 8/2012
? GRN Holding Corp > Discovery Gold Corp RM on 7/2019 on OTC
No. If I'm not mistaken, SEC rules don't allow him to do so before the filings. That will all come out in the Super 8K soon.
Not saying it'll stay there, but a Tilray type run is not impossible with this float given the right momentum. Tilray had around 17M float when they ran, so I don't see $300 happening like they did, but you never know. And honestly, GRN might be a bigger company than Tilray. We'll find out soon enough.
It'll pass $5 two days after the super 8k. $15 by December. Then there's always the chance it goes on a one day trip to the moon and back. $50+ for a short time.
Flippers gotta flip I guess. Doesn't matter if it's on the backs everyone else.
Second catalyst coming in 12 trading days with the court hearing. Will probably climb steadily leading up to it that week. Great buying opp right now even if it drops a little more.
That's right. We can talk about it, but it won't happen as long as MJ is federally prohibited. Once the laws change (or they divest of any MJ holdings) they should be good to go. The feds need to de-schedule MJ or pass a law like the SAFE ACT that would remove the threat of federal prosecution.
JC himself said they are a MRB, marijuana related business, and that's a no go per big board policy given the current regulations. They also have to meet the other minimum requirements for stock price, etc., which they do not right now.
Okay lol. I guess the 2.8B market cap of Curaleaf isn't real and their OTC reverse merger was a pump scam just waiting for the dump to happen any time now.
You can't discount this merger because some others have been scams. Plenty of others are not. You do know that US operating MJ companies can't list on the big boards right? If you think they should have IPOd on the NYSE like UBER, well that just isn't possible. They are prohibited. GRN and all the others US pot stocks are on the OTC for a reason. Once you understand that, it all makes sense why it went down like this.
RMs are quite common actually. In fact, almost every US MJ stock on my watch list (about 20) have completed a reverse merger as a means of a fast/cheap IPO.
Recent reverse mergers in MJ space:
LDVTF Lead Ventures RM with & changed ticker to CURLF Curaleaf Holdings Corp
OutdoorPartner Media Corporation (not listed) RM with MMNFF Medmen Enterprises
TCNNF Schyan Exploration Inc RM with Trulieve Cannabis Corp.
AGEEF Apogee Minerals RM with Halo Labs
Randsburg International Gold Corp RM with CRLBF Cresco Labs
I could go on.
Wait...I'm sensing a theme with defunct mineral companies. Interesting.
You completely obfuscated. They have their names attached to GRN now. Google will show it forever. Would they do that if they thought it was a scam, culpable or otherwise? Obviously, they would not. It is laughable to think these seven esteemed professionals have been duped by JC.
So are these advisory board members, all well-respected and influential people in the industry and community, ALL of them, participating in a pinky shell scam to make a few bucks and destroy their reputations in the process? Or do you think they are victims of Costello's villainous tentacles like the rest of us?
But they ARE his to profit from. Nobody manages assets for free. ;)
This article helped me understand what's happening, or going to happen. Good read if you're not familiar with the custodian process.
https://otcmarketresearch.com/understanding-custodianship-plays/
Is it known if there will be any challenges in the court hearing for custodianship? Family, debt holder, major stockholders, etc? Or is this pretty much a done deal formality?
Not on the OTC markets. If they ever get to the big boards, then sure, they can change their symbol again.
That's beyond my knowledge, but I've read others say that GRN Funds will be audited, but in a limited scope. Not like public corporations.
Holding companies can own private companies. GRN Funds will most likely be a wholly owned subsidiary of GRN Holding Corp, and remain private. As stockholders of GRN Holding, we get to benefit from the reported revenue and assets of ALL companies and assets under their umbrella. Including investment portfolios, treasury bonds, equity stakes, real estate, or whatever. This is much bigger than just one asset since JC has interests all over the MJ and Hemp space.
If you did not have 10-12M dollars in your bank acct, and there was a way that you could, in one day, would not not do it? Can't fault the guy for screwing the rest of us really. I would have done the same thing. And really, it only screwed the ones who sold at a loss, whom I feel for. The ones who sold and made major profit can now buy back way more shares than they had before. And the ones who held just have to keep holding. It's really a great opportunity to double down here. I don't see any reason it can't be back to $2.50 within 2 weeks, if not sooner.
That's what I'm saying. An employee of Discovery Gold, not GRN. JC has to consider that some major shareholders of the former company would like to cash out at some point. Why not let them if they request it?
Why would he not? If he owned the shares, worked for the company, he's entitled to them. Allowing it now cost them far less then allowing it later.
The timing probably wasn't great for us. But there could have been a deal for certain shares to be released over time. If that particular shareholder had a 3-4 month lockup period since the buyout, we're right in that timeframe. (I'm guessing)
The added liquidity of those shares would probably would be beneficial for us in the long term.
The current sentiment of federal law enforcement is they will let it slide and not prosecute legitimate operations. Your concerns are why big banks aren't in it. In fact, every single MJ company operating in the US right now could have their assets confiscated and the owners thrown in jail if the feds chose to do it. The People won't allow that to happen. And JC will take advantage of that.
Risky? Yes. Profitable? Extremely.
Honestly, I give it about 10% chance of passing the Senate before the 2020 election. It's not happening.
Also, big banks absolutely will not touch MJ money until federal prohibition is repealed. Completely legalized. Banking law reform may let a few small regional banks into the arena, but you will never see JP Morgan/Chase Bank chasing that money until they are 100% satisfyed they won't be prosecuted or funds confiscated. It's not worth it.
GRN has a chance right now to be a first mover and gain market share before any of the smaller banks get in. They will not lose much after SAFE is passed, if ever.
I'm talking about the guys in the PR. The Controller and VP of Ops. There's no board members yet I don't think other than JC, if that's what you meant. I'm just saying there's hiring going on and I'm sure a lot of people will come over from GRN funds.
I've owned several stocks that changed symbols. Didn't affect trading at all. NOT AT ALL.
There have been several appointments to top positions at GRN that are not on the advisory board. Peeps are coming in to join the fun. It doesn't happen overnight. It's all coming together.
They are not uplisting any time soon. Several requirements to be met first.
What of any of those assertions has GRN engaged in?
Reining in unsubstantiated marketing claims is a far cry from calling it unsafe. That determination hasn't been made by any agency. The warning did not make Curaleaf stop production. Did not make them pull products. Did not make them relabel their bottles. It made them remove blog posts and user reviews from their website.
It isn't safe? Srsly? That's what you're going with?
I didn't sell. I'm too much an optimist, which makes me a bad trader. lol Good news is I still have all my shares and they are all still green. :)
This crash is still colored green. Weird.
I found out if you initiate the transfer from your bank to TD (add TD as an outside acct at your bank), it's 1-2 days faster. You don't have to wait for the funds to clear once it hits TD. It leaves my bank the next morning and then 2nd day it's available to trade. If you really need it fast do a wire transfer. It costs more, but it's same day.
I'd rather see a nice normal dip happen now than risk a bigger one later that might get panic driven.
I fully expect a pullback tomorrow barring any news/events. But I expected one today as well after last Friday, so...I'm down for spectacular! Up is better. :)
I'm curious, do you buy back with the same principal amount each time so you have less and less shares, or do you reinvest all the principal + profit? What do you do with the profit, if not reinvest?
I'm genuinely interested how you handle the profits, as I'm newish to trading and this type of trading is scary to me. lol Though I'm willing to learn new tricks. :))
I'll get my first 10 bagger when we hit $4.20. 420!!! I don't smoke weed, but ha it's perfect. This has to happen. lol
Ancillary MJ business geared more toward financial aspects in support of the industry. Banking, financing, investing, consulting in the cannabis and hemp sector.
The most interesting play is providing banking services to the hundreds of dispensaries that need it desperately. The hemp investments look equally promising. That sector may rival MJ.