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The big 10 accounting firms can't take a new client today and complete the work in a few weeks. And they have had more than their share of scandals- did you forget Worldcom and Enron? Some of the best engineers and CPAs come out of India. Some of the smartest scientists that I work with come from India. The time to invest is before a big run up, not after.
The firm is PCOAB certified and capable of completing the audit within a few weeks. All that is needed right now as numbers were correct in first audit.
Looks like a delay of a few weeks. Great things will be happening by September with resolution of debt, SEC filing and I expect a jump in revenues in July. We will see where the share price is in October, huge upside here IMO.
There is no "toxic debt". A court date in Sept will result in summary judgement- no debt- or payment with a small number of preferred shares. Meanwhile shares outstanding are being reduced to 300 million. In the past few months the share count has been reduced over 100million.
Products are the best out there. Earnings will make a jump in the next few months and debt will be resolved. I am looking forward to some global sales starting to add to the bottom line in the fall. I have never doubted that POTN will hit at least $1.25 by December (or higher). That said, this stock would make a day trader crazy in the short term- completely unpredictable. Should be better with the new accounting firm, though.
Last PR said Diamond products were selling in 10,000 outlets.
The sales will be increasing over the next few months IMO with new product lines, especially for animals, getting traction IMO. Also hemp bill passage will bring attention and acceptance to CBD.
On target for well more than $24 million this year. Debt will be resolved by end of Sept.
As soon as Charles Vargass settles the debt payment this stock will fly. Otherwise earnings will drive it up, whenever that may be announced.
CashC- very interesting! C Vargass posted this on fb a while back to a person claiming toxic debt and no SEC registration:
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My take ? he should do his homework. They are fully reporting now. And the preferred is all held by inside affiliates that can’t sell until lock up is over and then can only sell 1% every rolling 90 days. A meaningless number for a company that is growing 500 % per year.
As I expect all of the revenue accelerating strategies being implemented by Dr. Goulding, CEO, to starting affecting the bottom line now- medtech and medi pet product lines, global marketing and expansion, natural CBD-infused beverages (based on speculative collaboration with RSHN), research and acquisition of IP for individual components of CBD with targeted activity- the share price will be in the multiple dollars next year assuming the ability to hire a competent accounting firm.
Within a year of Biotech Hemp (POTN) uplist the shareprice will be high enough for a Nasdaq listing IMO.
Aren't the quarterly earnings usually unaudited? If so, than is it possible to get June and second quarter earnings sometime soon?
Now we know why the earnings delay. IMO they will look very good once we get them. And the SEC takes a hard look at every company that registers lol. A slight delay and then on to the dollar(s) range. Maybe SeeThru Equity will reiterate this week.
Read the PR:
"The withdrawal request was not the result of any discovery of accounting or other irregularities or issues with the Company’s filed Registration Statement. A new PCAOB member accounting firm will be announced the week of July 23rd to re-certify the Company’s audited financial statements to be included in a new Form 10 filing.
Note the mention of sales to INTERNATIONAL vendors, I find this particularly exciting.
Earnings will be stellar when we get them in a few weeks. International buyers at the Las Vegas show loaded up. Even if share price has a temporary drop, it will catch up quickly when we get earnings IMO.
The company openly stated at the end of the last quarterly report that they were very confident that they would win the court case against the note holder and debt would be resolved for little or nothing if they win summary judgement.
The most recent PR about patent attorneys informs us that Dr Goulding is planning to stay ahead of the competition. The idea would be to have a specific CBD product that treats pain, another that treats anxiety, another that reduces appetite for weight loss. He has already identified the markets for whole CBD, pets and humans, and is selling in 10,000 stores. IMO we will see a big jump in revenues in the fall.
The whole CBD extract (usually supercritical CO2 is used to extract cleanly) consist of at least 10 compounds and each has different effects. As I see it, the whole extract is on the market now and the number of sellers is increasing. The best strategy to stay ahead of the market is to isolate each of the individual components and test its activity. The activity can be patented or the method of isolation. Very few companies are doing this yet.
Does the SEC registration need to occur before the uplist? If not the uplist won't be delayed.
The CPA firm was cooked not the books lol
The science and research has nothing to do with where you get the compounds that are being studied. In my lab we purchase most of the chemicals (botanicals), and import some extracts from India. We publish the research and submit patents on purchased chemicals. As long as the source has been analyzed for integrity (consisting of the correct identity and purity), the source is irrelevant.
And knowledgeable patent attorneys.
I have 9 patents and I don't produce anything. POTN not being a producer is irrelevant to having IP. You need to experimental have data to submit a provisional patent that proves your claim showing: methods for production and purification or showing what active compounds do in cells or in clinical trials etc.
I think medical CBD is and will be much bigger than THC. Compare prescriptions for pain, opiates, insomnia, anxiety (just a few) to occasional getting high after work. CBD can be taken 24h a day vs a recreational drug and could be a necessity for people with more extreme conditions like epilepsy.
POTN has the distinct advantage of having an MD for the CEO. The fact that he had the foresight to combine CBD with turmeric tells me that he is knowledgeable in this area. POTN does not have a patent for this combination yet, I searched the patent database.
There at least 10 active, non-THC compounds in the hemp/cannabis plant that are beneficial for a number of diseases and conditions including anxiety, insomnia, epilepsy, pain, cancer, appetite, diabetes, inflammation, PTSD and many more. Research is underway by CBD companies to determine which single agents and combinations are most potent for which diseases and therby obtain IP asap. Patents = $royalties.
No volume, seems like everybody is waiting....
You are right, it takes a lot of money. Sometimes small companies team up with big Pharmas to pay for clinical trials.
This is a smart move and it tells me that Dr. Goulding has products in the pipeline that he plans to patent because they have synergistic combinations of natural ingredients. This also means that they have data on the efficacy and effectiveness of these products which can be patented. Once patented, any other company that makes money from these combinations has to pay a percent of it to POTN - royalties. Royalties can provide a large revenue stream and intellectual property is something investors look for to increase value.
Yep, earnings update any day, probably tomorrow IMO.
IMO they will report June revenues with second quarter revenues. I think 3rd quarter will be much better though, since mediPets and other new products will have had time to contribute to sales.
You have NO idea what last month's sale numbers were. IMO they are holding the numbers for a big PR about 2nd quarter revenues which will come out any day now.
Funny how Brochstein never goes near a mention of POTN revenues, product quality, new product rollout, expansion into new markets.
It's all about revenues. When we see the new product sales get traction and the small amount of remaining debt resolved this stock will fly. This could happen in a few weeks, followed by uplisting. IMO we will see dollars by end of year. Long and strong POTN.
I saw an article this morning about CA not allowing CBD to be sold in stores. I think this has been weighing on the CBD stocks today.
The other thing about Brochstein's article that bothers me is that after criticizing POTN financials, neglecting to mention the strong revenues and other catalysts he ends up with a strong endorsement of a competitor, CVSI, that has SEC problems and just announced a reverse split.
Revenues are huge and growing, debt is almost gone and should be resolved within a month. Cash flow is positive, to call it anything else is a flat out lie. Stick to the facts people.
All of the debt Brochstein lists has already been paid IMO. The only note remaining is the one in litigation and the company is very confident they will win the court case. POTN needs to clarify all of this.