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That is correct. Banks are under federal jurisdiction. As long as the US law says it's illegal, regardless of what the State Law is, banks are subject to money laundering and RICO prosecutions.
In fact, every single asset, cash and real estate from pot companies operating "legally" today could be seized by the feds at ANY TIME, without notice, including bank deposits. No wonder banks won't deal with pot companies. This is why it's high risk and high volatility to invest in this sector.
This is why NASDAQ won't list Marijuana Related Businesses operating in the USA. They can't take the risk of forfeiture of assets.
Not so sure that'll pass inspection. I don't see how they can report the assets and revenue from a pot company and then claim they don't own it. The primary benefit of the holding company is to isolate/reduce liability, not to subvert the law. Uplisting will come, but we'll need some regulatory or law changes first.
Honestly, I'm not trying to be negative here. I'm very positive on where this is going. Uplisting or not, this is a great buy. I just want to get the proper facts out in the open so we can discuss it.
Justin Costello is real, and he owns this thing. Progression of reporting events will take some time, but they will progress.
Sorry, that's correct. It's derived from cannabis that has THC (as opposed to hemp), but only the CBD is extracted for the drug. Still, they aren't any other pot stocks on the nasdaq that sell in the US.
GWPharma also has an FDA approved pharmaceutical license and exemption to sell THC in the USA. They are the only company listed on the NASDAQ allowed to sell in the US. And it's for a specific medical purpose, epilepsy. They are not your average medical or recreational pot company.
I'm not on the nasdaq train right now, but if you think this won't be over $4.00 within 6 months (conservatively) you're not understanding what this company (GRN) and the current share structure is.
Actually, it would lead to a higher market cap. Take a look at all the companies that do a split. Their cap gets larger afterward. Almost every time. Sometimes they keep growing and have to split again to keep the price reasonable. More shares for everyone. $$$$$
Exactly. IF it were a pump and dump, why is everyone making money EXCEPT JUSTIN COSTELLO? He hasn't sold a single share.
You may be right about nasdaq. I'm about 70% certain they won't be able to list until the law is changed. BUT, that is exactly the reason why they bought an OTC shell in the first place. Justin basically said as much since the are an MRB, they had to go OTC. It's the only exchange that'll accept them right now. Does that mean they won't be an extremely valuable company there? Of course not. There are many billion dollar market caps on the OTC.
Someday they'll get their uplist, but it may be a few years. Shouldn't really make much difference in the meantime.
I'm doubling my shares as soon as my deposit clears. Probably Tuesday. I've seen opportunities before, but none as big as this. I'm not going to be sitting on the sidelines this time wondering what could have been.
Seriously? It says the same thing on his PUBLIC WEBSITE.
We're right now in the very earliest part of the process. Paperwork, legal work, filings, approvals all take time to develop and proceed. A lot has to happen before assets start moving into the new holding company. Emerging markets aren't for everyone. If you want to be conservative and wait until you see some evidence of that, fine. Nothing wrong with that. You'll still make some money buying at $4-5 in a few months.
You could make a lot more if you want to buy now at .50c though. You just have to gamble a little and have faith.
Ha. Techotronic '89. That's when I first went to college. Good times.
Pretty simple thing to file a correction, isn't it? My guess based on the shareholder letter is he will try to set it straight for the record. He's shown no history of deception so I give it the benefit of doubt.
This is a total and complete nonissue with me. It has no bearing on anything going forward. If anyone wants to use that as warning sign to not invest in this company, that is their prerogative. Myself, I want more shares. Much more.
Why spend more money than necessary to get controlling interest? Or, perhaps the negotiated price included the former owners keeping 49% so they get PAID later. They got $300,000 upfront, but how much is a clean shell worth? Millions more apparently.
It's funny if you think about it. These gold miners struck out on actually finding gold, but hit the motherload by selling their company to the new cannabis gold rush.
None of them that have listed do business in the USA. Only in jurisdictions where it is legal by their government, such as Canada. Again, it's not that they sell weed, it's that they have to do it legally.
Canopy has a deal to buy Acerage, a large US company, the moment the US decriminalizes MJ. Why wait to close that deal or why don't they just start opening up stores now on their own, in the biggest market in the world? Because they'd have to delist if they did. That's the only reason.
I've been investing in pot stocks for years. This topic comes up dozens of times on every board I'm on. I've done a lot of research on this.
That's any easy one. Tilray is headquartered in Canada and they do not sell MJ in the USA. They sell in Canada and parts of Europe where medical is legal. I think they do sell CBD in the US, but that's legal. The only weed Tilray has sold in the US was for medical research and they received a federal exemption for that.
To sum up, no US based company with direct contact of MJ can uplist as long as federal law says it's illegal. Foreign companies who sell MJ in jurisdictions where it is legal are allowed to uplist.
My only concern with GRNfunds is if they own 20-30% stake in any MJ companies as investments or financing deals. I don't know that they do since their holdings haven't been divulged, but my guess is yes. If so, that could be a problem. I think they would have to divest of those prior to applying. (assuming they're not cleared as a holding company, which they may very well be.) MJ banking shouldn't be a problem at all.
I'm glad someone finally believes me about uplisting issues. lol I took some unwarranted criticism for mentioning that.
However, I'm still not certain they'll get approval even as a holding company. NASDAQ has declined a company from listing that only provided a software app for MJ pricing and locations on the basis they were promoting illegal substance, even though they didn't come close to direct contact. On the other hand, IIPR is listed on NYSE. They own MJ real estate and lease it to MJ growers and retailers. Surely one could argue they enable the manufacture of illegal drugs. So, it's not clear where they draw the line.
I also wonder why no other US holding company has tried to do it. Surely a big company like CURALEAF HOLDINGS, INC. would love to uplist. Curaleaf, Inc. does the actual MJ selling. The holding company has a bunch of different entities. Not sure if it's set up the same way though.
It is relevant to give his background because his character was being questioned. And still is right now I might add.
GRN Funds is not bound by SEC reporting since they are a private company. They don't have to file those docs because there are no shares and no shareholders to report to.
DCGD (GRN Holdings) is the public company. They are required to and have been filing the appropriate docs.
If that doesn't convince people that GRNfunds is going to be in the DCGD umbrella, I don't know what will.
I found this explanation of a holding company enlightening.
https://www.thebalance.com/understanding-a-holding-company-357341
and https://www.joshuakennon.com/how-a-holding-company-works/
GRNfunds is most likely not going public (merging with DCGD), which keeps certain benefits of private ownership intact. But they don't have to go public for us to gain as shareholders of the Holding Company. My guess is GRNfunds will be a 100% owned subsidiary of GRN Holdings. As a subsidiary, GRN Holding will then be able to report the assets and revenues of GRNfunds and all the other companies and investments, stock portfolios, treasury bonds, etc, they plan to have, and pay dividends to shareholders accordingly.
The Johnson & Johnson model makes sense, to me anyway, to do it this way. Especially this part:
That is, it [J&J] can go out, issue bonds at rock-bottom rates, then lend money to its own subsidiaries at rates the subsidiaries couldn't get if they were stand-alone enterprises. This reduces interest expense and, in turn, increases both returns on equity and returns on assets.
Even if that's all he did, unlikely as it is, it's still worth more than $1/share. 36M float, remember?
After the quarterly I thought it'd drop 30-50%. It seemed like a lot of people mistook this filing as the big news we've been waiting on. It's not. Not even close. I have no idea what's coming, but whatever is in the works, I'm going to wait for it. I'm already down enough that's it's not worth selling. We'll either get the news we want soon or it's back to subpenny. I'll ride it either way.
I don't know if you can put GRN in the same class as JP Morgan, with a market cap over 300 Billion. That cap would give GRN a stock price over $1300. Why even think like that?
Not a chance.
I never expecting anything from the quarterly and it's exactly as I expected. Completely underwhelming. The only chance this has of going higher is that the buyout rumor is true and happens soon. I would also accept a contract announcement of $1M plus.
I realize this is only a small portion of the company's activities. Was just thinking how a law change would benefit them or not.
That's interesting. I see no less than 6 seeking alpha news links on the GNLN ticker. Seems like in you guys' position, you would be glad about that. You find the article credible, but are incredulous it's used as news. Weird.
https://www.otcmarkets.com/stock/GNLN/news
A regulatory fix would probably be the best outcome for GRN over passing SAFE. It would still keep the big banks away and allow GRN to thoroughly fill the void.
For the benefit of the overall MJ industry though, they need the SAFE act to pass.
I only have about a $1K in this. I'll ride it down to nothing before I sell. If I lose it oh well. The chance that this is actually going to take off is not zero. So, I'm willing to gamble for a while longer. Skeptical as I am.
Actually, there's a lot to be worried about. The DD is weak and speculative. I need more than just people buying up a stock out of nowhere and apparently I'm not the only one.
WTF? That disclaimer is awesome. lol
I wish we knew more about the makeup of the company. Right now they won't qualify. Maybe they can get in with assets or market cap once we know what those are. Maybe 12-18 months to get there? But they'll need a $4 stock price before even considering it.
All we can hope is their tactics don't work. End the end it won't matter but it could cause some peeps to bleed their shares for no reason. I'm dumb enough to ride it out and not worry. lol.
Is anyone expecting earnings to be breaking news? I think we're waiting on other documents or PR. At least I am. Unless they made 100x more than last quarter or something crazy.
It's not a comprehension problem. It's a not bothering to read the words in the first place problem. The evidence is quite clear as to what is going on here. Just need to take time to read.
I got ya. I'm here for the ride wherever it takes us like the rest of you.
The lockwood deal happened a year ago. They didn't exactly bust down the door to buy Skye products since then. Why now? I'm not saying this isn't happening, but all I see is speculation at this point. There is nothing to point to that's definitive as to what going on. No PR. No SEC docs. Maybe we get it this week? That would be awesome.
LOL. Thanks for that. I'm just venting some concerns. Don't take anything from it. You've done some great work on background here but I still just see some very tenuous connections on the DD. The strongest indicator is the SP going up. And that's all that really matters in the end.
How are they undervalued? I made more than they did last year.