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Stoogies? lol I think the only stoogies here were averaging down from multi $s and still bullish on this stock while its trading all time lows in couple pennies range. Company is flat broke and raising money again dumping 100s of millions new shares. When they done with these shares AS will be maxed out and its only a question of time when REVERSE SPLIT hits and they start over selling again wiping out any value current shareholders have.
I don't think they even meet market cap requirement for one. Or price requirement. They'd have to do another reverse split, likely 200 for 1. Everyone in know would lose just about everything again.
Anything can happen. Who is to say note holders won't take a week long vacation to Hawaii with everyones money? Stop selling for a week and let their deep pocket friends rip it to create hype. So they could slam it back down for insane profits when they get back. They backed up to sucker in people 1 to 2s, .03 to .07s .04 to .07s .04 to .10. They'll do it again. Question is whats your risk tolerance and what you expecting to get back. Risk/reward is all that matters. Given amount of shares they still have to sell I definitely wouldn't bet the farm. But don't see anything wrong owning lotto shares which wouldn't crush you with 50% drop tomorrow.
Company is pretty much broke and bleeding cash. There is no way they are using little cash they have left buying out warrants. For one don't think they even have 6M. It looked like they ended previous agreement with note holder early so they could get access to $ that was freezed up. If they didn't need that $ quickly they wouldn't have amended the agreement. Why give note holder much better terms and allow them to make more money at investors expense? But who knows given that last misleading PR to help out note holder I wouldn't be surprised someone in management is affiliated with them in some capacity.
very possible. note holders have well over 100M shares to sell still. Hard to image they'll find that many buyers up here. They'll either have to stop selling and let this bounce only to dump it again which will create a bunch more bagholers. Or look lower. Either way stock getting heavier and heavier each day.
Why do you find it a joke that convertible note holders control the stock price?
I been telling you this for long time, as stock dropped 99%. Yet you kept buying at prices 10x 20x from here and even much higher. There is only one joke in this scenario.
As long as note holders have massive amount of shares to sell they are in 100% complete control of the price. There aren't enough buyers to push through them and stock only bounces when volume dies and they decide to let it bounce some to sucker in a new wave hopeful buyers. Outside that just non stop selling every day. Yet they not in control according to you? lol You are either a really funny guy or a complete blank.
its just matter of time before its legal on federal level. Its just Trump had real bad news week again. Time for a distraction. Plus its just another Obama policy he wants to overturn because he has an Obama flu and has to reverse everything he did. But vast majority of Americans support legalization now so just another slap in the voters face. This will help expedite both houses flipping. After 2020 elections this will be a reality.
I'd be a buyer down there too.
biggest hope is big hype before data and that note holders are done by then.
"phase 3 study on a life extending Cancer treatment with high likelihood of success"
Yet they could not find a partner or funding? Well funding that wasn't toxic? Pharmas shell out billions for promising drugs but not for slam dunk cancer drug that would have cost them 10-20M?
Uplist is not going to happen way things are. For one they don't even meet MC requirements. With OS likely in 300M+ range within few months how are they going meet min price requirements? There is no way this is going to $1.5 BILLION market cap on pink sheets. They'd have to do another massive reverse split. Price would crash again and they would have trouble meeting MC requirement.
Also they are burning through cash fast. They'll need to raise again. Which will end with this stock where its been last couple months as all old shareholder value will get wiped out again. Just got to hope note holders sell out quick enough and give this some time to bounce without a huge selling ceiling overhead.
He is not feared near .04. For now anyway. As volume slows he'll likely take a break and let this bounce some only stick those buyers foolish enough to think he is done. I just wonder what will happen once 20M or 50M shares get distributed at these prices and people start getting antsy.
These shares they will try to milk for all they can since they aren't at 82% VWAP discount as before. But to sell 123,000,000 shares isn't easy. Especially with so many stuck bag holders over head. They'll keep it low enough where others are discouraged from selling so they don't have to complete.
guess can chalk up today as a victory. Only down 12% vs 40% yesterday and probably about 5,000,000 shares sold again. Only about 115,000,000 left to sell. #PROGRESS
MAXM back from his potty break looking to lighten up his 115,000,000 shares he needs to dump
MAXM has been backing away and letting this bounce EOD almost the whole time he has been selling last 6 weeks or whatever. Even taking a day of or two to lure in buyers only to slam them again. About 115,000,000 left to sell. He'll definitely be back.
Its hard to maintain high market cap with toxic dilution. These guys haven't even sold half the shares they need to finish last note.
looks like its tanking. only 120,000,00 shares left to sell. See ya at .02
would not put much hope into buyout. Been trading for 20 years and don't even remember a single pink sheet pharma buyout of top of my head.
Company getting delisted to pinks and not being able to raise $ is a good indicator what other players think of potential. Doing toxic dilutive financing is last resort for companies. And these guys are burning through lots of $. Better hope current note sellers sell quick enough before company runs out of $ and needs to raise again.
If they left the note as is it would have taken only $2.2M worth of sells to finish it. At these prices 123,000,000 shares worth $5 million. Not really a good deal for investors. But the PR that "debt" was clear was very nice touch.
yes been churning volume at your command for months now as stock dropped $25 to .03. Only 120,000,000 more shares to go. Just slightly more than they were able to sell over last 2 months.
that looks good. Plenty left for OS to grow and stock still grossly oversold since last run, especially with how MJ sector is doing. I am sure they have a better plan than sell it straight down to no bid....
I worry about price action which is looking excellent. Get ready for .001s and .002 soon after.
Even at todays record volume they couldn't hit their max and average volume will increase. Which means that they can sell more shares than they can find buyers even on record volume day. This restriction is completely useless.
And they were selling pretty much start to finish today while stock dropped from near .10 to .05. What does that tell you?
.03-.04 should be bottom until it proves us wrong.
what kind of restriction is it when even during the highest volume day EVER they couldn't find enough buyers for what would have been 33% days volume? Yet they can sell even more at 50% lol
Someone buys 50k they can whack 50k. You buy 100k they whack 100k. Thats kinda disturbing if you think about it.
With their profit margin at this point can't blame them. I would have been market selling all day too.
holding some but its got some dilution issues still. Would think most runs will still be met with selling from note holders. Probably needs to eat though another 100M shares or so.
Looking to add better dips and selling into bounces. If it losses .05 tomorrow probably tests .04 area again which has been a good spot. Once cleaned up could see a nice run though. Thats one beat chart.
its going by note issue date not share issue date.....
lol 50% average trading volume? lol You feel thats a restriction? They couldn't even find enough buyers to hit that threshold unless they dumped it to .01.
Someone can have 55.4% of shares and still not have controlling interest. Because.... Preferred shares with xxx voting power
Why would unissued and unregistered shares be part of OS? It clearly states OS is only 114M right now. But debt holders are due a ton more shares. They are reserved but are not part of OS yet. As note holders sell what they have they will ask custodian to register and release them more shares.... That have no restrictions.... And can be sold at any time....
Not really rocket science. It happens with most heavily diluted stocks. Shares to note holders get released in batches.
There is no holding period restrictions right? So note holder gets 9.9% of the OS in shares. He sells them and has 0 shares. He can then request custodian to release another 9.9% of OS in shares. Sell them and request another 9.9% of OS. etc They set it up this way so they don't hit 10% controlling interest to trigger rule 144 restrictions.
Now that I read up more note holders are way past the holding period required by rule 144. They been holders of theses shares since June 2016 lol They just doing 4.9% and 9.9% not to trigger controlling interest issues of the 144 rule.
The Exchange Common Shares shall not bear any restrictive legend and shall be freely tradeable by the Holder pursuant to and in accordance with Rule 144. The issuance of the Rights has been duly authorized and upon issuance in accordance with the terms of the Exchange Documents shall be validly issued, fully paid and non-assessable and free from all Liens. Upon issuance in accordance herewith or pursuant to the Rights, as applicable, the Exchange Common Shares and the Reserved Shares, respectively, when issued, will be validly issued, fully paid and nonassessable and free from all Liens with respect to the issue thereof, with the holders being entitled to all rights accorded to a holder of Common Stock. By virtue of Rule 3(a)(9) under the 1933 Act, each of the Exchange Securities will have a Rule 144 holding period that will be deemed to have commenced as of June, 2016, the date of the original issuance of the Existing Note to the Holder.
Once the 2 note holders sell the shares they just got they can acquire another 4.9 and 9.9% of the OS. Once they acquire those shares they aren't restricted.
You are missing the whole point. People were saying debt is cleared and no more dilution. ITS WRONG. In your own post you saying they have 123,000,000 shares more for note holder. Thanks for proving my point there is lots of dilution left. Note holder is due MORE than all of current OS.
Now to your claim "Restricted shares that are issued have holding period restrictions." If you read the filing you'd see its false. "Common Shares shall be issued without restricted legend and shall be freely tradable by the Holder" Debt holder can sell ANY TIME with NO RESTRICTIONS.
Read the filings.... THOROUGHLY.
Its only dropped $25 to .03 since October lol
Bend nice! Was in area for eclipse. There were lot of fires in the area.
Have you been counting the T trades against the debt left with discount factored in? If so only about $20,000 left?
Would be epic time for some good news to let this run big finally.
before this last deal there was $10,562,425 note left that was being converted at 82% to vwap. It woudl have taken $12,837,103 to finish the note. They were left with $3m meaning they sold about $9.8M worth. With the 800k they got from company it makes for $10.6m which is right around the $10,562,425 note. Everything from here for note holders is 100% profit.
They already got their initial money back.... Whats left is all profit.
Its not converting at market prices... It will be more than 60M shares.