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Phone calls to both Kaya Shacks asking which strains that they sell resulted in " I don't know" and "I really couldn't tell you". When followed up by a question of how many that they grow themselves the Salem 'superstore', which has all of 14 strains on the shelf, responded with "a handful", Portland store responded with "I dunno, I think 12 of so" maybe more.
Nice DD on the addresses of the next two locations, If I have time before going on holiday I'll try to drive by and report back.
Now that the post 10q-spin fever has broken the PPS is coming back down to reality I see. So much for the follow through. LOL
Back to bid whacks and eod paint jobs. Can say one thing for sure, this is one consistently humorous POS.
Nope, We clearly disagree, KAYS is a SCAM as far as i and many others on this board can tell.
Thank you Rookie, Another voice of reason and grace.
Maybe you could visit one of the stores
1719 SE Hawthorne Blvd., 954-2348, kayashack.com. Cash only.
Kaya Shack doesn't lack for ambition. Its website casts a long-term vision of a national chain, it carries funding from a Fort Lauderdale-based holding company and its inaugural shop opened in prime real estate on the north end of Ladd's Addition, well-sandwiched between 4-4-2 and Devil's Dill and open late for stoned convenience. The list of what Kaya does lack in pursuing those lofty goals is considerably longer. Its company logo is a teetering clip-art house with an orange rectangle window. The interior layout is cobbled and queasily lit. The walls are festooned with posters featuring such vague faux-hippie positivities as "Never Throw Away a Chance to Say I Love You," "Don't Be Eye Candy, Be Soul Food" and "It's a Good Day to Have a Good Day." Strain selection is serviceable, running a gamut of well-known standards, but bud quality isn't anything special. Also, it's a good idea to bring cash, since the nearest ATM is a few blocks away. Look, you're free to make your own decisions, but this seems like a good time to point out that the city's finest dispensary, Farma, is also a few blocks away. Maybe just head there?
By next week well be seeing 6's again. Mark my post.
Indeed , KAYS appears to have very small production capabilities, and a big spin otherwise. A 6000 sq ft grow should be producing millions in revenue or inventory. Neither of which is happening, sorry to disappoint, but them the facts. Show me any numbers from any financial since KAYS started producing that reflect otherwise if you can.
Agreed, KAYS revenues are minimal. Investing in a chain of two convenience stores would be more promising based on their current revenues.
And even after an alleged 700% increase in revenues, first quarter with two stores compared to 1 store last year without recreational MJ sales, KAYS revenues are still below average by 50 % compared to other shops in the state. Not very promising, especially if the only improvement in revenues came from doubling stores[100%] and the change in ability for all shops to sell Recreational Marijuana[average increase at all shops in oregon up 300% or more]
The only thing KAYS has actually DONE to increase revenues is to open another shop, all other revenue increases happened as a result in changing laws. Not deserving of any real management credit here folks,
I wouldn't touch this POS for a nickel. SCAM is the word of the day with these cons.
NOPE, look again, INVENTORY DOWN BY 45% no coincidence there.
The point is KAYS can't hang their laurels on having proprietary strain they haven't had available for over a year. So why do you keep repeating a clearly inaccurate statement? KAYS no longer has KAYA KUSH to offer and hasn't in quite some time, nor will they. Call the store and ask them like I did.
Not only that , maybe you should ask how many strains they are producing themselves like I did. I think you'd be surprised by their both disappointing and evasive answers.
Most shops that are successful growing their own are proud and excited to share which ones they've grown, not the case with KAYS, whose employees when called and asked about in house grown strains answered; "a handful" and "I couldn't tell you which ones off hand"[Salem] and " maybe half" and "Idont know which ones" [Portland]
Gross profits increased by squeezing inventory down to 40k for two marijauna stores. Barebones to say the least.
Funny coincidence isn't it, gross profits up 45% inventory down 45% from previous averages. hmmmm no rocket science need on this one.
re":The Company’s proprietary strain of Kaya Kush"
Funny you should mention Kaya Kush as I haven't seen it on their menu in over a year.
Another KAYS self appointed award that they couldn't prop up anymore after its announcement
As a matter of fact the" Starbucks" of Marijuana doesn't seem to have ANY of the strains that they claim to grow on their website on either stores menu for quite some time, quite the opposite in terms of consistency with strains showing up and disappearing all the time and definitely nowhere near the 30- 40 strains they announced they were growing.
http://www.kayashack.com/products/
https://weedmaps.com/dispensaries/kaya-shack-salem
https://weedmaps.com/dispensaries/kaya-shack
If I had to guess Id say they aren't growing anymore or are so bad at it that they shouldn't.
I don't believe it! Hows about show us some proof of that in the numbers as opposed to repeating KAYS old PRs over and again please 'cause it just doesn't add up on paper.
After 1 and a half years of growing marijuana this company should be showing numbers in millions either in revenue or inventory and neither is true.
As a matter of fact the inventory in the last 10q shrunk to half of what it was when KAYS only had 1 store.
Smells awfully fishy to me.
re:"This is indeed a Frivolous Lawsuit" $1.7MM for a company projecting $1mm year in revenues and owns less than 500,000 in assets does not seem like a small amount of money nor frivolous in that the the plaintiffs in the case must realize that they will never get their money even if they prevail.
This at first glance appears to be some very upset folks who want the justice they deserve after being swindled by the likes of a seasoned con.
Don't you find it an odd coincidence that the seasoned con, W. David Jones was involved in multiple securities fraud violations AND multiple fraud convictions and now he AND Craig AND KAYS are all being sued for just that type of behavior.
Coincidence maybe? I think not and I don't think many others would view this as such.
I find it funny that your posts have at first repeatedly denied the lawsuits existence to finally accept it as real and have immediately shifted to a position of the suit being frivolous.
$1 MM, small potatoes for MJ grow, let alone Grow and TWO stores. BTW, Nothing has changed about KAYS potential revenue status. For those of us who can do simple math, that 1 million dollar sum was known as a possible projection last q. And honestly I don't know what is so exciting about that number.
Two convenience stores easily produce that much revenue without the help of an alleged 6000 sq ft Marijuana grow.
A Marijuana grow that size should be making MILLIONS [plural] all by itself.
INVESTORS BEWARE!!!! KAYS=LIES!!! RED FLAG SCAM ALERT!!!!
So What? Jones is included in Lawsuit and is a financial interest in the company.
If I can make time before leaving on my European holiday[woo hoo!!] I might make the thirty minute drive down to Salem to have a look myself.
Did you happen to get the phone numbers from the For Lease signs?
Lawsuit is stated in the 10q page 27 under heading Part ll, I've supplied the link the 10q to others multiple times as per their request, but apparently some don't want to read it fully when making dismissive statements about the suit.
Quote:
Item 1. Legal Proceedings
On June 22, 2016, Daniel A. Goldin and Wally Goldin commenced an action in Oregon Circuit Court, Multnomah County, against the Company, MJAI, its direct majority-owned subsidiary, Craig Frank, our Chairman, President and Chief Executive Officer, William David Jones, a consultant to our Company and BMN Capital Group, LLC (the “ Action ”). The plaintiffs allege breach of contract, state securities fraud and state racketeering claims against the defendants arising from alleged misrepresentations made in subscription agreements with the Company entered into in October 2015 and January 2016 by Daniel A. Goldin and Wally Goldin, respectively, pursuant to which they each purchased 2,222,222 “ restricted ” shares of our common stock for $100,000 in a private transaction. In addition, Daniel A. Goldin alleges that the Company breached a purported employment agreement with him pursuant to which he was purportedly to be compensated for working in our Oregon operations through a combination of cash and stock. The Plaintiffs are seeking damages in excess of $1.7 million.
http://ih.advfn.com/p.php?pid=nmona&article=72264127
Repeated past convictions of Securities Fraud for W. David Jones may not make for a very easy dismissal.
As a matter of fact, the very filing of this suit and the string of suits to follow is exactly what brings the attention of the SEC and the Feds to a SCAM like KAYS.
re:"Lawsuit has been termed baseless"-By those being sued. LMAO!
Pretty sure that is what all defendants say when being sued, especially those still trying to sell their stock and run their SCAM for as long as possible.
Most people that file a suit of this nature have something to base it upon, Lawsuits of this nature require substantial money[tens of thousands] to prepare and pursue. Not something entered into lightly.
re:"All 4 will be operational as Recreational in 2017. " Not necessarily, even without the New Lawsuit pending, the licensing authority for Recreational Marijuana[OLCC] does not look favorably on the past criminal convictions of those who hold a financial interest in a company and have been known to deny applicants for Alcohol sales for much less serious offenses than the multiple convictions that W. David Jones brings to the table.
The fact that KAYS, Craig Frank, and career conman criminal W. David Jones are being sued in Oregon for charges like state securities fraud and racketeering is only going to make the process for approval of Recreational licensing for KAYS that much more daunting if not Impossible to complete.
As an OLCC alcohol sales license holder I should know. The screening and background checks are very stringent even when all you want to do is sell beer and wine at a convenience store. I can only imagine that while regulating and controlling a Federally illegal substance that they would be even more draconian.
Again, LAWSUIT IS IN 10q and is public knowledge for those who can read it. Maybe put on your reading glasses as print describing lawsuit is smaller than the rest of the report.
Wonder why Craig chose a smaller font? Comical really, Facts about suit that has been filed is in smallest font on report while KAYS defense position story is in large print.
Lawsuit is stated in the 10q page 27 under heading Part ll, I've supplied the link the 10q to You and others multiple times as per Your request, but apparently some don't want to read it fully when making dismissive statements about the suit.
Item 1. Legal Proceedings
On June 22, 2016, Daniel A. Goldin and Wally Goldin commenced an action in Oregon Circuit Court, Multnomah County, against the Company, MJAI, its direct majority-owned subsidiary, Craig Frank, our Chairman, President and Chief Executive Officer, William David Jones, a consultant to our Company and BMN Capital Group, LLC (the “ Action ”). The plaintiffs allege breach of contract, state securities fraud and state racketeering claims against the defendants arising from alleged misrepresentations made in subscription agreements with the Company entered into in October 2015 and January 2016 by Daniel A. Goldin and Wally Goldin, respectively, pursuant to which they each purchased 2,222,222 “ restricted ” shares of our common stock for $100,000 in a private transaction. In addition, Daniel A. Goldin alleges that the Company breached a purported employment agreement with him pursuant to which he was purportedly to be compensated for working in our Oregon operations through a combination of cash and stock. The Plaintiffs are seeking damages in excess of $1.7 million.
http://ih.advfn.com/p.php?pid=nmona&article=72264127
In excess of 1.7 million dollars doesn't look like a frivolous lawsuit to me.
Thanks for the excellent DD wshaw:.
I can not believe anybody can look at those financials and truly believe they are a good story. Have you looked at them? Here is the link to the Q www.otcmarkets.com/edgar/GetFilingPdf?FilingID=11558168
1. Outstanding Shares up 15% since 12/31/2015
Compared to Q2 2015
2.Cost of sales went from 18% to 52%
3.Gross profit went from 82% down to 6.6%
4. General and Adm exp up 53.45% ????????? ( this is a category to keep an eye on)
5. Operating Loss up 106%
These are just the things that stick out like a sore thumb.
Funny though isn't it. David Jones is included in the lawsuit brought against KAYS which includes charges of State SECURITIES FRAUD and RACKETEERING.
Just can't stop conning innocent investors I guess. Old Dog Old Tricks.
INVESTORS BEWARE!!!
re:"$KAYS now has experienced people running the GROW" Do they NOW?
By experienced, do you mean the year and a half of experience that has resulted in minimal dollars and negative inventory, or did they get rid of the rookies and replace them with seasoned pros?
Where did you get that update from? Please provide a link.
I betcha that brewery got building permits and finished the build out before the government slow down, yes?
Both sites appear to have vacant spaces available for lease...
re:"It IS happening... 2 NEW STORES!"LOL
Isn't the first time that KAYS CEO updates and announcements don't pan out.
How many times can this POS CEO make statements about opening stores over and over again without showing any proof of location or permits or the the progress of build out with the photos you love so much.
Maybe you should find those building permits since the work 'IS' progressing. Not much work can happen without permits in this state. Permits are public records that are easy to locate.
And to date, KAYS has not filed any permits for the build out of the two stores that were slated to open in less than 4 weeks.
No permits , No stores opening. No debate. Talk is cheap, especially from the Shady CEO. looks like he learned a few tricks from his career criminal conman consultant W. Dave Jones.
I don't know how anybody could view this report as positive.
Good luck with that.
And if they don't, like last years promised store to be opened soon, it shall be another promise next year and nothing else.
Just imagine how much this would rock if KAYS weren't a sloppy SCAM.
Wash, rinse, repeat.
No real news here. 10q flat as a board. More "new store" speculation but no new stores open and still no building permits or licenses approved.
And still no sign of relevant information about production.
Promoters in a frenzy after flat 10Q Earnings report!
Flat revenues mean that KAYS sales are still 50% less than an average mom and pop dispensary in Oregon.
Another 700% increase is needed just to catch up with the competition.
re:
Maybe I will even get a stock Dividend.
In fact I am waiting for Craig Frank to report the sales for Recreationl MJ at some time in the very near future.
Indeed KAYS will be forced to remain Medical if the OLCC doesn't approve recreational licenses for the company.
In light of the recent lawsuit alleging State securities fraud and racketeering brought against the company, CEO Craig SHADY Frank, and codefendant W. David DIRTBAG Jones I can see plenty of reason for speculation of a denial by the OLCC.
Especially considering W. Dave Jones chronic convictions of securities fraud.
INVESTORS BEWARE!!! KAYS=LIES! RED FLAG SCAM ALERT!!!
What proves what? Provide Links or proof please.
re":This is all here-say"Ummm It's quoted from KAYS 10q. So it actually does exist in the SEC filing just released.
I've provided the link for the 10q a couple times now, but for you, here it is one more time:
It's towards the end of the report under heading PART ll
http://ih.advfn.com/p.php?pid=nmona&article=72264127
PART II – OTHER INFORMATION
Item 1. Legal Proceedings
On June 22, 2016, Daniel A. Goldin and Wally Goldin commenced an action in Oregon Circuit Court, Multnomah County, against the Company, MJAI, its direct majority-owned subsidiary, Craig Frank, our Chairman, President and Chief Executive Officer, William David Jones, a consultant to our Company and BMN Capital Group, LLC (the “ Action ”). The plaintiffs allege breach of contract, state securities fraud and state racketeering claims against the defendants arising from alleged misrepresentations made in subscription agreements with the Company entered into in October 2015 and January 2016 by Daniel A. Goldin and Wally Goldin, respectively, pursuant to which they each purchased 2,222,222 “ restricted ” shares of our common stock for $100,000 in a private transaction. In addition, Daniel A. Goldin alleges that the Company breached a purported employment agreement with him pursuant to which he was purportedly to be compensated for working in our Oregon operations through a combination of cash and stock. The Plaintiffs are seeking damages in excess of $1.7 million.
KAYS is definitely a BUY at this time.