Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Growing pains
Aren't these numbers low? Seem like it should say at least 12 million revenues for the year ending June 30, am I wrong?
10k posted
Nice, also, Canada has a major shortage of recreational marijuana (gold) and SGMD is acquiring large companies with all the growing equipment (picks and shovels) and some storage solutions (railroad). The difference here between weed and gold is that weed is a consumable and no limit to how much can be produced.
He hasn't, you are trying to deceive.
The demand for hydroponics and cannabis storage will increase over the next few years, why would they shift from that after going all in and raking in profits?
I really thought the pps would come down today, at least to .09! But I suppose that will only happen with a filing that investors don't like. As of right now, it's extremely possible that the reason Jimmy hasn't filed an 8k or NT-10k today is because the next thing he's going to file is the finished 10k, and that can literally release at any second with expected good numbers.
The CEO has no control over the audit. Sure, maybe he can do something like threaten the manager of their auditing firm to finish his audit on time, but what else can one do about such a thing? If you have been following SGMD as closely under a microscope as I have this past year, you will know each filing had it's own challenges. The past 3-4 filings were done through auditors even though it wasn't required, and those were late. This filing is the first with a new auditor, who claims they are behind due to a hurricane, and this time it's a 10k and with so many sales from bizright, the merger and such, I dont doubt this new auditing firm made mistakes and proved more challenging than they thought. I know from someone who spoke with Jimmy recently that he was waiting himself for the 10k to complete and was disappointed at having to file an NT-10k a couple weeks ago. The fact we have not seen an 8k or another NT-10k regarding this tells me Jimmy is in the "wtf is my 10k" state and probably doing everything he can to get it out. I just wish he was the type that would tweet about what he's doing so we could be in the loop on things. But nevertheless, the price hasn't tanked, and the 10k is definitely coming soon. I know he will file the appropriate form when he actually knows what to say.
Isnt it a good sign they haven't filed another NT-10k +8k with excuse? They're probably scrambling to release it before days end
Fins can come out any time today to be "on time", lot of time left.
It's either going up or down 20% minimum Monday morning nomatter what happens IMO. Anyone think there's any chance of staying in the .09-.11 range?
Depends on how you look at it. There's no past history with this auditing firm, the past history with late financials was because of SGMD accounting, this time is different.
If it's ready during trading hours, I think they'll release it during trading hours as they have with more than one Q this year. I really hope it is released before market close.
The stop sign should be removed before market open Friday or Monday, depending on whether or not the offices of whomever reviews the fins and makes the decision is off for the holiday.
This is based on the fact that another pink sheet I follow had a stop sign for over a year, and theirs was removed only minutes before market open the day after they filed the last quarterly, however they did file that quarterly after hours so it's not the exact same situation here.
I still follow lots of marijuana stocks, that's the only reason I haven't been in OWCP. I remember responding to your post regarding those stocks, but also that was only about 7 or 8 stocks at the time. My watch list is about 110 stocks, I trade about 20 of them.
I got .125, been waiting months for a decent fill under .13 from having almost no shares at all. Still looking for more fills before big news comes
I mean 1-2 mil on the ask and small bid
Me too. Last time this stock was in a similar situation and a 1-2 mil ask on the bid at around this price, that large ask became a large bid quick and then got volume going up to .02
Oops, should have re-read before posting, I need to clarify this sentence "I'm pretty sure that SGMD is the only one going the route of acquisitions", I mean to say hydroponics acquisitions. I always liked SGMD because they don't "touch the flower", thus federal illegality does not affect them negatively.
I'd like to comment about my thoughts on today's PR. There has been previous mention about a possible NASD uplisting for SGMD, but only now is it becoming a more likely scenario than a small chance. I follow over 100 cannabis stocks, and I'm pretty sure that SGMD is the only one going the route of acquisitions. I believe this is why they are able to acquire these companies so easily. It has been speculated by some here, especially RMN and myself that Bizrite was acquired because of SGMD's marketing agreement with Plantation Corp for BudLife. But I'm thinking really it's because they just want to be a public company and they had the opportunity to do so through SGMD. Maybe they don't even like SGMD that much but like Jimmy and being a public company, who knows. But now they are acquiring Sky Unlimited (and intent on 2 or 3 more companies soon), I think SGMD has really started something here. Merge all the "small" hydroponics companies into one big one, and quickly qualify for listing on the nasdaq. This is why they said they are already preparing for listing. I can't remember the specific revenue requirements off hand, but I think 70 million is around the minimum area for listing. So, just ask yourself this.... what chances does SGMD have of being listed on the nasdaq once they are in FACT an audited 70-100m revenue company? And then ask yourself this... when they list on the nasdaq, will the price be under 1.00? Then a final question, how soon will they be a proven 70m+ revenue company? I think it can be as soon as 8 or 9 months. So potentially, buying at .10 now can yield over 1000% profits if you hold a year. That's more than triple what I make in a year trading full time, and I think 1.00 is an EXTREMELY lowball number for the pps once news comes out of listing to nasdaq... more like a number it falls down to after a huge rally over 2.00 (2000%!). I look forward to going back to this message a year from now and seeing how right or how wrong I was.
x100xPercent
If I were the owner of that auditing firm, I'd make my staff work on thanksgiving and the day after to make sure it gets done. Also I'm sure Jimmy is on top of them as much as he can (or maybe not, I dont have any clue as to his personality). I imagine their failure to produce the final report to SGMD would be a big hit for their reputation, and they know they would surely be fired if they don't come through by this deadline. I doubt the SEC will grant them another extension, so anything later than the 23rd is simply unacceptable on all accounts.
However, if they do need more time, I'm looking forward to some more cheap shares.
I'm guessing it'll be posted Nov 23 post market
I understand that there's longs in pretty much every otc stock, and many of them ride it till the end or until they can't take it anymore, with over 90% losses. Sure there's a lot of issues, but I'm a very profiatable trader and to me as it stands currently, this is a volatile stock that can and will likely pop up quickly with only moderate volume, it has done it many times after making new lows the past few weeks, on low volume I might add. So yes I do know what I'm talking about, you will see after it hits .008 or higher very soon.
Got it, and I agree with you with everything. I too, would love those updates and more. But I think they're doing an ok job, all will prove well shortly, I'm sure. They are keeping us in the loop without too many details, and I can respect that for now. I can think of a couple reasons they haven't given too many details and yes some of them can be very negative, but still they are acquiring multiple companies and going to prove huge growth over the next few quarters, so I think this sleeping disappointment of a stock will become a huge gainer from .10. Though of course nobody can say for sure if this is a bottom or not, anything extremely disappointing here on out will make the price drop even if only temporarily. I'm pretty loaded up on shares slightly over my comfort zone for any additional bad news, So crossing my fingers and waiting patiently for another week and a half.
Yes and if you sell down here, you will say the same thing when the pps goes back to 006-008 in one or 2 days (not necessarily one or two days from now)
This is a classic "trash stock" that bounces up 100-200% really quick for no reason other than a correction from so much downside. I started loading at 005 and will continue down to 0015, if it goes below 0023.
I learned yesterday the farm bill includes the hemp farming act and is basically a done deal, coming very soon.
I took photos of it all set up yesterday. Nice people, lots of products. Paul wasn't there though, guess he was too busy running the business.
Btw I hit the ask of .10 earlier when it was 5k, and then at 10k, with over 30k shares and it didn't change the ask amount. That's BS, why's it hidden?
Front, what would you like or expect Jimmy to say for an update about Bizright that wasn't already stated? Maybe Jimmy feels he doesn't have to repeat himself or reassure shareholders of the revenues? I think he wanted the 10k to be finished on time. Our inside guy said Jimmy was disappointed about the situation with their auditor, the 10k should say everything we need to know. As far as I'm concerned, bizright is consistently selling product and making $, so just wondering how you would want him to respond to your request for an update.
Woo hoo all the 10's I wanted. I'm loaded up with my original 100k shares and will load another 100k at .09 if it drops.
I believe the auditing firm will finish by the Nov 23 deadline. I believe what they say in the 8k that the auditing firm is getting it done and actively giving them all the info they need as they need it. Fins are always late but so far SGMD has done everything they have said. PPS .16 Nov 26.
They did buy Accuvape.
The auditing firm was affected by the hurricane, not SGMD's accounting department, and it's the auditing firm that got approved by the SEC for an extra extension, which correct me if I'm wrong is a very rare thing. The 10k is out of SGMd's hands, Jimmy has been waiting on the auditor to finish, so no, he was not "smart enough" to use the hurricane as an "excuse", that's totally incorrect.
Actually the bid was at .321 when that happened, ask .3399. That was strange. I think it was a late fill by a market maker. One time I got a phone call from a number on the east coast during trading hours day when I was trading sugarmade. During that time I was trying to get filled on the bid around .14 and the price had gone up to .21 and I had cancelled my buy order already when I got the call. The guy said he was a market maker and I was immediately suspicious, but he offered to fill my cancelled order at that price, while the current bid/ask was over .21. I said yes, sure and sure enough minutes later the shares showed up in my account at that price and I was instantly up about 50% on those shares.'
I guess anything goes in the OTC with market makers in control.
Pretty sure nothing has changed regarding SGMD's marketing and distribution agreement with the manufacturer for BudLife, and also pretty sure SGMD is waiting to sell it but the manufacturer probably isn't ready. I think even Jimmy Chan doesn't know when it's gonna be available to sell so he's moving on with the business.
Imagine this though... say Plantation Corp is ready to mass produce budlife in say, a year or 2 (or even a few months, who knows), and SGMD has already acquired a third or fourth hydroponics company. Think of all the sales channels they will have to sell BudLife. It's gonna be a huge boost to their revenues and the news alone about it will kick up the price big time.
This stock will probably be between $1-$2 or higher in a year or 2.
la_trader - What are you expecting to see from the 10k next week?
Oh yea that makes sense, that's good because as soon as we know he's pro-cannabis we will fly
Yea I know but the sector itself should be up. It's down as if something bad has happened for the sector. This has to be the end of the selling, I'm betting big that tomorrow is a sector up day.
The sector is down big time today! And such low volume even on FRLF. I did not expect this as so many people were waiting for Sessions to be out.
Too bad entry to the event is $400 or I'd stop by, I'll be at the trading expo there that day.