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Ok how big is the unit, where does it connect, how much does it cost, how much does ONCI make?
About the Bsafe product, does anyone know how money is made by it? I read the website and understand the app functions, but who pays for the app, how much does it cost, is it subscription based? How much per month? How much does ONCI get? Steve talks about signing dealerships and having inventory. How do you have inventory of a mobile app?
Thanks for accurate info, no opinions please.
Are you saying pink sheets don't upload to Edgar Sec? Before you say yes, you sure you know what you're talking about?
That's what I was thinking. Big dealers have anti-harassment obstacles like 800 numbers and such, they probably don't care about shareholders calling because they already have thousands of calls every day, what's another 5 or 10?
Ok let me be more specific.
Why are the 10q's not uploaded to Edgar Sec Filings like other OTC stocks? My trading platform does not have OTCMarkets.com filings
Wasn't talking about the shareholder update
Why is the 10q not live?
Thank you, but why does it look like a scanned copy, why didn't it pop up over a news wire on my trading platform?
Ok I'm a little out of date on status of financial reporting. This shareholder update sounds great and confirms all tweets by the CEO. The first line says "we reported record revenue of $1,073,000 for the quarter ending April 30, 2018". Where is it reported? Is the 10q supposed to be due today, is it past due? Is there a deadline for late filing, if so what date is that?
Which broker allows using stop orders on OTC? And which allows shorting?
Today is highest volume in 4 months
yea.... it's not coming down
I sold half my shares .16, counting on another drop. If fins audit is finalizing still, could be days until posted, if more corrections needed, then over a week. Could be today though, who knows
Probably going back down to .13 what you guys think?
Doubled down at .13-.14!
.30+ within 3 days after fins.
I didn't say fins don't matter, when did I say that? I say the opposite they do matter, they were supposed to post yesterday.
And you were wrong by the way, you said drop to .15 after the fins, it dropped to .13 before the fins.
Fins posting today
You're right, financials don't always matter. But in this case it REALLY matters. You should rethink this. Last year it ran, yes, but financials were not that late and there were no promises about them coming. Investors and traders were not thinking about financials, now that's all they are thinking about. Other stocks like bitcoin stocks, GRWC, APRU, PRRE, etc with stops on them have run big without financials. But again, at the time they ran, financials did not matter. Again, in this case, everyone has been waiting for them to remove the stop from SGMD for 6 months. So investors are angry at Jimmy Chan because he said they would be released and they haven't except for the recent Q's which are not enough. Everyone wants to see the Bizright revenues proof, everyone wants to see the stop sign gone, Fidelity users want to buy. Investors that won't touch stocks with stops will reconsider when stop is gone. Just because financials didn't matter in the past does not mean they don't now, and if you keep posting about how they don't matter it seems to me that you are going from respected speculator / stock analyst by comparison to other stocks to SGMD pumper.
Been pattern trading this for months. Yesterday it felt like we were at bottom. Now today with highest volume in 2 months, it really feels like we hit bottom. Been crossing my fingers it dips to .012's but I don't even think we will go below .0136 before we see .02.
Great post Mr. name, I agree with everything you say and I remember your previous posts as well. I disagree with you about the financials being a problem though. It's a fact that it's preventing the stock price from being higher - you cannot buy SGMD if you are with Fidelity. This includes my primary day trading account, my 401k brokerage link, and another large account I trade all on Fidelity, I cannot trade SGMD, so I have to use Etrade just for SGMD and a couple other stocks that Fidelity won't allow buying. We don't know how many people out there would/will buy SGMD with Fidelity if they could, but I'm sure that when the stop is removed, Fidelity users will be happy they can step in and we may see more volume then the previous runs up because of this. Fidelity has the lowest commission for penny stocks at $4.95 as well as a non-web based trading platform so I'm sure there's a lot of people out there with Fidelity accounts that will want to buy this stock.
Yes it was a tweet that he is preparing to tweet soon about a PR that contains news about an upcoming PR about something related to sales or licensing, but that's a PR for another time which I'm sure he'll tweet about before its released. Get ready for takeoff!
MM is a market maker, I know you know that. But how would you know who's buying and selling? Sure you might see them on L2, but I look at it this way, and I'll use the last 2 months as an example. Volume for SGMD on the high end is a million shares. 1 mil at .17 is only $165,000 traded in a day. Most days less than that traded in a day. That's a very small amount of money for big boys, any person out there in the world can easily be trading that kind of money here. At any given time, one person can dump or buy a lot of shares, only $25,000-$50,000 worth of shares can move the price a couple pennies, doesn't mean it's market makers. But I really don't know honestly just my way of looking at it... seems on every board there are people pointing fingers at market makers, even when I myself make a big trade sometimes on the stock board someone will say it's a market maker.
Don't know if any MM's are pushing this in any direction, but I hope it drops more. Not likely it'll drop under .12 though unless someone decides to unload big.
Good of you to admit that you are, that's the first step into improving your decision making in the world of stocks.
Charts tell the past, not the future. The Sugarmade chart pattern tells a story of low volume, investors waiting a long time for financials and proof from the company of what they are doing. I've been trading this over 14 months and following everything. All you follow is a chart, that's obvious because you went into freedom leaf, a new stock for you, and think you're king and know everything. Reading charts and making specific predictions about the future price adds no value, and will ultimately burn your account, the sooner you learn you can't be right more than 50% of the time looking at a chart, the sooner you stop losing money or start making more depending on your luck.
Sugarmade is not a stock that you can read a chart to make a good trade. The price revolves around what the company is doing and hasn't done, I've been in this trading it for over 14 months and have felt and experienced the price changes so trust me I know. Nobody predicted the financials would be delayed this long and the price would still be down here, and that's what the chart says.
That being said, you're looking at the chart and making a prediction based on the chart. You're not taking into consideration the things in play and how close they are to becoming real, and the feeling investors have about that fact. Website changed and coming very soon, PR couple days ago confirming everything, another visit to the company by our friend tomorrow, etc etc. There are too many things to hold the price above .12, saying .10 is completely baseless and if you're basing your investment on the chart you're making a mistake because you will be relying on luck to get your fill at that price. Over the long term, the more your strategy relies on luck, the more you will lose money, just like in a casino on a craps table. The house eventually wins, being right and wrong when you have less than 50% chance means nothing.
PR Highlights that I like:
"The filing of our financial results has been delayed as we revamped our financial team and systems in order to manage the strong growth we are currently realizing and to prepare for the growth we are forecasting for future periods. While we have experienced growing pains, the good news is we have implemented some strong systems and augmented our financial staffs, which will allow us to be more timely in future reporting. We will be back on track with our reporting very soon. We continue to believe our future is very bright, as we expand our operations and rapidly expand our revenue base."
Financial Reporting - Sugarmade(SGMD) has now filed its results for the quarter ending September 30, 2018 and is in process of finalizing reports for the quarters ending December 31, 2017 and March 30, 2018. Much of the delay in reporting was caused by personnel augmentations relating to the significant expansion of revenues and operations that is occurring. Sugarmade expects to return the Company to fully reporting status over the short term and sees no major issues moving forward relative to timely financial reporting.
"The accounting and financial staffs at Sugarmade(SGMD) have been significantly expanded with these new individuals mainly concentrating on integrating new revenues streams into the previously existing and newly installed financial management systems. These integrations have largely been completed, significantly streamlining the overall reporting function."
Bold highlights above confirm accounting staff is hard at work, with both older financials and new ones, moving from their old system that caused the reporting delays in the first place, to the new one that will make timely reporting simple. Only a short matter of time before they are current and price flies. I think the revenues shown on the upcoming financials are going to surprise everyone, and with stop sign removed and Fidelity users finally able to buy... well, just think about it. Question is, how cheap can you buy your shares before we take off?
This PR from SGMD makes complete sense. They are getting everything done all at once. Everything said here reiterates what they have already told us. Refer to my post a couple weeks ago that I'm replying to, this PR supports my theory of all that is SGMD based on everything they have said and everything bailosellhai has seen in person at their offices. That being said, once they complete whichever 10q is the last from their old system, the heavy workload will be over. I believe it will be after the one ending March 30 this year. I wish I could find out somehow how far along the accountants are with the next 2 Q's.
Yes who cares if it doesn't post till next week, it's complete and I think it's gonna look good and get us out of this low 20's range. Maybe 30's quick if we get volume but the sector has been terrible.
I spoke with him today, he said Q is complete and getting final signatures, so should post today, if not then monday.
Fins posting today
Who cares, they are making progress. Why are you so annoying? We get that you are frustrated and impatient, why post more than 10 times in a day about it? I picture you crying and typing at the same time because you don't know what else to do. Your posts are spam and provide no value, all emotion and simply just annoying even to others who may share your frustrations... do you see all of them posting like you do?
Fins are coming, website is coming, budlife is coming. Possibly all this month.
I'm expecting mid 30's if no positive PR monday, or low 30's if bad PR
Fins are out
Pre market PR Monday morning, followed by feeding frenzy into the teens (+20-50%+), followed by drop of half the gains, followed by a new 1 month high Tuesday.
Just my guess.
Budlife was already released to them. Did you miss the Facebook post about it? It was released to them the last day of the quarter, on time.
I also think many shareholders of this stock are amateurs that make emotional decisions, creating the huge volatility over the past few months that I have come to appreciate. This means many investors in RBII are scared to buy low, so they buy at higher prices and get have ultimately got burned doing that. The guys that buy at lower prices are making the money selling to the amateurs on price spikes. Point being, we are at the penny range right now on relatively low volume and people are still selling to me and others at .0102. Once this runs, it's gonna run pretty hard, fear of being left out will bring increased volume and increased gains.
Most of you guys probably don't realize, theres simply not enough volume to take this stock down below .009 if even that! There has to be something to scare everyone to drive it down more than 10% under a penny. On the other hand, good news coming up can drive it up 50% or higher very fast. So everyone being scared of dropping under a penny shouldn't be scared, you should be waiting to buy not sell, as I think is the reality for most people that have eyes on this stock.
I hope they keep trying
So far my original theory of all that is going on is holding to be the most likely scenario. Based on the Facebook post regarding the website a couple nights ago, it said the new website will be able to do some things the old one just couldn't do. Part of my initial analysis of their problems, based on something that was said a couple months ago about upgrading their systems, is that they cannot sell Budlife until their systems are completely upgraded, and obviously that would include the website. When they market such a product as Budlife, they need to be ready to handle the orders. Bizright will add it to all their sales channels, and it will get sold like crazy and as it proves to be a good product, sales will increase and continue to increase month after month. My guess is that dispensaries nationwide will place large orders. Remember there's no cannabis involved so this can be sold to anyone of any age in any location in any state. They need to be able to handle this from the financial side for record keeping and reporting, and physically from staff and space. They said recently that carryoutsupplies is their "legacy" business, I don't remember where but they used that word. I doubt it can be legacy by selling paper products to restaurants that only yields a few million in revenues per year... they said that because of Budlife.
baillsellhai said they are working hard, and I believe him. He is hinting there's likely more than he is allowed to say, I take simply that there is way more going on than we know. There has to be, because we don't know s*** about anything the last couple months.
Anyway, I shouldn't be posting this because I'm hoping for some more cheap shares, but just wanted to put my own 2 cents. If you want to see more about my theory you can find it in my post history.
x100xPercent
mudpuppy just found out about this stock 3 days ago from me and 2 others on another board. All he does is look at a chart and start posting it's going lower to a support level. He's pretty much an average joe just making guesses about price drops solely based on the chart. Adds no value in his posts, wrong more than 50% of the time.