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"Mcig probably thought it was calendar days. ..lol. they've messed so many things up is not funny."
It is calendar days ...
If they correctly thought it was calendar days, then shame on them for not filing on or before 15 calendar days.
If they incorrectly thought it was business days, then shame on them for not knowing the rule is calendar days.
Indeed they have messed up way too many things ... It stopped being funny a while ago.
Delaying a required financial report is never in the interest of shareholders.
I honestly can't imagine this would be proposed as a strategy by responsible management of any publicly traded company.
Liqcig is dead.
Thank God. Was a terrible distraction from the start.
That's a classic MJNA pump PR tactic.
Create subsidiary and announce a very large purchase order or service agreement between subsidiary and parent corp.
I'll believe it when I see actual cash change hands and not numbers move around on paper.
Agreed
One reason would be if the founder and majority shareholder had a fundamental moral opposition to selling nicotine based products.
Unfortunately VTCQ may be out of that market until Paul cashes out.
In no way was I or am I questioning the validity of your posts. Quite the opposite. Your responses are based on sound logic and very well written. One could curate and assemble your posts into a book on the doctrine of MCIG apologetics.
My point is that you could try to take to heart the spirit of posts that highlight a potential negative of the company instead of responding with logical justifications that spin anything negative into a positive and give MCIG mgmt the benefit of the doubt.
I like you Les. You are an articulate and active board member that brings a lot of value to this board. I've just seen you slowly lose credibility with others through perma-optimistic posts, and I think you could be even more valuable and credible by questioning some of MCIGs actions and statements (and lack thereof).
I'll shut up now.
Les, you have to calm down and start looking for the value in people's posts instead of looking for what to disagree with.
I see you constantly defending MCIG mgmt by pointing out technically correct details, but missing the point.
Example: MCIG states they are close to finalizing two large distributor agreements. People point out "it hasn't happened yet". You reply, "it could have happened, but they may not have PR'd that it has not, so we don't know ... ". You logic is correct, but the spirit of what people are saying is "it most likely has not happened because why would they PR news that they are close to finalizing but then never PR that they closed the deal! If they had closed the deal, they would probably say so!"
MCIG has a history of PRing their good intentions and goals, but then in the cases where they don't achieve said goals, or they change strategies, they don't PR any updates and shareholders find out months later in a 10Q or from some third party news.
I'm long. I'm long a lot of shares. I think MCIG really will be a very well diversified holding company in the MJ sector and will be the #1 public company in the space.
I'm also realistic and see that they are very young, they are not perfect, and they have hit many many bumps in the road as they are learning how to grow into Paul's vision for the company.
When you defend all PRs and all mgmt decisions and argue against any post that implies MCIG as being anything less than perfect, you come across as very naiive. I can't imagine you actually are.
It would do you and others a lot of good to not always assume that MCIG mgmt is perfect, and instead realize there may be some validity to the questions and doubts people post on this board.
We agree. It's still under development.
No need to alert competitors before it's ready for prime time.
What's all this talk of limited accounting resources for? You making preemptive excuses for the CFO they hired?
Right ... Small companies developing new products in a highly competitive industry and competing against private companies with no reporting obligations would all clearly not remain silent and would broadcast their progress ...
Come on man, I'm all about calling MCIG on its bs, but be realistic ... keeping snody silent is absolutely the smart business move.
I highly doubt it is an off-balance sheet transaction.
I certainly am not an accounting expert, but I would expect VTCQ earnings will show up on MCIG's income statement and balance sheet.
Wtf is this talk of a P&L statement? We're talking GAAP accounting here, not internal corporate financial reports.
Ok, I'll bite. Why do you say it will never be paid off?
Why are you equating bankruptcy with a reverse split? Why would one prevent the other at all?
And why are you talking of bankruptcy in the first place? Everything we know of points to VPOR being cash flow positive.
Yes, I think everyone here is aware that debt has been fully paid off or close to fully paid off via conversions.
The debt converted at $0.001, so once the share price dropped below that, you didn't see any converts happening. If the price were to ever rise back above $0.001 then we would probably see volume pick up as converts re-entered the picture -- but not for long as there isn't much debt left to convert.
Because Altria paid 2.2 billion for a cigar company, you think a tobacco major is going to pay 10 billion for our podunk ecig company VPOR?
Thank you, that's an excellent definition.
As a former market maker, I can say manipulation happens all the time, but it happens in stocks where they can make money. Dollar volume is so low here that it would be hard to make any real money.
In 95% of cases, mms manipulate for short time frames so they can unload inventory ... Mms are all about making the spread and ending the day flat. They try to avoid taking directional positions.
What is your definition of manipulation?
Yes, I would expect Chevy to try and do something about false advertising.
I would also expect vitacig to take similar action. If they did not, then I agree they should have.
Whom benefited from the ad is actually not relevant. What is relevant is who created and paid for it.
As I said earlier, you or I could create an ad referencing vitacig.org, does that make vitacig responsible for our ad?
Agreed.
Clearly you're not familiar with how Internet advertising and sales conversion.
I wasn't trying to blame anyone, but since you took it there ...
The ad was by vita Korea ... The Korean distributor which is a completely separate company and not owned by vitacig.
Just because their ad referenced vitacig.org in no possible way means vitacig was or is responsible. You or I could start a vitacig distribution company, and put out our own advertisements that reference vitacig.org and claim vitacigs are fda approved and cure cancer as well. Would vitacig be responsible for our ads?
Private placement is still dilutive ....
Who told you "all of these things will be addressed"?
It sounds like you may have some great info. Can you elaborate?
Just because the ingredients in vitacig are FDA approved does NOT mean vitacigs themselves are FDA approved.
They most certainly are not, and I don't believe the company has every claimed it otherwise (though the Korean distributors had some shady marketing material implying so)
This true, loyal, quiet long sincerely thanks you for your post.
They actually hired a CFO, unless he's gone too ... Now that the deal with CAFS is dead.
What's the scenario in which they want to see a lower share price?
When they convert their preferred shares they will want the common share price to be as high as possible.
It's called currency, and I'd say it's fairly well established. There are even multiple types!
The legality is in purchasing pot...not the currency used for the transaction.
Why would they need to modify all loans if they modify HIIT's?
Aren't banks allowed to modify their own loans as they see fit?
I don't think there is any regulation mandating equal modification of loans for all.
It's up alright. But it's low volume. Still, something might be brewing. One can only hope ...
Not sure about Richard, but unfortunately his linked in page shows him starting his own company in March of this year.
So, is he only a part time EVP at mcig now?
If he hangs shareholders out to dry now, he won't have the liquidity volume come January even after a R/S. Who would buy shares just because they are at a higher price?
Yeah ... No sht. I was saying what the ideal scenario would be for shareholders.
I think you want preferred shares to convert before any R/S ... Have #2 happen before or simultaneously with #1.
Or, even better, have the preferred conversion ratio be adjusted with the reverse split.
Out of curiosity, what makes you say mark was behind all those great things?
Ok. I just thought it was interesting that he hadn't posted on the UltraReef knives Facebook page at all since being hired by MCIG and then suddenly started posting again.
Likewise, the associated eBay account hadn't made any sales during his MCIG tenure, and then suddenly started making sales again in the last month.
My suspicions are probably wrong. It probably is just that MCIG told him to be quiet. I just thought I'd share what I found in case others like yourself can shed some more light on things.
Looks like, starting in June 17th, Snody restarted his custom knife business under the name UltraReef Knives.
Is there a reason he now has time for such an effort?
I wholeheartedly agree that Mark leaving is a positive. Having him do public interviews was as terrible a decision as it was to hire him.
I think Snody leaving, if true, is also good. I'm down for MCIG hiring him to build an extractor or make a custom line of vapes, but there was nothing in his resume to indicate he would be great at heading up R&D in general.
It's very clear they have gone through a complete reorg. Hiring Maury, focusing on sales, and building closer ties with VC firms focused on MMJ are all very positive developments.
Props to Paul for having the balls to fire your friend and clean house in general.