Engineering backround
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That is good to know because there it would be tragic a good product is given a bad reputation by distribution problems. This company has the potential to do well if they pay attention to the blocking and tackling of delivering to their customers, maintaining good product quality, and continuously developing new products to bring to market.
You misinterpret my concern. I am invested in this company also and when I read your story about not getting a response, it raises some red flags. Let's face it, if a customer places an order, gets some kind of confirmation, and then it shows that the product is shipping but it really hasn't, the customer looks for a status from the company and he can't get an answer.
Really, that is not a good thing when you are trying to build a customer base. My point is, giving a response to a customer on the status of an order should be relatively easy. It should be made clear how to get a status also like sending an email or calling an 800 line.
It's pretty obvious what will happen if this problem continues. Would be a shame not to shore up a simple issue like this when the product is gaining in popularity and notoriety.
This is disturbing. You have to be responsive to customers when they order your product. This needs to be shored up. There is no excuse for the lack of response. Every customer is important and you have to at least be responsive even though you don't deliver the product. LACK OF BEING RESPONSIVE IS DEATH.
Yes this company has growing pains and maybe they have capacity/supply issues but there is no excuse to not being responsive to at least give a customer a sense that someone cares.
A simple email: Mr 1estimator, we have your order and apologize for the delay as the product is on back order...
This costs you nothing and is easy to implement, quite frankly it is management 101. You can give customers "less than satisfying" news but you HAVE TO COMMUNICATE.
This is a miss and calls into question the competence of this management.
That would be nice and given the cold reality of news not having much of an impact the last 4 months, I'd say you are still drinking the Koolaid. 10K was delayed and the pps tanked afterword. Cheban was announced, a sniff up and the pps tanked. Pink delisting discovered and we had a sell off.
I would be surprised if significant news came out next week other than the fluff that is window dressing. We just climbed out of the death zone of the $.20's today by some miraculous means which most don't understand. We could just as easily tank next week with no news about S1 or 10Q.
You accurately called the horrific tank job when we were at $.44 and I think a characterization blatantly violating SEC regulations is a bit of a reach. What type of regulations did they break?
Certainly electing not to pay a fee and then getting delisted and not informing their investors was a major fiasco. 90 companies got bounced for not paying the fee and 65 righted the ship right away. It took MCIG longer and they were not forthright in disclosing what happened to their investors.
Well, how delightful for your company, congratulations Comrade. Maybe you will foresee another gorgeous trade next week tracking the upside again.
$.305 still stinks. They finally came out and clarified the pink sheet delisting fiasco. The uncertainty of why that happened did not help the pps at all when there is grand discussion of listing on the NASDAQ. The old news uncovered on the trademark was ok, doubt if it had much of an impact today. This management needs to give an update on the S1. They need to give an update on the 10Q and file it on time. Asking for a delay for timely filing the 10Q should be a red flag knowing that the numbers aren’t that good. Where is the official news about the 2.5 product? Isn’t that news worthy to publish? If this CEO is “transparent”, he better get out on the street and stop the 30% hemorrhaging of his company pps with some vision of the future. If this is not just another bogus fly by night pink sheet company, it’s time for this CEO to deliver on the plan to differentiate itself from the OTC neighborhood it currently is in. Specifically define plans for new distribution channels and all ways to expand product capacity and availability with sales projections. It can’t happen soon enough.
Clarified pink sheet delist, Published old news that went under the radar. Need and update on S1 and 10Q.
Only if they don't issue timely filing delay like they did for the 10k. The late 10k produced a slight bounce then it trashed to $.26. Hope the 10q is not equally disappointing.
Per your research, the typical lead time was up to 15 business days if the SEC approves the IPO. That would put the notice of effectiveness at 9-15.
Would be nice if it happens... and then happens sooner, which would be any day now.
Nice to see upward movement with volume. This all could turn to crap in the afternoon with another sell off as the recent uptrends have been tepid at best.
Real indicator will be what the pps closes at today. I can't believe the old news about trademarks spurred this bounce. Seems like the street might know something else is coming.
High Volume, gap up. Do we have a dead cat bounce or are there buyers coming at these prices? SDevil should weigh in. A lot of attention one way or the other...
Trademark Old News, Fluff... Will it stop the bleeding? Remains to be seen. We need a status report in the S1. Need a statement on the 10Q, when it will be filed and the expected results. We need an explanation for the pink sheet delisting. Need an official announcement of the 2.5 product launch.
Where's the beef?
Have to own MCIG 2 days before the SEC declares notice of effectiveness. Once effectiveness is declared, I believe you can sell your MCIG and still get the dividend. Once the effectiveness is declared, it will take a few weeks before the VCIG shares are deposited in your account along with a few weeks before VCIG is traded. Les has the timing detailed in one of his prior sticky posts(34926).
Essentially, you have be holding MCIG when if and when the SEC announces effectiveness in order to get the dividend.
According to Dan, who analyzed the lead time of S1 submission to notice of effectiveness approval for several recent company filings, the lead time was typically 15 business days. for an 8-25 filing, that puts us to 9-15. That's assuming MCIG management was smart enough to respond to close the 9 comments from last SEC return. If we have to go through round 5, the credibility of this management is in put into question.
What do we know about the company today that we didn't know two weeks ago
can't think of a single company out there who uses rappers as brand ambassadors
Hey Wolfo, Hobo is frustrated with a tanking pps and apparent lack of management effort to right the ship. There have been a series of misses and miscues that have contributed to the ugly mess we see on the chart for the past 2 weeks.
As far as the marketing plan goes, traditional methods are being tested. I've never heard of these rappers and the Kardashian sycophant and when I ask my daughter who they are, she readily acknowledged their notoriety. So having these celebrities as sponsors is new track that should pay dividends on a startup that is lean with funds needed to market their new products. I don't see these endorsements as a waste at all.
Hard to watch a sell off when you are bleeding to death and have happy thoughts about the current company status.
GV, are you averaging down our do you think this is a good entry point that won't last very long?
Large Volume, tracking 6 million after on hour
I was told that the OTC pink sheet issue was that they did not pay the fee yet needed to stay on the tier they were bounced off of. They were 25 of 90 who were still bounced off as of 2 days ago. Info came from contacts recommending strong buy for MCIG weeks ago. They still are convinced that once news breaks, a number of releases, the pps carnage will stop and pps will move in the right direction. They also feel shorts are beating this pps to a pulp which I question.
Real question, will company stay in business? Hard to fathom a company that has so much going on in product areas MCIG, VCIG, and launching a new LCIG that they would go under.
Half the feedback yesterday indicated this business is a scam. Doesn't appear that way with products being sold and sponsors being added. It's seems like some management incompetence that failed to meet commitments made on timely financial reports, IPO launch, product announcements, no explanation of pink sheet de-listing.
Short interest was way down yesterday so the sell off with long term investors.
Appreciate the honest answer and you started to bleed today. I started bleed at $.45. Wonder how it will feel if this breaches the $.30 mark. Could be there tomorrow.
They are on round 4 of the S1. If we assume this management are smart enough to address the 9 SEC comments to finalize the deal, The SEC has been taking about 15 business days to process a notice of effectiveness. Given that window, this is week 2 so we should expect something any day.
Of course that assumes the S1 is approved. If it isn't then we plunge into oblivion. What do you make of the short interest on this pps?
Are you averaging down or averaging up thinking this price won't be available again?
Shorts are cleansing the weak:
We are only this low because of one thing, over a million short shares need to be covered and with computerized trading programs they are controlling the bid/ask in order to slow cover by those that run scared or are impatient. We trade with emotions, they trade with software...
Breaching the $.30 level is death. Amazing how this pps has gone in the toilet so fast the past 2 weeks on the heals of a dividend announcement. My sources claim the shorts are beating this to a pulp just before they announce the dividend so the can ride in at the lowest entry point, short interest was 47% yesterday, has to be well over 50% today.
What is really surprising is most that are "long" on this board put the CEO on a pedestal like he is some kind of wonderful, benevolent, leader that is concerned about shareholder welfare. To me, this is borderline delusional when you observe the sloppy mistakes this company is making in marketing and communication.
The "don't worry, be happy" attitude of some is a front which masks some fundamental issues this company has: Late financial reports, dragged out IPO, "truck marketing scheme, OTC delisting to PINK - no explanation.
Almost like a house of cards scam characteristic of Pink sheet companies. Where's the beef?
9-2, Short interest 47%,
http://www.shortanalytics.com/getshortchart.php?tsymbol=mcig
Any comments on how this is affecting the pps? Resident bashers laugh at the notion of manipulation.
25 of 90 are pink including MCIG. The rest are QB. There must be a reason 65 are QB now and MCIG is still Pink. It's a little disturbing.
Diving PPS, Fear, Pro Posters weighing in and piling on, Criminal shorts wanting in at the lowest point, Longs dismayed with confidence shattered considering cutting losses. No news, late news, uncertainty.
It all reeks of something that is about to happen when it seems that something is terribly wrong.
Good, I'm glad it's on your radar. There are a lot of good things about to happen with this company that should distinguish itself from just another MJ penny stock. They are caught in a slow period where some good things are about to break, new products, more sponsors, second quarter financials, and the IPO which could be within 2 weeks.
If this this stock is viewed differently than the MJ sector, it will move sooner than the next MJ wave which also should be watched around election time. Over half the states will allow medical MJ which should provide a sector boost that will impact MCIG.
Name a store where I can walk in an buy a VitaCig
There are no stores, yet. I believe they are awaiting the next product version or 2 to get the quality robust before they go full bore on distribution panels. Not a good idea to scale up if your product design is not rock solid and proven in the marketplace with consumer feedback. You start putting this on the shelf without having your quality up to par or being able to supply the volume, you have a disaster. They appear to be moving slow and steady.
He won't name the stores because he can't. Speaks in general platitudes with no specifics.
The generation that is trying to kick the tobacco/nicotine habit is tuned into Ross, Bam, and Kardasian sycophant Pleban. I asked my daughter and her friends if they ever heard of these celebrities and they knew a lot about each of them.
These rappers/ realities stars connected to the products will influence sales in a positive manner for the launch of these products.
The point is, they wouldn't even propose an r/s, unless " the pps is strong enough " to sustain the pps post r/s.
Reverse Split is death. If this pps isn't strong enough to rise up on sales and earnings within 2 years, a reverse split gimmick won't help it. Reverse split would be time to bail out and hope you are ahead
Short interest 45% 8-29
http://www.shortanalytics.com/getshortchart.php?tsymbol=mcig
Heavy fear in the air as them sell off rages and confidence is shattered in the company we thought was a gem. The crater is near despite the chartist's doom scenario. We will hug the dismal low $.30's level until some information is published. 3-4 more days of gut check with bone tossed in every other day. If you can stomach the downtrend you can consider when this position runs the other way, this pps should run steady to the upside when it is least expected. Investors typically get caught with their pants down after they bail a late winner.
The company is sound. It's doing the right things. They are not perfect and there are some gaffes and management shortfalls and this is not a deal breaker. All in all, they will stay in business and not fold like the trend indicates today.
Gather up your nuts, put them in a bag, weather the misery and look for the upside in September. The long view will get you well in 4-6 weeks. If you got some balls, double down like the posters who spew platitudes who are not bleeding to death yet.
Buy on fear Comrades.
Best Regards,
Lofaus2014