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Next week could be rough, sector most likely will drop on earnings announcements.
Bad thing is OGI near 52 week low will it dive below its previous bottom, very possible.
Agree with that information and have spoke the same about the next wave of earnings. Also feel with all the new CEO’s, job cuts and scaling back on buildouts we are going to see a sector improvement by Q3 or possibly a bit sooner.
These tough times could also knock out a few players, surprised no big ones have folded yet.
Dilution at its finest, OGI red today while others are up 4 to 8%.
What the heck 60,000 pieces every 8 hours, just as I stated before they probably will need to run the line one day a month if that. Total overkill but good luck to them.
First off I can’t short a stock from a brokerage link so I am not short on this. I have a long position and also use about 20% or so of it to buy and sell as the price fluctuates. Have accumulated thousands of shares by buying and selling adding those extras to my base.
As far as my intentions I have no direct game plan on my posts other than to vent my frustrations, they have made too many bad decisions recently and are using up the massive dilutive offer in record time. I shouldn’t be the only one blasting this company since many have lost big money here. If no one tells them when they screw up they will just keep screwing over shareholders I feel it’s our job and duty to contact them when they screw up. Those that turn a blind eye to the dilution and poor product offerings are similar to being married and knowing your spouse is cheating on you but somehow you justify it in your mind that it’s ok. This is your money people and they are not spending it wisely ($10 million chocolate production line???). That high output chocolate line will probably run one day a month because chocolates just are not a big seller for MJ.
Let me guess they are gonna put golden tickets in their chocolates and 5 winners will then get to see the inside of the chocolate factory lol. Actually that might be a good idea to kick off sales for their chocolates!!
Chrism0000 if the share price was near the 52 week high you wouldnt care what I say or post but the share price is down 75% off the 52 week high. This is because OGI is diluting massive amounts of shares to stay in business. They also have been very slow to react to the market/consumer needs and over estimated demand. Now they can’t make enough money to stay in business and have to sell shares to pay the bills plus have pulled back plans on additional growing rooms. That doesn’t sound like a company ready take off yet.
No one has to read my posts so if you don’t find them factful or to your liking just don’t read them.
Straight from OGI financials, “(v) Negative Cash Flow
The Company has not generated positive cash flows from operating activities. As a result of the Company's negative cash flow from operating activities, the Company continues to rely on the issuance of securities or other sources of financing to generate the funds required to fund its business. The Company may continue to have negative operating cash flow for the foreseeable future. The Company expects to continue to increase operating expenses as it implements initiatives to grow its business. If the Company's revenues do not increase to offset these expected increases in costs and operating expenses, the Company will not be profitable. There is no assurance that the Company will be successful in achieving a return on shareholders' investments and the likelihood of success must be considered in light of the early stage of operations.
(vi) Difficulties with Forecasts
The Company must rely largely on its own market research to forecast sales as detailed forecasts are not generally obtainable from other sources at this early stage of the cannabis industry in Canada. A failure in the demand for its products to materialize as a result of competition, technological change or other factors could have a material adverse effect on the business, results of operations and financial condition of the Company.”
And this is the reason they have to dilute and can no longer get conventional loans.
This is massive “ December 4, 2019, the Company established an ATM Program that allows the Company to issue up to $55 million (or its U.S. dollar equivalent) of Common Shares from treasury to the public from time to time, at the Company's discretion. Any Common Shares sold in the ATM Program are sold through the TSX, the NASDAQ, or any other marketplace on which the common shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.
Subject to securities laws and stock exchange requirements, the volume and timing of distributions under the ATM Program are determined in the Company's sole discretion. The ATM Program is effective until the earlier of December 25, 2021 and the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program, unless terminated prior to such date by the Company or the agents. The Company intends to use the net proceeds from the ATM Program to fund capital projects, for general corporate purposes and to repay indebtedness. As Common Shares distributed in the ATM Program are issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the distribution.
Distributions of the Common Shares through the ATM Program are made pursuant to the terms of an equity distribution agreement dated December 4, 2019 among the Company, and the agents being: BMO Nesbitt Burns Inc., as Canadian agent, and BMO Capital Markets Corp., as U.S. agent.
As of the date of this MD&A, the Company issued 7,302,600 Common Shares during the month of December 2019 for gross proceeds of $22.9 million at a weighted average price of $3.14 per common share. Net proceeds realized were approximately $22.4 million after agents' commissions of approximately $0.5 million. Proceeds have been raised in both USD (for shares sold through the NASDAQ) and CAD (for shares sold through the TSX) and the weighted average share price was calculated using the spot rate on the day of settlement.
And remember they said when they issued it they had no plans to use it but within a month diluted 22 million worth of shares to open market, costing shareholders millions of their money.
OGI is a dilution machine, losing shareholders money has become their forte.
Yes so far it’s a green day for OGI but there are 6 big MJ companies announcing earnings within the next couple weeks so we could see a big sector drop. And ACB already showed its cards for their earnings, 1 billion in write offs, 500 people let go. May be getting cheaper here shortly.
Geez why did I even ask, worse than trying to get a real answer from OGI.
First off are you saying their medical flower is different from their recreational flower. Secondly if its regulated so closely how did OGI sell tainted product which they have a class action law suit against them for. And also why the million dollars of returns last quarter. Or why are there links I posted of them selling ridiculously low quality flower.
It may be better regulated now when it comes pesticides or mold but the regulations have nothing to do with the THC level, freshness or humidity level which is a huge factor in the product selling.
Hunchback or any others in Canada can one of you please purchase an OGI product and answer some quality questions for us.
1. Is there a boveda or some type of humidity pack in with the flower? Many complaints OGI is putting out dry flower that smells like hay and thats the edison line
2. THC counts on the Edison products offered
3. Is there nice buds or does it contain shake too
4. Is the container vacuum sealed or sealed for freshness some way.
5. Ask if Edison brand is a good seller
I really want to know if they have improved their offerings or still sending out crap to the dispensaries.
Agree, the Canadian growers are struggling. At least now some are pulling the reins in a bit with ACB and TLRY announcing 10% job cuts. But that is out of pure fear that they may go out of business if they kept with the same game plan. The Government has not done them any favors either. Let’s hope the bottom comes next week after a bunch report earnings. This is getting ugly.
Only dilution explains why OGI doing worse than most all peer MJ stocks.
This could go sub $2.00 (U.S.) if bad earnings from others are reported next week.
Next week is huge, 6 big Canadian Cannabis companies reporting earnings.
ACB 2-10
TLRY 2-11
SPRWF 2-13
CGC 2-13
TGOD 2-13
VFF 2-13
Very hesitant to buy back in right now with that looming. Seems next Thurs or Friday this may be cheaper. We will see.
OGI may be in too deep on their chocolates with the 10 million already spent on the production line. Plus one of their top guys is a chocolatier (Willy Wonka) :)
Greg.engel@organigram.ca - Below is one of the emails, he doesn’t reply. Only Amy in investor relations answers but she has no pull and just reply’s back with canned responses.
“Greg,
The majority of your flower is low THC which in hand produces low THC vape oil. Low THC flower or cartridges are not sought after and even at a lower price point will have trouble selling. I work in the industry in the states the flower and vape oil consistently selling out is the highest THC flower and cartridges. I saw you do have a strain now up over 25% but feel the majority should be that with a few over 30%.
Cresco a Canadian company based out of Chicago is currently producing an amazing flower coming in at 36.97% THC. Sold out in a day or so each time we get it in. Also on the Canadian menu’s I have been looking at for Trailblazer or Edison flower the THC levels show large variances at times. Is there something that can be done to change that seeing it doesn’t seem possible to have the levels fluctuate that much.
With the first class facility you have it seems logical to have first class genetics. I also do many searches for the top selling Canadian brands of flower and unfortunately never find OGI as a top sold brand or strain. High THC genetics will change all that and your cartridges will test in the 80’s and 90’s vs. the current 60% THC you are currently producing. Please consider my knowledgeable thoughts on what the public is looking for. I am heavily invested in OGI and appreciate all you all do.
Sincerely,”
I also contacted them back in 2017 about their low THC products and got same type of response as I got from Amy recently, blah blah we are looking for new genetics which is bull doesn’t take 3 years to get better genetics. They are slow to adjust to market demand and if they only would of did just a bit of research in the US markets would of easily seen low THC is in very low demand. Also would of seen same for vapes which theirs are also low THC.
Many times I send them a copy of what I post here but just me obviously is not making a difference in their offerings yet.
Where I live just went recreational this year we have had mass shortages on flower/buds only thing left in dispensaries are the lowest THC flower or CBD flower. The highest THC flower that comes in sells in less than a day and lower ones pretty much sell out in order of THC level. Also left are tons of vape cartridges and many many edibles. Chocolates not a big seller here at all.
People can say THC level doesn’t matter but you need less of higher potent flower to get what your looking for and by doing that you save having to inhale mass amounts of smoke to get the same effect. Also you end up saving money as your flower last longer only needing a few hits at a time. Regardless what I say facts are facts and when you see dispensary supply and what’s being bought there is no doubt the vast majority prefer high THC. So if you say you don’t prefer a higher THC that’s fine your just in the minority. Sales don’t lie but folks on message boards do and the sad part is some here are defending a company diluting shareholders money away. Step up folks hold your company your invested in accountable for blowing your money by growing low quality weed. And then because their sales suck they have to do a dillutive offering, they are not making the best decisions lately.
Could definitely be a good product and along those lines they should do kool-aid too. Which is extremely small/thin packaging and should have good shelf life.
Ahhh dilution at its finest you lose money as the company collects it on the other side to pay for corporate dinners, corporate travel and most likely paid advertising to pump up the stock so they can dilute more.
Hopefully OGI pulls the products that are not selling and streamlines their offerings to the best sellers. On top of that a few new strains with high THC counts of over 28% would really kick their earnings into high gear.
The videos I’ve seen of the trailblazer product were horrendous just the poorest quality product I have ever seen. Ironically OGI toots their horn as a high quality product. Even the unwrapping of some Edison product online was very disappointing with very small almost sponge like buds. They need someone there with true cannabis knowledge/experience because right now they are running the company into the ground wasting water, lights and time on products no one wants.
Such a great facility pushing out a crap product thanks to Mr. Engels lack of knowledge in Cannabis. So they have a chocolate specialist but don’t have a cannabis specialist?? Is this a cannabis business or just a bunch of suits throwing darts. Seems the latter to me.
ACB, CGC and Supreme reporting next week should swing sector. ACB was not able to sell in Europe last Q because of a screw up on their part so they will be missing that revenue they had from there previously. That could end up with them reporting sub par numbers. Guessing we may see a dip next week and preparing to load some up on that dip if it happens. The push to profitability has been greatly hampered by the Canadian government and the slow MJ dispensary rollout. And OGI has done nothing to help themselves lately actually the opposite with the dilution.
Was hoping to buy some shares back at $2.50 after selling over $3 recently however may hold out till $2.25 or lower now if we get there.
Must see video
Stock dropping again today, sea of red here. Wonder why they say things are going so well but the stock has lost close to 80% of its value since last year with no turnaround in sight. Talk is cheap and that’s all OGI is doing right now. They caused the price drop by bad decision making, first on their experimental cloning which who knows if that was really what happened or did they just try to cover a bad quarter by saying that.
Then came the ax to all shareholders accompanied by one of their biggest lies yet. “Hey everyone were just gonna slip this little dilutive stock offering out there but trust us we have no plans to use it”. However within two months 25 million of it was sold diluting the stock and driving it down into the $2 range. That was a slap to shareholders faces and when it happened my game plan here completely changed to a flipping shares model.
Then for good measure add in the unsellable Trailblazer line of products they produce.
Watch this
Another miserable RED DAY, dilution kills!!
Hey we’re King if the pigs!!!
If they were positive today maybe you would have a point and they did worse on some previous days too just proves they have done nothing to differentiate themselves from all the other losers.
If you read it, talked about Canadian companies CGC and TLRY
Tilray down almost 9% today very likely due to that article.
Know what I own lol this coming from a man that carries around Pom poms and posts opinions not facts.
OGI’s dilution machine open again, huge losses accumulating.
Arrogant bastards think all shareholders are blind to there games all should of been selling at $3.50 could of bought back in a $1 cheaper raising your share count greatly. Don’t be so committed that it distorts why your here which is to make money and when the company that everyone is claiming to be so great has lost you 80% of your money since last year you have a right to be pissed and point out their issues.
It’s common for people to change their point of view as new information is provided. For instance you love somebody or something and then come to find out they were not exactly what they said or seemed to be. So your opinion changes. Folks that never change their point of view regardless what happens are truly the unlogical ones. I used to be very positive on OGI so you actually can find way more posts from me about OGI being a good company. However once I saw the Trailblazer brand on dispensary menu’s coming in at 10 to 14% THC I was shocked they were putting out such a low quality product. And to make it worse they turned that junk flower into vape oil that tested at 60% which is junk too compared to the other same priced vapes on dispensary menu’s. Then in October OGI put out an article about “rampant growth” in Canada however shortly after they released the info they had their worst revenue quarter in over a year. That rampant growth was a lie as that was also the time they started their massive dilution. Have to put out good news to dilute. So yes used to be a backer of OGI but with new knowledge and OGI completely changing how they are getting money which is massive dilution and now seeing the actual vape oil they produced I am not happy with their performance.
The only ones waffling are the folks staying consistently positive since the company has stripped them of 80% of their money since last years high.
A good quote from Eddie Veder for the blind longs “I’ve changed by not changing at all”!
Have to adjust to the environment around you or you will lose, that goes for investments and more. Let me guess your also cool with your spouse cheating on you and gambling away the families money or would your opinion change of them if you found these things out. Geez how do you not see this??
OGI down 25% in last 2 weeks, not looking good here.
Crazy so many articles about what a wonderful company this is but stock is tanking once again. There are a bunch of companies that if you pay them they write these great articles about your company. OGI definitely has some on their payroll currently. Nothing wrong with it but also a good reason why things sound so positive but the stock price keeps declining.
Dilution kills!!! This is a perfect example of a company that says one thing but does another. They said they had no plans to use the dilutive offer but within a month 25 million of it is cashed out. That was a blatant lie to try to keep the stock price up as they started diluting.
The OGI dilution machine at full throttle again I see. Doesn’t matter what anyone says here though because there are not enough people here to actually move the stock.
There is almost no way of this stock having a huge move up till the dilution is over. So why not embrace knowing what they are doing and use it to your advantage. There is good money making opps while the stock trades in this range. Sell some when a mini run comes such as an RSI around 70, then buy back when RSI around 30 to 40. Usually works well and not saying to dump all your holding to buy all back just take say 15 or 20% to play with. If you do it right you can literally accumulate 1,000’s of free shares.
“The news has also not been good in Canada. There have been complaints that the edibles and drinks introduced this month are too expensive, and have too little THC. Cannabis vapes, which were also recently legalized by the country, are under investigation by Health Canada, and sales of the products have now been banned by some provinces.
John-Kurt Pliniussen is a marketing professor at the Smith School of Business at Queen’s University in Kingston, Ontario. He told The New York Times that the legalization of cannabis-infused food is not going to result in a stampede of customers buying cannabis products:”
https://investorplace.com/2020/01/aurora-cannabis-stock-fell-again-after-catalysts-faded/
At 82 I’m surprised your investing in MJ thought your era was the Nancy Reagan pot is the devil era.
It was just ironic timing I thought. The upgrade from Raymond James was a reputable source but the Motley Fool article reads like a paid advertisement.
When do you think the company will finish diluting this and costing shareholders money, do you think they will have the whole $75 million burned up by next Q? That’s a huge amount of dilution.
2-10-20 ACB and 2-13-20 CGC will report financials if they are bad expect OGI to drop right with them. OGI is stuck in with all the other failing MJ stocks and the massive dilution proves that’s where they belong.
The Motley Fool is a joke.
Apple up 3% today
Will OGI’s ATM be turned on today???
Or is the dilution subsiding, man this company has thrown out some curve balls lately and now is the time to be selling on mini runs like the last one to $3.50 and accumulating on the dips. Even though share price is staying in a range right now you don’t have to sit blindly idle, there is still money or free shares to be made right now.
Unfortunately PNTV is ran by Mark Bradley who is not an educated business man and time after time proves he has no idea what he is doing. Also looks wasted in every video he does. The one skill he does have is lying to investors to sell shares.
Something did catch my eye recently though and that was lab results on the latest two harvests with a 26% and 29% THC count and total canabinoids over 30%. That is a quality product however is what Mark even said true did it really test that? I did some light searching for their products being sold in Nevada and found none. So really just hot air from them till we see their flower on the dispensary menu’s.