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as indicated before all the financials are here
https://www.otcmarkets.com/stock/ICBU/filings
reports are unaudited. First audit i know about is happening this year.
Facts about ICBU
Current CEO: Rick Wilson (On Board since mid 2014).
Company initially was dealt in medical services but later transitioned into the medical marijuana space. This hasn't really worked out as expected and since has purchase majority interest in a mining company in late 2016. All other assets has been sold to ISGP which is a subsidiary of EXMT.
Company has gone from reporting next to nothing in revenues to in excess of 5 million in each of the last 2 quarters (12/31/16 and 3/31/17) with each quarter reporting a positive net income.
The company has always been cash strapped and requires issuance of stock to raise funds to keep the business going.
With the new mining business and large recent contracts, it's hopeful the balance sheet will continue to strengthen and the necessity to issue stock will decrease.
the company has always been transparent in its reporting all information can be found here.
https://www.otcmarkets.com/stock/ICBU/filings
IMO - If anyone goes thru the filings and history of this company, where its been and where it is now they may realize the company has a bright future and is currently undervalued according to its book.
Disclaimer - Yes I own shares.
I would agree they normally are but they don't have to be either. Part of the problem in this situation is that we don't really know when it actually happened. For larger private offerings they would mention a date to which the price was based off of. It may be a premium to today but may not have been at the time the first million was closed. I really wouldn't be surprised if warrants were attached to them.
I'd be more concerned if the purchase price was well below the market then the .25. One thing to key on is the fact Paul Rosenberg is continuing to put money into the company which shows confidence from the CEO.
I've seen a lot of private placements. No different from any others.
The concept investors need to understand the risk/rewards of a private placement is interesting.
As you indicated before this is a penny stock. An investor should understand the risk/rewards of investing in a penny stock. The people who actually need to fully understand the risk/rewards of a private placement are those investors investing in the private placement.
The worst case scenario of any investment is losing all your money. This is well known. Again the filing of a late 10-k is irrelevant if they've filed late for the past 3 years. It becomes a normal pattern. If this was truly a concern then the stock would've fallen off the radar a long time ago.
MCIG may still file an 8k. If you look at their past history their 8-k filings always came after their announcments. I've seen companies quietly file 8-k's but not press release private placements so they are being pretty transparent.
I say sit back, relax and watch what happens.
Closing prices have nothing to do with your gains or loses. Gains and loses are based on your purchase and sell prices.
So yes it's possible a few people had 100% gains.
Also, so far no actual investor has expressed "holding the bag".
Below is an example of where people where sold pumps and left holding the bag.
https://www.sec.gov/litigation/admin/33-8308.htm
Information is still inaccurate. OS is not massive in comparision to other companies.
For example ONCI
Authorized Shares 5,030,000,000 a/o Jun 15, 2017
Outstanding Shares 3,501,737,583 a/o Jun 15, 2017
This is even after a reverse split in 2013
Capital Change=shs decreased by 1 for 42 split Pay date=06/26/2008.
Capital Change=shs decreased by 1 for 450 split. Ex-date=10/15/2013
And for full disclosure, Current leadership of ICBU has never reverse split this the stock. There is company history and there is leadership history. The direction now is totally different then it was 7 years ago in the the last reverse split under different leadership
Fully aware.
Now let's give a full picture. :)
3/31/2016 Revenues $0 Net Income (47,111) Total Assets 31,914
3/31/2017 Revenues $5,769,612 Net Income $58,589 Total Assets $25,780,280
I think i'm okay with a bit of dilution to get those numbers. Now keep in mind the revenues and Net income is just one quarter. Assuming the Revs stay constant you are looking at a 20-25 mill annual revenue company and this doesn't even include the 60-70mill china contract.
Go find me another pink sheet stock with a OS this small that's producing this type of revenue.
just a matter of opinion. Look at the history of companies such as SIRI, FB, Tesla. All companies go thru dilution since a raising capital via stock issuance is a viable solution. It really only becomes a problem if they can't generate the ROI for the shareholders.
As this sector starts to mature, you'll start seeing a lot more private equity firms making more investments into it.
The ability to tap into institutional money would be big. First you have large investments into the company which can drive up the price. The sector is really missing that. You don't need to have a higher price. Private companies get institutional investments all the time.
Interesting you got resistence to raising capital. This basically needed it if they ever wanted to see a big growth in revenues. You can only do some much by making 100k a quarter. I honestly was okay with getting a line of credit.
The fact was able to raise funds at a share price of .25 a share is pretty good and speaks volumns to what these investors think.
Also, this may be the start of potential institutional investments into the company which is what this stock desperately needs.
Let's keep the facts straight. As indicated in the definition you quoted, T trades are reports for extended market hours. Its not an alternative market where trades are taken. This is normal everyday trading.
Thanks. That's great to know.
why does that translate to more orders?
I 2nd that. I like the direction its going. I'm actually anticipating stock buyback at some point
This one seems a bit old
These shares definitely seem to be held close. For the number of shares float the volume seems to always run low. Not a bad thing.
Misleading AGAIN
Capital Change=shs decreased by 1 for 20 split. Effective date=7-23-01
Capital Change=shs decreased by 1 for 100 split Pay date=11/17/2006.
Capital Change=shs decreased by 1 for 20 split. Pay date=09/20/2010.
Rick Wilson didn't become CEO/President until sometime in mid-late 2011. So basically as long has he's been in charge there hasn't been a reverse split.
So as of right now he has no history of reverse splits of either of his companies.
This is false again, show a history where the current CEO (Rick Wilson) has reverse split ICBU. Now before the lies being I'll go ahead and provide the information for you.
Capital Change=shs decreased by 1 for 200 split Pay date=04/09/2008.
Capital Change=shs decreased by 1 for 5000 split. Pay date=10/12/2010.
The above are the reverse splits for ICBU which is prior to Rick Wilson taking over so during the current tenure there has not been a reverse split.
Since they have a nice stable business which has a good future and can provide cash flow, your more likely to see stock repurchase because the stock trades at such a discount to its true book value.
Lets be truthful and more transparent here.
Yes Authorized shares is 2bill and Oustandingshares is 1.1 billion but there is absolutely nothing wrong with that.
But, their reporting in 9/13 shows 161million shares outstanding. Way above what your claim of 60 million in 2014.
So over the last 4 years they have increased by aprox 1 billion shares due to additional purchases of other companies, the issuance convertible debt for cash and around from my last calculation less then 200million for services rendered.
This is all perfectly normal for companies who have small amounts of cash or for any company for that matter. This is nothing new.
Also, this is a high risk company which everyone knows, any loan is going to require a premium. They have to pay high interest and discount on any convertible debt.
of the 1.1 billion shares outstanding, i see 160mill shares issued for services. All else for company purchases or issued for debt/cash.
So exactly what toxic shares are you referring too?
Here we go again. Another accusation of scam but nothing to back it up. I'm okay with using the reporting to OTC as validation for the company.
https://www.otcmarkets.com/stock/ICBU/filings
Now if you disagree the information their and you think its all a like then you should be able to provide proof to contridict anything that's been reported.
Who is Chris Jensen and where is his involvement in the company?
I agree
App development at corporate level is expensive. Companies can budget anyware from 1mill-20mill for a project. Depending on the stage, it might've been cheap.
I don't think they actually filed their 10Q yet. They just press released the numbers. Typical of what they've done in the past
Of course it needs users. All apps start at 0 and the key is to gain the users. They should be able to do that in time. It's too early in the cycle to determine if its a failure. Shoot, Facebook app is sh!tty but look how much money it makes. lol
MCIG management and goals. They should be allowed to execute them. If people don't like what they are doing or the direction they go then they really should find another company that meets their criteria.
your correct. Apps can definitely bring in more money over the long term. Focus will be in the weed industry but it's has better scalability/flexibilty.
Next time i decide to look up the information then i'll hand it to your secretary "Hellen Waite". That cool?
dig deeper. I've seen documents where its been renewed. I've found the same type of document that showed an expiration prior to 2014
As far as I"m concerned MJ license comes when it comes. My personal big concern is the current business and how well it does. When the MJ business comes then I will care more about it. As far as the rollies is concerned not sure where its out. Might be a failed project. No big deal to me. Many companies have failed projects. I work for a fortune 500 and it has failed projects. Shiz happens.
In regards to big information after labor day, i prefer to just to wait till the company announces something instead of some pending news someone on this board says they have.
So what your saying is that the Mining company doesn't exist and all the financial reporting has been made up?
my comment was specific to running a business based on the technical charts of their stock
results on the most resent quarter. That's all i care about right now
Companies don't care about technical charts. They only have so much control over trading. They're job is the growth of the company and that itself would push the stock higher. In general they have done a pretty good job of both.
I'd be interested in hearing about any company that runs its business based on the technical charts its stock trades.
I think everything is all relative. Missing deadline of 10k is really non-event. They've been late the last 3 years so its business as usual. It's not like they didn't report the unaudited numbers already.
The company grew its balance sheet from 300k to 6 mill. Their revenues grew from 1.7mill to 4.7mill, their net income from operations grew from -1.4 mill to a positive 966K.
They must be doing something right.Their stock price has gone from .03 8/31/2016 to .20 8/31/2017. Something must be going right
$25000 was a convertible note that has since been converted. Its hows on the 10K.
The other 150k is considered a current liability and on the short term side. When speaking of debt you normally look at the long term liabilities and if you look at the balance sheet there is none.
Their quarter over quarter growth can't be questioned. They finally have their foot in the right place and is moving forward