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You can see the investment and valuation trend in our Deck.
http://www.sec.gov/Archives/edgar/data/1572565/000164033415000178/ex-99_1.htm
Our Series A will commence once we have signed the agreement with the City of Pasadena over CLARA.
Things are changing.
I have a feeling with Reg A+ you're going to see the OTC get slowly cleaned up. It will become a platform to provide liquidity for Reg A+ deals. Capital formation is evolving right now. We're moving towards an open source economy.
There's always going to be "scams" though and there will always be "dumb money" investing in them. In the future the "crowd" will flush them out.
I'm personally against legislating responsibility. The nanny State is a big part of the problem. We have laws to protect investors. They should be enforced. Instead it's easier to place the burden on the issuers themselves.
Tenkay,
It's a whole lot easier to run a pump and dump than what I'm doing. If you can't tell the difference, you're probably not as intuitive as you think.
If our business was considered illegal, we wouldn't have went through 10 months of SEC comments, had our filing discussed at the Director level and then had the SEC allow us to go effective through a loop hole that hadn't been used in 40+ years.
As for "promoter", that's a term you guys use. I did PR/IR work.
In 2009, I started requiring companies to provide legal approval on all press releases by a securities attorney.
As I've mentioned, I kept up with SEC regs.
Sorry to hear that lol..
Guess it was better than Camp victory, because tons of dudes have strange respiratory problems that were stationed there.
Nitwit, I remember you from back in the day. Art2gecko, JJseabrook, the whole gang that played the Pavis Corp fiasco. I think we may have started on Ihub around the same time in 2006.
I was Charlatan back in the day. And before someone tries to make a joke, it was after my favorite band at the time (The Charlatans)
That was before I became a promoter. Folks sure have gotten mean around here since then.
Actually SIAF, after 6 years, is still up 925% from the original price when I first started doing their IR/PR work (May 2009). It's also down 43% from it's all time high.
Not only did they survive the China fraud fall out, they went on to become one of the top 10 most actively traded OTCBB's for 5 years straight.
The stock was trading at $0.10 when I first took the job. They undertook a 1 for 9.9 R/S in late 2014, so that would be $0.99 a share post split. The stock currently trades at $10.15 a share.
1 out of 5 issuers I worked with could be considered a success. That's a 20% success rate. That's actually not too shabby for the start-up world.
I believe the general consensus is 9 out of 10 start-ups fail?
Also, since I first started, I've known and used Michael Williams, an extremely smart, very honest securities attorney. He has previously worked with the SEC.
I came to him in 2007 to get some advice. At the time I was the only Ihub promoter who was properly disclosing compensation. In fact, it was my "bashing" of other promoters that cause Ihub to adopt the IRP program.
I brought Mr. Williams on board for SIAF's Form 10 and I used him throughout for clients.
I pretty much can thank him for all the knowledge I have today. He took me under his wing and taught me everything I know.
http://www.gopublicdirect.com
The Army taught me something. If you want something, if you put your mind to something, you can accomplish anything. You just have to want it bad enough. As strange as it may sound, I enjoy securities law. It's fascinating to me.
The story is pretty simple really.
I did industrial/mechanical, I didn't work on toilets FYI. I did large mechanical projects for companies like Budweiser, Tyson foods and major Hospitals.
When 9-11 happened, I was motivated to join the military. So I left my nice comfortable job as a mechanical project manager and joined the Army. I operated with the secret squirrels during OIF1 and ran combat missions rounding up Saddam loyalists. In OIF3, I was deployed with a Brigade HQ unit. I was the combat driver for the 1BCT S4's OIC with a top secret clearance. This is when I got into penny stocks.
I spent 12 hours a day, 6 days a week in the Camp Taji TOC. A few guys were trading penny stocks and they got me into it. Having been an avid blogger, I quickly gained popularity on Ihub. My original alias was one of the top 20 "liked" posters. I basically sat in the TOC with the S-2 guys (intelligence group) and we traded promoted stocks. The S-2 guys taught me about how penny stock promotions worked. I took that knowlege with me after I left the Army and I monetized my popularity on Ihub.
After working in the industry for 5 years, I learned a lot. I read everything I could get my hands on. I learned from the back end how the OTC worked. With every client I learned something new. While working with SIAF, I learned a ton of stuff about the SEC and the registration process.
I'm basically just self taught with a drive to learn. I was able to start Indoor Harvest because my life experiences combined allowed me to. I made a decent amount of money working with SIAF. I learned about SEC stuff and the OTC and I had experience in logistics (Army S-4) and mechanical build.
I saw an opportunity to apply my skills and started Indoor Harvest in late 2011 with the intent to take it public. I also have been a huge supporter of crowd funding. And in 2013 I finally filed with the SEC and took the Company public.
It does add up. You've just made up your mind about what kind of person I am without having any knowledge of who I am, what I've done or what I've accomplished.
Indoor Harvest started in my garage in late 2011 and today my designs are being used at MIT in Boston and at the largest Cannabis producer in North America. We're even putting together a massive public/private partnership in Pasadena Texas.
Like I said, if you'd get over your "I hate all penny stock CEO's" attitude, you might find we have way more in common than not.
Cheers!
Elbiatcho1,
Love your Linkedin profile.
LDHL (Liesure), CEO John Ayling, was the first person to hire me to do PR/IR. He never paid me. I dropped him as a client after two months. To this day, he has never paid me.
RVGD hired me to clean up a Steve Carnes mess. I tried, but the damage was to great. However my investigation did find Steve Carnes was possibly violating Rule 144(i). I informed the CEO and he took actions which eventually led to Steve Carnes and his entire crew getting sanctioned by the SEC.
SGGC, was your typical O&G pink play. They had a small lease. The price of oil plummeted right after he set up the deal. He ended up loosing his shirt right along with the investors. The marginal wells he owned couldn't pay for themselves. So the project was abandoned.
EXPH, another clean up project. This time it was a Green Tree Financial R/M deal that went south. I got the CEO out from under the bad advice he was getting. He had a legitimate business going and was supplying Lowes and Home Depots across the country with display packages. He went public to raise capital for an expansion, a badly advised go public transaction I might add. Right as he began to scale up, the 2008 economic collapse happened. First the bank chopped his factoring. Then Lowes and Home Depot pulled their orders. He had some long time workers who had been with him for years. He ultimately didn't cut back soon enough on payroll, he was too much of a bleeding heart. He tried to keep things afloat through toxic funding, but the loss of Lowes and Home Depot ultimately caused the business to fail. Many manufacturing companies failed after the 2008 collapse for the same reasons.
BDRR, those guys seemed pretty shady, at least the person advising the CEO seemed shady. I didn't work long with them. It became apparent pretty quickly they were not going to succeed.
My last gig was with SIAF. A Joseph Muse shell sold post Rule 144(i). Once again I was brought in to clean up a bad deal. We filed a Form 10, cleaned up the company's structure, landed Swedish investment, raised over $75M and last I heard they were preparing for a NASDAQ OMX listing.
Anything else you'd like to know?
Aerofarms went a good 8-10 rounds of rejection before being awarded their patent.
I never expected this to be easy.
We will update investors on the non-final action in our upcoming quarterly report and what we've done in response.
Since I can't comment on it directly, until we've provided disclosure, I did grab some articles that might help understand what a non-final action is.
http://askmeip.com/2012/09/first-action-non-final-rejections/
http://piersonpatentlaw.com/what-are-the-differences-between-a-non-final-and-a-final-office-action/
https://en.wikipedia.org/wiki/Office_action
Warm Regards,
Chad Sykes
It doesn't cost anything and it drives more traffic than other options.
We have six full time employees. Our MDA explains our burn rate. Have you bothered reading our MDA?
They are called exhibits. You do know how to look up exhibits right?
http://www.sec.gov/Archives/edgar/data/1572565/000155724014000318/ex-10_3.htm
http://www.sec.gov/Archives/edgar/data/1572565/000155724014000318/ex-10_4.htm
http://www.sec.gov/Archives/edgar/data/1572565/000155724014000318/ex-10_5.htm
http://www.sec.gov/Archives/edgar/data/1572565/000155724014000318/ex-10_6.htm
http://www.sec.gov/Archives/edgar/data/1572565/000155724014000318/ex-10_7.htm
Going public wasn't cheap.
Between auditors, attorney's, transfer agents, Edgar Agents, DTC fees, listing fees etc.. it adds up. Also when the SEC comments you to death for 10 straight months, that also adds up.
At the end of the day, we've built our entire business on an amount of capital most OTC's spend just hiring a consultant to go public.
Maybe you're just not aware of the costs of being public?
Integral,
Try posting our MD&A, R&D and business plan etc..
Not really sure why you're focusing on our equity raises without tying that to the underlying business operations.
Integral,
You still don't grasp the concept of market position and intellectual property do you?
Read about our recent results from our Tweed pilot, or the subsides we have received from the City of Pasadena.
I'm beginning to wonder if you even understand what it means to be an investor.
It's called good management. Maybe you should read our filings in more detail.
Because people read them? I thought it would be obvious.
I wouldn't be posting here if it wasn't driving traffic. PR's don't reach an audience not already following a ticker.
I do lurk and sometimes post.
Feel Free to ask any questions. I'll answer them to the best of my ability within the frame work of Reg FD.
Be sure to follow us on Twitter and Facebook. Our website is http://www.indoorharvest.com
Warm Regards,
Chad Sykes
CEO, Indoor Harvest Corp.
This is a due diligence board. Try doing some of it.
Is your caps lock key stuck? Just curious.
Read the comments. There's also another SeekingAlpha article written by a CFA, but you didn't bother posting that one.
TenKay,
CEO's of fortune 500 companies post on Twitter and Facebook. They even write op-ed's. How exactly is that any different?
This is a form of social media. It's simply a communication tool.
Content is what matters. As you will notice, I'm not pumping, but defending. Trying to be a legitimate company in the OTC is a constant struggle when some immediately take an opinion without knowlege.
While IR for SIAF, I did the best I could to squash rumors and misinformation. It was found being active on public forums helped stop these rumors and misinformation from spreading. After all, OTC investors can be very herd like.
If left unchecked, rumors and misinformation can have a detrimental impact on a Company in the OTC.
A CEO should look out for his shareholders. This is especially true in the OTC. For example the hit piece below was written about our Company and both myself, shareholders and a representative from the City of Pasadena responded.
Unfortunately, the article did impact our stock and we've never truly recovered.
http://seekingalpha.com/article/3096296-dont-buy-indoor-harvest-corp-this-weeks-most-promoted-penny-stock