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You’re just proving my point. One thing is accepted as fact with no proof, and the other is quickly dismissed with no research. They’re hiding something by not filing for nearly a year, they’re hiding the ownership change that occurred in October and they’re hiding the ownership of VBF. Don’t you think that’s strange? Isn’t it stranger that they don’t know what Sunset Island is, their supposed parent company, or who Valerie is? If they were up to date on their filings it would be no big deal, but even longs haven’t received an email response in months, and we know they read the board based on the Instagram response.
I don’t know what this means: “Me thinks you are lieing, while you can”
Lying? Can?
“Forward looking” isn’t a safe harbor for making things up. Are two 8k’s saying we’ll update you on yield forward looking if they never tell us the yield?
I’m also curious about the Co2 extractor, that was supposed to be really expensive, $250,000 iirc, if they had that thing it would be on instagram.
You have no proof lol, that’s my point. It’s just “bs” with zero research. But when SIGO says they’re going to make edibles, clones, prerolls, 152,000 sq ft expansion, or a merger with VBF, with zero proof, it’s 100% believable. Funny.
But all of the 8k’s that were lies are believable? Ha. Twice this year they’ve said they’ll release yield numbers, nope didn’t happen. Did they actually tell anyone they lost 2/3 of their grow space, nope didn’t happen. Will they go an entire year without a 10K, they’re cutting it close?
Here’s an old quote that’s commonly attributed to Mark Twain, even though there’s no evidence he said it: “It’s easier to fool people than to convince them that they have been fooled.”’
Proof SIGO owns VBF? Maybe that’s why the 10k hasn’t been filed?
You mean VBF grow, we’re still waiting for a shred of proof the two are connected. Why would they hide that?
That is complete nonsense. If someone asks for Valerie and they don’t know who she’s is that’s strange. Not one licensed grower has been busted by the feds either. Maybe he should have asked for Lighthouse Botanicals, they’re the ones that hold the lease.
That’s the pic they posted, and I’m positive the plants are going to be a similar size, if they had posted the whole bay I would have posted it, not that it would compare anyway. The yield of Black jack is similar to other sativa’s it’s not that special.
They have more than ten times the licensed grow space, making them one of the largest license holders in Monterey, not many legally surpass this. With a cost of $1 per gram, their margins are between 200-300%. Nobody with lights is anywhere near that, and I don’t care if they’re LED, their costs aren’t that low. Its clear things have gone downhill since he left. When the big players start buying up Cali grows their not going to waste their time with a 5,000 sq footer, they need massive scale to make money.
Best trade on this stock the last six months has been shorting it, too pricey though, less than 10k shares are short as of 7/31. The whole sector is on fire now, SIGOs in ashes.
They heard you, but as usual more questions. In the post they say this: “vbfbrandsBay 4. County inspected the facility last week as part of the state licensing process.”
You can see the buds, we don’t know when they flipped it to flower, but it should be ready soon based on the previous pics from June.
https://www.instagram.com/p/BnEc3WQlu9G/
Last pic of bay 4 was June 11th, when they were raising the plants off the floor and installing drip trays.
https://www.instagram.com/p/Bj5GZa9lEBq/?hl=en
It had been sitting around for at least 6 days of “transplanting,” while nothing happened.
https://www.instagram.com/p/BjsNCoTli4x/
Not a word about the cultivation license going from 15k sq ft to 5k snd they’ve only shown two bays.
Good eye, you have to go back a couple of months to see any pics of the other bays. Bay 2 was just 10 days behind bay 1, so it should be dry by now and replanted, and not one pic.
Bay 2 https://www.instagram.com/p/BkeB0d4lehs/?hl=en
Bay 1 https://www.instagram.com/p/BldZecuF0KD/?hl=en
Bay 1 June 8 https://www.instagram.com/p/BjxDivsFR2p/?hl=en
The stock is down over 85% from the high, and the grow space went from 15k sq ft, to 5,000 sq ft, a loss of nearly 67%.
Who said? Their own Instagram is the one that said that.
Exactly how is the name “Sunset Island” technobabble?
I think a lot of people care about the how-to’s per VBF, that’s why the stock is getting crushed, that and the lack of filings ruined this company. No updates from Valerie though, no explanation for the 67% decrease in grow space, no yield update for the entire year, etc, etc. Looks like Tj made the right move.
Has any company ever paid Fife back in cash?
There is zero proof that Sunset Island owns VBF, that’s the real issue. If the security guard hasn’t even heard of Sunset Island, that’s very strange, considering he should work for Sunset if they really are a wholly owned subsidiary. If they ever get around to filing we will find out what really happened when Tj sold most of his shares back in October, and the so-called merger of VBF.
On a lighter note, week 2 of TJ’s interview is on YouTube, starts at the 8 minute mark and lasts about 8 minutes. Check out Tj’s face when the interviewer points out they don’t need to raise funding, right before the 16 minute mark. This is what a real grow looks like, fully licensed and huge, in the first video Tj claims their costs are right around $1 per gram, leaving plenty of room for profit.
If you ask for ”Sunset Island,” they say they’ve never heard of it, I’m sure that’s a good sign.
https://www.instagram.com/p/BnCKw4LF0aa/?hl=en
Whatever’s happening at that property very likely has nothing to do with SIGO, if it does, it benefits them in an ancillary way, like the guard shack. Two thirds of their grow space disappears and they say nothing, but they keep posting pictures, tells you all you need to know. SIGO went from near daily 8k’s about things they were “thinking about doing,” to no communication at all, even when they’re legally required to. Based on the number of 8k’s that weren’t true, I’d say that they weren’t doing any work that needed permits.
There’s no excuse not to release the yield numbers, if they’re really complying with the state regulations they have to weigh after cutting, after trimming and after drying, and they need to do state compliant testing, not the R&d tests they keep posting.
I talked to the county a few months back about the permits, the permits you saw in 2017 were for some electrical upgrades to a non growing building. When the owner went to the county to pull the permit, they found out the building wasn’t permitted in the first place. So they needed to get that permitted and then they could move forward, and it appears that’s what has happened. While I was on the Monterey county site I looked into their cannabis regulations, if you weren’t growing in 2017 in Monterey county, you can’t get licensed now, and no buildings built after 2016 can qualify either, that may change of course. The most important part of all this, is that Lighthouse Botanicals is the leaseholder for most, if not all, of the property, all of these upgrades could be for their benefit.
It was my understanding the true up provisions were to compensate Fife for the difference in share price from the time they converted the shares, to the time they actually sell the shares. So to answer your question, yes.
I think you’re right about the news, if not an annual, a temporary license will help (although yesterday’s news did nothing), or even some news about the dried weight would help. Whenever Fife needs to sell shares he makes it happen one way or another, even if he sells at the bid he will more than double his money, so anything above that is just gravy. I’m sure there will be a day soon where we’re wondering where all this volume came from for no particular reason.
Fife and/or his friends create the pump, they’ll likely get some help from Wade too.
No it’s mostly Black Dominia, crossed with a Jack Herer strain.
https://www.wikileaf.com/strain/black-jack/
Those tests aren’t compliant with the July 1st regs. R&D tests are for internal use only, to be able to sell your weed you need to do a “Compliance Test.” Not sure why they’re not paying for the test they need to actually sell, it’s not much more.
SC Labs does 3 types of testing, Compliance, R&d, and homogeneity.
https://www.sclabs.com/order-testing/
Compared to the last test they did it’s down considerably from the 27% THC the Banana OG tested at last year, CBD’s went from .06% to 0%, mj with zero cbd’s is surprising.
https://www.sec.gov/Archives/edgar/data/1689066/000147793217004423/sun_8k.htm
Hopefully they post more results soon, guessing there’s at least 2 other strains from the previous Instagram pic, and if you look in the upper right corner of today’s test, you’ll see it is page 1 of 3, but only one was uploaded. Now that they’ve tested it they should have some dry weights released, no excuses.
Looks like VBF got their test results back, thc levels look good. There’s a slight problem though, these are r&d test results, they’re only used by the company internaly, they do not qualify for sales to a distributor or the public.
Here’s a quote from EVIO Labs cofounder, Lori Glauser:
“We do have a lot of clients that are doing information or R&D testing, just to make sure their product is clean before they start going into compliance tests, and we are seeing a few failures right now, but they are quickly working to adjust their processes and to ensure that they’re growing clean prior to going in and doing the compliance tests,”
http://www.cannabisbusinesstimes.com/article/california-additional-testing-regulations-july-1/
I laughed when he said that. When VBF was organic the weed tested positive for a lot of mold and fecal colliforms, and it looked terrible. But I don’t remember him being the master grower then, and his LinkedIn title now at Sur Farms is COO, so who knows what the truth is. From the info I gathered about Sur Farms, the other people involved have been growing weed for a long time, and from the looks of the video it shows, how much TJ has to do with their success is debatable though.
Also that salary figure seems a little low, in Southern California I’ve found it to be closer to $120k per year for a 25k sq foot warehouse. The amount SIGO was paying (to REI for some reason) for such a small operation was at least double what most master growers were being paid. Now that he’s growing in just 5k sq feet must be a huge hit to his salary.
Based on the interview TJ did for his current employer that Slumdog posted, it looks like he’s done more for Sur Farms in 4 months, than he did for SIGO in 18 months. Sur has nearly 5 acres of greenhouse, all licensed. The video is pretty interesting, and supposedly it’s all organic, just like SIGO said they were going to be. In one area they’re trying something different, instead of doing individual pots they’ve built large grow boxes filled with soil mix, and all of the plants share the space. TJ talks about how important it is for the soil biome to contribute to better roots, and therefore better weed. They had some plants close to harvest, and the nugs were really nice looking. Someday we’ll find out who he sold his preferred shares to, and why, but for now it looks like his new grow is doing well, while VBF is licensed for less space than Sur uses for walkways.
Hopefully they explain what they mean by being compliant with track and trace. Since they don’t have an annual license, they don’t get online access to METRC, they have to do everything on paper, and no rfid’s, barcodes or ID numbers. Anyone notice the date, it’s from February?
Page 2 #3
https://static.cdfa.ca.gov/MCCP/document/CalCannabis%20Track-and-Trace%20FAQ_1.29.18.pdf
He would only short to drive the price down, lowering his conversion price and most likely covering on the open market, that’s what I’ve seen in the past. I didn’t see any language in the note that says he will be doing that, I could be wrong, and a lot of the note is missing. I’ve seen it in other stocks with convertible debt, I believe HMNY, has a lender that does that, and DRYS did in the past, it crushes the company a lot quicker compared to a typical death spiral. That doesn’t mean he’s hasn’t done that with SIGO, but short interest has been low.
He should make out well on this deal, if SIGO doesn’t do what it takes to get him free trading shares, he can go to court and get a 3(a) exemption. Essentially if the judge rules in favor of Fife the shares will be free trading, and the note spells out the penalties, I believe the shares will convert at an 80% discount, plus Fife’s attorneys fees.
No they won’t, the 10K covers the period ending 10/31/2017.
Short covering ;)
Clones are supposed to be tagged with an RFID and a serial number right after cutting from the mother.
Hopefully track and trace is phased out for being a colossal waste of time and money. Could you imagine if we did this with corn? Tracking weed by weight seems far easier.
They need a nursery license to be able to sell clones, then they “sell” them to a distributor. I put sell in quotes because sometimes the distributor takes ownership and sometimes they don’t, it depends on how the contract is written.
Yet you provide no proof. They can’t afford to pay for filings, yet they have over $3 million dollars in cash. Uh huh, do your research.
Balloon note was due last week and no 8k, wonder what happened? Will Southwest foreclose, or will Notis sell more shares?
That’s a bad sign for anyone that hasn’t been granted an extension, including VBF.
According to the terms of the note the share count is what the most recent 10K or 10Q says.
“A27. “Market Capitalization” means a number equal to (a) the average VWAP of the Common Stock for the immediately preceding fifteen (15) Trading Days, multiplied by (b) the aggregate number of outstanding shares of Common Stock as reported on Borrower’s most recently filed Form 10-Q or Form 10-K.”
https://www.sec.gov/Archives/edgar/data/1689066/000147793218000962/sigo_ex102.htm
Two balloon payments are due August 1st. The first one should be slightly under $3 million, and the second a little over $650,000, that’s assuming there were no late payments or penalties, it’s been a while but I believe two of these guys ended up suing Notis at one point. There were also bonuses paid to the lender if certain revenue goals were met, but we have no idea if that ever occurred, the first goal was based on $10,000,000 in revenue, very unlikely that happened.
The first loan is secured by the farm, so if they don’t pay, they’ll be foreclosed on.
From the 10Q 10/21/2016:
“In connection with EWSD’s purchase of the Acquired Property, EWSD entered into a secured promissory note (the “Note”) with Southwest in the principal amount of $3,670,000 (Note 8). Interest on the outstanding principal balance of the Note shall accrue at the rate of five percent per annum. The Note shall be payable by EWSD in thirty-five payments of principal and interest, which shall be calculated based upon an amortization period of thirty years, commencing on September 1, 2015 and continuing thereafter on the first day of each calendar month through and including July 1, 2018; and one final balloon payment of all unpaid principal and accrued but unpaid interest on August 1, 2018. The Note is secured by a deed of trust, security agreement, assignment of rents and financing statement encumbering the Acquired Property.
EWSD also entered into an unsecured promissory note (the “Unsecured Note”) in the principal amount of $830,000 with the Seller (Note 8), in respect of payments previously made by Seller to Southwest in connection with acquiring the Farm. Interest on the outstanding principal balance of the Unsecured Note shall accrue at the rate of six percent per annum. The Unsecured Note shall be payable by EWSD in thirty-five payments of principal and interest, which shall be calculated based upon an amortization period of thirty years, commencing on September 1, 2015 and continuing thereafter on the first day of each calendar month through and including July 1, 2018; and one final balloon payment of all unpaid principal and accrued but unpaid interest on August 1, 2018.”
https://www.sec.gov/Archives/edgar/data/1547996/000161577416007714/s104312_10q.htm
I guess it would depend on how the contract is written, since they left out those important details it’s tough to say. SIGO most likely owns Battle Mountain, which holds one of the sub leases, so that’s worth something. VBF may not be a part of SIGO, and therefore not part of the securities purchase agreement, but only Wade, Valerie, and Fife would know unfortunately.
Not only are the warrant terms missing, this note was secured by assets, what assets, ALL OF THEM. Exhibit F was never attached to the filing.
“1.4. Collateral for the Note. The Note shall be secured by the collateral set forth in that certain Security Agreement attached hereto as Exhibit F listing all of Company’s assets as security for Company’s obligations under the Transaction Documents as security for Company’s obligations under the Transaction Documents (the “Security Agreement”).”
https://www.sec.gov/Archives/edgar/data/1689066/000147793218000962/sigo_ex101.htm
“Security. This Note is secured by that certain Security Agreement of even date herewith, as the same may be amended from time to time (the “Security Agreement”), executed by Borrower in favor of Lender encumbering all of Borrower’s assets, as more specifically set forth in the Security Agreement, all the terms and conditions of which are hereby incorporated into and made a part of this Note.“
https://www.sec.gov/Archives/edgar/data/1689066/000147793218000962/sigo_ex102.htm