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I LOVE how the GRCK execs are a) using their diverse skills to create a new product that meets an actual demand, b) releasing this news during the MJBizExpo, and c) utilizing their unique selling proposition of practitioner channels to back the quality aspect. Patrick Stiles knows exactly what he is doing: "This is like the Amazon of the CBD and hemp-related products."
The dip is just normal reaction to OTC news. "Sell if it doesn't spike immediately." They will regret letting go of the cheap shares really shortly.
Same here. I would love to see GRCK test .60 in the spring, as that's a former important level in company history. It's a COMPLETELY different company now, so it's hard to say if it will do that.
Looks like VNDM is moving to eat up smaller lots. I think this means that they are close and just wanting to wrap up the dilution.
I think it's pretty funny when people on here say "Show me the revenues!" Let's look at the 2 companies' revenues that people are saying are the hot items in the space, MJNA and OWCP:
MJNA - https://www.otcmarkets.com/financialReportViewer?symbol=MJNA&id=177786 - They reported on their (unaudited) latest Q10 that they operated at a 2million dollar LOSS for a quarter, with a 79 million dollar accumulated LOSS. Sure they have 428 million in assets, but they are leaking money left and right, with only 724k left in the bank (had to spend 451k of their cash this past quarter). The interest on their debts is absolutely killing them! And I repeat that this is on UNAUDITED Q10 report in a pinky company.
OWCP - https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12318803 - No material revenues, period. Completely operates through financing.
With GRCK, we are looking at being debt-free in the short-term, with 125k in inventory to be sold by the end of the quarter. Those two facts alone put us ahead of both of the other companies with respect to revenue. The other companies have other things going for them, but I scoff at anyone thinking revenue is the key component to make GRCK rise in PPS. Scoff I say.
WDCO backed off of .01. This could indicate that they got the shares they were looking for.
Thanks for putting this together Thoth! I'm learning so much from you guys here. I only have the time capacity to stalk one stock at a time atm, so I appreciate you guys being here. It's almost serendipitous...
We also don't know if Eqova had a cash reserve they brought with the deal. They brought $125k in inventory with the deal, so I wouldn't be surprised if they have some cash.
There are those T-trades! OK, here's my theory on at least one of the T-trades: Near the end of the day, there was a 200-size trade at .0095 signaling that someone needs shares, but don't lower the price (https://investorshub.advfn.com/PennyRunners-9223/). Given how desperate WDCO has been getting to get shares near the end, I think that was him. Voila, T-trade.
If this is true, we should see VNDM and WDCO back off the ask tomorrow, and WDCO will start upping their bid. We'll see if this is accurate tomorrow!
WDCO moved his bid up to .0088 to eat that 125k ask at .0090! He knows something. Likely, he knows VNDM has only a few shares left to go.
We should get an updated, official Form 14A soon. I imagine we'll get further updates shortly after.
Next week should be really interesting! Eqova will be at MJBizCon, and I think Stiles is savvy enough to extend the awareness campaign to social media during the event. We should start seeing new investors coming in the near term, as well as a ramp in customer acquisition that we'll be reading about in the next few months.
To add to that, I wouldn't be surprised if 10-20% or more of the float is held by ihub members on this board, aka responsible hands with clarity backed by DD. Once VNDM and WDCO take the lid off, we're good to go.
With that last-minute 3 mil trade ($28k) and the 3 mil T-trade ($27k), that should pretty much wrap up the debt dilution I think. VNDM backed off almost immediately after the trade happened.
Awesome, thanks!
You are correct! About 2 weeks ago, @WolfOfWeedSt on twitter (33k pot investment followers) started asking about the GRCK debt, then deleted the tweets. He either got a response and decided to let it drop and load, or he didn’t get a response and moved on. I bet if a PR came out stating the debt was settled, he would start poking around again.
1 month from now, people will be looking at GRCK and saying "Wow, look at those lucky bastards who bought under .01!"
3-6 months from now, people will be looking at GRCK and saying "I could have retired if I loaded under .01!"
Thanks Thoth! It means a lot coming from you.
Agreed! It's funny that the dilution is driving this down, but a simple PR after-the-fact saying that they are debt-free with an awesome SS will make this thing run like bonkers.
Here we go guys! I sold my motorcycle and wired the funds this morning, so I was loading those 95s. I still have some steam left in case we get another dip, but i don't see that happening once we cross above .01!
That makes me very happy! They’re reading their emails and responding, even to stupid grammar corrections.
Patrick also posted part of my FB conversation with him to Twitter (with my permission). This CEO is awesome!
Nice! I've been running around all day. SS still lookin bueno!
I firmly believe we will get an update tomorrow or Thursday because of the OS footnotes in the 14A-PRE. They clearly indicate that they intend to show OS as of 11/8, which is tomorrow. This could be indicative of an expected slowing or stopping of the dilution. It also could be the very reason we're seeing WDCO and VNDM being so aggressive yesterday and today. Deadline is near for them.
That being said, should have my motorcycle sold this afternoon and wire the funds to take a piece of the action tomorrow.
One last thing, send Patrick an encouraging message on Facebook when you get a chance. It's nice to hear good things from your customers, especially when many are angry because they don't share the same vision as you.
It's very likely the uncertainty aspect that the market dislikes. There has been a lot of dilution since the LOI that has kept many investors away. There is a general mantra of dilution = bad, but it's not always bad. They are setting up a clean slate, a tabula rasa on the debt.
I've been doing a lot of research on the new CEO that most investors will not do, and this guy is the real deal. He made a power move in this deal, brought some of his friends in on the deal, and the company is not the same as it was 2 months ago. If you want more details, you'll need to do the research yourself, I'm not giving them away. Hint: Call the company, talk with people.
I'm hoping that takes a little while. I'm trying to sell my motorcycle to buy more shares. I wouldn't mind buying at this price, but another dip would make me happy as well. With that in mind, I'm fine with DrugDoctor spreading his garbage for now. :D
Talking about insiders, anyone else notice that the 5% stakeholders in the 14A are all located in CO near Eqova headquarters? They must have come on board with the new CEO Patrick Stiles. That tells you how much these guys believe in him and his ability to grow this business. Big things coming for GRCK!
Form 14PRE filed today: https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12360234.
The highlights:
- They are planning to vote on Dec 29 to increase the AS to 1 billion shares
- Reason for AS increase - "As a general matter, the Board of Directors does not believe the currently available number of unissued shares of Common Stock is an adequate number of shares to assure that there will be sufficient shares available for issuance in connection with possible future acquisitions, equity and equity-based financings, possible future awards under employee benefit plans, stock dividends, stock splits, and other corporate purposes."
- They are not showing any OS numbers yet
- They have noted that the blanked OS figures are as of Nov 8, so I'm thinking we'll get a follow-up update then
- Insiders and 5% stakeholders own around 168 million shares of common stock
- Interesting note - "There are no specific financing transactions under consideration at this time." Maybe that means dilution is over?
News definitely coming in the next few weeks. Check out this freelance attorney request for a written opinion of the legal compliance of the business: https://www.upwork.com/job/Attorney-Advice-Full-Spectrum-Hemp-Oil-Space_~01e31225dc0b39a0e9/. It was created on September 7 of this year and it was estimated at < 1 month, so I imagine it's near completion.
No room for swing traders here, definitely not enough volume or volatility to safely enter/exit within a few days. This is definitely a long-term trade, I'm holding onto my shares, and adding if it breaks below .0091. OW(P dropped to .003 before jumping to .02 a week later, then 3.23 5 months later. I don't think this will make it to 3, but I think it can spike pretty hard when the company starts getting traction and putting out 8-Ks. That's going to take some time, likely months.
Section 2.3 Standards for Continued Eligibility, point 2) Bid Price. Maintain proprietary priced quotations published by a Market Maker in OTC Link with
a minimum closing bid price of $0.01 per share on at least one of the prior thirty consecutive
calendar days;
You're correct, required closing bid above 0.01 for at least one out of 30 consecutive calendar days: https://www.otcmarkets.com/content/doc/otcqb/standards.pdf.
The bid price at the close has to be at .01. That’s the minimum QB requirement.
Either shorts or consider this: We've all seen WD(O as an active dilutor throughout the last month. Maybe part of their agreement with GRCK is to prevent the closing bid from being below .01 to keep QB status. Just a thought.
I've never seen VNDM put up an ask or bid with a non-minimal size. They have an ask at .0105 up right now for 17124. Anyone know if that means something (other than they have 17124 left)?
Haha, can you post in here more often?
In general, a lot of the scams out there would have petered out by this point in the process of an acquisition, such as the XTRN scam this summer. GRCK has followed through on everything they've said they would up to this point.
On top of that, there has been a lot of DD shared in this room if you scan through it over the past month. One of the stronger clues that was uncovered in this room was the numerous sales rep openings advertised on employment sites for Eqova (I can't find the post, but it was 3-4 weeks ago). Scams typically don't take it to that level of scamitude.
Oh PUMA, why you scurred? Getting a bit aggressive with the covering.
Agreed. It didn't touch the low, it hasn't closed below .01, and there are upcoming catalysts that will prove that these guys are serious. Anyone who does their DD will realize this dip is temporary.
Correct, but it's been consistent with the news releases so far. I haven't seen a 911 trade in the past month on this stock where there wasn't news in the next day.
WHOA! That 911 trade at the end of the day indicates incoming news. It's been fairly consistent for each of the news releases so far.