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Nope. The latest press release said that they have received all approvals from the City of Coalinga but expect permits during Q2. Construction to begin Q3 and C of O during Q1 2022.
Don't be surprised however if Mike doesn't strike a deal with an existing facility during that time frame and expand beyond Coalinga.
Agreed, dob. Unfortunately the sector tends to follow the big, household names and virtually every one of those big names has been hemorrhaging money for years. When the big-boys get a downgrade, the entire sector tends to fall out of favor.
As for me, I tend to keep my eye on the ball and not get distracted by all the dust thrown in the air by the bad-apples.
Bottom line is that NGW is hugely profitable, they have a clear business plan with measurable milestones for growth and they operate in the most lucrative State in the country.
I suspect we will have another February very soon.
Cannabis stocks getting killed due to Aphria results. They just reported a loss of $0.91 / share for the quarter. Unfair for sure, but on the other hand, it's about time all these losers are held accountable for their lack of profits.
By contrast, NXGWF should announce tremendous results very soon.
Aurora (ACB) DOWN 10% Today
Canopy Growth (CGC) DOWN 5% Today
NXGWF DOWN about 1%
Not too painful given the market conditions today.
The problem causing the backlog in licensing is with the State, not the growers.
Harvard Study Finds Relief From Chronic Pain With Cannabis
https://www.painnewsnetwork.org/stories/2021/4/10/harvard-study-finds-cannabis-effective-treatment-for-chronic-pain
If you are referring to the requirement that you confirm your age, it is mandated by State law. Every cannabis company has a similar "obstacle".
Personally, I love the home page. I find it very refreshing. It was a brilliant marketing move to remake the company image into one which is devoid of misfits and malcontents. If the cannabis sector truly desires to become mainstream, then they need to market themselves as such.
Oh by the way.........EVERY license issued by EVERY State is for a finite period. Just look at your State issued driver’s license. It too has an expiration date.
The company’s City issued business license also expires and must be renewed every single year. Are you expecting a press release on that renewal too?
Every Cannabis license is ‘temporary’.
But I’m sure the management has completely forgotten that it must be renewed and will probably have to shut down completely come June.
Lame, Clone. Come up with something better.
To my knowledge, the company hasn't formally announced the date earnings will be released, but I could be wrong.
Limit order in again today. It never hit yesterday but I'm always on the prowl.
Yup............it does all add up DD. Enough shares make a nice pile. Congrats on the add. My limit order hasn't hit today. It's come close but no hit yet.
Yeah...........a growing company in a growing sector, in the largest market place in the country who is insanely profitable is going to lose 90% in one day.
Of course they will.
Amen Nosnibor. Well said.
My returns have eclipsed any investment I have ever held............and I’ve been investing for many decades. Yup, I’ve had losers. Anyone who says they haven’t is lying through their teeth. I’ve had winners as well. But without question, the returns I am enjoying here with NGW have erased every loss I’ve ever experienced and heaped piles of cash on top. And as Mike always says, “And this is just the beginning.”
While we are mostly focused on the commencement of Facility B in Coalinga, we can never discount the potential of acquiring existing space in other places outside Coalinga to expand the brand and to increase market share.
We all live in the here and now but we should all invest for the tomorrow’s, next year and beyond. Because whether we’ve planned for those tomorrow’s or not, they will come. Those of us with vision have placed our investments into companies which will make those tomorrows very comfortable.
What's my excuse, Clone? Excuse for what? I'm up $48,000.00 today alone. How are you doing today?
It occurred to me this weekend that perhaps the City Council doesn't need to take any further action on the expansion.........especially if they have already given prior approval. If so, it would then only require Planning Commission approval of the CUP (Conditional Use Permit). They made that approval public on the 23rd or March. That could be why there was no mention on the published City Council Meeting Minutes.
Time will tell.
BTW, it looks like Mike exercised options on 700,000 shares on the 1st. Shout-out to Nam (ECD) for explaining that to me.
Link? I can’t find any mention of the City Council taking any action on the proposed expansion. Planning Commission, yes. City Council, no.
Link?
I see absolutely no relevance between the links provided which articulate the well documented and wide spread fraud which has been prevalent in the cannabis sector and the impeccable, transparent business dealings of Next Green Wave.
* Next Green Wave has astonishing profit margins.
* Next Green Wave has a flawless business plan and is executing that plan.
* Next Green Wave has assembled a top of the line Board of Directors.
* Next Green Wave has been transparent in all their dealings.
* Next Green Wave has products which are the envy of every company in the sector.
* Next Green Wave is engaged in a controlled, well thought-out and carefully managed growth strategy.
* Next Green Wave is developing secondary income streams.
* Next Green Wave has very little debt.
* Next Green Wave does not resort to dilution in order to fund ongoing operations.
So many more examples I could cite.
See you above a dollar. Live with it.
Hey there Craig. Nice to hear from you.
Yup, City Council is supposed to vote on the expansion tonight. I expect that construction will commence shortly.
Patiently waiting for the next catalyst which will propel us upward above $1.00.
Any news of substance which attracts renewed interest should easily accomplish that.
Patience Grasshopper. Patience.
Harris doesn't need to sign anything............but Biden will sign whatever he's told to sign.
N.Y. State Legalizes Recreational Marijuana
https://www.msn.com/en-us/news/us/new-york-state-legalizes-recreational-marijuana/ar-BB1fa9Rd?li=BBnb7Kz
Spot-on, Harpo. There are just too many good things happening in the sector as a whole and within NGW in particular to keep this trading at the current levels.
Generally, any growth company has been lavished with generous premiums by the investing public. The same can be said for profitable companies. But when a growth company which is also profitable is encountered...........well...........it's sort of like finding a Unicorn. Very rare indeed.
It's only a matter of time that we are North of a buck USD. These prices won't ever be seen again.
My limit order is in. A bit up and down today so I'm not sure it will hit. May need to adjust as the day unfolds.
Could it be under #2: Changes to the agenda? Strange that it's not listed however.
Last day of Q1 today.
City Council vote on expansion facility tomorrow.
If I were Mike, which I'm not, I would make two separate press releases. First I'd offer preliminary 1st quarter results tomorrow morning. Then tomorrow, I'd issue a 2nd which announces City Council approval along with a time frame for start of construction.
Just my two cents.
I don't know Bridget. You tell me.
* A year from now, revenues will be three times what they are now.
* A year from now, they may very well be planning the next facility.
* A year from now, Cannabis may be legalized on a federal level.
* A year from now, SAFE Banking will have passed.
* A year from now, the company will have posted 24 consecutive months of profitability.
* A year from now, we will probably be on a much better exchange.
So you tell me. When all this happens, do YOU see us still being traded at under a buck?
I almost added today too but never pulled the trigger. If we see another retreat, I may add tomorrow.
Brick by brick, right Nam?
Trading at the HOD as we approach the close. Nice to see some backbone.
I sometimes wonder if the market grasps the significance of NGW's expansion.
Anytime a company embarks on a well thought out, carefully executed and proven method of expansion, it is great news. And when that expansion will enable the company to triple production within a one year period........and all without dilution, it is incredible news.
The company is already insanely profitable. The expansion, which is to begin construction very shortly, will multiply (not add to but multiply) those profits by a factor of at least three. And no new shares will be issued in order to fund that expansion.
That is why I am adding. That is why all shrewd and patient investors are adding.
It'll come back, Pete. The Cannabis sector as a whole, has wild swings up and down. But you can't ignore the stellar fundamentals of this company for long. So few in this sector ever turn a profit. But the well-oiled machine which is NGW is insanely profitable.
We will soon make the next run to $1.00 and beyond.
Filled at $0.641
I might put up another limit order at these prices.
One week away from City Council vote on approval of the expansion facility and the end of Q1.
Big things coming in April I supct.
Looking to add today.
"May the Forest be with you" I like that, Irish.
When I toured the grow rooms in Coalinga, all I could liken it to was a "forest" of Cannabis. Every room, from wall to wall, was crammed full of various strains, at different stages of maturity. The fans whirred and caused the tops to sway slightly, just like the wind will do in the pines.
May the Forest be with us all.
Yup..................but this pull back has me in a buying mood again.
Pouring at Reedley High School again tomorrow so I'll enter a GTC Limit order right now.
Don't forget gang.........Profit is King. Growth is a close second. We got-em both in spades.
Another thing I just noticed is that in the North/East corner of the building, there is a room labeled "Vehicle Access and Storage".
Security is of paramount importance for any company which produces, and must subsequently transport, and valuable product. This room I suspect is to act as a Sally-port where vehicles can be brought into a secure area, the doors closed behind them and the building secured completely, before product is brought into that room. It can then be loaded onto the transport vehicles and once secured within the vehicle, the doors will once again be rolled up and the vehicle can exit. At no time during the process will product be unsecured.
Big thumbs up.
Harpo:
Just looked at the info provided. Here are my first-blush observations.
The structure is indeed 36' tall at the West side of the building only. From there, the roof height slopes down toward the opposing side, on the East side of the building, creating what is known as a shed roof. The East side is 26'-5" in height.
From the table provided in the documents, there is only 12,281 s.f. on the second floor. The ground floor is 50,000 s.f. and with the second floor, it will total 62,281 s.f.
FWIW, whenever possible, multi story structures offer a much more cost effective structure than single story buildings. I suspect that the 2nd floor will house the office space (6,962 s.f.) which accounts for more than half the square footage on the 2nd level.
Tomorrow's Planning Commission Meeting is just a formality. From the opening statement in the CUP application.
"Staff recommends that the Planning Commission adopt Resolution No. 021P-003 with conditions for the development of a new commercial cannabis facility to be located at 1921 Mercantile Lane."
Next stop: City Council meeting on 04/01/21
That's pretty close to my guess, Irish. I called for $0.50 by 12/31/20. I was off by exactly ten days. Now I've been calling for $2.00 by 12/31/21, but I might be low in that projection. We will see. We can't forget that after the new facility is completed, it will take months before increased harvests are realized, dried and brought to market. So the increased sales won't hit the bottom line till probably Q2 of 2022.
Irish:
If today's valuation were accurate, (which I don't believe it is) and if that same multiple were to be applied to NGW's stock in early 2022, then sales will be three times what it is today. So, if we were to assume that today's PPS is fairly valued at $0.74, multiply that by 3 and you'd get $2.22 / share.
The new facility will triple capacity. I would guess that $2.00 / share is a minimum by 12/31/21
What? A politician that lied or mislead? How long has this been happening?
I never knew.
Sarcasm off.