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The gelcap or tablet is pretty exciting ...that would be a gamechanger for sure. I could see that patent being valuable enough to attract some big pharmas to bid on it.
Well based on 400 million dilution took 5-6 weeks to execute and dropped the PPS by approx. 60%...to place 8BN more shares will take 20X the time or approx. 2.5years+...somehow that timeline doesn't make sense to me given what they've announced as their expansion plans with Budcars. Either they are going to deliver some results by the next 10K or they won't have enough of a market for those 8BN extras shares going forward
Does the fact that this stock refuses to break below 2s tell us anything?
I would have thought that flatlining around the 2s for sometime now would have had to end at some point ...either up or down. Or does this imply some level of manipulation is going on?
I have to question if such a bounce is likely ( with patent approval) or even possible, why wouldn't speculation drive the stock price to at least $.10 by now. After all, we're now 60 days from filing..and much closer in theory to a decision by FDA..speculators should already be outnumbering shorts at this point
The 400 million dilution worth about $1.5MM+ should have been used to secure that extra 30% if $500K is all it took and Budcars is growing like they say it is.
Buybacks would be something that should be done if they have invested to secure Budcars revenue as their own for the next 12 months. Otherwise, all their investments should go to doing this first.
YEah...one would think. I just hope the good news has the effect we all think it will have.
They need to announce and execute a min 51% share of Budcars to enable the revenues to flow to the SGMD financials before the 10K
They should have bought out Budcars already if they raised $1.5MM from dilution. That should have been announced along with the LA Hub news and the stock would have likely rebounded. I don't trust this CEO
Believe it when I see it.
A reverse split would be another slap in the face of investors
If they need to get the stock price up, they should deliver on their promises and/or buy back (drive price up) for some of the disastrous dilution they've done over the last few weeks. After all on June 26, Chan communicated that dilutions would likely be offered substantially above market price to reflect future prospects of the company...obviously didn't happen
PRs are nice but the only way to prove this business is legit is to deliver the revenues (and later profits) they've been projecting now for awhile. Don't know exactly how that will be done if SGMD only owns 40% of Budcars which is not yet making any money at this point. With the 400million share dilution they did in the last 4-5 weeks they should have been able to invest the funds to get a majority share of Budcars (option to own 30% more) and be ready to report consolidated results.
They communicated starting two La locations. However they should have already bought out 30% budcar option so they can recognize the revenues they mention in PR's
Share selling scam unfortunately.
Should never retract this far..sorry. Not if you believe the IP here is valuable and this stock is headed for dollar land.
I still think most people trading this thing are just flippers with very few playing this long ..so that means most don't believe the IP is that valuable
Should never retract this far..sorry. Not if you believe the IP here is valuable and this stock is headed for dollar land.
I still think most people trading this thing are just flippers with very few playing this long ..so that means most don't believe the IP is that valuable
News or not...this stock if legit should not be this low. It was .063 last Friday and plummeted to $.03 now...50% plus drop. What stock with valuable IP drops like that?? If FDA approval is just a matter of time..the stock should not be shorted like this...there should be plenty of folks that want in at well above these levels. I'm still thinking that most traders don't believe in the IP here otherwise why would anyone take the chance and sell at these levels?
That's another thing. How come an independently valued company of $1BN is selling for peanuts here...something doesn't make sense
A stock with a LIKELY pending FDA approval for COVID-19 should never fall this far...there must be an expectation that the approval will not happen
Super low volumes and still not breaking the 3s today. Pretty pathetic
Supply chain from China is not so unexpected.
However, that funding should go to investing in Budcars I would think (like opening up LA Hubs)
400 million dilution X .004 avg PPS (let's say) over the last few weeks = $1.6MM collected in funding...where's the money going to, Jimmy?
The dilution is not news. That's why the stock dropped more than 60% during that time. What is news is the buyback...not sure where that is coming from.
End of July and this stock still in the 2s ...how disappointing
It was real a week ago too. And the stock blew up on friday and the a lot of folks decided to bail after that. So expect something similar to happen even when the news comes. Foolish to play the long game with subpenny stocks. Only skilled flippers usually win on these type of stock
Should be priority one to gain a controlling interest if that triggers rev rec on bus cars. Otherwise all the growth he has been reporting will no appear in the 10k.
Yeah...I'll be gone. LOL
1-14 weeks more...that's quite a range.
If you believe they can execute on their strategy, Budcars + Sugarmade will have a vertically integrated supply chain from production to the home. It's not like other delivery companies that may only do the last mile delivery (which is not too profitable). BIG IF.
Which they used some of that depth and experience to help out shareholders and keep our PPS from tanking like it did.
And if we don't...will you come back and tell us why...or just shovel more of the same in the room
No matter how much you add...you wont' increase your % owned if Jimmy continues to fire up his printer
Well at least we didn't lose ground today.
That's a win for this stock
I never spam garbage...This stock has been garbage for the past 4-5 weeks.
I am simply reacting to the changing conditions accordingly.
If you want to talk garbage...how about all the posters continuously pushing this stock as it was dropping over the last weeks with the same tired bromides.
Need to buyout 30% option on Budcars asap to enable them to report the revenues for Budcars. I assume that's why we've been diluted all these past few weeks...to fund this and other expansion plans
How long are those PPE POs going to remain open before they are cancelled.
They need to fill them ASAP
Ok I'll second that....$.0031 by COB today
Unless you can flat out lie on an 8K and not be held accountable...then yes..this is better news
Still looking for the low hanging fruit?? LOL
You may still get it if Jimmy's trigger finger get's itchy on dilution
ahh...but we can always count on Jimmy to dump us out of a run
Not breaking the 3s yet.