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Credit card to pay the $5 monthly fee was declined?
Same phone number as DMND 949-449-6046 is the same MOBILE number for VIP travel.
Cover your eyes if you don't want to see skin:
http://viptravel.agency/en/
Does Jorge get to feel dem fake t*tties as part of his package?
HAH. Why should I call to prove what I already know.
It's a UPS Store.
SUCKER!
Now you're just making SH*T up.
It's a freaking UPS store. No companies there.
JEEZ.
Nope. That address is specific to the UPS Store.
Any company listed with a SUITE is just a mailbox. Call the UPS store and ask them how much for a SUITE?
CHUMPS
Is dmndinc.net the correct web site for the acquired company?
Domain has private registration...could be owned by Eddie.
The company address listed on the dmdinc.net web site is a UPS Store.
2549 Eastbluff Drive, Suite 216 Newport Beach, CA 92660
More smoke and mirrors.
Recall that Looter (in addition to his underdcover ihub name DESERTFOX) had postings that used variants of his real name (Luke for one, different spellings of Jeffries for another.)
It was so borked that even Eddie's phony PRs couldn't consistently get the name correct.
Yeah, we know. Living in the past...Eddie and Looter both gone.
But the tricks continue.
Wow...lots of facts you have.
Suggest you change your username to Senator 714 since you know what federal laws will be changing.
TA TA, Senator.
Not arguing the fairness of the federal law. I happen to agree that this needs to be fixed.
But the fact remains that dispensaries are cash flow negative after taxes so CANNA and their ilk will need continued cash coming from somewhere in order to stay in business.
As for SUTI (I'll use the old name for now) and their relationship with CANNA, it doesn't matter anyway because everything here is smoke and mirrors.
Thanks for the article, though.
My pleasure. Just goes to show that you can have all the revenue in the world but that doesn't mean squat if your cash flow is negative.
A&P had 5.5 billion in revenue last year but they were bleeding cash like crazy and went belly up yesterday and the company is being sold off in pieces.
Don't care what CANNA's projected revenues are or even what they believe their net profit will be. Uncle Sam will make it tough to survive.
Some are "too smart" to accept that.
Uh...I usually don't respond to people who talk out of the a** but I'll make an exception here.
http://www.forbes.com/sites/robertwood/2015/07/13/big-court-defeat-for-marijuana-despite-record-tax-harvests/
http://www.usatoday.com/story/news/nation/2014/11/03/irs-limits-profits-marijuana-businesses/18165033/
For Woolhiser, whose sales have increased dramatically since he began selling recreational marijuana Jan. 1, the confusing nature of the code means he has no idea how much he will owe in taxes — just that it will be far more than what it might be if he was selling anything else.
"A lot of people think that the marijuana industry is just a license to print money," said Taylor West, deputy director of the National Cannabis Industry Association. "And it's just not the case."
West works for an association of more than 750 cannabis-related businesses across the United States, and says that 280E results in her clients paying more than 70% of their profits in taxes to the federal government.
Sometimes, the rates are far higher than that.
"A lot of times, instead of paying a tax rate that should be 30 to 40%, they are paying rates between 80 or 90%," Cornelius, the accountant, said. "I even have a client right now that is paying more than 100% effective tax rate."
"The problem is that we have passed laws that allowed these medical marijuana and recreational marijuana companies to do business," said Mac Clouse, a University of Denver finance professor who studies the industry. "But we have all these other laws, tax laws, federal laws that make it incredibly difficult if not utterly impossible to survive."
More states may legalize marijuana this year, but state laws don't change federal laws.
And barring any changes from Congress, new cannabis businesses in those states, along with the established shops in Colorado and Washington state, face a large, and possibly ruinous, tax bill come April 15.
Revenue has nothing to do with net.
Assuming you know federal tax law then you know that you can't deduct anything other than COGS.
You can revenue til the cows come home.
Bottom line is these outfits are cash flow negative.
I agree that the PRs stated that SUTI purchased 2% of CANNA. Presumably this is 2% ownership of the business.
What is not known:
What consideration was paid by SUTI in return for that 2% stake. Cash? SUTI stock? Promises by Eddie that he will mop up at night? None of this has been revealed.
As any small business person knows, even assuming that there is a profit (unlikely after the federal tax burden kicks in) then there are a million ways that the operating partners can manipulate the bottom line to show a bottom line of 0. Someone drew a parallel to a movie star accepting a percentage of the NET. There is never a NET.
If you don't know how that's done then ask any 8 year old that has operated a lemonade stand.
Jorge's resume is essentially non existent. He had two failed stores that sold crystals and potions.
Other than that we know he's not a very good dancer and nothing else.
Oh, wait, some people here say he's a good father. Could very well be.
Your dubious non-substantiated claims of profits aside, do a little research on the TAX SURPRISE that dispensaries got from their tax preparers this year.
It's not a profitable business...AFTER FEDERAL TAXES.
Between the federal taxes on this assumed revenue (IRS does NOT allow deduction of ordinary business expenses such as RENT, SALARIES, UTILITIES, INSURANCE, etc.) and the "consultant fees" drawn off by Eddie and the "miscellaneous expenses" incurred by Jorge this deal will be cash flow negative for SUTI. Canna will be begging Jorge for a cash infusion within 6 months.
Let's get those 3 million in liabilities spun off pronto so there is room for new liabilities.
My best guess: if Eddie ever does come up with financing and if Canna turns a profit (both unlikely) then Eddie will foreclose on his loans and will own the dispensary...lock, stock and Ukrainian barrel.
Uplifting indeed. As that "news" website states:
Eddie does business with Eddie companies all the time.
Immediately coming to mind:
* Super duper imaginary software that had been owned by PRPM and was sold to TDEY for some sort of compensation that I can't recall.
* HEMPSTER domains that were sold by Eddie personally to PRPM (or was it SUTI) for some sort of compensation that I can't recall.
* Imaginary financing from Eddie's venture capture firm to SUTI for some sort of compensation that I might be able to recall if it was disclosed to shareholders at any point (it was not).
More inter-Eddie transactions coming down the pike to be sure!
Eddie is Eddie's best customer, his best vendor and his best bankroller!
My money (sitting safely in my pocket) says that I am right and that you (with money sitting in Eddie's pocket...or, more accurately spent on wine and cheese) are wrong.
Exactly. It's like when people have a criminal record that they don't want others to know about. They change their name and then a google search of the new name comes up clean. Maybe shows charity work (homeless shelter or pet clinic) but nothing negative appears.
That's the plan here as well.
Please add to the FANTASY LIST the spin-off of the millions in SUTI liabilities. Eddie says that a magical entity will accept these debts leaving SUTI free from all obligations.
Reading is hard. The discussion was about the prior RS which took place in October of 2014.
Are you referring to the 1:100 reverse split that Eddie quietly pulled on this ticker on October 4, 2014?
Indeed the price spiked up. And then, the market opened.
There is a difference between HOPING that someone loses their money and stating that someone DESERVES to lose their money.
Milt and others are indeed trying to warn the gullible that your money ends up in Vakser's well lined pockets.
No one is stopping you from investing or speculating.
Some have to learn the hard way.
SUTI is about dreams, not details.
The SUTI CEO doesn't believe it important to provide critical information about the "deals" he has consummated.
SUTI followers don't believe that spelling is important except the SPELLING that causes delusion.
Have faith in your own choices, friend. You shouldn't worry about my affirmation or lack thereof.
Your artistic skills surpass your command of the English language.
"Once who stayed behind"
Oy.
KAM: On top of everything else, IRS regulations prohibit dispensaries from deducting expenses other than direct cost of goods sold (eg: what they pay for product).
Rent: Can't deduct
Salaries: Can't deduct
Utilities: Can't deduct
Insurance: Can't deduct
Company cars: Can't deduct
Dispensaries that were in business during 2014 got a nasty tax bill this year when they realized that the federal taxes were more than the profits!
SUTI paid who-knows-what for an operation that almost certainly will need ongoing cash infusions to stay in business.
DUMB DUMB DUMB!
Don't look too carefully or you will see the JAILBASE.COM watermark on the Eddie photo.
Best to increase the settings on your sarcasm detector.
No revenues, but lots of expenses for tickets to DA MOON!
Just don't look behind the SUTI curtain. You may not like what you see.
HA HA. Exactly what I'm asking for Smarty Pants. Facts.
Milt: How can you say that the CANNA deal isn't a positive?
The last time I went in to buy a car the salesman told me how happy I would be with new wheels. The car was really shiny and it had a radio that picked up lots of stations.
When the sales agreement was put in front of me I was asked to sign here, initial there. The monthly payment field was blank. I asked that the number be filled in before I signed but the salesman said that he would take care of it later. All would be revealed in due time. I walked out.
Do you think it possible that Jorge hasn't told SUTI shareholders the cost of the 2% share because the fields on the contract were left blank when he signed it?
Lots of hyperbole here. A few factual statements now and then shouldn't hurt anyone.
FINRA is NOT a government service. It is an industry regulator.
I hope the workaholic isn't ignoring the Eco-Vape business, his Kolbe business or his plant "babies."
Maybe Eddie will see the CANNA web site and offer to put his talented HEMPSTER software development team on the project.
In exchange for 22% of CANNA, of course.