Retired
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Wow, Nite put on his long "sleek" pants and the "Hase" cannot been seen...."MaxxM" benefits are coming and "HOnestLines" will be cut short........
NITE aka Moses just raised the bid and ask....... apparently its time to split the RED sea and let us get to higher ground.
I would think that Dominion has had plenty of time to re coup their 6 million by now.....in just the past two weeks over 16 million traded at a low of .22....
Inergetics, Inc. (the “Company”) received a Prepayment Event Notice (the Notice”) pursuant to two 12% Convertible Debentures in the original principal amounts of $511,146.18 and $1,003,129.45 issued, respectively, on May 21, 2014 and May 29, 2014 (the “Debentures”).
Pursuant to §1.9 of the Debentures, if the VWAP (as defined in the Debentures) of the Company’s Common Stock for any trading day is equal to or less than the “Floor Price” of $0.031 (a “Prepayment Event”), the Company shall be required to pay the Debenture Holder 140% of the entire outstanding principal amount of the Debentures, plus any accrued but unpaid interest no later than ten business days after the Prepayment Event (a “Mandatory Prepayment”). In the event the Mandatory Prepayment is not made timely, the Floor Price shall be removed.
As a result of the Notice, a total of $1,526,103 is due and payable by September 29, 2014. The Company does not believe that it will be able to pay that amount by September 29, 2014. If it is unable to timely pay such amount, there will be no Floor Price for conversions of the Debentures.
1
Signatures
Pursuant to the requirements of the Securities Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 22, 2014
INERGETICS, INC.
By: /s/ Michael C. James
Michael C. James
Chief Executive Officer and
Chief Financial Officer
2
Inergetics, Inc. (QB) (USOTC:NRTI)
Historical Stock Chart
1 Year : From Sep 2013 to Sep 2014
Click Here for more Inergetics, Inc. (QB) Charts.
Inergetics, Inc. (QB) (USOTC:NRTI)
Intraday Stock Chart
Today : Monday 22 September 2014
Click Here for more Inergetics, Inc. (QB) Charts.
Inergetics, Inc. (the "Company") received a Prepayment Event Notice (the Notice") pursuant to two 12% Convertible Debentures in the original principal amounts of $511,146.18 and $1,003,129.45 issued, respectively, on May 21, 2014 and May 29, 2014 (the "Debentures").
Pursuant to ?1.9 of the Debentures, if the VWAP (as defined in the Debentures) of the Company's Common Stock for any trading day is equal to or less than the "Floor Price" of $0.031 (a "Prepayment Event"), the Company shall be required to pay the Debenture Holder 140% of the entire outstanding principal amount of the Debentures, plus any accrued but unpaid interest no later than ten business days after the Prepayment Event (a "Mandatory Prepayment"). In the event the Mandatory Prepayment is not made timely, the Floor Price shall be removed.
As a result of the Notice, a total of $1,526,103 is due and payable by September 29, 2014. The Company does not believe that it will be able to pay that amount by September 29, 2014. If it is unable to timely pay such amount, there will be no Floor Price for conversions of the Debentures.
http://biz.yahoo.com/e/140922/nrti8-k.html
“Let the cultivators take the risk of having too much product out there
http://www.reviewjournal.com/news/pot-news/medical-pot-price-rise-feared-nevada
MOre I think about it... its great news... TRTC can now only spend 5.5 mllion in NEvada and if warranted build a cultivation building in another state like Washington. Shareholders should embrace the news...
Not really....... as long as TRTC scales back their plans.... I always thought two cultivation centers going up at once was a tad too much for a 50 % return......
This could definitely reduce the costs for patients and make one think twice before building TWO Cultivation buildings.
http://health.nv.gov/Agendas2014/MedicalMarijuana/2014-09-23_Agenda_Stakeholder.pdf
That is a material event...considering whatever revenue TRTC would generate is cut by 50% due to investors share....couple that with not enough patients to meet demand because cultivation out paces need....means reduced pricing due to competition.. etc...ugh
You did well... I am in at .38 and will exit at .38
" All the Rich investors I know got out too early ! "
Of the 25000 shareholders of TRTC there is a little over 800 followers here and of those about 25 post messages that are clearly bias one way or the other...AS far as helping an individual make decisons ref TRTC...the mere fact of trading a penny stock is illogical and as wise as buying a lotto ticket....but besides all those issues...this blog has little effect one way or the other, but it is entertaining...
I believe I saw similar financing with Dominion and Terra TEch back in 2013.......hopefully the share price movement of Jan 014 will occur again in the first week of Nov when Terra TEch receives a license or two..... Pure crap shoot...
As long as there are posters willing to point out severe negative issues or unrealistic gains....and volume stays at a million a day...there is reason to hold IMHO...... when volume stops..and the chat room ceases to chat....then its time to move on.... MIght as well change the name of the company to Domminion. I doubt they want to run the share price to zero....as they have millions at .125...Should be an interesting winter.....bundle up, hunker down and good luck to all..
The real puzzle is where do they get the 11 million needed to build the 2 cultivation production facilities.... if they get the licenses... They just got 6 million in exchange for 48 million shares...which is why the current share price had dropped....Some dramatic news is necessary in the form of a deep pocketed "Shark" like George Soros....to pull this off IMHO
I agree ,lets hope they corrected their margins cause their expenses outpaced their revenue by 100 grand..
Amazing revenue when you consider in some locations all they do is marketing and sales and receive a 10% to 15% commission. Obiviously the big money is in the NOrtheast where they actually grow their own product. Here is a copy of one of their filings that shows how they make revenue from edible gardens..
Pursuant to a letter agreement dated December 2, 2013 with Heartland Growers Inc. (“Heartland”), Heartland agreed to cultivate the full line of Edible Garden produce to be sold throughout the Midwestern United States. Pursuant to the terms of the agreement, Edible Garden will manage the marketing and sales, while Heartland will be responsible for the cultivation, packaging and shipping of the product for retail sale under the Edible Garden brand. The term of the agreement is one year.
Pursuant to a letter agreement dated May 7, 2013 with Gro-Rite Inc., a New Jersey corporation (“Gro-Rite”), Edible Garden has the right to purchase and distribute a majority of Gro-Rite’s plant products from Gro-Rite for marketing, sale and distribution. Under the agreement, Edible Garden will receive a sales commission of up to 10%.
On May 7, 2013, Edible Garden entered into a letter agreement with Naturally Beautiful Plant Products LLC, a New Jersey limited liability company ("NB Plants"), whereby Edible Garden has the right to purchase and distribute a majority of NB Plants' plant products. Under the agreement, Edible Garden will receive a sales commission of 10%.
40
Pursuant to a letter agreement dated May 25, 2013 with Palm Creek Produce, Inc. (“Palm Creek”), Edible Garden has the right to purchase and distribute a majority of the plant products grown at its facility. Palm Creek’s facility is capable of producing up to 10,000 units of product per week. Under the agreement, Edible Garden will receive a sales commission of 15%. The term of the agreement is one year.
Ok so there is a a good possibly that revenue for 2015 will begin in the summer, thus 50% ...... which means 30% as we have to share with two investors... I have been in business before and one should be conservative with revenue projections and at 15% onto projected expenses...thus at the end of the year the only surprises will be GOOD ones...
Here are two links that should answer all of your questions.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10149265
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10203255
Wow the cultivation and production location is already built. Did you see it? Because the S1A states they need five million to build it and you say its already built... wow great news they started this process in March and without state or city approval they build a cultivation and production for five million....Someone please send pics..
Heres a copy of the S1A that is consistent with my google map of a vacant lot...
With respect to MediFarm, the estimated construction budget (for year one) and operation budget (for the first five years of operation) is approximately $500,000 for the dispensary facilities and approximately $5 million for the cultivation and production facility.
We formed MediFarm on March 19, 2014. We own 60% of the membership interests in MediFarm . The remaining membership interests are owned by Camden Goorjian (20%) and by Richard Vonfeldt (20%), two otherwise unaffiliated individuals. Upon receipt of the necessary governmental approvals and permitting, we expect MediFarm to operate medical marijuana cultivation, production and dispensary facilities in Clark County, Nevada and a medical marijuana dispensary facility in the City of Las Vegas.
With respect to MediFarm’s proposed facilities in Clark County, Nevada, the Clark County Board of Commissioners voted on June 17, 2014, to approve a special use permit for MediFarm’s vertically integrated and co-located medical marijuana cultivation and production establishment located at 6585 West Gary Avenue, Las Vegas, Nevada 89139. This is a local land use approval and the first step in the process for MediFarm to obtain a state medical marijuana registration certificate pursuant to Nevada Revised Statutes Chapter 453A to operate cultivation and production facilities in Clark County, Nevada. MediFarm submitted an application to the Nevada Division of Public and Behavioral Health (the “Division”) to operate these medical marijuana establishments in Clark County, Nevada. Using a merit-based ranking system, the Division will award provisional registration certificates to those applicants who score the highest based upon certain criteria and point values up to the designated number of registration certificates the Division plans to issue in that jurisdiction. If MediFarm receives a provisional certificate, it would then have to apply for a local business license from Clark County and obtain a building permit for any construction before beginning business operations. We understand that the Division anticipates it will issue state registration certificates on or about November 3, 2014. If MediFarm is issued a certificate, as to which there can be no assurance, MediFarm would need to complete construction of its facilities by December 15, 2015, or the special use permit would expire.
They sure make it sound like a vacant lot to me..
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10203255
I will agree that the buildings that will house the dispensaries are probably already built and ready to be leased. But the cultivation and production buildings will need to built or existing buildings will need to be modified .
YOur correct but in this case the photo is dated June 2013. I am sure someone here is that lives in Las Vegas and can advise that there is an existing building thats 50,000 sq feet that meets the new medical marijuana cultivation code already.... :)
If you google 6585 West Gary Ave you will see a vacant lot... NO building...... plus why do they need five million if the building is there?
I repect your decision to copy and paste.... I like to talk in plain layman terms.... such as construction. I am sure most shareholder have an idea how long it takes to build a home and most homes are about 3,000 sq feet. Now imagine building a 50,000 sq foot building...
I will address the first paragraph.( I am almost out of posts for the day so if I become mute that is the reason)
You suggest Nov 4 , construction begins. I suggest the license the awarded on Nov 4th by the STate , then TRTC has to go back before Clark County to get final approval. Then they have to submit plans for building permit. Then when permits are issued, contruction begins. Then comes cultivation. Nevada law says first crop MUST come from Nevada residents..So how many plants will it take to fill that 35,000 to 50,000 facility ?
And more importantly TRTC does NOT have the 11 million needed to finance this....
All these issues can be resolved but not on November 4th.
Edible Gardens side of TRTC I believe is valid and will return a profit by the end of 2015, but the Marijuana side of the business will deminish returns for at least 3 yrs...IMHO...
I try to think logically as to a proper course of action, and I keep returning to a Spin Off. Edible GArdens will be better off not being associated with Marijuana IMHO. Medifarms LLC will have a better time getting financing with an IPO and in most spin offs the parent company shareholders get one free share for every 100 ( approx) which will be acceptable for many TRTC shareholders and cause all the shareholders to HOLD their stock and not sell cause they want the spin off...Medifarms will have a new batch of shares to dilute and a new crop of investors, who will be willing to buy that ONE Ton Ship ..........
I take full responsibility in my purchase and blame no one but myself. Given that..I have a choice to make...I can promote this stock, bash this stock or just try to let the new wave of shareholders understand what the facts are....The S-1 was difficult for me to understand...I thought the floor was 30 cents but I have since learned thru another here that the floor is .125...but that was 48 million at 125 which yielded TRTC 6 million... They now need 9.75 million which means they need to do another S-1 or find a more suitable financing arrangement but in the end they will owe someone over 16 million dollars at a rate of near 12% starting in Sept 15, 2015.....and at best their return on Marijuana will not begin till the end of 2015.....and their return will be 50% cause they had to give up approximately half to other investors. My research shows majority of dispensaries make an annual return of 500,000 to One Million. There are those here who feel the annual return will be 25 million....I think thats unreasonable but even if it was true..DP said costs to run Nevada is 35% so take 35% off 8,750,000 and then take 50% off to pay off investors and that leaves you 8 million in profit and TRTC owes 16 million.... so depending how to pay off the 16 million it will be years before they make a profit in Nevada..IMHO ( I could be wrong and good luck) My exit stragedy is slightly above .38 cents..but that could change as further financing is revealed.
Yes... I am..... I mis read the S-1 and thought the 11 million was there. I didnt realize they have to come up with it to build out Nevada...
Excellent idea... lets add costs to getting the gold by obtaining an off shore drilling company to break the gold up into small pieces. Lets not concern ourselves over the costs cause the ton of gold is worth it....... As long as you wish to add details.. I think I see two guys in a dinghy snokeling in three feet of water and picking up nuggest of gold in their hands worth only 1300 a oz and there are thousands of oz's along the coast but TRTC's crew cant see em cause they are now in a one ton ship that has to stay out in the sea or become grounded....
You are an excellent example of of a TRTC shareholder. You cannot see the truth even if its right in front of you..... Please read the facts prior to buying...... the gold was clearly identified as ONE solid Rock... You have no way of getting it to shore but yet you will spend millions trying...and yes some day you will realize your boat is too small so just go out and buy another one and INCREASE your Float( pun intended).....
HOw many 1/2 ton ships can carry a Ton of Gold ?
What if we replaced the produce with shrimp and Marijuana with GOLD to make this story easier to understand. TRTC owns a shrimp boat that costs 6 million dollars and they a payments at 12% interest. Their main source of income is catching shrimp but when they are done selling the shrimp they are 100,000 dollars in the red and should ve just stayed at the dock. But wait they have verified there is a a solid rock of pure gold at the bottom of the sea not more than 20 feet under the water...Problem is the rock weighs a ton, to some this is fantasic cause they will all be millionaires but their ship is only rated at 1/2 ton and they have no crane....But wait they found a crane that can do the job for 11 million dollars but need two helpers who are crane certified and they want 50% of the profit and will put up 1.3 million and all TRTC has to do is find another 9.75 million to pull up that one ton rock and bring it to the dock in their 1/2 ton ship.... They are currently looking for investors to pony up the 9.75 million as on November 5th GOLD season opens..
If they get the licenses in Nevada , where will they get the 9.75 million needed to build the facilities and operate them?
I bought some TRTC at .67 and GWPH at 67.00 on the same day to see which stock is REALLY expensive to buy......
The OS shares went from 167 to 333 million, with the last S-1 they sold 48 million shares for 6 million dollars...... and they still need 9.75 million dollars IF they get the Nevada licenses...and during the times of building Nevada the convertible notes become active....so after all this is accomplished they will have at least 16 million in debt and their business model in Nevada is shared, thus they will be sharing profits of roughly 50%, where the investors offered 1.3 million in cash and TRTC had to come up with 9.75 million....... From what I found an average dispensary makes between 500,000 to One million a year....
I am just interested in conversation that includes facts that verify either pro or con on the business model... Statements that instill FEAR, ANGER or Greed does not benefit anyone....
I had a conversation last nite here and a fellow poster advised this last filing for 48 million shares only generated a little over 6 million dollars as the share price was only .125... Thus the 11 million needed to Open the doors sometime after November 2014 needs to found? Does everyone agree or disagree?
Whats needed is legislation to allow all forms of Marijuana to cross state lines for the purpose of Medical Marijuana. That would speed up the process in Nevada, where dispensaries are required to start their initial batch from Nevada patients...