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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.
It's fair to assume that CANNA is a private company. Valuations are difficult, if not impossible, under those circumstances. The 2% is worth such a pittance that I wouldn't stay up at night worrying about daily fluctuations.
Your question about "what did SUTI pay" is extremely relevant. How can you announce the purchase of something without includeing details such as the purchase price (in US Dollars, in shares, in drachmas).
There is also substantial room for a conflict of interest between Jorge's role as a SUTI officer and his ownership of Eco-Vape and other non-SUTI assets.
Transactions need to be at "arms length" but this one may not have been.
Did Canna agree to include Evo-Vape products in their dispensary?
So, you must know what YOUR company paid for a 2% share in CANNA.
Do enlighten us.
Write Jorge a check. You can be sure that he will cash it. You might even get on his Christmas card list.
What you receive in return for your money, well, blind trust seems to be the watchword here.
GLTU.
What makes you think that those plants belong to SUTI?
One of the uncertainties expressed here is the grey area between Jorge's personal dealings and those where he represents the shareholders of SUTI.
Evo-Vape = Jorge
Kolbe = Jorge
Plant "babies" = Jorge
There are Jorge assets and there are SUTI assets. The two are not the same.
Recall that federal regulations prohibit dispensaries from deducting regular business expenses such as rent, salaries, utilities, etc. Per the DD that I provided earlier, come tax time these businesses have proven to be a BUST.
Pun intended.
Thank you, Rick.
Looks like Eddie may be on a product sampling tour.
Which of these is actually from AURI? I'd like to make a purchase to show my support for the company.
Someone please tell Eddie that the website for the company is www.protekcapital.com . His PR from yesterday shows the site as www.protkcapital.com
Indeed. An old fart with all the retirement money I need and the ability to spell and use proper punctuation.
Stay in school, kiddo.
Emojis?
Wouldn't ride a rice burner and don't use emojis. Sorry.
Did you spend 5 minutes reading the article?
If needed I can have it spelled out phonetically for you. With cartoon pictures and everything.
Dispensaries may bring in revenue but as a business they are a money LOSER.
http://www.usatoday.com/story/news/nation/2014/11/03/irs-limits-profits-marijuana-businesses/18165033/
Milt: As I recall, Mr. Saenz was the proprietor of two retail stores that sold aroma therapy and spiritual healing products. Both locations have subsequently closed.
Not only can Eddie lend money to himself (drawing nice fees, interest, etc. from the stuckholders) but he can also pay himself bazillions of shares as a commitment fee.
Heck, Eddie agreed to turn over 2 $ 10 domains and he received 200,000,000 shares of stock in return. Can you imagine what Eddie will get this time? Off the charts!
Question: does this financing add to or replace the previously announced $ 5 million from Mastiff?
Fair enough. To me he's a proven liar.
Is this the same Jorge that sat by silently while Eddie repeatedly PRd that PRPM had acquired Kolbe?
Your Jorge can be trusted. The one that I'm thinking of can't be trusted.
What are the odds that there are two with the exact same name? Gotta be astronomical.
I want to know if the Texas Tollway will want the thousands that Eddie owes before SUTI/PRPM can do any business in the state.
Oh yeah, today is Wednesday: Eddie's gone.
Consider doing some DD on announcements that have already been made.
3D Mural Art available through Amazon, eVine (formerly ShopNBC) and shipments made to Rooms 2 Go.
Find anything on those sites that looks like it has anything to do with AURI? Ummmm. No.
Also, read the Rooms 2 Go announcement. It says that AURI made its first deliveries to R2G. It doesn't say that the products had been ordered by R2G. Consider the possibility that AURI sent an unsolicited sample to ROOMS in hopes of generating some interest.
I liken that to a garage band dropping off a mix tape at the local radio station hoping to get some airplay.
It's entirely likely that ROOMS took the Chinese 3D Elvis (non-licensed I'm sure) sample and put it out with the day's lunch scraps.
Don't take anything here at face value.
BTW, isn't Cannacare (cited in the 3rd link that I provided) the same company that Jorge is looking to partner with?
Maybe Jorge can spin off the $ 875,000 that CannaCare owes to the IRS. Those entities that accept liabilities are just magical, aren't they?
Let's hope that Jorge is just as transparent as he was when he quietly sat back as Eddie/Looter announced the acquisition of Kolbe (aka Koble).
I forget if it was two of three times that acquisition happened.
No LOI, no MOU. Acquisition. I read it on the internet.
I'm here purely for the fairy tale entertainment. I canceled Cable TV a few months back because Eddie provides better fiction that can be found anywhere else. Jorge is more of the same.
Make plenty of bank, my friend.
And yes, everyone should slap dat ask. Misery loves company.
PRPM
Those who take advantage of a PRPM share buyback will get what in return? Perhaps shares in the SUTI entity that absorbed all the spun off liabilities?
Answer to your question:
why would an alleged dispensary even be considering any deal with a bottom of the barrel scum scam company such as PRPM/SUTI
MJ dispensaries are a financial DISASTER! If I owned one I'd be looking to sell pronto. If this sale goes through (which it won't) Eddie and Jorge will pay themselves a BONUS while the stuckholders of PRPM will own an albatross.
DD:
http://www.usatoday.com/story/news/nation/2014/11/03/irs-limits-profits-marijuana-businesses/18165033/
http://www.boston.com/community/forums/news/politics/general/truly-oppressive-tax-rates-on-small-business-owners/80/7605035
https://mrwakenbake.wordpress.com/2014/11/07/how-a-simple-tax-code-is-destroying-the-cannabis-industry-one-shop-at-a-time/
“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.”
Woolhiser is hoping that increased sales this year will make up for the loss he took last year — but he is still paying off his debt to the IRS.
“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.
MJ dispensaries are a financial DISASTER! If I owned one I'd be looking to sell pronto. If this sale goes through (which it won't) Eddie and Jorge will pay themselves a BONUS while the stuckholders of PRPM will own an albatross.
DD:
http://www.usatoday.com/story/news/nation/2014/11/03/irs-limits-profits-marijuana-businesses/18165033/
http://www.boston.com/community/forums/news/politics/general/truly-oppressive-tax-rates-on-small-business-owners/80/7605035
https://mrwakenbake.wordpress.com/2014/11/07/how-a-simple-tax-code-is-destroying-the-cannabis-industry-one-shop-at-a-time/
“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.”
Woolhiser is hoping that increased sales this year will make up for the loss he took last year — but he is still paying off his debt to the IRS.
“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.
I've been asking about this toxic debt spin-off for quite a while now and am desperately seeking details.
My cousin Artie bet big on the Seahawks in the Super Bowl this year and he still hasn't paid off his bookie. Bad move, it seems. The bookie sent some gorillas to Artie's job to collect. Artie first told them he wasn't paying because of "DeflateGate."
Apparently that didn't go over so big: When I saw Artie at our Memorial Day BBQ he had a limp that he wouldn't discuss.
Last week the collection agents make a return visit and Artie said he wasn't responsible for the debt because it had been "spun off." One of these uncouthed individuals said he was going to spin off on Artie's "good knee" if he didn't start paying.
So, I really need to find out how this works so Artie doesn't get hurt further. How can he spin off his gambling debt in the same way that SUTI has spun off its prior obligations?
Eddie? Jorge??
TIA.
He may have (allegedly) stolen $ 20K but that money is long gone.
The man had expenses. Trailer lot rent, hair gel, sunglasses.
And scratch off lottery tickets. Lots and lots of scratch off tickets.
Even Looter didn't believe that Eddie would "provide" over the long term. He had to go for the sure thing. Scratch off tickets.
BTW, do you think Looter gets pension payments from his days as CEO of Proctor and Gamble?
And in the spirit of PEOPLE FIRST let's all agree that the first $25,000 of PRPM revenue goes towards Luther's bail.
Who's with me on this?
Well, I sure hope you resurrect the LUTHER'S KIDS program. It sounded like a great idea to me.
Unfortunately, your philanthropic tendencies are in contrast to our American Capitalist system. If one wants to share personal wealth I'm all for that. Corporate wealth? Well, that's an entirely different kettle of fish.
Perhaps the man with the Super K share will strike the proper balance between profits and the public good. I hear that he's quite an honorable (Ukrainian) citizen.
They won't last long if the taxes eat up their profits which, as of now, is entirely the case.
State law does not trump Federal law.
Focus of the article was on FEDERAL taxes.
Nothing has changed at the federal level. Nothing in the foreseeable future either.
MJ Dispensaries are hurting. Do a little DD.
Here's a start:
http://www.usatoday.com/story/news/nation/2014/11/03/irs-limits-profits-marijuana-businesses/18165033/
Short version: Since the general government treats MJ as an illegal substance it has directed the IRS to limit deductions available to MJ related businesses. While MJ dispensaries can deduct their direct cost-of-goods sold (what they pay to acquire the product) they are NOT permitted to deduct expenses any other business can take. That includes employee salary, rent, utilities, etc.
Owners of MJ dispensaries are essentially federally taxed on their revenue less the cost of what they pay for product.
There is talk about changing the law, but there has been no serious movement.
Anyone who sees big profits in MJ Dispensaries doesn't know what they are talking about.
Reminds me of Chauncey Gardner in BEING THERE.
Last time I checked OTC Markets showed that the financials were AUDITED but the financials themselves said NOT AUDITED on the cover page.
Another misleading "failure to update" that Eddie was certainly aware of.
Clearly you disagree.
I provided my rationale. Care to share the basis for why you disagree and believe that Jorge and make this a success? Maybe you can sway me.
What exactly is it that Jorge has now that he did not have previously (as sole proprietor of EcoVape and its multitude of Divisions and Subsidiaries)?
We know about the soon to be magical spin-off of liabilities to some fantastical entity that will relieve PRPM, SUTI and the Wizard of Oz from prior obligations.
We know that Eddie has just a tad bit of baggage associated with his name.
Is the supposed "good news" the possibility that Jorge can now issue shares to potential partners so they become part of the PRPM family? Is that it?
Does anyone believe that with Eddie as Chairman that any conceivable (unlikely) profits would benefit the Company shareholders?
Every possible cent of revenue will go into Eddie's pocket or his cohorts. It could be rent for space in his "mothership" office, consulting fees paid to Eddie's cocker spaniel as corporate barksperson, financial management fees paid to Scott (because we know what a genius he is.) And then there's the miscellaneous on-retainer bail bondsman for whoever gets arrested. Maybe Jorge gets a taste (probably not).
For shareholders? Nada.
Other than a blip if someone is gullible enough to eat up a mangled English PR from Eddie, why is any of this positive?
More of the same coming down the pike.
And AURI uses the same super lawyer that Eddie's other companies use for global locks and such. You know, the guy who operates out of his Staten Island garden apartment.