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Disappointing to see Sal come this far and his ego won't let him get the hell out of the way and hand the operation off to more capable hands.
Have some thoughts..Holler later..Need to get some lab work done prior to chemo gig tomorrow am.
SGMD O/S 12/31....3,618,939,670...Float 2,908,401,515
Filings indicate Jimmy has 36 months to exercise 30% option as of Feb2020..gl
I personally don't believe Jimmy exercises Budcars option anytime soon, if ever, but looks like Jimmy is including Budcars operations per VIE status in financials, which frankly was a surprise to me..and should be a pleasant surprise to shareholders imo..
Per SGMD financials:
"Sugarmade, Inc. and Subsidiary
Notes to Unaudited Condensed Consolidated Financial Statements
September 30, 2020
Presented below are condensed financial position data and operating results of the Indigo’s business segments for the period ended September 30, 2020.
As of September 30, 2020
Current Assets $ 935,593
Non-Current Assets 257,060
Total Assets 1,192,653
Total Liabilities 623,123
Total Equity 569,530
Total Liabilities & Equity $1,192,653
Revenues 1,571,356
Cost of Goods Sold (647,467)
Gross Profit 923,896
Expenses (921,954)
Net Income $ 1,942
"As an investor in the Budcars licensed cannabis delivery service brand (“Budcars” or the “Budcars Brand”) and as a joint owner and joint operator in Budcar’s first operating location in Sacramento, California. During early 2020, the Company gained a 40% stake in the Budcars Brand and in the Sacramento delivery operations via acquiring a 40% stake in Indigo Dye Group (“Indigo”). Under the terms of the agreement with Indigo, Sugarmade acquired an option to purchase an additional 30% interest in Budcars, upon which will provide the Company with a controlling interest. As of the date of this filing, the option has not yet been exercised and the Company’s stake in Budcars is at 40%."
gltu
I can only say I didn't locate any permits, does not mean there aren't any..Also, North Bay Wine Country includes several counties..gl
Problem is, that is exactly what Jimmy said in Oct and still has yet to happen..I've plugged in for permits (Indigo Dye Group,Clinton Walker, Budcars,Jimmy Chan,SGMD) in San Fran County and scoured LA County permits and come up empty handed...Jimmy could provide just one location, we could verify and track permit progress just so we can verify it actually exists and review periodically to confirm progress..
$32 bucks paint job for near 50% gain..somebody trying to bait the hook last couple days..gl
"That will be followed by our grand opening of BudCars Los Angeles, which we anticipate now will take place sometime in November."..same 'ol Jimmy
Appears catalyst for otcmarkets caveat emptor (oct13/14) likely due to Jimmy's Oct12 shareholder update..Now, we just need to try and figure out how much truth there was..or was not..in the oct12 update..
"NEW YORK, NY -- October 12, 2020 -- InvestorsHub NewsWire -- Sugarmade, Inc. (OTCMKTS:SGMD) ("Sugarmade", "SGMD", or the "Company") is pleased to issue the following Letter to Shareholders on behalf of the CEO:
Dear Valued Shareholder,
This is an exciting moment in the history of Sugarmade. We have assembled the building blocks of a coherent and cohesive strategic vision, and we are more grateful than ever for your continued patience, commitment, and support as we put in motion key next steps to manifest that vision and drive strong and sustained shareholder value as a key emerging leader in the California cannabis marketplace.
Today, I want to highlight two themes that will help to drive our value proposition for shareholders over the intermediate term: geographic expansion for BudCars and our move to vertically integrate through the establishment of cultivation operations. Together, they represent tangible catalysts driving both top and bottom line growth.
As you may be aware, we have been working to expand the scope, scale, and reach of BudCars, a rapidly growing leader in the California cannabis delivery space – where we hold a 40% stake, with an option to take a controlling 70% stake, and where we are actively engaged in strategic and operational execution of the business.
BudCars has demonstrated dramatic growth over the past 6-8 months, consistently surpassing our modeled expectations as customer acquisition and per-order volumes have powered organic growth within the geographic reach of the BudCars delivery zone in the Sacramento metropolitan area in Northern California. However, to fuel the next phase of our overarching vision, we must begin to expand our geographic reach.
Today, I have good news: that expansion is officially underway. We are expanding BudCars initially into the North San Francisco Bay Area and the Wine Country Counties. That will be followed by our grand opening of BudCars Los Angeles, which we anticipate now will take place sometime in November.
The initial move into the North Bay Wine Country area is ripe with potential. Recent data covering cannabis-related tax receipts from Sonoma County suggest the area is experiencing a cannabis boom, with growth of over 35%, according to a North Bay Business Journal report.
As we begin to see tourism return in the wake of the global pandemic health crisis, we anticipate this region to represent one of the strongest bets as well, and we are excited about positioning BudCars to capitalize on that growth trend.
Expansion in the North Bay Wine Country area will be a key driver for BudCars because it represents more than a doubling of our total delivery territory, with the newly added delivery radius focused on a strong and rapidly growing region.
That expansion move will be quickly followed by our BudCars LA grand opening, which, as noted above, we expect to take place next month. Los Angeles is an enormous market for cannabis sales. It stands as perhaps the largest metropolitan cannabis marketplace on the planet. And we will be thrilled to see BudCars lay down roots and start taking market share in the area.
Finally, we are also excited about building our cultivation presence. As noted in recent Company communications, we have secured a property zoned for cannabis cultivation, and we are currently working with regulators to move forward with the property. This move will function to widen our margins on BudCars sales as well as to position Sugarmade to capitalize on growing demand in a chronically undersupplied marketplace. Because of our access to end-market consumers through our BudCars distribution channel, we will also have an advantage over other cultivators in establishing a branded line of cannabis products, further supporting widening margins at each point in the chain.
These are exciting times for Sugarmade. We have a rapidly growing business, and we are taking concrete steps now to build on that growth. Once again, we are very grateful to our committed base of support, and I look forward to keeping you engaged as we continue to make new strides and reach new milestones.
Best Regards,
Jimmy Chan, CEO"
Anyway,i'll be a good sport and post 35% coupon..https://www.sociablelabs.com/gunther-grant-coupons?d=530975 and encourage folk to visit to observe various niche pieces.
Grant does have creative ability..:)
Hold on now, you were the one who visited and pumped the 108m gngr float, I simply asked for link verification and have yet to receive one...and yes, I am skeptical of most all penny news..It's a jungle out there.
GNGR pumps global sales, but has not filed financials in 3 yrs! gltu
yes, but TA according to Otcmarkets has not..Yet, TA confirmed info for remaining five other security entries..Curious why TA didn't confirm float especially after your earlier GNGR post? Thx
https://www.otcmarkets.com/stock/GNGR/security
Otcmarkets reports 108m as of 2018..??..Is 108m current today? Link please..thx
https://www.otcmarkets.com/stock/GNGR/security
"We have reason to believe and with a high level of accuracy that far more shares have been sold over the years than the actual 108,000,000 float that is registered with the DTC."
????
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158630403
I've take three 40% trades .0014-.002 and missed several more 40%+ in same time span..Everyone has their strategy..Why fight it? Anyway, I do wish all get a SGMD spike and make a bundle..btw, I likely will hold for larger gains if and when Jimmy delivers the Budcars hubs, which for some reason, he is finding quite difficult from the supposed July2020 opening..6 months later and counting..
Yesterday CEO update garbage, notice Jimmy didn't state much of anything..Suspect he is gun shy from Otcmarkets CE..
"We have experienced some delays in opening our new LA hubs, but we continue to work with the city and anticipate that the situation will be resolved in the near term. We also continue to work to widen our delivery reach overall."
"situation will be resolved in the near term"..Yeah,ok Jimmy..:)
That said, another splendid SGMD 50% intraday swing trade opportunity from .0012-.0018..I missed it, tad aggressive on .001 patience..Love Jimmy or hate him, SGMD continues to present trading opportunity..glta
Personally, CE psychologically bothers me..It's the not knowing what the problem is..Imo it lies with 3rd party promos, but idk..SGMD tweeted over 6 months ago they have 5k sq ft indoor cultivation facility..Pumped LA Budcars hub would open in July..and now, the wine country Budcar hub will open prior to LA hub, which was supposedly just weeks away from opening in July..Chit, this is Jan2021, 6 months later...and Jimmy mum on the Budcar hubs development..Get the sense something just ain't right with the LA hubs in particular..Come on Jimmy, post the LA hub location so shareholders can at least confirm its reality..Did otcmarkets request Jimmy to confirm any of the tweeted/PR "pumps"...which eventually led to CE?
RC.."I’ll keep it real. Always. That I promise."
FUNN Born Again :) baptism took place 11/23..https://www.otcmarkets.com/stock/FUNN/news/Amfil-Technologies-Inc-Announces-New-CEO?id=281270
Upcoming 90 day FUNN evaluation should be a good indicator if the baptism just good fluff...or good stuff.
As of 11/23, I am interested in what Rogen says, not Roger.
"we have taken off some time due to the Caveat Emptor"
Huh?..come on Jimmy, remember the saying "never let 'em see you sweat"..Get the damn thing taken care of..pronto!
Dec 30, 2020
SugarMade $SGMD Is pleased to announce that we will be re-booting an extensive branding & marketing program for the business, subsidiaries & products as we have taken off some time due to the Caveat Emptor but go into 2021 with biz as usual! Thank you for all of your support
Per RC.."Any failure from this point forward is 100% my fault because there is nobody standing in my way."
RC respectfully tuned me up quick when I expressed concern if he was alloted sufficient room from Roger/Ben to operate FUNN as CEO..Gotta' love it when the CEO takes responsibility..Looking forward to 3 month update..
"I am the CEO. I am being treated as such. There have been times when we disagreed. I get the final call"...:)
"cannabis store revenue catapulted to an all-time high"
https://www.fool.com/investing/2020/05/28/covid-19s-surprising-impact-on-cannabis-sales.aspx
https://mjbizdaily.com/amid-coronavirus-canadian-cannabis-stores-see-unprecedented-sales-surge/
https://www.google.com/search?rlz=1C1CHBF_enUS783US785&tbs=lf:1,lf_ui:10&tbm=lcl&sxsrf=ALeKk02uE7vsOK8tPwpqyTPoSXzPTsB59Q:1609806050968&q=toronto+cannabis+dispensaries+2020&rflfq=1&num=10&ved=2ahUKEwjkz8zuwoPuAhUrwlkKHVksA3YQtgN6BAgEEAg#rlfi=hd:;si:;mv:[[43.7861091,-79.3206412],[43.6291602,-79.4915946]];tbs:lrf:!1m4!1u3!2m2!3m1!1e1!1m4!1u2!2m2!2m1!1e1!2m1!1e2!2m1!1e3!3sIAE,lf:1,lf_ui:10
https://www.google.com/search?rlz=1C1CHBF_enUS783US785&tbs=lf:1,lf_ui:10&tbm=lcl&sxsrf=ALeKk00hd_f14iB5QJbTvzpASiujp8y2-Q:1609805828915&q=ontario+canada+cannabis+dispensaries&rflfq=1&num=10&ved=2ahUKEwjRxduEwoPuAhUJiqwKHdqVC0AQtgN6BAgEEAg#rlfi=hd:;si:;mv:[[46.06315882799533,-74.2482398690641],[42.266566895772996,-82.4879859628141],null,[44.19542784727184,-78.3681129159391],8]
https://mjbizdaily.com/ontario-leads-canada-with-96-percent-deficiency-in-cannabis-stores-researcher-estimates/
Ontario appears to be a good starting point for Tokin dispenseries partnership.
A/S not raised high enough? Hoping David/FUNN hit the ground running with the next 3 month update with concrete plans to open 4-5 dispensaries in Ontario.
Buying opportunities @.0007 and .001 today...Wowza..Time to place some SGMD GTC orders..Jimmy, how's that Otcmarkets CE coming along?...2.5 months and counting?
"Recently, Rogen K. Chhabra (Rogen Chhabra) was sworn in to practice law in Colorado by the Colorado Supreme Court in Denver."
https://www.facebook.com/cglawms/posts/recently-rogen-k-chhabra-rogen-chhabra-was-sworn-in-to-practice-law-in-colorado-/2758197614223020/
Appears Rogen intends to maximize his Denver opportunities..:)
Gut feeling Rogen secures a Denver Snakes in 2021 as lead investor/incentivization, assuming he remains after the initial CEO trial period.
Hi dmg, I use to communicate often with Jimmy back in the day, faded away as I felt uncomfortable with lack of BizRight transparency and frankly,imo jimmy began distancing himself from increasingly prying inquiries..I do enjoy when folk post as much email verbatim...Anyway, here is one I pulled up from years ago just for the heluva it..:)
***** <**sperp**@gmail.com>
Jan 10, 2018, 2:46 PM
to jimmy
Hi Jimmy, will BizRight deal be contingent on an upcoming shareholder proxy meeting and raise present 300m A/S? Also, i assume there wont be an official Budlife launch until after Plantation Corp files an S-1? Thx for your efforts!! Regards, *****
Jimmy Chan <jimmy@carryoutsupplies.com>
Jan 11, 2018, 10:42 AM
to me
*****,
The Bizright marketing agreement has been executed and their compensation shares is contingent on the increase of authorize shares. Budlife technology is in the final testing phase, launch of product has nothing do with with their S-1 filing.
Jimmy Chan
Chief Executive Officer
Office: 888-982-1628 Ext. 168
E-fax: 888-986-1628
Email: jimmy@CarryOutSupplies.com
"Save a tree, protect the earth. Please consider using our Sugarmade Tree Free Paper if you need to print this email. "
Sugarmade Inc. thank you for your cooperation.
*I redacted the Disclaimer agreement email fluff..:)
"Did anyone here think they were investing in a consulting firm?"
Actually, I have struggled with that from day one..That's why I constantly bust Simon's chops to update website Portfolio page and include NUGSFarm..
09/04.."The dispensaries will operate in spaces within existing retail stores.The first retail location has been secured and will act as the main operations hub and distribution centre for all additional locations. The landlord has agreed to waiving any rent charges for a 9-month period allowing the business to be fully established prior to incurring rent costs."
"Hello again,
We have numerous strategic locations and relationships in place that will provide us immediate foot traffic.
I truely believe that this project is set up for success."
Per DB this morn...
"Yes, a store is required to be licensed but its more a formality than a process.
As a licensed operator, i can simply submit a location to be used as a dispensary. As long as it meets the requirements of being retail, being in a jurisdicion that allows cannabis and is 150 meters from a school, it will be approved. Its then simply a matter of build out and inspection.
And yes, a manager needs to pass a simple background test and get some basic training to be licensed.
None of these things require unusual wait times and the stores can be opened as quickly as our construction and inspections allow."
Curious which Ontario convenience store chain operator that FUNN might have potential working relationship?
https://www.ibisworld.com/canada/market-research-reports/convenience-stores-industry-ontario/#:~:text=The%20companies%20holding%20the%20largest,Stores%20and%207%2DEleven%20Inc.
Welcome Gary! ..gltu
1st Ontario location "vetted" and "secured"...Obtained operator license the major hurdle..Shortly, Rogen\David will hash out "incentivized" partnership agreement, and proceed with any remaining red tape to open facility..Since vetted, I assume experienced David has handled the needed permits,zoning,etc to move forward..Certainly not his first rodeo in last 8+ yrs.
When David submitted 2017 PA dispense license request, he didn't own location, but provided real estate purchase contract details from land seller should he be approved..And obviously, if PA location didn't meet requirements, license invalid..If all kosher,all a go..Similar to Ontario? Any additional location license requirements no biggie imo if David meets standard requirements..
"David Berkovits
12:40 PM (2 hours ago)
to me
The operators license is an ontario license that allows us to open as many retail locations in ontario as we like"
Damn, sure like the sound of that..And much more covid friendly at this time...especially with delivery service?