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The name of the game is buy low sell high. If you're risk averse you wouldn't be in the OTC in the first place. Go buy some electric vehicle company if you like to gamble, but not really.
So? Has this ever been a simple R/M? I had my hopes early one, but this is obviously more complex then most mergers. No. It involves a LOT of companies and moving parts. That's the part that baffles a lot of people and skews expectations. "Why can't this be like others?" Answer: There are no others like this. In the OTC world we deal with reality, not what we wish for.
Most closings take 60-90 days after signing the binding agreement. The company is well within schedule. Though every situation is different.
So we're at 403M OS after Anthea. Maybe 475-500M after Obocon. I'm fine with that as long as they bring net profits to the equation. Their first post merger 10q will be fun reading.
Do the current fins, given they have not closed on any of the intended acquisitions yet (though the do have 2 binding agreements so far) have any relevance whatsoever to the future of this company? Is it so hard to look past the current SEC required report to imagine what they will be? Why do you think the stock price today does not reflect an empty shell and hasn't for over a year?
They didn't mention what price they paid for the 60M shares, but that's probably not far off. My guess is they paid around .04/share. These guys really need help on how to do a PR properly. lol.
Based on another ticker I follow that has similar revs (though different sector), CLSI stock price at 403M shares should be $.09-.12. And that's just accounting for Anthea.
I read that as Anthea is currently doing about 3-4M/qtr right now? With expected short term growth to around 6M/qtr. That's not too shabby. That alone should give them at least a $30-50M market cap. That's a 3-5x upside from here in SP. And that's without Obocon and potentially Four Coloure Printing. Does that sound about right?
There's almost always lockup periods and daily volume limits. Not worried about that. Especially depends on who owns the shares.
It's funny. with all the DD, existing companies, LOIs, Binding LOIs, JC's name as controlling owner or CEO on all of them, respected experts in their field working with him, etc, its those of us who believe in JC that are the delusional ones. Yet, the only thing that you have to go on is a lack of verifying documents. Nevermind that the merger hasn't completed. We'll just pretend there is none. And that somehow makes all the rest irrelevant? THAT is beyond delusional. It's insane.
Share count hasn't changed. GRN intent to go public with their holdings hasn't changed. What are you talking about?
How do they pay off the 400K debt? I don't know? Write a check? Cash in some gold coins? Raid the penny jar?
Please. Talk to me about their holdings after they acquire them.
I'm not a lawyer or banker, so can't answer. But I do know PBC and many others have found a way to operate without those requirements. I am of the opinion our lack of knowledge of the MJ banking environment is not indicative of impropriety. Some say otherwise. I'll go with what we know, and that is they are making money. Do you know of any of these non-bank banks that have been shut down or are even threatened to be? I've not seen one. So I'm just going to enjoy the millions of fees they generate for my small stake in this company and not worry about it, once the acquisition closes.
Being a state or federally registered bank and providing banking services are not mutually exclusive. Both can and do exist.
If PBC were the only one doing this, I might see your point. But there are literally hundreds of cannabis banking/payment/merchant service providers that do the same exact thing. This is obviously a model that works.
And stop with the insured bank regs. PBC is not insured nor required to be.
First of all, they are not a bank in the capacity you speak. They are also not federally insured and so not subject to FDIC requirements. I think that's been made clear.
So your premise is that PBC is operating in the shadows, illegally, and it's just a matter of time before the feds find out about them and shut it down? That is highly improbable given GRN's high profile and the length of time they've been in business. And do you think their business partners never did any DD on them before making PBC their preferred merchant service provider? Not to mention the multiple alleged attempts by members to alert the feds to JC's supposed shenanigans. I mean, come on. Why are we trying to make this something it's not?
Right. And do we know for sure why the payment was withheld? The money was in Cann's account. Well, it was until Cann spent it all.
They can do whatever they want with the deposits. The issue is covering withdrawals.
I was reading one of those sites I that do cannabis banking and they mentioned that the Cole Memorandum, in part, gave them legal authority to conduct MRB transactions.
https://www.hypur.com/cole-memo-recscission-one-year-later/
That is completely false. Do some more research on it, please.
I don't need to. There are enough of them out there to figure out that what PBC and the others are doing is a valid business model. And oh look, some of them even advertise their deposits go into FDIC insured accounts. Huh.
Come on. That's pure speculation with no basis whatsoever. But let's just say PBC moved that money to GRN's accounts. SO? That money doesn't sit in a bag in the corner with Cann's name on it, it get's put to work making them money. Those deposits belong to PBC/GRN and they can move funds into other accounts, investments or loans at will. That's how banks make money.
Look at your trading platform. Do you have a cash balance? Guess where it is? Not in your account, that's for sure. It's been invested somewhere and earning money for them. If you need a withdrawal, it comes from a pool of reserves from all their accounts, not a bag with your name on it.
Call it what you want. Merchant services, Finance, Payment, whatever. For lack of a better word, I'll call it a bank. They provide bank-like services involving high-risk funds. That is not in dispute. The fact remains it exists, is operating, is collecting massive fees, has major partnerships with Cannatrac and Grapefruit, and will belong to GRNF soon.
Call Finncan, Hypur, Shift, Naturepay or any of the dozens of similar cannabis banking services and ask them if they're legit or not.
I've never seen his facebook so wouldn't know about any of that. Too many people are obsessed on his personal life. I didn't buy stock in JC, I bought stock in GRNF.
Just because it's taking some time to close these deals is in no way indicative of their legitimacy. It only reflects on our expectations. In most cases, those have been grossly optimistic in all respects.
The federal government has made clear they won't interfere in cannabis operations as long as they comply with local/state laws. PBC has never claimed they are federally regulated bank. It's quite clear in the client service agreement that they are not. The only ones even mentioning that are people who like to point out that they aren't. Right, we know. It's not necessary for what they do.
How many of his 11 companies he's taking public are not legitimate? One? Five? None? Do you have any idea?
You are dead wrong about cannabis banking. There are dozens of financial service companies just like PBC already operating that cater to the industry. And PBC has been in business over two years. Why do you think this one in particular is an outlier?
Ask yourself why haven't any of them been shut down if it's an obvious end around the regulations? Something doesn't add up in that analysis.
lol, you're joking right? You don't think people have looked closely at this in the past year? The homework clearly shows what it is and it's nothing that you're saying.
You can't spin it like that. We all know Pineda was fired for fraud and Sam took over his mess.
I've followed Gencanna and some of their business partners for years. They went bankrupt because of a massive fire that destroyed their facility and they lost their harvest. They lost everything, including their company when they had to sell to a creditor. I feel bad for them.
Executing their business plan isn't technically a pump. Although it does get people excited for the future. Those filing you/us seek will come in time, no question. The SP will likely be much higher by then though.
I do know that GenCanna in Kentucky made a $30M bulk hemp seed purchase last year - to give an idea of what kind of sales they could achieve. And that's just one large company. Sunshine Hemp CEO Mike Kelley was one of GenCanna's founders and has huge connections in the industry.
I saw a projection once that hemp farms may surpass citrus farms in FL in the near future. Seed supplier/genetics is big business.
We're getting back to buy hard territory. Hard to believe you won't make money with .02 shares. I guess people aren't willing to wait and see what the 8ks and eventual earnings will say.
What charges? I'd be interested in know what he's under indictment for. Or is this just some weird fantasy?
Even if it were a share selling scam (it's not), they are doing it wrong. lol They should have sold at $.25, $.50, $.75, $1.00, $1.25 $1.50, $1.75, $2.00, $1.75, $1.50, $1.25, $1.00, $.75, $.50. But, I can't find that JC has sold at any of those prices! Not a single share. Huh. Even his supposed unrestricted shares are still there, restricted. WEIRD. Of course, you should know by know those shares can't get unrestricted until 1 year after shell status is removed. But whatever.
Have you ever followed an acquisition before? It's always a non-binding LOI, Binding LOI, then closing. I've seen this sequence for almost every pot stock I own. Curaleaf took a year to close the Grassroots acquisition. Halo Labs about the same to close their deal with Bophelo.
You're definition of unusual is not accurate. This is the NORMAL sequence of events. GRNF perhaps PRs some unnecessary steps, like the completion of DD, but everything that has happened thus far is necessary and commonplace for M&A activity. LOIs always precede Binding LOIs. If you are a new public company, I DO NOT find it unusual to see PRs on their progress. What is unusual, and this is what makes GRNF so interesting, is the number of entities they are acquiring right off the bat. THAT might be a record in the cannabis space.
Red flags? All I got is the they guy is an attention whore. His personality has no bearing on whether I buy his stock or not. I don't see anything as far as operations go. The PBC/CANN lawsuit is curious, but I'm of the belief the suit is frivolous. Not much GRN can do with that other than let the proceedings run it's course.