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.
Accumulated deficit is $8.4M. That expenditure has developed third party tested and proven technology, acquired a pending cannabis applicant in Texas and took the Company public. How does that compare to OTC peers in the cannabis space still in development stage?
O/S and float are still manageable with the right developments in place. Burn rate is low. Past guidance is irrelevant, the Company ceased and discontinued those non-performing efforts.
The Company's current plan is disclosed, provides a clear path to both assets and revenue and simply needs to be funded. Hence the current registration effort.
You've always pointed out the negative, which is fair. But it's not fair to discount the positive.
Read the disclosures, it's mainly all write off's for Alamo acquisition and subsequent JV and the costs of preparing and filing the application.
That all changes should the Company be awarded a license. The Company subsidiary Alamo, is still very much a pending applicant in Texas. It's expected that in the 2019 legislative session, the Compassionate Use Program will be expanded and more licenses issued.
Also disclosed in the filing was the DPS internal review which basically said it interpreted the law as being free market based and the DPS is under Sunset review.
I love how you always give half the information.
This stock currently has a 36% spread (.11 X >.15) on average daily dollar volume of around $6,000 and moves 10% on a few hundred dollars of volume.
Comparing this Company to a more liquid peer is not fair, nor practical. It's going to be more volatile due to the lack of liquidity.
I'm not making excuses, I'm simply pointing out the reality of the liquidity of this stock. Investors in penny stocks should always factor the limited liquidity and volatility of any issuer against the dilution being made when making a decision to invest.
As reported in SEC filings, this Company's O/S has declined, not increased. OTCmarket's indicates the O/S has been verified by the transfer agent.
Your concerns appear to be based on current market activity and not on the fundamentals of the Company.
I think the market is bearish on most US based cannabis stocks at this point. Since January, the US index has lost over 30 points, down to 72 from 108.
https://marijuanaindex.com/
Read the filings, there are considerable things happening.
There is quite a bit of technology development being undertaken with partners. Technology integration doesn't just happen magically. The Form S-1 filed in January spells out the core plans.
Example under MD&A:
On October 26, 2017, the Company entered into a LOI with Harvest Air and on November 1, 2017, entered into a LOI with BIOS Lighting. The three companies plan to collaborate with Indoor Harvest towards the development of a fully integrated platform designed to provide cannabis producers the ability to manage and record phenotypic plasticity in the cannabis plant. By combining Indoor Harvest’s proven aeroponic methods, Harvest Air’s HVAC designs, and customized lighting solutions from BIOS Lighting, the three Companies plan to demonstrate an ability to manipulate and control phenotypic expression in the cannabis plant for the purpose of research and production of pharmaceuticals.
In addition to collaborative research and development, the group plans to develop advanced automation strategies to control the growth of cultivars with high pressure aeroponics by integrating power generation, HVAC, LED lighting systems, phytometric devices, and near-infrared technologies, into a fully integrated facilities package. By using real time measurements of plant physiological processes and precision management of the production facility environment, the group intends to offer scalable solutions and production methods designed specifically for cannabis phytochemistry and precise phytochemical production.
Prototype development will take place in Tempe, Arizona, as part of Indoor Harvest’s planned cannabis technology development described below. In exchange for Harvest Air and BIOS Lighting support and services, Indoor Harvest has agreed to exclusively utilize any developed hardware or strategies provided by both companies in its future developments in Parachute, Colorado and Stockdale, Texas, or other location in Texas approved under the TCUP as described in more detail below.
Technology development and integration takes time to engineer and the Company is putting into place the team (recent announcements on CMO, CEO and Advisory Board) to execute the business plan.
There is a lot going on, you simply have to follow the filings and the steps that have been taken towards achieving the goal.
Are you even aware of what the Company's end goal is?
We are seeking to use the relationships and technology we have developed to become a registered producer and seller under the CSA of pharmaceutical grade cannabis for research by third parties developing targeted treatment for specific medical symptoms.
Based on your recent comments, I'm not sure you've even read the previous filings.
Markets have been known to be irrational at times. The fundamentals are what matters.
The O/S was reported as 26,403,363 shares in the Company's Form S-1 filed in January. In February insiders returned and canceled 3,280,470 shares.
Have the fundamentals changed since January when the stock was at $0.45?
Market cap is under $3M, is a pending applicant in Texas, has third party tested technology, solid partners and a development pipeline.
The quite period won't last forever. Penny stocks are volatile. From the NT filing.
https://www.sec.gov/Archives/edgar/data/1572565/000138713118001239/inqd-nt10k_123117.htm
The Registrant could not complete the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 by the prescribed due date, due to the fact that the compilation, dissemination and review of the information required to be presented in the Form 10-K for the fiscal year ended December 31, 2017, is planned to include updated disclosures addressing the SEC comments received on February 26, 2018 related to the Registrant’s Form S-1 filed on January 29, 2018. These updated disclosures and their inclusion in the Registrant’s Form 10-K have caused a delay which could not be eliminated by the Registrant without unreasonable effort and expense. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, the Registrant will file its Annual Report on Form 10-K no later than the fifteenth calendar day following the prescribed due date.
Quite period.
During that period, the federal securities laws limit what information a company and related parties can release to the public. The failure to comply with these restrictions generally is referred to as "gun-jumping."
A number of these rules include conditions of eligibility. Most of the rules, for example, are not available to blank check companies, penny stock issuers, or shell companies.
https://www.sec.gov/fast-answers/answersquiethtm.html
The business plan has been discussed in filings, PR's and in a Deck published with the SEC.
The share structure has been decreasing, not increasing, since the acquisition of Alamo. New Management announced. Company has indicated an advisory board is forth coming.
As for your comment about insiders not buying. They have instead returned and canceled a total of 5,780,470 shares. That's a significant reduction of the shares outstanding. Is that not a sacrifice?
Your ownership percent is based on the shares outstanding, not the price of the stock. Penny stocks are illiquid and volatile.
8-K Documents Current report, items 5.02, 8.01, and 9.01
Acc-no: 0001387131-18-000767 (34 Act) Size: 188 KB 2018-02-23 000-55594
18636663
8-K Documents Current report, items 1.01 and 9.01
Acc-no: 0001387131-18-000734 (34 Act) Size: 27 KB 2018-02-20 000-55594
18625326
SC 13G/A Documents [Amend] Statement of acquisition of beneficial ownership by individuals
Acc-no: 0001387131-18-000520 (34 Act) Size: 35 KB 2018-02-07 005-89425
18581737
SC 13D/A Documents [Amend] General statement of acquisition of beneficial ownership
Acc-no: 0001387131-18-000518 (34 Act) Size: 34 KB 2018-02-07 005-89425
18581708
S-1 Documents Interactive Data General form for registration of securities under the Securities Act of 1933
Acc-no: 0001387131-18-000285 (33 Act) Size: 8 MB 2018-01-29 333-222754
18554068
8-K Documents Current report, items 1.01, 2.03, 3.02, 5.02, 8.01, and 9.01
Acc-no: 0001387131-18-000183 (34 Act) Size: 302 KB 2018-01-19 000-55594
18537723
8-K Documents Current report, items 8.01 and 9.01
Acc-no: 0001387131-18-000047 (34 Act) Size: 34 KB 2018-01-04 000-55594
18510031
SC 13G Documents Statement of acquisition of beneficial ownership by individuals
Acc-no: 0001387131-18-000029 (34 Act) Size: 42 KB 2018-01-03 005-89425
18504148
SC 13G Documents Statement of acquisition of beneficial ownership by individuals
Acc-no: 0001387131-18-000020 (34 Act) Size: 41 KB 2018-01-03 005-89425
18502896
8-K Documents Current report, items 5.02 and 9.01
Acc-no: 0001387131-17-005909 (34 Act) Size: 63 KB 2017-12-20 000-55594
171265141
8-K Documents Current report, items 8.01 and 9.01
Acc-no: 0001387131-17-005865 (34 Act) Size: 35 KB 2017-12-18 000-55594
171260979
8-K Documents Current report, items 5.02 and 9.01
Acc-no: 0001387131-17-005747 (34 Act) Size: 64 KB 2017-12-08 000-55594
171247603
10-Q Documents Interactive Data Quarterly report [Sections 13 or 15(d)]
Acc-no: 0001640334-17-002425 (34 Act) Size: 3 MB 2017-11-14 000-55594
171203024
8-K Documents Current report, items 7.01 and 9.01
Acc-no: 0001640334-17-002276 (34 Act) Size: 1 MB 2017-11-01 000-55594
171168698
8-K Documents Current report, item 7.01
Acc-no: 0001640334-17-002219 (34 Act) Size: 32 KB 2017-10-20 000-55594
171146670
8-K Documents Current report, items 1.01, 2.03, 3.02, and 9.01
Acc-no: 0001640334-17-002179 (34 Act) Size: 303 KB 2017-10-13 000-55594
171137202
8-K/A Documents [Amend] Current report, items 2.01 and 9.01
Acc-no: 0001640334-17-001945 (34 Act) Size: 866 KB 2017-09-12 000-55594
171081199
SC 13G Documents Statement of acquisition of beneficial ownership by individuals
Acc-no: 0001640334-17-001930 (34 Act) Size: 19 KB 2017-09-11 005-89425
171078401
SC 13D Documents General statement of acquisition of beneficial ownership
Acc-no: 0001640334-17-001910 (34 Act) Size: 27 KB 2017-09-07 005-89425
171073569
8-K Documents Current report, items 2.01, 3.02, and 9.01
Acc-no: 0001640334-17-001852 (34 Act) Size: 588 KB 2017-08-29 000-55594
171058263
SC 13D/A Documents [Amend] General statement of acquisition of beneficial ownership
Acc-no: 0001640334-17-001733 (34 Act) Size: 31 KB 2017-08-17 005-89425
171038869
10-Q Documents Interactive Data Quarterly report [Sections 13 or 15(d)]
Acc-no: 0001640334-17-001696 (34 Act) Size: 3 MB 2017-08-14 000-55594
171031676
8-K Documents Current report, items 5.02, 8.01, and 9.01
Acc-no: 0001640334-17-001692 (34 Act) Size: 216 KB 2017-08-14 000-55594
171031615
8-K Documents Current report, item 1.01
Acc-no: 0001640334-17-001534 (34 Act) Size: 242 KB 2017-08-04 000-55594
171009360
8-K Documents Current report, items 8.01 and 9.01
Acc-no: 0001640334-17-001199 (34 Act) Size: 29 KB 2017-06-09 000-55594
17901877
8-K Documents Current report, item 5.03
Acc-no: 0001640334-17-001082 (34 Act) Size: 67 KB 2017-05-23 000-55594
17863030
10-Q Documents Interactive Data Quarterly report [Sections 13 or 15(d)]
Acc-no: 0001640334-17-001065 (34 Act) Size: 3 MB 2017-05-22 000-55594
17861274
NT 10-Q Documents Notification of inability to timely file Form 10-Q or 10-QSB
Acc-no: 0001640334-17-000952 (34 Act) Size: 15 KB 2017-05-15 000-55594
17842299
D Documents Notice of Exempt Offering of Securities, item 06b
Acc-no: 0001572565-17-000006 (33 Act) Size: 9 KB 2017-05-04 021-286007
17810672
8-K Documents Current report, items 1.01 and 8.01
Acc-no: 0001640334-17-000795 (34 Act) Size: 144 KB 2017-04-26 000-55594
17785349
10-K Documents Interactive Data Annual report [Section 13 and 15(d), not S-K Item 405]
Acc-no: 0001640334-17-000737 (34 Act) Size: 4 MB 2017-04-17 000-55594
17764838
NT 10-K Documents Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405
Acc-no: 0001640334-17-000552 (34 Act) Size: 16 KB 2017-03-28 000-55594
17719774
8-K Documents Current report, items 1.01, 2.03, 3.02, and 9.01
Acc-no: 0001640334-17-000550 (34 Act) Size: 133 KB 2017-03-28 000-55594
17719765
8-K Documents Current report, items 3.03 and 8.01
Acc-no: 0001640334-17-000544 (34 Act) Size: 81 KB 2017-03-23 000-55594
17709672
D/A Documents [Amend] Notice of Exempt Offering of Securities, item 06b
Acc-no: 0001572565-17-000005 (33 Act) Size: 9 KB 2017-03-20 021-281424
17700236
8-K Documents Current report, items 3.02 and 8.01
Acc-no: 0001640334-17-000506 (34 Act) Size: 36 KB 2017-03-20 000-55594
17700218
The doom and gloom previously spread over the same terms from Tangiers last year have yet to materialize as predicted.
piperdog, marijuana was illegal under federal law, regardless of the Cole Memo. The Cole Memo was a temporary fix.
It has nothing to do with compassion. Congress has to change the laws and eliminating the Cole Memo will force Congress to act. Also, this recent decision by the DOJ primarily effects recreational, not medical marijuana. We're all closely following the MEDS Act which has bipartisan support.
And lastly, the Company has made it very clear in numerous filings, its intent is to register with the DEA, under DOJ guidance, to produce cannabis via the Controlled Substance Act.
https://www.federalregister.gov/documents/2016/08/12/2016-17955/applications-to-become-registered-under-the-controlled-substances-act-to-manufacture-marijuana-to
AJ Sessions comments on the guidance set above.
http://www.thecannabist.co/2017/10/18/jeff-sessions-medical-marijuana-federal-research/90347/
Lastly, we are a technology Company and this change doesn't even directly effect us presently.
Registered users is a useless metric for determining investment value. All publicly traded social media companies use daily active and monthly active users (DAU's and MAU's) as the metric to judge value.
Massroots has never published that information for investors. It's quite possible the platform has very few active users.
elibiatcho1,
Couple of points.
1.) Management did not "bail". I was placed as Chief Innovation Officer who's job was change management. We identified issues and pivoted the business as needed. In other words, we dropped what wasn't working and added new management as was needed to fix the problems that did exist. I'm the founder and I'm still very much involved. The entire pivot was managed by myself. I in fact wrote an article about the problems that are facing the vertical farming industry, which is the segment we dropped. https://www.linkedin.com/pulse/vertical-farming-industry-learning-from-its-mistakes-chad-sykes/
2.) Tangiers has an attractive PIPE setup, but it's no different than the majority of OTC companies. This type of financing structure has worked out well for AMMJ and CNAB to date allowing them to raise millions. You're welcome to go dig up their filings, note the date of transactions and compare to a historical chart. Tangiers has been a great partner when the Companies deliver.
It's on the company and the new management team to now deliver on its new business efforts. We dropped what wasn't working, shifted focus to our core assets, dramatically reduced expenses (see filings), added a subsidiary that is a pending applicant in Texas, put in place strategic partnerships and now have a funding partner in place. It's not a matter of if we will get a license to produce cannabis, but when. We discussed some of the challenges in our MD&A section of the recent 10Q.
I personally believe interest is low due to the lack of liquidity in the stock rather than any fundamental concerns and I'm hoping that problem will slowly begin to improve.
Warm Regards,
Chad Sykes
Founder, Chief of Cultivation
Indoor Harvest Corp
Seems a lot of people knew what was happening behind the scenes. Not one SEC filing on this so far.
It was a very sloppy coup..
There will be a full retail PR campaign at the appropriate time. No more forward looking statements. Only execution.
The floats not getting any bigger until then.
Trader, It was kind of self evident months ago given the previous filings wasn't it? It's the entire reason I became CINO. That's the CINO's job, change management.
The vertical farming industry has become blinded by the "box" farming method and the decentralized model. The other issue was it started to become apparent that many of the projects would not be economically viable as more data was considered. I wrote an entire article about it and caused a bit of a stir in the industry. A few days after my article, Jeff Bezos dumped $200M into Plenty, proving my point.
https://www.linkedin.com/pulse/vertical-farming-industry-learning-from-its-mistakes-chad-sykes
The pipeline was never "mine", hence the change management. The HPA technology is "mine" and the data supporting that technology is rock solid.
I was more than aware of the problems, so a team with considerable experience in accounting and cannabis operations was put into place.
We're acquiring a pending licensed cannabis producer in Texas, for what amounts to about $1.5M. The misconception is that we did not get a license, but that's not true at all. The State is only allowing the top three to proceed. We are ranked 16th, are considered "pending" by the State and everyone expects the program to be expanded in 2019. I'm also co-founder in a lobbying group, the Medical Cannabis Association of Texas and we'll start working legislators next year.
Additionally, the Company has a tax loss carry forward of about $4M, invested at least $2M into HPA efforts and our post merger market cap is just $5M. And despite all the setbacks and problems, the Company still has one of the smallest capital structures and floats in the cannabis OTC space.
In about 3-4 months we'll have complete economic data and performance of our commercialized HPA system, tested independently by one of the biggest brands in cannabis.
We've put in a total (accumulated deficit) of about $5M to get to this point and have a current market cap of $4.8M and that's not counting the 2.5M shares I'm still going to cancel after we have our shareholder vote.
Our platform can completely eliminate pesticide use because we do not use mediums in production. One of the biggest economic threats to cannabis producers are pesticide recalls and regulatory groups are expected to really crack down on pesticides.
It's not guidance that is coming, it's results and economic (ROI) plus verified performance. Something we can then use to market and sell our technology.
Mr. Brochstien compared us to GrowX a Company which is currently where we were 5 years ago. I'm sure they will have to go through the same big learning curve we did. I found it to be a very uninformed comparison coming from someone who claims to be an analyst.
As far as Alamo goes. If shareholders do not like what is presented to them, then they simply do not have to approve the transaction. None of the above changes. Management does not currently control the vote, nor can they reach a quorum with other shareholders. If that was possible, there would be no need to solicit a proxy as has been stated is required.
An update will be coming soon.
All will be revealed.