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Mind blowing to me that a $5m+ NUGS pays big bucks to Network News Wire and Tiger Global Mgmt, and previously Arlene Guzman...and nobody sees the need nor value to incorporate the NugsFarm subsidiary info into the Cannabis Strategic Ventures website..Isn't branding vital these days, and the brands NUGS website continues to embrace are either history or little value at this time.
I've said it several times, it feels almost by design that Simon intentionally comfortable with the disconnect of NUGSFarm on the NUGS website...and flabbergasted that Simon...nor NWW...nor Tiger Global refuses to address this simple fix...Why?...
https://cannabisstrategic.com/
Would you buy a Peter Jacobs pizza with extra pepperoni..and anchovies?
https://ecorp.azcc.gov/BusinessSearch/BusinessInfo?entityNumber=L10627226
Rat, ERBB overpriced..0005 better suited..gl
ERBB..Trips with news..:)
.0011 hit..ERBB setting all time low records!
"nor have we been told where the investment money went."..
Checking the surprising addition of the multi millions in consulting fees weighed against their returned value might be a good start..:)
Here's fishy...
Oct12.."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."
What does "expansion is officially underway mean"..Is SGMD just now committing itself to the official Bay Area process? Are they acquiring existing operation or starting from scratch locating a facility..The 1st LA hub was supposedly weeks, then days away from grand opening starting in May..it is now 5 months later! And Jimmy (or Joel Noel?) pumped the 2nd LA hub opening was ahead of schedule...Huh?...and now we get news that LA won't open until after Bay Area hub opens..Jimmy has provided zero transparency as to what stage the Bay Area hub is..Gut feeling tells me they don't yet have a leased location..If it's taking 4ever to open just one of the two LA hubs, then I assume it might take 4ever and a day just to open Bay Area..Something is not right here, and Jimmy needs to fess up!
So Jimmy, who's running the SGMD news gig? You...or Director of Communications(?) Joseph Noel
Joe's resume..
Nov 17, 2014 · The Securities and Exchange Commission today charged a San Francisco-based penny stock company CEO with defrauding investors by
issuing false and misleading press releases portraying his purported marketing and infomercial company as a successful venture in order to drive the stock price up while he covertly sold millions of shares into the public market.
Sugarmade Inc (OTCQB:SGMD)
@Sugarmade1
·
May 19
SugarMade Inc. $SGMD is proud to announce its days away from the official opening of the #Budcars Los Angeles facility with an announcement coming on the #expansion of 3 more cities on the way with the US reopening!
SGMD "days away from official Budcars LA opening" per May19 tweet..5 months ago!!..You gotta' be chittin' me..Milked the hell out of the LA hub tweets ...and nada happening!!!
Tuesday 10/20..."CanitBe..good chance we see .0014 this week.."..:)
LA opening correction from July to June...May8.."SugarMade Inc. $SGMD Is proud to announce that we have secured our new #Budcars LA location & expect to be fully operational by June. Updates on the way on the next two cities to follow"
May12 tweet.."SugarMade Inc. $SGMD is pleased to announce that we are days away from receiving our final license & permits for our new #Budcars LA location & are on track to open in a few short weeks with 2 more cities TBA to follow."
May4.."Sugarmade Inc. OTC: $SGMD is happy to issue this SEC Regulation FD Disclosure Filing: “Carry Out Supplies Receives Purchase Orders in excess of 10M....”
Jimmy, good time to update the last 5 months of filling the May4 $10m PPE orders in hand...and a good time to update the additional growth in PPE orders that have "piled on" during those 5 months..Another $5m..$10m PPE growth that needs to be filled asap?
Apr16..."excited to announce the expansion of BudCars into the Southern California marketplace through the acquisition of two locations in the greater Los Angeles area..."
..."we are acquiring two distribution hub locations in the LA area with cannabis licenses included so we can hit the ground running.”
Jimmy, you pumped at least one LA location scheduled for July opening.
Apr16.."Our Sacramento locations will pass the $10 million mark for annualized sales within the next 60-90 days,” stated Jimmy Chan, CEO of Sugarmade. “The growth has been so dramatic that we have had to drastically revise our expectations to the upside"
Jimmy pumped that by July16 Budcars would have $10m annualized sales..As of Oct16, SGMD $7.7m annualized..
Sugarmade Inc (OTCQB:SGMD)
@Sugarmade1
Billboards up everywhere! SugarMade & #Budcars here to service you while your working from home & de-stressing with your kids home from school! New Sacramento Billboard! 877-Bud-2-You. Well in there in 45 min or less!
Love,love BC billboards advertising! Any confirmation as to how many (everywhere) billboards in place? Thx
March13
Sugarmade Inc (OTCQB:SGMD)
@Sugarmade1
SugarMade announces that we are adding 150 cultivation lights to our current grow facility which will bring in another $5m revenue as well as taking over another facility in Marin County for #cultivation & distro. Press to follow in the coming days.
SGMD adding 150 lights to our grow facility per March13 tweet..Who knew we even owned one? Or do we as of March13? How come press never came in following days? Is SEC felon Joseph Noel..aka Director of Communications..involved in any way with SGMD social media awareness campaign?
https://www.sec.gov/litigation/litreleases/2015/lr23208.htm
Sugarmade Inc (OTCQB:SGMD)
@Sugarmade1
·
Mar 3
SugarMade announces updates on the way outlining a substantial increase in ownership of #BudCars and a rapid expansion across the United States & abroad. Details this week.
Disappointing that SGMD pumped outlining the increase in Budcars ownership (exercise 30% option?) in March3 tweet, yet have failed to publicize that outline in over 7 months! Why?
Another typical eod ttrade dumps
is Scott Stoegbauer hiding in an erbb/canx bunker somewhere? why won't he perform his basic CEO financial filing duties? Hiding something?
Panpacific designed to funnel funds away from ERBB and provide VIP another paycheck.
We now know what Rich Dow's connection is.
Lindel has identified his association with ERBB.
ERBB selling stale weed?
Hempistry team photo..Joe is front right with blue cap...NUGS Simon Yu in center, Jimmy Chan back right and John Vu back left..
https://www.facebook.com/hempistryinc/photos/a.486920711837209/518803801982233/?type=3&eid=ARBZdNPc5KQ8Tf4JR3nE7Lu3raS5IXDSz9mslzCuoNWKMmNQfWA0dHlov0er1W6qIKP_-IpnhCf9Isjo&__tn__=EHH-R
Unfortunately, likely more of a hassle than I originally believed.
SGMD is a Variable Interest Entity
"Variable Interest Entity (VIE)
By ADAM HAYES
Reviewed By DAVID KINDNESS
Updated Aug 24, 2020
What Is a Variable Interest Entity (VIE)?
A variable interest entity (VIE) refers to a legal business structure in which an investor has a controlling interest despite not having a majority of voting rights. Characteristics include a structure where equity investors do not have sufficient resources to support the ongoing operating needs of the business. In most cases, the VIE is used to protect the business from creditors or legal action. A business that is the primary beneficiary of a VIE must disclose the holdings of that entity as part of its consolidated balance sheet.
KEY TAKEAWAYS
A variable interest entity (VIE) refers to a legal business structure in which an investor has a controlling interest despite not having a majority of voting rights.
Investors in VIEs do not participate in residual gains or losses.
Variable interest entities are often established as special purpose vehicles (SPVs) to passively hold financial assets or to actively conduct research and development.
Under the Federal securities laws, public companies have to disclose their relationships to VIEs when they file their 10-K forms.
How a Variable Interest Entity (VIE) Works
Variable interest entities (VIEs) are often established as special purpose vehicles (SPVs) to passively hold financial assets or to actively conduct research and development. For example, a company may establish a VIE to finance a project without putting the whole enterprise at risk. However, just as other SPVs have been misused in the past, these structures are frequently used to keep securitized assets off corporate balance sheets.
VIEs are set up with a unique structure where investors do not have a direct ownership stake in the entity but rather have special contracts, which specifies rules and a percentage of profits. Therefore, in a VIE, the investor does not participate in residual profits or losses that usually come with ownership. The contracts don't provide for voting rights either.
Reforms in the wake of the global financial crisis were meant to do away with some of the asset-backed security industry’s pre-crisis practices. But thanks to lobbying efforts by the banks, which had warned of dire consequences should they have to bring subprime mortgage-backed securities back onto their books, the Financial Accounting Standards Board (FASB) relaxed the rules for VIEs, enabling banks to continue stashing loans in off-balance-sheet entities.
Special Considerations
Under the Federal securities laws, public companies have to disclose their relationships to VIEs when they file their 10-K forms. FASB Interpretation Number 46, which is the Financial Accounting Standards Board’s interpretation of the Accounting Research Bulletin (ARB) 51, outlines the accounting rules that corporations must follow with respect to VIEs.
If a company is the primary beneficiary of such an entity—namely has a majority interest in the VIE—then the holdings of that entity must be disclosed on the company's consolidated balance sheet. But if a company is not the primary beneficiary, consolidation is not required.
However, companies are required to disclose information concerning VIEs in which they have a significant interest. This disclosure includes how the entity operates, how much and what kind of financial support it receives, contractual commitments, as well as the potential losses the VIE could incur.
Fwiw, nabbed .0014 earlier, flipped @.002 while awaiting 10k update..Same scenario developing for upcoming Q3..Jimmy will file another NT 10Q and counting on a plethora of PR ammo for Jimmy to call on and embellish as needed..Set it,forget it and take the 40%..Lock in a "fat finger" sgmd buy order (or two) just in case significant below 14 presents itself.. Can't overlook another 500m+ CD potential share dumpage that starts converting end of Oct and could continue daily pressure on price leading into Nov filing..gl
If Jimmy raids the PR library prior to Q3, then great, nothing lost..Jimmy could surprise us with some great PPE sales numbers, open another hub, even fluff an Budcars IPO like he did Hempistry..and Lord forbid, maybe he talks up the 30% Budcars option in a meaningful way.
imo, max 45 days money locked up...and maybe get lucky and opportunity only takes a few days..:)
Vman, noticed ERBB got spanked with .0011s today bigtime..Lowest price ever for a stock that is supposed to be in its best biz position..
Thinking of sending Pete an email and for a reasonable fee proofread and clean up Panpacific International website to a more legible version. Appears new PanP consultant Sean lacks skills to do so.
Little buying action at the Ask..ERBB going to trips.
CanitBe..good chance we see .0014 this week..Seems obvious Jimmy in no hurry on exercising 30% BC option, if ever..Make a play for end of another extended Nov Q and Jimmy gets PR creative, until then, patience for price entry..Nothing wrong with 40%+ gains..gl..:)
Past blast...
"Shearin expects to have 1,000 operating ZaZZZ machines by Christmas -- primarily in medical dispensaries in the 21 states that allow it.'
https://money.cnn.com/gallery/smallbusiness/2014/05/15/vending-machines-creative/index.html
Yes, but have we heard anything since regarding this specific tweet?
Concerned Jimmy's & CBGL associate Joseph Noel is involved with social awareness campaign...https://www.sec.gov/litigation/litreleases/2015/lr23208.htm
Recall, Jimmy's Hempistry Facebook page (team) photo introduced Joe as part of Hempistry mgmt team...and since, Hempistry website has gone dark and Madisonville facility up for lease..??
SGMD tweet states working on otcmarkets update..Think Jimmmy should have worded today's Budcars "growing exponentially" differently..Terrific BC growth over early months, but recent PR indicating $1.9m for SeptQ confirms that exponential growth appears to stopped almost completely..$650k sales for July leaves approx $1.3m for Aug&Sept..Growth has stopped somewhere during those two months..
imo, yesterday Instagram weed photo is not SGMD, and quite misleading..Lower Lake property doesn't have a cannabis license yet...so where is this photo? imo, an intentional confusing photo word ploy.
think next r/s will take a while..ERBB will torture the one tick at a time slide for many months..Remember the last time..Those averaging down got trapped with prolonged one tick slide , seldom experienced over a one tick spike.that's why chiffs erbb stop loss strategy is flawed bigtime.
ERBB getting hammered by .0012...Trips coming.
Just speculating, but $250k deposit and initial $20k monthly lease payment would reimburse Jimmy for his out of pocket 20% downpayment and 1st mortgage payment?
20% of $1,375,000 Lower Lake property sale price is $275k.
A no money down deal for Jimmy's LMK Capital regarding Lower Lake vineyard estate?