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Well today's news has really sealed the deal that Joiant is out of business. Remember how they bragged about Jon Kraft, the Co-Founder of Pandora, will partner with them and could buy Joiant at a future date. Yes, Joiant went under and Jon Kraft does not even have Joiant listed on his Linkedin page. I have no idea if this new company will keep up with demand if it does get big. I don't know how much product they have ready for the shelves, if any. Management has really made false promises that could drive this company under.
I have done that before. Basically I will throw out 150,000 shares to see if any MM will top my bid by a penny or lower their ask by a penny below mine. The volume is what really gives me hope for the climb. They are now at about 2.7 million shares that have been bought over .30. CDEL has been trying to bring this one down. We really just need to know when they will have a product in someone's hand in exchange for money. Unfortunately I have a couple of friends with deep pockets asking me about cannabis companies and I cannot tell them anything about KOAN. People don't understand how many investors shy away from companies that have the C Suite promote like crazy and fail to follow through. Geoffrey had us all snowed. We were supposed to have a launch in January and be in 50 high end dispensaries by this time as he stated in his October 2020 interview. I January he said they had 100,000 units on their way. Well...where are they?
I follow NITE and ETRF. Anytime I see CDEL, GTSM and CSTI on the bid together, I get worried. They are trying to bring the price down. They need to produce some sort of enticing news to get the buyers. They have been promoting their 1st quarter launch like crazy and it is turning into a dud. No mention of presales, no mention of how much product they have ready for sale, no mention of dispensaries that will carry their product, no pricing on their website, nothing to go on. Until they get this together, it is dead in the water. Investors do not like it when management fails to deliver on their promises
Or an MM wants to move the price down. That is a signal that has been around for a long time. CDEL has been controlling the price for a few days now. They create the spread with the highest bid and lowest ask. They have been posting an ask lower than the current price. When they lure the bulk of the buyers in, they buy at the price they want. They knew that buys dried up and they are holding enough at profit to create the price they want. Hence why it is so important for management to tell us more about the launch, how much product they have in hand, how many dispensaries they are in AS THEY PROMISED MONTHS AGO.
I am not going to argue with that post. Your opinion is very articulate and posted in a civil manner. Good DD, great that you do identify the delay frustrations. I wish you the best of luck as well.
The CEO stated on Money TV in January 2020 they would launch a product in 2nd quarter and then another toward the end of the year.
The CEO Stated on the bigbizshow interview October 2020 their product launch was delayed due to COVID and they would launch their cordials in January 2021 and be in 50 high end dispensaries by the end of the first quarter.
The CEO stated on a January 2021 podcast the launch would be in EARLY March 2021. Also stated they had 100,000 bottles of cordials being shipped from China. 42,000 packages.
STILL NO PRODUCT AND MANAGEMENT CONTINUES TO MISS THEIR DEADLINES AND FORECASTS. NO REVENUES. SORRY BUT UNTIL THEY HAVE SOMEONE PAYING THEM MONEY FOR A PRODUCT THAT IS LONG OVERDUE, THEY ARE IN BAD SHAPE.
Money talks. Resumes mean nothing, PPM's make money if it is over .20 , share structure has doubled since the announcement of the January launch. Right around the corner means nothing when a company has been claiming that as long as they have. Find me something that the CEO has said that actually came true.
easily done when you have no buyers. They could pull several people off the sidelines if they had revenue. Notice how they never put up a link to this months bigbizshow interview. no one was able to find it. Something very bad is going on.
no bid support at all. CDEL will drop their bid and pick up the .33 by the end of the day. The news was not good enough to bring on a stream of buyers. If they don't sell a product soon, people that jumped in at .10 will start getting out at .20 just to save their profits. Management really messed up big time. All this hype and it was nothing but lies the entire time. They have no deals with dispensaries, they have no product ready for the shelves, they have no revenues and no signs of revenues. This is really bad. PPM's will sell at rock bottom prices and the shorts will enjoy the ride down.
Posting reality. CDEL is on the bid and the ask waiting to see if someone will fill the spread. They will take it back down before the market close. Because this is obviously their only big news for the month, next up is a weak 10K. They need to follow through with something...anything.
Level2 roughly 17,000 shares on the bid over .30, pretty weak
Flip it, who cares
No products for sale = $0 revenues. If management had stuck their their promise of being in 50 top end dispensaries at this time, the stock would be at $1.50
Here's the podcast when The CEO stated " we have 100,000 bottles in a boat from China and 42,000 packages for a launch in early early MARCH" SO WHERE IS THE PRODUCT? ANOTHER LIE FROM THE CEO. Just go to 3 min and 30 sec into the podcast
https://podcasts.apple.com/us/podcast/resonate-blends-inc/id1193668018?i=1000506685652
Here's the podcast when The CEO stated " we have 100,000 bottles in a boat from China and 42,000 packages for a launch in early early MARCH" SO WHERE IS THE PRODUCT? ANOTHER LIE FROM THE CEO. Just go to 3 min and 30 sec into the podcast
https://podcasts.apple.com/us/podcast/resonate-blends-inc/id1193668018?i=1000506685652
You are correct, the buy and hold shareholders should be complaining because management has continuously missed their launch dates which has allowed flippers to use this as their personal ATM machine while the holders shares have been diluted because they had to start selling shares to make a living because they had no revenues from products they promised they shareholders they would be selling by this time.
Fully reporting has nothing to do with revenues. They have had 0 revenues from product sales for the last year and they are fully reporting. As the CEO stated, by now they were supposed to have product in 50 top end dispensaries in California. It was his words back in OCTOBER of last year.
https://vimeo.com/467405886
They wouldn't be doing this if the company had revenues which DRAWS MORE BUYERS
I think so. Looking at the volume vs the float over the past month, we are getting close to 30% of the float being over .30. There are still several that can do profit taking, but the buyers are not going to sell at a loss with a stock this volatile.
I did, I have always been open about my flipping. I don't care if I have 1 share, when management misses the mark, you call them out.
Rule number 1, you always complain when management misses their forecast. When I was working, if I missed a deadline I was fired.
Statement from CEO Geoffrey Selzer on the BigBizShow OCTOBER 12 2020 "We will be going online in the next 2 1/2 months. In the next 4-6 months, we will be in the 50 top end dispensaries in the state of California".
So, they lied in October, about the initial launch of the 6 products in JANUARY. ANNNNNND they lied about being in the top end dispensaries. See for yourself:
https://vimeo.com/467405886
Geoffrey Selzer said on the BigBizShow interview that they had 140,000 units being shipped for sale. WHERE ARE THEY?
This is the facility that will be making their Cordials. The facility in Breaking Bad looks more impressive:
https://www.gmhbuild.com/projects/qvi-new-cannabis-edibles-facility
This will never be a $1 stock. The shareholders have been had.
QVI or "The Galley" is another spec company. FinCanna Capital does not even bring in $100k per year. So, their revenues are based off another company on life support. This is probably the worst press release I have seen from them.
The video clearly states that they were working on the cordials and last year was the launch. They said moved it to January 2021, then end of 1st quarter, now they still have nothing to sell.
That is as meaningless statement. All it says is who will be making the product. When will the product be in someones hand in exchange for revenue.
The news release tells us nothing about revenues. They said they had over 140,000 units being shipped. Where are they? If this big launch is nothing but an announcement of the group making the product this stock is doomed. HOW ABOUT TELLING US WHEN THE PRODUCT WILL GET IN THE CONSUMERS HAND AND YOU RECEIVE MONEY FOR IT!!!!!!!!!
This is the video where the CEO stated LAST YEAR January 30th, that the product launch would be 2nd quarter last year and another product later in 2020.
https://vimeo.com/388397905
Then they moved the date to January 2021 and then they pushed it again to the end of 1st quarter. Well, if they don't announce anything today or tomorrow, chalk it up to another failure of what Geoff quoted as a "bad a$$" management team. Even if they do launch today or tomorrow, it is so late in the quarter, any future announcements are really meaningless.
LOL okay well so to get you up to speed, I am criticized every time I have an issue. Generally, I am correct. I always back up what I say with my actions. So, you have to be careful with what people say because most of the time they are buy and hold. As we know in pennyland, that is not the best strategy. Yes I am humble, but I back up what I say with actions unlike most others on this board, especially the ones that attack me nonstop.
Penny stocks are 10% of my portfolio. I have mentioned that before. As I mention, everyone talks and shows nothing to back it up. I am transparent and have always been transparent. I have had some nice runners on the NYSE and NASDAQ. Everyone knows I do options as well, mainly bullish call spreads. Of all the chat groups I belong to, this is the only one I have seen where people are buying and holding. The worst thing you can do, especially with KOAN and PVSP.
LOL I have out traded everyone on this because I am the only one transparent on my trades. I bought in the low .60, .50 and .40's. I didn't grab the .30 but as I have always said I buy low and sell high. I have never bought at the lowest and sold at the highest. NO ONE ELSE ON THIS BOARD HAD DONE THAT. Everyone is buy and hold and letting their investment dilute due to the increase in O/S. Again, if they had launched their product, this dip would not have happened. I am expecting an announcement at 11:59 pm on March 31 with the way they have been operating. I will see how the launch goes and probably put this to bed between $1-$2. This is not a team of winners. There are several more companies that have more potential that will outrun KOAN
I have to admit, even I didn't think it was going to take this much of a hit. Management is really going to feel the heat now. They had better have something amazing next week or this will easily drop another 30%. In my opinion, if they don't announce something on Monday before the market opens, this is going to tank.
Even though I am a flipper, I don't like to see CDEL. I hate those MFer's but I know what to do when I see them like this.
They have been consistently on the ask at 10% lower than the next highest asking price on Level2. Yes they are shorting.
My comment is if Management does not announce something VERY special next week, CDEL will have this price down to .20. I will be interested to know what the buy and hold shareholders will think of management at that point.
No, the buy and hold people got screwed. We all know who they are.
What I am saying is they pumped it to make it look good and bring the PPM's in.
5 MM's selling for under .50. This tells us what they think of the launch next week...if it is not delayed. I guess those PPM's are now realizing they were part of a pump n dump. I find it interesting how fast this fell after the PPM's were closed.
https://vimeo.com/388397905
Here it is, this is why you question management that does not follow through
Maybe you should rewatch the CEO interview last year
https://vimeo.com/388397905