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I think you are right. C'mon power hour lets see 15%+
Totally agree. I'm glad that the pps isn't as receptive to it all as some of us holders. I only get paid every 2 weeks and need more of this before they open their clinic or next store.
Marketing a soft opening would defeat the purpose of it being a "soft" opening. Give it time. If they start building the clinics like they claim, Their Dr's I'm sure will be passing out fliers with discounts to their stores. Just the fact they opened a store is huge. Just like the saying goes "Rome wasn't built in a day!"
You have to remember that they are dealing 100% on the medicinal side. So Im sure many of the other places you've seen do not, and regardless either way Im sure if other places are using pics of customers they got permission. Easier to not have to mess with that.
Awesome. PPS should get a huge lift from this.
I can think of a few reasons. 1. It was a soft opening. 2 It would violate peoples privacy. Why look for a reason to be sued or shutdown?
I do not believe it. It also goes on to say...
On March 10, 2017, the Company executed a Board of Directors Service Agreement with Wayne Anderson. Under the terms of the Agreement, commencing April 1, 2017 the Company is to pay Mr. Anderson $10,000 per quarter for which Mr. Anderson serves on the Board of Directors. In addition to cash compensation, the Company is to issue Mr. Anderson 10,000 shares of its common stock for each quarter served. For the twelve months ended December 31, 2017, the Company expensed $37,500 (including $7,500 stock based) under the Agreement, which is included in “Accounts Payable and Accrued Expenses” in the Consolidated Balance Sheet at December 31, 2017.
Looks like he got $30,000 cash and $7500 in stock to me so far.
https://www.sec.gov/Archives/edgar/data/1695473/000149315218005307/form10-k.htm
I read through it pretty fast so if ya want all the details you should read it yourself. But in short about the website being down, it seems there was a dispute with an online vendor over the products the store was carrying. 10k claims they have found another vendor but that they are still working out all the specifics of their agreement with the new vendor. Says the website is to be redesigned. My guess is it will remain down at least until they work out an agreement with the new vendor. Who knows if they really have a new vendor or not though. The actual workings of the company seem non-existent, or extremely slow at best.
Yea, the problem with that is that none of them are ever profitable to anyone except Wayne.
I would not count on that. But of course Wayne is content. He keeps getting paid. If his salary was shares only, and based off performance. I bet we would see a major difference in the way things are done. With him making his own contracts, that guarantee cash and shares. Even if the shares are never worth anything he is still making good $.
The 10k explains the store being down.
IMO the store is irrelevant. I think just in the short time it has been open, anyone can see it's not ever going to be the next big thing. He can change vendors, redesign the website etc etc. it won't matter. There's too much competition online, and the market is not as large as it would be in an actual brick and mortar store. The online store is never going to make enough money to even pay Wayne's salary. The company threw a lot of their eggs into the basket of the store. They need to let the store go and redesign their business model.
Right. There has been so many Pr's dropped by Wayne that say "we plan to update shareholders within the next few weeks" Then we never get updates. Just like DD on GCC possible acquisitions, OR what about the E2 merger? When we see the quote I mentioned, shareholders never get follow ups. Only updates that seem to follow is regarding toxic lending so he can keep paying himself.
Not true. They have products already selling in other dispensaries. And, ya think they won't continue to work with all the clients Bottle It Inc. already has? There's many companies trying their hand in the industry with a ton more shares, and a lot less going for them.
Wonder what happened in court with this today???
Prob be 9 months + before this gets a bid again. If ever.
In 20 years most these companies will be bankrupt with the way they are currently being handled.
Lending $ to any company with flop in it's name is questionable. Even if the note is paid it's still only 10% of what they need to raise to remain operational through the first 3 quarters of the year. This is going to be extremely diluted before it ever finds a market...
“The Company’s three wholly owned subsidiaries; Bud Bank, Inc., GCC Superstore, LLC and GCC Investment Holdings, LLC:”
What is their investments holdings??? Hopefully they are investing in some better ideas than bud bank machines and failing superstores. Cigarette vending machines went out in the late 80’s and the .com boom for failing websites reached its peak in the early 00’s. Very disappointed.
Did anyone get anything good from the GCC 10k? I read through it quickly. I see the website is down cause their trying to find someone else to run the day to day for it. Wonder what happened to their DD on acquiring something else. Seems like that was bs since they seemingly don’t want to “touch the plant” seem to be struggling to pay their employees and for the filings. IMO only hope they have is to turn UNGS’s unused oil claims into hemp fields. That idea would actually make money though so doubt anything like that ever happens here.
The day it opens will be the last day this sits below .25 When they do officially open this is going to run strong. I’ve been on the sidelines of this for a few years and have been acquiring all I can the last few weeks. Thought last year when it ran I may have missed the bus. But it came back down. They have a report saying they believe 2018 could be the first year they run a positive revenue. If that’s going to happen they must start getting these stores open. My guess is the stores will delay and 2019 will be their first good year. For my acquiring purposes, I kind of hope they don’t open tomorrow.
Google it or look it up on their icanabanoid website. Place looks pretty legit. Marble flooring with the brick and fresh paint all around. Place is going to be booming with the comfortable atmosphere they created in it.
I'm guessing the court case may delay the opening. But it really will not matter. If they win their court case that will be enough news to give this a push. Website says the opening is still on for tomorrow. The build out of the place looks beautiful. Really won't matter if they open tomorrow or not. IMO the opening will for sure happen. Not a matter of if, but when. Whenever they choose to open, the customers will come.
I agree. I am stacking up on this periodically as I get paid. I believe they will eventually get their dispensary open. when they do, this takes off.
No volume, No bid, No news, No end to the downward spiral in sight.
No where to go but up with all the support this has at this level.
The bottling company has had decent revenue for the past 2 years. I suspect that revenue will continue. Also by owning this it will save them cash on packaging any of their own products. This was a huge acquisition for them. If they can make progress in their case against the county, and they do get that pharmacy opened this could explode.
I bought shares of this last week with Etrade.
Not according to the S-1 you said you read. It says in there when discussing the shares that have already been sold that they will have a 2nd offering. Maybe it will be the public offering? I guess time will tell on that. I just got off a phone call with a broker who works for Edward Jones. They told me no IPO has happened yet either, and they told me due to rules pertaining to OTC and the lack of transparency that many of these companies have that they could not provide any information on when or if there ever would be an IPO for GCAN. They as well though did tell me that just because an S-1 has been deemed effective, it does not mean an IPO has occurred.
Also if you read the S-1 when it discusses the sales of shares it has made it describes them as initial offerings, not initial public offerings. Now if E-trade misinformed me, that may be so. But since I spoke with them and waited an extensively long period of time for the rep I was speaking with to confirm with their corporate actions team that no IPO has yet happened. (Which their corporate actions team says they can confirm no IPO for the greater cannabis company has happened yet). Until I see some form of proof contrary to what they said, I am going to have to believe what they told me.
According to E-trade, no IPO with this company has happened yet. I wasted about a half hour discussing the issue with them. They told me that just because the S-1 was deemed effective it does not mean that an IPO has taken place. Also I asked them if the sales of shares the company has made up til now to lenders would qualify as an IPO. They told me it does not and told me that as far as they can tell all sales of shares by the company have been private. They as well informed me that no IPO could or would occur until the shares were readily made available to the public, and in order to do so there would have to be a market established. So??? Maybe you are smarter than E-trade. But I'm certainly not following your ideologies or claims that the IPO has already happened. Not trying to put ya down just want truth and factual evidence to back it up.
They may have been approved to be sold but with no market it will be very difficult to find a buyer for the shares, and also if they shares are 100% free trading like you say why in everyones account are the shares still listed as Greater Canabis Co. (The restricted) having that tag on them even if a person finds a buyer, I doubt many brokers are going to mess with them.
IMO this won’t ever IPO. Or at minimal it is not ever going to IPO until there’s more going for it than their failing website that they can’t even afford to keep operational. Wayne could probably get an IPO going for this pretty easily with all the efforts he’s made up to this point. The issue and delay sit with Wayne and the fact that he knows that unless he figures something else out for the company, doing an IPO will only tank the pps which will make it harder to work with toxic lenders to get financing to do anything. No option at this point but to wait and see what Wayne can cook up to give it a fair shot at doing a real IPO
Wayne has to get a MM to establish a market with FINRA. No point in doing so when the only asset costs more to operate than the revenue it brings in. Having an IPO for this currently would be worthless as even if Wayne paid a MM to go through the process of doing an IPO at the suggested .25 price the shares would be to .0001 in less than a day as markets eat up companies that have nothing going for them.
Any sale of shares by the company has only been executed by the company and the selected toxic lenders. If was an IPO anyone could have bought those shares, and could now buy shares from the established market. With no market being established and all sales being done privately the company has yet to go public or have an official IPO. Just because they have sold shares privately does not mean an IPO has happened. The offerings put forth up til now and probably any that occur in the foreseeable future have and probably will be private. Just because they have private offerings does not mean they’ve IPO’d.
For the shares to be free trading there has to be a market established. Otherwise the only option for trading is private. Looks like all sales made by the company were done to venture capitalist privately with no market. If anyone wants to trade their shares they have to do it privately. If there was an official IPO the shares could be traded freely on a market to the public. They can’t be. The only option for trading them is privately as the company has not ever gone public or according to investopedia had what is known as an IPO.
If it was a sale to the public it would have had to have had gone through and been regulated by a market. No sales have done this. Any sales of shares made at this time has been 100% private. Therefore no IPO has happened.
It's not an IPO at all. Here is an excerpt from investopedia on what an IPO is...
"An initial public offering, or IPO, is the very first sale of stock issued by a company to the public. Prior to an IPO the company is considered private, with a relatively small number of shareholders made up primarily of early investors (such as the founders, their families and friends) and professional investors (such as venture capitalists or angel investors). The public, on the other hand, consists of everybody else – any individual or institutional investor who wasn’t involved in the early days of the company and who is interested in buying shares of the company. Until a company’s stock is offered for sale to the public, the public is unable to invest in it. You can potentially approach the owners of a private company about investing, but they're not obligated to sell you anything. Public companies, on the other hand, have sold at least a portion of their shares to the public to be traded on a stock exchange. This is why an IPO is also referred to as "going public."
Seems like the company is private to me. No market established, although there has been private offerings. But as of today and probably many more days to come, no shares at all have been made available to the public ever.
If serious about wanting to off them you should contact those toxic lenders. To them they may be worth that. To me they are only worth .0001 Even buying them at that is a sketchy huge gamble, as the S1 directly states there may never be a market for them.
If somehow we could get broker approval to transfer the shares, I would be willing to snatch them up at .0001 =)