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I hope you are right but I mean by now if they made that mistake they should have corrected it with a PR. You can actually go back in and edit a PR after its posted. It shows up with "correction" in the headline. I just have a hard time believing they wouldn't want to correct that big of a mistake.
As for the shares coming back I sure hope that is the case but my bet is they bought it with shares and sell it for cash. It's what they do with the cash that will be the biggest question.
But hopefully they do it your way. Shares coming back are always great
The good part of the news is we will get the quarterly soon. I am behind this stock but here is what I think we will learn:
The CEO tried to manipulate the PPS and tried to dupe investors with the PR about the float reduction. I believe you will see new shares issued which he didn't want to mention but yet wanted to mention a "reduction". That is manipulation plain and simple.
It certainly will not allow me to trust him moving forward but it does sound promising that they are ahead of schedule on the drink and that he is at least listening to what we have to say. That is more than many "CEO's" on the OTC. I still believe he duped investors about the float but depending on how much he has issued that can be overcome.
However, playing the conspiracy theorist, wouldn't it be a smart move if you were wanting to be shady to put out a PR talking about reducing the float, therefore driving up the PPS and then have a whole bunch of shares waiting in the wings the next few weeks to sell off?
Yeah that is my issue with it. We aren't trading like what he has claimed to be true. So either he is lying or he made a mistake and needs to correct it. Take your pick but transparancy should be easy.
Just tell us what exactly happened. You reduced 30 million float a month ago and I haven't seen anything from the transfer agent (Action) stating that this happened or is true.
Nor are we trading like it. I certainly don't expect the CEO to put out a press release because I am asking for one. I am stating my opinions about what a CEO should do and what I think the CEO of a major company would do.
At this point, in light of the fact that he made this claim a month ago about the float he needs to explain the situation.
Lol....Yeah we are all gamblers if we are playing down here no doubt. I hope you are right and it goes up soon!
Not mad at all.
CEO's should be transparent about shares structure. He most certainly didn't mind sharing info about 30 million being retired. Why not about what the actual share structure is?
No when I say the company is dumping shares I mean that they issued a pile of shares to someone who gave them an amount of money for funding. Now that could either be legitmate money for business use or it could have been for personal gains. Who knows.
However, when someone gives $5000 and gets 10 million shares (hypothetical) that puts them at a I don't care where I sell position. They will profit heavily no matter what at this point.
Look. I have a minimal investment in this and could exit now and not take but about a $100 dollar hit. Not too worried about that part.
However, I have watched and watched and watched this company for several years and seen this be the third ownership group. At some point, someone has to have integrity and be honest with these investors on here.
Issuing millions of new shares right behind a PR stating that you are retiring 30 million shares (if that is what is happening) is not honest. And if it isn't what they are doing and they have done nothing with the share count besides submit 30 mil for reduction then they need to state that.
You would never, and I mean never, see a CEO of a reputable company sit back and say nothing when the PPS takes massive tumbles. The CEO ultimately has to keep his investors happy and in the know. This CEO seems to be ok with releasing press releases about warehouses and suppliers but has done nothing to let investors know about financials and shares counts.
That should be unacceptable to any investor here
I truly hope you are right but look at the actual stock sales. Who do you know would watch the stock start rising and take an "all or nothing" sale for a 17 percent loss? Then when there is a "large" bid .0007 below that compared to the ask just sell it without trying to bring the bid up first?
No one is the answer. This is someone who didn't pay anywhere near this PPS for the shares. Which means that someone has acquired shares at a small fraction of what it is trading at and doesn't necessarily care about the PPS.
Show me where they actually reduced it? There is no proof of this. Just what they said in a PR that clearly states at the bottom in the fine print that they can say whatever because it might not be true
Looks to me as if they are pulling some money out of the market before they send out whatever they put out in Sept. Sell now and let the public know what they did later.
This leaves a very serious distrust in my mind now moving forward.
Yep. 500k just dropped 17% to sell. That is not a regular investor. There is no way someone would do that.
You can bet your last dollar there will be a fill of those 517000 on the bid now at .004. And then I would like someone to tell me who would do such a thing
Yet again someone with a pile of shares randomly starts selling off. This management team really needs to put something out. How many new shares have been traded the past two weeks?
That is a good question. It's always the concern in a penny stock like this. If they are doing it for legitimate reasons and not blowing up the float then that is one thing. If they are selling off shares to profit and then planning an RS to bring it back to normal then that is a complete different story.
It's always the concern down here at these levels. Unfortunately a lot of shady and dishonest people play in this arena
No that isn't the case at all. What facts are you talking about?
That's my issue is that there aren't any FACTS. You are twisting my words to try and progress your agenda. Please stop.
Oh I couldn't agree more that this is low volume and that their aren't many eyes on it. However, there are not that many investors who would have chunks of stock like what is being dumped. And even if they did they certainly wouldn't drop .0007 points below the bid and sell.
Until the company makes a point to directly address the share structure situation and report what are facts no one should believe anything other than this is an otc stock in which principals in the company generally manipulate the share structure. It's the only way they can generally afford to pay for anything or profit for themselves.
Maybe KGKG isn't doing that but they certainly need to say it if they aren't. Then show FACTS from the transfer agent about what the share structure is. However, my guess is you won't see that happen.
Yeah it is unfortunate that the company has decided not to be more public about what is going on with the share structure. This is a big disappointment from them. I agree they are apparantly issuing new shares.
The "30 million free trading" shares retired I bet was followed up with a much larger amount issued.
Can someone explain that trade to me?
If they dropped news right now this pps would explode. This thing is a ticking time bomb. I don't expect news and not even sure what they would say but with the standoff on the ask it is just a matter of time. Nobody wants to sell and for good reason
Oh I totally agree. I completely understand why people see the drop last week and lose their minds. I also understand why people are hesitant to buy off the ask. But I mean in the end this .006 and under level is a steal. Really. I have invested all I am willing to for the time being but I can honestly say that I would buy at any of these prices if I were remotely interested. I mean last month this was over .01 and there is no reason to believe that this wont be back there again shortly. There is absolutely nothing that would give anyone any reason to believe that this won't double in price over the next week or two.
Therefore, buying at .0042 or .0044 or .0056 doesn't really matter a ton. Just get your shares while they are available down here. That is my honest opinion. I would rather pay a touch more off the ask than be chasing if something breaks out.
Looks like a slow morning here. Would love to see an updated share count with the 30 million retired shares. Financials would be nice as well but I am assuming those wont be pretty this early in the game. I am always concerned about how a company this size "pays" for things. It is my sole concern with this. I want to know they aren't issuing new shares as payment
I totally get not buying off the ask but people are going to be wishing they could go back and buy these shares in a couple days. Going to regret not getting them while they were available
Again which mm do you work for?
Ok so it's clear you work for a mm. However, what are you hoping for? Shares to be dumped so your firm can buy them up? The fear method? Scare people into selling their shares down here? I mean how many times can you tell us it's dead before you are bored? You obviously have financial reasons to Continue saying the same old thing over and over. If you had no financial stake in the game you certainly wouldn't be this active.
Here's the thing. All stocks have highs and lows. No biggie. However, to be selling this low only means a couple of things in my opinion. Either someone is taking losses right now to get rid of shares or the company has issued cheap shares out to raise capital. Either way they should be addressing these extreme drops when they happen. You wouldn't ever see a legitimate company drop 30% pps without someone from the company reassuring its shareholders. This is exactly why trust is very hard in the Otc. The principles at these companies make it very hard to trust them. It's a $200 PR. Not real hard to do
If we don't have any more dumping I think it's flat. Too many people trying to flip out. Not enough interest at .005 due to lower prices earlier. So stacked ask at .005 and not enough interest. Which is fine as long as their isn't a dump or the flippers don't start lowering their ask inch by inch trying to out do the other flippers
Well the flippers stacked at .005. So dumb but expected. If you just would stagger the ask you would sell them so much quicker but people will never understand. So it will sit like this until the flippers fight over the ask. Dropping their ask each time to sell before the other. So dumb
Slow morning. No signs of any "sell off" as the negatives on this board would suggest. Go $kgkg
I really hope you are right but they certainly need to be more transparent about how they are paying for things like the acquisition or the new celebrity advisor. This either took cash or stock. Either way we don't have any details. It's a fair expectation that we should know. As far as I know, I have seen nothing that says how he raises capital or pays for things. We should know that as stock holders. To be taken seriously long term they will have to do this at some point.
I'm with you. I hope for great things here but they need to be transparent and not ask investors to simply "trust" what they are doing.
Well again, I hope none of these are true. However, when these companies issue new shares to raise capital they often times "sell" the shares for a price that is untouchable like .000001 type prices. That is how the stock is so valuable. It's basically giving it to them but for a price. So let's say they want an influx of cash to buy something. He calls a guy and ask for 5,000 dollars and sells him 500,000,000 shares for that price. Now this is an exaggeration but you get the point. Hence, selling that at .004 or .005 really doesn't matter. It's a win any way you see it. This happens quite a bit. Then the company does a RS to bring the share count back to normal after their guy gets his money out. Rinse and repeat.
This stock has had this happen in its past before even UNQT. It was well documented on this board.
So with a 1.5 million dump of shares just now there are only three scenarios that I believe are possible here:
1. Owners of new shares issued to purchase Elev8 are dumping right now
2. This new "brand ambassador" was issued new shares and is dumping
3. The old CEO who has millions of free trading shares is dumping
Either way, these dumps aren't coming from everyday investors like us. This is a pure dump plain and simple
Oh I don't believe it for one second either. Just a pipe dream. But if it did the pps would skyrocket.
If walmart became a vendor then this stock price will have to go to all time highs. Your looking at .50-1.00 easily.
Im telling you my money is on a particular investor from back in the day trying to get some money back.
Good buys. Keep on climbing back up! $kgkg
I've got a good idea not only who the "30 million" shares came from as well as who is selling shares on the market in chunks like this. I can't be for certain but it makes the most sense that it is someone who has been involved for awhile.
At one point I was the 4th largest shareholder in this ticker and knew who held all of the other 3 positions. After the RS I believe there is only one person who had this much stake to be able to "retire" 30 million shares. It just so happens I still get the occassional call from him suggesting I buy back in. It's my opinion this guy is trying to sell off chunks at a time. Can't be sure and I don't think I would get the truth if I called and asked but it seems pretty likely that it would be the person I am thinking of.
Well that 200k was me at .005. Im now in it with you guys. Hope this goes well.
Does anyone have a Free level 2 site they use?
I hope this gets updated soon because it would certainly help the ticker price if it is truly reduced by 30 million. However, I would like them to give an explanation of how they acquired the hemp company as well. Generally, these things happen by giving shares. I am worried that they issued several million shares (even if they are restricted) to make the acquisition.