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Thanks!
Certainly what I’ve been hoping for... Like I said before I was hoping over two years ago it would be steep hill but Kaycha would be perfect! Where’s THCM...? Radio silent since he’s meeting maybe it’s the NDA? Been so busy at work thought I may have missed it - just curious how his meeting went?
Thx
One more thing, THCM did they ask if you were an Evio shareholder prior to signing the NDA? I’m also S Fla and thinking of approaching Kaycha?
My favorite part of today’s “update” -
“ The Company has been required to complete external audits on all acquired entities as well as the accounting of each of those acquired companies. These mandatory audits have added significant time delays to the issuance of our financial results.”
How do you not know these financials backwards and forwards prior to purchasing each lab? Completely agree it’s beyond incompetence bordering on criminal negligence. Anybody care to enlighten me on prospects to replace the jockeys - long overdue...
Don’t get me wrong I’m extremely frustrated as most are here. Corporate needs to get their shit together and hopefully that’s happening but with no proof everyday it gets tougher to hang around. I hope there are some discussions happening in the background about a merger - could be great for both sides and provide a significant upside for the private shareholders of Kaycha as a way to go public and cash out some of their wins. Problem is back in the day I hoped something like that would happen with the likes of Steep Hill and here we are over two years later and more in the dark than ever (not gonna rehash all the problems everyone’s already aware of). Just bet on the worst horse of the bunch - just hoping it has some closing speed and doesn’t get taken out behind the barn and put out of its misery...
This definitely doesn’t change... and looks to me as if Chris’s post was explicitly written that way.
On May 20, 2019, EVIO Inc. (the “Company”) entered into a Note Purchase Agreement with Kaycha Colorado LLC (“Kaycha CO”) to sell the existing Phytatech CO, LLC Promissory Note (“Note’). Whereas Kaycha CO would purchase the Note for face value of $1,300,000. Payment of the purchase price included (1) a down payment from Kaycha CO in the amount of $550,000 (2) cancellation of $200,000 in short term loans provided by Kaycha CO, and (3) a Purchase note for the remaining balance to be paid upon providing release of all security agreements and encumbrances.
b) On May 20, 2019 (“effective date”), EVIO, Inc. (the “Company’) amended the Intellectual Property License Agreement with Kaycha Holdings, LLC (“Kaycha”) to extend the agreement from five years to ten years from the effective date and expand the agreements territories to include Florida, Colorado, New York and Arizona. The amended Intellectual Property Agreement includes a minimum monthly license fee of $7,500 per month per active territory or 3% of gross revenues whichever is greater. Kaycha is required to commence operations in New York within 18 months of the effective date and Arizona by August 1, 2022, otherwise those territories will be excluded from the agreement.
Dead money for at least 6 months and sitting on over 200k. Not happy we deserve an explanation. When’s the conference call or the shareholders meeting...? Looking forward to the new tar value...
Please correct me if I’m off on this but I think it’s hard to figure out what this means in terms of dilution without knowing more details about the convertibles. If fully convertible the 3 million at 8% could alone convert into 5.4 million (and that’s without compounding the interest). The warrants could result in another 1.119 million (750,000 conv warrants and 369,000 broker warrants) for a total of just over 6.5 million shares in 3 years. That’s all if my quick math is correct. Would be great if it was partial or interest only but I doubt it. Hopefully revenues will ramp up quickly within the next 24-36 months to payoff some of the debt before it has a chance to convert. Better put this money to work and fast! It’s all in the revenues and cash flows. Here’s to hoping October’s numbers continued to strengthen and growth continues enough to support it.
EVIO Inc. Announces Private Placement of Up to US $3,000,000 in Convertible Debentures
Sometimes it's better to be wrong!
So everyone seems to be focused on this... “Currently our full team of scientists, lab technicians and customer service members across the country are gearing up for the rush of the fall harvest season; while our leadership team is now in a place to consider capital partnerships with investors who share EVIO’s long-term vision of global opportunity. Beyond our 2018 deployment of analytical cannabis laboratories in California, EVIO is leveraging its treasure chest of knowledge that we have built from performing over 50,000 tests in the past two years, EVIO is exploring cannabis plant science and genetic research opportunities, and considering opportunities in legal cannabis marketplaces around the world.
But I'm hoping (and let me make it clear that this total speculation...) that at least part of the 79 million remaining AS and the title of the PR "EVIO Labs Prepared to Fund California Cannabis Laboratory Expansion" are clues (much like the twitter tour a few months back) of a potential large acquisition in CA... dinner anyone?
Here's to hoping I'm not wrong this time!
None of the shares are immune to the split. While I'm no means an expert on this topic, I believe the current limited reduction of the AS from 3 billion to 1 billion is limited because of the way the convertible notes are accounted for in the financials (essentially a derivative liability). Would appreciate it if anyone else with a better handle on the accounting behind these notes could chime in.
The most comforting thing to me from the CC was explained in clear and plain English - WW, Lori and the rest of the directors and preferred shareholders are in the exact same boat as we are and that means they want to put and end to these notes as much if not more than we do... (in fact they have 389,500,000 reasons why they want to limited further dilution or 3,895,000 reason post 1/100 r/s... that can't be very pleasant when they say it out loud).
Only time will tell how true to their word will play out... but I like it that our interests align and I am hopeful (more like highly speculating or whishfully thinking...) that any residual overhang in the AS would be for a very strategic alignment with a large private entity such as steep hills, which could completely change this for everyone involved. Here's to hoping I'm right this time!
Happy I was wrong... on both counts
We'll kind of...
So Q's not great but not horrible. Not happy that the last 21million shares converted between 0.0069-0.0076 (for the notes originally due on the 26th) per share but at least they converted prior to this week and are no longer an overhang, without any obvious signs of collusion.
Still a little worried this recent downward pressure could be note holder 3 trying to get a better price for the 51k left on their note, which had previously on been partially converted. Next Q should tell that story but if it were me I'd want to convert before the r/s.
Hopefully the next notes will be paid and not allowed to convert but only time will tell - at least we have some time! Optimistically hoping and looking forward to the first paid off and non-converted note being the March 2018 one!
Does no one think this is related to the note holder conversion on the 26th? The cheaper they get it the cheaper the conversion. Just hoping the delay in reporting isn't collusion between the company and the note holder to the detriment of everyone else. It could also be the company delaying suboptimal results as to not aid the note holder in gaining cheaper shares. Kinda hoping I'm wrong on both counts...
Did u actually read the Form 4?
Explanation of Responses:
Remarks:
The error in reporting was the mathematical mistake of the filing person with the Power of Attorney who mistakenly misread the subscription agreement which stated 10 million shares at .01 per share, and showed the verified payment of $100,0000 for the purchase of the common stock. The total number of shares beneficially owned by the reporting person following the acquisition has been properly corrected as well.
http://archive.fast-edgar.com//20150212/ABKZB22CZ222S2Z2222S22ZJV9EFZU223572/
Anyone notice that they amended their last quarterly statement today to reflect $136,631 in cash? The more interesting part is...
"In the third quarter of 2012, Baltia took steps to open an office in Ypsilanti, Michigan, where the company’s crew members plan to conduct their training with Kalitta Air."
If Kalitta doesn't step up to the plate to try and save the value of the shares they received in return for services this ship is sunk. That's the only way I see them getting out of this mess with the DOT. Here's hoping...