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They paid over 10x less than 2 years ago for what they sold... what a write down. Was probably the best part of the business too. If they dilute again then take it private... lawls.
They paid over 10x less than 2 years ago for what they sold... what a write down. Was probably the best part of the business too. If they dilute again then take it private... lawls.
Operating loss for the third quarter of 2023 was $71.5 million, compared to $15.3 million in the prior year period, reflecting the approximately $59 million in non-cash restructuring, impairment and goodwill charges incurred in the third quarter of 2023.
In light of the ongoing strategic alternatives process, as previously disclosed, 22nd Century Group, Inc. will not be holding a conference call event in conjunction with its third-quarter results report. The Company will offer additional updates as needed during the course of this ongoing process.
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Dead company?
Hahaha... they are voting to double the max shares again... scammers.
What a fn disaster. Wow. Just wow.
Was feeling real good with my $2.40ish purchase last week. What a rollcoaster of mis-mangement.
Over 100% outstanding shares traded today... what in the world.
There she goes... wonder how high before a huge dip again. Wonder who is buying...
Funny how this 'huge' day today is the smallest thing on a daily chart over the last .... forever. It feels ... good(?) though.
Doubled position at $2.38 area when looked like it might be rounding... overall now I am only down like 75%... !! Haha.
At $2.42 the fully diluted market cap is $80.66M. Less than 80% forward guidance on revenue.
If the question is fail or not fail and you think the company can't survive one more year before being cash flow positive, or doesn't meet that goal... then yea, it is a fail.
I think they will survive, personally, however will continue to have to dilute shareholders until then. Thats why I look at fully diluted MC.
Risky investment at this point though. See where it settles.
I guess if you believe they can pull it off until cash flow positive, just use fully diluted numbers... 33.3M share authorised so fully diluted MC is 94M at $2.80 share price, roughly. So trading at under 1x forward revenue, fully diluted.
I don't think it is a scam. They have poor cash management and are losing money hand over fist. Revenue forecasted at $105-110M this year, market cap around $47M right now. They will likely keep diluting holders until middle of next year when they think they will be cashflow positive.
There it is already. More dilution, haha. Took less than 24hrs.
You are right, wasn't thinking that Q2 just ended and probably in a blackout period until earnings. F.
I picked up half bag here, will wait longer to see reversal for rest. Great potential entry for long term hold IMO. Pretty much 3/5 projected 2023 revenue. If they do turn cash flow positive in mid 2024... great stuff. Very well could drop further. I assume (maybe hope) we get some insider buys here.
Wonder how low she will go. Market cap right now (non-fully diluted ((which we probably will be in 6 months)) is around 1/2 yearly revenue.
If you believe in TA, chart shows $.17 is possible. Might capitulate there. I don't see the company failing but, going to be painful raising funds.
I want to optimistic about the revenue numbers growth tomorrow, but after last call I find that to be hard. If there wasn't significant growth in Q1, I am worried for the first time.
Remember 2 years ago around this time when we were trading near 1000% higher... yea... ??
Was supposed to be thumbs up not '??'
Thanks for that. ??
Did Mish sell 280k shares between the 19th and 21st at $0.87?
That is some bullsh*t. How many times in the last year did they say this wasn't going to be needed.
I remember when he went 'Maverick' at that conference in November (I believe) he said it wasn't required, also CBD/Hemp cash flow positive in Q2 this year, not next ... AND ... he said he was going to be buying shares after Q3 earnings blackout.
Looks like going 'Maverick' was code for bullshit and misinformation.
QoQ tobacco revenue actually fell? .. :(
Read the whole PR and a lot of positives moving forward but.. was just expecting more in the revenue numbers. Overall just disappointed with that. The fire really set them back, I think. Looks promising if they hit in the future as they state in the PR.
Hope the CC is good.
Not the numbers I wanted to see, pretty disappointing. I could have swore it was said the hemp/cbd would be profitable and self funded by Q1/2 this year, not next.
Ooooooof.
Between this earnings and Q1 I think we will learn a lot with what to expect for 'rapid growth', particularly Q1's. Exciting times potentially.
Looking for what this 1% market share in the 2 test markets equates too, or actually looks like, ad well as the GVB growth in CBD.
Absolutely phenomenal. Loved it. Good on him for coming out like that.
I've seen this story play out before with another 'promising' tech company with reputable leadership. I wasted 3 years on those projections and false run rates watching share price drop lower and lower. Not this time luckily. Lived and learned. Dumped this end of last year. Was hoping to see something positive by now to find a bottom but just seems like more and more of the same BS.
Same story with these guys. Do you think this is incompetent leadership or it's actually not as good of tech as they lead people to believe? Trash, trash, trash.
Yea same, tried on 2 devices as well. What a sh*tshow this has turned out to be.
CEO has 20k more shares. That's something.
mCloud and Fidus Global Bring AssetCare™ to State of Arkansas Government Buildings
06/15/2021
First building occupied by the State of Arkansas set to deploy AssetCare HVAC and Indoor Air Quality solutions as both companies target millions of square feet of government-occupied space state-wide
CALGARY, AB, June 15, 2021 /CNW/ - mCloud Technologies Corp. (TSXV: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading provider of AI-powered asset management and ESG solutions today announced it is connecting the first building in a portfolio of buildings operated by the State of Arkansas in partnership with Fidus Global, LLC ("Fidus Global") as both companies continue to target customers in the southeastern United States including Arkansas and Florida. mCloud previously announced it had partnered with Fidus Global to target an initial 5,000 buildings across the country on February 16, 2021.
A first building occupied by the State of Arkansas has adopted mCloud's AssetCare connected building solutions for HVAC and Indoor Air Quality as the state seeks to improve indoor air safety across government properties, including office buildings, schools, and other state-run facilities in the wake of COVID-19. The first of these state-operated buildings is expected to be connected and online in July as mCloud and Fidus Global plan to continue working with the State of Arkansas to connect millions of square feet across numerous properties occupied and managed by the state government.
"AssetCare uniquely offers the State of Arkansas a compelling building solution that simultaneously optimizes both indoor air quality and energy efficiency in one single package," said Dr. Patrick O'Neill, mCloud's President, Connected Buildings. "Our partnership with Fidus Global has brought mCloud to the table in safety-conscious states like Arkansas and Florida where we expect our ability to drive energy savings, reduce carbon footprint, and improve indoor air quality will be a powerful value proposition and major differentiator that will attract customers operating large multi-site portfolios nationwide."
"We are eager to get started on our first of what we expect to be many government-operated properties here in Arkansas," said Aarron Hale, President of Fidus Global. "The state government intends to have the best indoor air quality in the country through the deployment of advanced technologies including AssetCare."
Fidus Global is currently working with all levels of government within Arkansas to address indoor air quality challenges across the state in partnership with mCloud. Both companies continue to target national retail buildings across the country as originally announced with the first AssetCare building connections from these efforts expected to go live in the fall of this year.
That's great.
The 'campfire' chat this morning was great. If you didn't listen to it I suggest that you do. It should be on the website soon.
Mish said he was sending a shareholder letter today, did anyone receive it?
That is because everything got exercised. The sheet is clean.
As for earnings and revenue numbers, bringing that up as the primary bear argument shows how little the people who mentioned it have researched the actual company.
Sorry but I am missing something. What happened that you saw and got redacted and what is your interpretation of it?
Too be fair, no one else that I notice posts daily about timing a trade perfectly. However to be fair (again) the opens have been predictable for trading.
I am long, and I am not. Need to hear from the company how this effects the MRTP application, if it needs to be amended, and also need to hear more on a VLN ANPRM. Less both of those, I will not add until another aspect of the business picks up.
Edit: After the run to $6 I did expect it to revisit $4, maybe some trading shares there. My long term is locked in.
I wonder if the announcement this morning actually has a major impact on the likelihood of MRTP approval in the near term. Does it now need to be modified to exclude VLN Menthol King? Does this possibly add additional months to the approval?
$14.3M cash equiv on 20 April. If they are going to meet the 70K assets by mid-year and if that covers expenses, may it finally be over...