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Been here since March of 2013. Have made a bit and still holding some. I can tell you that SKTO usually does what they say they are going to. I can also tell you that even when we get news, rarely does the pps rocket. I think a true test will be if the merger happens, we get our shares and perhaps a new name......then I think you will see movement.....imho
DENVER—Colorado made roughly $2 million (U.S.) in marijuana taxes in January, state revenue officials reported Monday in the world’s first accounting of the recreational pot business.
The tax total reported by the state Department of Revenue indicates $14.02 million worth of recreational pot was sold. The state collected roughly $2.01 million in taxes.
Colorado legalized pot in 2012, but the commercial sale of marijuana didn’t begin until January. Washington state sales begin in coming months.
The pot taxes come from 12.9 per cent sales taxes and 15 per cent excise taxes. Voters approved the pot taxes last year. They declared that the first $40 million of the excise tax must go to school construction; the rest will be spent by state lawmakers.
Colorado has about 160 state-licensed recreational marijuana stores, though local licensing kept some from opening in January. Local governments also have the ability to levy additional pot sales taxes if they wish.
Monday’s tax release intensified lobbying over how Colorado should spend its pot money. Budget-writers expect the nascent marijuana industry to be extremely volatile for several years, making lawmakers nervous about how to spend the windfall.
Budget-writing lawmakers joke that plenty of interests have their hands out to get a piece of the pot windfall.
Gov. John Hickenlooper has already sent the Legislature a detailed $134 million proposal for spending recreational and medical marijuana money, including new spending on anti-drug messaging to kids and more advertising discouraging driving while high.
State police chiefs have asked for more money, too.
“The whole world wants to belly up to this trough,” said Sen. Pat Steadman, a Denver Democrat who serves on Colorado’s budget-writing Joint Budget Committee.
Other countries also are watching Colorado, which has the world’s first fully regulated recreational marijuana market. The Netherlands has legal sales of pot but does not allow growing or distribution. Uruguay’s marijuana program is still under development.
Colorado’s pot revenue picture is further complicated by the state’s unique budget constraints, known as the Taxpayers’ Bill of Rights.
The Bill of Rights not only requires voter approval for tax increases, it limits budget-writers when those taxes earn more than the figure posed to voters. Last year’s pot vote guessed that the taxes would produce $70 million a year, and it’s not clear what lawmakers can do with tax money that exceeds that figure.
Colorado’s JBC plans a Wednesday briefing with lawyers to lay out their options for spending pot taxes beyond $70 million.
“There probably is a tendency to want to just grab on to this revenue from marijuana and feed my own pet projects, and I don’t think it’s going to be that simple,” said Sen. Kent Lambert, R-Colorado Springs and another JBC member.
Colorado’s 2014-15 budget is under debate now and does not include any anticipated recreational marijuana taxes.
Lovecheese45 I have been here since April and you have the bashers and the longs, I am a long. I won't tell you what to do other than do not invest money you can't afford to loose. SKTO does what they say they will, perhaps not as fast as some would like, but do it nonetheless. They have also done more than most penny stocks. This is no different than gambling. Good luck.
SKTO has done more than most penny stocks. No, they are not perfect but they are doing exactly what any new business that is trying to grow should do. This is a positive for any investor. The nay sayers are at least consistent and predictable.
That is great case law.
IHUB is a forum for investors to chat about a certain stock. I am a SKTO shareholder....and though I appreciate that the company has addressed certain issues, it seems they have done so in response to things that have actually been posted here or have been followed up on by people who have posted here. I would have preferred that if the company felt something was slanderous or libel to hold these people to account in the proper jurisdiction. We all know that investing is risky especially pennies. What people say here is on them and quite frankly good or bad, I have conducted my own due diligence and invested. I truly do not care what others think or do, though it is entertaining at time to see what people will say. Good luck to all. SKTO is in my opinion special insofar that we are witnessing something rarely seen from a penny stock. The potential is huge....patience is a virtue. This stock is a long term investment even though it is a penny stock and perhaps for those who want to make a quick buck one should buy something else. Investing to me is long term, flipping is for short term. you must decide how you want to play it.
We have had some big news over the past three weeks and yet we still find ourselves here....I am trying to be patient. I cannot imagine what NEWS we are waiting for. Go SKTO....still holding.
I am in the same boat. Though I temper my disappointment with the potential that this stock has and I am still optomistic. Its just that i will have to hold longer than first thought. My father always told me....never gamble or invest what you cannot afford to lose. Go SKTO
No kidding, holding mine for weeks....lol shares that is
When FINS coming? thought already out.
Patience is a virtue, any thoughts as to possible PPS tomorrow
SKTO is legit, a few more things need to happen including the CE removal IMHO. So far so good. They say patience is a virtue.
**AIM HIGH PROFITS** reports For the two fiscal years ended December 31, 2011 and 2012, SK3 Group reported having $0 Revenues and $0 cash on hand. What the Company did have was plenty of SKTO stock on hand which was used to pay off some old liabilities which were still booked as $598,454.00 as of December 31, 2012, $450,000 of which is to -iEquity.
Note: During the past two years (Fiscal years ended December 31, 2011 and 2012, and to date), SK3 Group has issued a total of 222,059,000 common shares, all as the result of conversions of issued and outstanding convertible promissory notes issued in March 2010 to replace previously existing liabilities of SK3 Group incurred prior to March 2010.
Here’s a bit of History of what SK3 Group has been through to get to this point where Artemus Mayor and the other shareholders can dump SKTO shares onto traders:
From March 2010 through October, 2011, Sk3 Group was engaged in operations in the healthcare markets, operating through several subsidiaries. In late 2011, the Company changed its business model and rescinded all of its healthcare market acquisitions by October, 2011, at which time new management changed the business direction and began developing the business of providing administrative, financial, legal, accounting and similar services to medical marijuana collectives operating in California.
SK3 Group continued this development activity throughout 2012, arranging licenses, contracts and services to be provided in the medical marijuana market.
In March 2013, SK3 Group acquired Medical Greens and its existing business, assets and contracts, in exchange for 5 million shares of Series A Convertible Preferred Stock which carries 51 percent of the total vote of all classes of stock entitled to vote and is convertible at any time after one year from the date of issue into 51 percent of the resulting common stock outstanding. The preferred shares have not yet been issued, but will be issued as soon as the Statement of Rights and Preferences for the shares has been filed in Delaware, which is expected to be by April 30, 2013. At that time, iEquity Corp. will become the controlling shareholder.
In early 2013, the Company announced the first in a series of signed licensing and support agreements with California collectives and established its offices in Miami, Florida as well as the acquisition of Medical Greens, including all existing contracts and right to use trademarks held bu iEquity Corp., now its controlling shareholder.
So there you have it – Marijuana is green and so should be SKTO (cough, cough, cough) even though the hype of legalized marijuana is so cliche in 2013.
SKTO | SK3 Group’s Medical Greens Reports $5M In Q1 ProfitsThe old investment adage “buy on rumor, sell on news” appears to have come full circle now on the penny stock of SK3 Group Inc. (PINK: SKTO). Just minutes before the closing bell on Wednesday, the long-time non-filer with OTC Markets actually filed the financial statements for the years ended December 31, 2011 and 2012. Having run from a mere 0.006 to as high as 0.08 in March off the rumor of having acquired Medical Greens, a licensing, management, and logistic services provider for medical marijuana, SKTO stock could see its shares get one last bump tomorrow with its “website issued” $5 million in profits for Q1, 2013
Interpretation is everything. SKTO is going in the right direction. Way too many positives for this to be a scam.
OF COURSE 2011 2012 is bad, still needed to be filed. 2013 financials is what will send this stock up. Due Diligence on companies part, this is for real. Patience.
Financial Statement
SK3 Group, Inc announces that it has filed its financials and disclosure information with OTC Markets today. SK3 Group, Inc has posted its disclosures for the fiscal years December 2011 and 2012, and expects to file the disclosures for the fiscal period ending March 31, 2013 on Monday, April 22, 2013, including its subsidiary, Medical Greens. SK3 Group is also in the process of starting the audit process for the years 2011 and 2012.
SKTO is a good stock with great potential and I have invested. It is important to know that the Feds will have to do something, whether that means pass a bill, make an amendment which will allow States to govern this market how they see fit, otherwise, the Feds will still make this difficult. I am a Canadian and it is very similar up here. Even if a province decriminalized or legalized it, which they have not, the Federal government would then have to make new law or amend the old. MMJ is a gold mine and everyone knows it. Will you invest in the future? I am and I don't even smoke the stuff...lol
CNBC had great 1 hour program on this industry and I can tell you eveything is pointing to this becoming lawful in every state. The taxes generated from making this legit is just to great. SKTO is one of many but with this management team SKTO has better chance at success. IMHO
I had checked his LinkedIn page last week simply trying to confirm certain information. It is definitely a step in the right direction when you see information being updated. Well Done!
There are some things I have noticed that are of concern, however, with that said, I have checked different sites and though nothing is concrete, Kevin Allyn has an updated LinkedIN and Facebook profile indicating he is in fact SK3 CEO.....take it for what its worth
Reasondeep...i would be considered a noob and though I do not necessarily understand all the technical talk, I do understand the general concepts and your video was very helpful. TY
have been trying to buy for last 38 minutes now, cant get order filled and im above asking
Having hard time getting my order filled, anyone else, over six minutes now
I want to see some PR...financials etc.....then we will see this thing shoot...until then....
tried to dump 50k.....they didnt go
Alot of people mention news and releases of which i see no evidence of this forthcoming other than financials TO BE released not when exactly....just saying