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Referring the Acreage deal:
"The game has changed again," said Linton. "This gives us a global platform with all key markets and still a lot of cash in the bank to do a lot more."
Also:
He added that he's approached six other U.S. cannabis companies for a similar transaction and talks are advancing with half of them.
https://www.bnnbloomberg.ca/canopy-to-acquire-acreage-in-us-3-4b-deal-gaining-major-u-s-footprint-1.1246560
Citron out with bullish report: https://twitter.com/citronresearch/status/1075092339536740353?s=21
Dope!
"Unless we are repealing the Sherman Act, the two companies should be broken into at least 6 pieces each and barred from merging. Existing shareholders would get shares in the off-spring companies."
http://www.cato.org/blog/we-decide-keep-fannie-mae-around
Wow, times are really changing...
"Hi everyone we have been getting a lot of questions about an update, there will be a full corporate update posted no later than next Wednesday. Thanks for all the patience."
From Terra Tech Facebook page:
https://m.facebook.com/terratechcorp/posts/893822600669053
Today, U.S. Representative Ed Royce (R-CA) will introduce the Pay Back the Taxpayers Act of 2015, legislation that prohibits Fannie Mae and Freddie Mac (GSEs) from diverting funds to the Housing Trust Fund and the Capital Magnet Fund in accordance with the Federal Housing Finance Agency’s (FHFA) interpretation of the Housing and Economic Recovery Act of 2008 (HERA):
“We heard directly today from Fannie and Freddie's regulator that while they remain under-capitalized and over-leveraged, it is the right time to start siphoning money away from these taxpayer-backed GSEs to questionable housing groups,” said Rep. Royce. "Anyone who witnessed the financial crisis knows exactly how this will play out. A larger government presence in housing distorts the market and promotes a boom-and-bust cycle that leaves taxpayers holding the bag. Coupled with the recent decision by the FHA to reduce mortgage premiums, it appears that the Administration is taking us in the complete wrong direction when it comes to stabilizing housing markets. The Pay Back the Taxpayers Act will preempt payments from the GSEs to housing advocacy groups and instead reroutes them where they belong: with the taxpayers.”
Under current law, the FHFA is required to suspend allocations to the funds if such payments would: 1) contribute to the financial instability of the GSEs; 2) cause the GSES to be undercapitalized; or 3) prevent the GSEs from successfully completing a capital restoration plan.
The Pay Back the Taxpayers Act removes any ambiguity under the law and states that no funds from Fannie and Freddie can be used to fund the national Housing Trust Fund while the GSEs are in conservatorship or receivership. In light of FHFA Director Mel Watt’s recent decision to reverse course on the funds’ capitalization, the bill includes a prohibition on any future transfers from the GSEs to the funds and will require any payments that have already been allocated or set aside be instead used to reduce the budget deficit.
Rep. Royce questioned FHFA Director Mel Watt at today’s House Financial Services Committee hearing entitled “
Sustainable Housing Finance: An Update from the Director of the Federal Housing Finance Agency
” as to why he has directed the GSEs to fund these housing groups when the GSEs are over-leveraged and undercapitalized.
to watch Rep. Royce’s questioning and Director Watt’s answers.
Link to video:
God bless, Our prayers are with you.
Very nice!
Nice find!
$FNMA$
Looking good!
Nice find!
Congrats all!!!!! Things are really starting to come together.
$TRTC$
Cheers!
Nice find.
Federal District Court Judge Asks: Should Federal Law Classify Cannabis As One Of The Nation’s Most Dangerous Drugs?
by Paul Armentano, NORML Deputy Director
October 20, 2014
Testimony regarding the constitutionality of the federal statute designating marijuana as a Schedule I Controlled Substance will be taken on Monday, October 27 in the United States District Court for the Eastern District of California in the case of United States v. Pickard, et. al., No. 2:11-CR-0449-KJM.
Members of Congress initially categorized cannabis as a Schedule I substance, the most restrictive classification available, in 1970. Under this categorization, the plant is defined as possessing “a high potential for abuse, … no currently accepted medical use in treatment in the United States, … [and lacking] accepted safety for … use … under medical supervision.”
Expert witnesses for the defense – including Drs. Carl Hart, Associate Professor of Psychology in the Department of Psychiatry and Psychology at Columbia University in New York City, retired physician Phillip Denny, and Greg Carter, Medical Director of St. Luke’s Rehabilitation Institute in Spokane, Washington – will testify that the accepted science is inconsistent with the notion that cannabis meets these Schedule I criteria.
“[I]t is my considered opinion that including marijuana in Schedule I of the Controlled Substances Act is counter to all the scientific evidence in a society that uses and values empirical evidence,” Dr. Hart declared. “After two decades of intense scientific inquiry in this area, it has become apparent the current scheduling of cannabis has no footing in the realities of science and neurobiology.”
The government intends to call Bertha Madras, Ph.D., Professor of Psychobiology at Harvard Medical School and the former Deputy Director for Demand Reduction for the White House Office of National Drug Control Policy under President George W. Bush.
Additional evidence has been presented by way of declarations by Marine Sgt. Ryan Begin, a veteran of the Iraq War; Jennie Stormes, the mother of a child suffering from Dravet Syndrome – a pediatric form of epilepsy that has been shown in preliminary trials to respond to specific compounds in the cannabis plant; James Nolan, Ph.D. an associate professor of sociology and anthropology at West Virginia University and a former crime analyst for the US Federal Bureau of Investigation; and Christopher Conrad, noted cannabis author, archivist, and cultivation expert.
This is the first time in recent memory that a federal judge has granted an evidentiary hearing on a motion challenging the statute which classifies cannabis to be one of the most dangerous illicit substances in the nation. Attorneys Zenia Gilg and Heather Burke, both members of the NORML Legal Committee, contend that the federal government’s present policies facilitating the regulated distribution of cannabis in states such as Colorado and Washington can not be reconciled with the insistence that the plant is deserving of its Schedule I status under federal law.
They write: “In effect, the action taken by the Department of Justice is either irrational, or more likely proves the assertions made in Part I (B) of this Brief: marijuana does not fit the criteria of a Schedule I Controlled Substance.”
Speaking recently in a taped interview with journalist Katie Couric, United States Attorney General Eric Holder expressed the need to revisit cannabis’ Schedule I placement under federal law. Holder said, “[T]he question of whether or not they should be in the same category is something that I think we need to ask ourselves, and use science as the basis for making that determination.”
The testimonial part of the evidentiary hearing in United States v. Pickard, et. al., is expected to last three days.
- See more at: http://blog.norml.org/2014/10/20/federal-district-court-judge-asks-should-federal-law-classify-cannabis-as-one-of-the-nations-most-dangerous-drugs/?utm_source=twitter&utm_medium=social&utm_campaign=Federal+District+Court+Judge+Asks%3A+Should+Federal+Law+Classify+Cannabis+As+One+Of+The+Nation%E2%80%99s+Most+Dangerous+Drugs%3F#sthash.Xpe8PoQX.dpuf
Doubling Down on Pot: Buffett Sells Upper Deck, Room to Grow
Ice cream, candy and soft drinks helped make Warren Buffett a billionaire. Now a subsidiary of his Berkshire Hathaway Inc. is seeking to profit from pot.
Cubic Designs Inc., a unit of Berkshire’s MiTek business that makes platforms for maximizing usable floor space in warehouses, sent about 1,000 fliers to weed dispensaries in recent weeks, offering to help growers expand the number of plants they cultivate.
“Double your growing space,” the flier reads in capital letters, above an image of an indoor facility with rows of plants. Another page says, “Grow your profits.”
http://mobile.bloomberg.com/news/2014-09-12/buffett-s-berkshire-has-unit-that-helps-marijuana-growers.html
Nice one!
Awesome find! Thanks.
TRTC press release key points:
(From 420 Investor)
1) Sales of $7mm still expected for full year
2) NB Plants deal expected to close by year-end
3) Update on Edible Garden initiatives
4) Explanation of three distinct LLCs in Nevada (applications will be submitted by 8/18 deadline)
5) CBD project with NRTI on track
6) Continuing to pursue case against individuals who allegedly defamed maliciously
7) Dominion financing addressed
Terra Tech Releases Corporate Update and 2014 Q2 Financials; Reports Over 450% Increase in Revenue
Irvine, Aug. 13, 2014 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC) is pleased to announce the filing of its financial results for the quarter ending June 30, 2014. Total revenues generated from sales for the second quarter totaled $3,711,801, an increase of $3,046,436 or 458% from the quarter ended June 30, 2013, which totaled $665,365. The primary reason was due the revenue generated from Edible Garden.
The net result for the quarter ended June 30, 2014 was a loss of $0.03 per share compared to a loss of $0.01 for the quarter ended June 30, 2013. The company finished the quarter with a strong cash position of over $2.6 million and total assets of $8.8 million. The company exceeded their revenue guidance of $3.5 Million for the second quarter and reaffirms their full year 2014 revenue guidance of $7 Million. The full 10-Q filing is available on the SEC's website at http://edgar.sec.gov/
"Our primary concentration in 2014 has been building revenue and ramping production, which is expensive. Now that we have a strong revenue base we are beginning to balance that goal into the end of year and throughout 2015 with increasing margins, reducing costs and focusing on working towards profitability," explains Derek Peterson, CEO Terra Tech Corp. "We made some significant progress with both Edible Garden and our cannabis initiatives during the first half of the year. We've added several new key retailers and distribution points for our line of living produce and have made great headway throughout Nevada in securing a permit to operate a Medical Marijuana Enterprise. Our objective for the remainder of the year is to continue to grab market share for Edible Garden, develop opportunities in the cannabis field and to seek out symbiotic mergers and acquisitions."
Terra Tech has recently extended a term sheet to acquire Naturally Beautiful Plants LLC. In April 2013 Terra Tech discovered some change of ownership covenants that existed within NB Plants credit facilities that required the company to refinance. The cost associated with refinancing proved too significant for the company and shareholders to absorb at that time. Management made the decision to defer the acquisition until those fees were more manageable; currently it is our understanding that those fees no longer exist. The company is looking to close the deal no later than December 31, 2014.
"Closing this transaction has been a goal since we originally announced it. There is a synergistic benefit to owning NB Plants from an operational standpoint not to mention they have been both cash flow and net income positive, which aligns with our priority of moving the company towards profitability," explains Ken VandeVrede, COO of Terra Tech
Q-2 milestones:
The Clark County Board of Commissioners voted to approve a special use permit for MediFarm's vertically integrated and co-located medical marijuana cultivation and production establishments.
Terra Tech entered into an exclusive distribution agreement with Vaporin Inc. to supply proprietary vaporizer products to our cannabis dispensary relationships throughout California, Colorado, Washington and Oregon. As part of the agreement Terra Tech is receiving 1.5 Million shares of restricted Vaporin Common stock, preferential pricing and exclusive rights to the four states. In addition the Medifarm team began work with Vaporin to design a line of cutting edge, high end Vape Pens.
Walmart, Stew Leonards and 10 others were added to the list of retailers distributing the Edible Garden(TM) brand. In total the company added approximately 200 retail locations during the quarter bringing the total to roughly 1000 retailers.
Edible Garden(TM) launched Snip-Its(TM), a small living herb plant offered as an alternative to imported cut herbs. The product is now being shipped to several retailers.
Edible Garden launched a new consumer website www.ediblegarden.com.
Edible Garden launched their Greenhouse Abilities Training Program. In partnership with Abilities of Northwest Jersey, this new program is focused on providing individuals with mental or physical disabilities the opportunity to gain experience and self-confidence working in the greenhouse industry.
Corporate Update:
Edible Garden:
Edible Garden is continuing to expand their retail footprint and in active discussions with retailers throughout the country. The company is focused on developing a footprint in the Southeast market as well as broader expansion in the Midwest. Currently the new 5-acre hydroponic facility is at 75% capacity and the company is in the process of installing automated Dutch hydroponic tables in 2 acres. The company made the investment to shift the produce cultivation taking place in NB Plants facility over to EG's facility which should help reduce costs and align with the company's objective of increasing profitability. These systems should increase productivity while reducing labor. The company is currently testing additional products including various lettuce mixes, vegetables and other produce to expand the brand within their current retail footprint.
Nevada:
The company, with the intent that they will operate Medical Marijuana Establishments (MME) in Nevada, has formed 3 new subsidiaries. MediFarm, a Nevada limited liability company, was formed on March 19, 2014. MediFarm I, a Nevada limited liability company, was formed on July 18, 2014. MediFarm II, a Nevada limited liability company, was formed on July 30, 2014. Prior to opening their planned MME, they must obtain certain certificates and permitting. Currently, only MediFarm has commenced this process.
Since the close of the quarter, the company announced that MediFarm has successfully submitted its applications for both a special use permit and compliance permit to the City of Las Vegas, Nevada. MediFarm's special use permit application was submitted to the City's Planning Department on July 17th. On July 23rd, MediFarm submitted its application and business plan to the City's Business Licensing Department to obtain a Medical Marijuana Dispensary Compliance Permit. Both MediFarm I and MediFarm II were formed to pursue MME in Washoe County. The necessity for multiple entities is due to differences in strategic partners as well as advisory board members.
"Our team submitted competitive applications in both Clark County and the City of Las Vegas", said Salwa Ibrahim, President of MediFarm. "We are currently assembling our applications for Northern Nevada, as well as preparing our applications for the State which we intend on submitting by the August 18th deadline."
Florida:
On June 16, 2014, Florida Governor Rick Scott signed into law Senate Bill 1030, which permits five dispensing organizations in the state of Florida to cultivate, process and dispense non-smokable, low-THC cannabis. The Florida Department of Health is currently engaged in the administrative rule making process, and is required under the law to authorize the establishment of five dispensing organizations no later than January 1, 2015.
The company recently signed a LOI with Florida Tuxedo Plants, Inc., one of the qualified nurseries listed by the state. The LOI affords the companies 90 days to negotiate terms and enter a definitive agreement.
"Florida is an important market and our hope is that responsible regulations are put in place allowing for a sustainable medical program to develop. The company recently retained two Florida-based consultants to assist the company with its strategy and efforts to pursue opportunities in this new market," explains Derek Peterson, CEO of Terra Tech.
NRTI & Lab:
Terra Tech has been working with Inergetics, Inc. to develop a line of natural cannabidiol (CBD)-based nutritional supplements. NRTI has been working diligently in developing an advisory team and focusing on testing for bioavailability. Concurrently Terra Tech has been working on finishing their extraction lab located in Oakland, Ca. On August 25th, Eden Labs is set to install and configure the supercritical C02 extractor, and combined fractionation vessel, which allows the company to isolate individual cannabinoids from plant based materials. They will then be able to individually test and re-formulate these compounds to study and potentially treat various ailments. This allows Terra Tech to have full control over the extraction process and to supply NRTI and others with the specified compounds they need to formulate their supplements. Terra Tech expects the lab to be fully functional by September 1st 2014.
Legal:
In June the company announced they had recently become aware of potentially libelous statements made through multiple online sources. The company has identified the individuals and entities involved. The company subsequently retained Carl F. Schoeppl of the law firm Schoeppl & Burke P.A. to investigate the matter and to recommend appropriate legal options for the company. Mr. Schoeppl, is a former senior federal prosecutor with the United Sates Securities and Exchange Commission (SEC) Division of Enforcement. The company intends to protect their shareholders to the fullest extent permitted by law.
Financing:
On July 31, 2014, the Company entered into a letter agreement with Dominion Capital LLC, amending the Securities Purchase Agreement dated February 5, 2014, by and between the Company and Dominion. Pursuant to the terms and conditions of the Letter Agreement, the funding obligations of Dominion under the Purchase Agreement were accelerated. On July 31, 2014, Dominion funded, in a single tranche, $2,750,000, to the Company. The $2,750,000 was the balance of $6,550,000 due to the Company under the Purchase Agreement. On August 8, 2014 the company filed with the Securities and Exchange Commission a Form S-1 for the resale of securities underlying this financing. The acceleration of this note increases the company's cash reserves to approximately $5 Million.
"The company has built a stable cash reserve to manage continued operations, invest in strategic opportunities and finance potential acquisitions. While raising capital adds to the share count it is necessary to execute on our business plan. Management is focused on engaging in accretive opportunities with the capital we raise in an effort to return shareholder value," explains Mike James, CFO Terra Tech.
The company will continue to update shareholders throughout the remainder of the year. Additional updates regarding the company's efforts in Nevada and Florida as well as other markets will be forthcoming.
About Terra Tech
Terra Tech Corp. (TRTC) through its wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. Our complete product line is available at specialty retailers throughout the United States, and via our website. Through its wholly-owned subsidiary Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as Shoprite, Walmart, A&P, Kroger and others throughout Massachusetts, New Hampshire, New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania, Maine, Indiana, and Ohio.
http://finance.yahoo.com/news/terra-tech-releases-corporate-2014-020053044.html
"Supermarket News ranked A&P #28 in the 2012 "Top 75 Food Retailers and Wholesalers" based on 2012 fiscal year estimated sales of $6.7 billion. Based on 2009 revenue, A&P was the 34th largest retailer in the U.S. From 1915 through 1975, it was the largest food retailer in the nation (until 1965, the largest U.S. retailer of any kind). A&P is considered an American icon. The Wall Street Journal, in a blog post on December 10, 2010, said that "A&P was as well known as McDonald's or Google is today" and that A&P was "Walmart before Walmart.""
http://en.m.wikipedia.org/wiki/The_Great_Atlantic_%2526_Pacific_Tea_Company
Nice find
Derek's explanation:
"It goes back to the filing where we sold amy's b shares to the vande Verdes. The preparer transposed the the shares amounts last year when she sold 1795000 to Mike Steve and Ken but the preparer wrote 1975000 it was reported correctly in 8k and all filings we just needed to amend the form 4"
Form 4: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10108940
Form D: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10108957
Cheers!
Great post!
"Stew Leonard's is not only the world's largest dairy store; it is also in the Guinness Book of World Records for having "the greatest sales per unit area of any single food store in the United States." It has been listed as one of Fortune magazine's "Top 100 Businesses to Work For" ten years in a row. It currently has annual sales of around $300 million and has about 2,000 employees."
http://en.m.wikipedia.org/wiki/Stew_Leonard's
Edible Garden's Brand of Locally Grown Produce Is Now Available at Walmart and Stew Leonard's
GlobeNewswire Terra Tech Corp. 43 minutes ago
Belvidere, June 25, 2014 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC) subsidiary Edible Garden, an urban agricultural company, announced two new retail outlets for their line of living produce. The company is now shipping 4" Living Herbs to Walmart throughout the Northeast, as well as hydroponic basil and 4" Living Herbs to Stew Leonard's, a premier grocer with stores in Connecticut and New York.
"We were thrilled to hear Walmart and Stew's are focused on supporting local farmers and offering fresh, locally grown produce to their customers," says Derek Peterson, CEO Terra Tech Corp. "They understand that reducing food miles means a better product for consumers and a healthier product for our environment. We are ramping up our production and look forward to providing them both with the highest quality products that our customers know and trust"
Edible Garden is actively pursuing additional retail partners to fill out their new 5-acre facility as well as the facilities of their cultivation partners in Florida and the Midwest. In addition the company has been experimenting with new produce in an effort to broaden their offerings to both current and potential retail partners.
http://finance.yahoo.com/news/edible-gardens-brand-locally-grown-130000960.html
Yes, but that would only explain the Walmart's in Florida.
-----------------------------------------
Edible Gardens being sold in Florida Walmart's could be a result of the distribution deal they signed in February with Sunshine Growers. They (Sunshine Growers) have supplied Walmart for 22 years via Walmart's "Locally Grown Program".
See articles below:
"“We’ve supplied to Walmart for 22 years and over those two decades we’ve seen nothing but a positive impact on our business,” said Shane Weaver, Sunshine Growers, a poinsettia supplier. “In fact, nearly 16 weeks per year Walmart business supports 65 of our full time employees.”
Walmart’s locally grown program continues to highlight local farmers and their products in stores through signage that makes it easy for customers to recognize. Signage includes official state-grown marks, indicating approval by the state’s agriculture department."
http://news.walmart.com/news-archive/2008/11/25/walmart-gives-consumers-opportunity-to-support-local-economies-through-locally-grown-program
----------
"Lakeland, Feb. 24, 2014 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC) subsidiary Edible Garden, a locally grown herb and produce cultivator, signed a distribution deal with Sunshine Growers out of Lakeland, Florida."
http://globenewswire.com/news-release/2014/02/24/612785/10069692/en/Terra-Tech-Subsidiary-Edible-Garden-Signs-Distribution-Deal-with-10-Acre-Florida-Based-Farm.html
----------
"From its initial service of a handful of Wal-Mart stores, Sunshine Growers now distributes plants to approximately 250 of its garden centers and SuperCenters in Florida and Georgia as well as to 250 Publix stores on a weekly basis.
This hefty figure is due in large part, says Roth, to the fact that Sunshine Growers is allowed to use Wal-Mart’s own distribution centers. This gives the company the ability to supply a number of stores while only traveling a fraction of the distance. Also, as Wal-Mart has developed into the most prominent retailer in the nation, Sunshine Growers has been able to acquire additional distribution points, including the Wal-Mart-affiliated Sam’s Club.
That growth has benefited Roth’s company. “As a result of increased sales, we have expanded our facilities and our management team,” he says.
What's more, by traveling to the various Wal-Mart stores, Sunshine Growers has secured other clients in proximity to its Wal-Mart customers. What we're trying to do is go to fewer stores and deliver more products at one time," Roth explains.
In this way, Sunshine Growers has grown remarkably. For example, just five years ago, the company was serving 40 Wal-Mart SuperCenters, and now it supplies 120 of them. In its first year of business, the company managed to earn a respectable $352,000 in sales, even with a small staff of eight. Now, Sunshine Growers has about 60 employees, has delivered over 1.5-million plants in the past year and has added Home Depot to its impressive client roster. In 2005, the company's revenues were $5 million, with up to 95 percent of its business coming from its high-profile customers."
http://www.sunshinegrowersinc.com/news.php
Terra Tech has done a complete redesign of their edible garden website. Check it out here: http://www.ediblegarden.com
Congrats all!!!!!!
Can someone please post the new pr?
Interpretation:
"Now that cannabis sector analyst has officially rated TRTC a strong buy based on the fact that MJ revenues are closer to being realized, I see this having a good chance of returning to prior levels soon. What do you guys think?"
$TRTC$
Thanks for the confirmation.
Great catch!! Welcome:)
Do you have a link for the updated list of companies or persons that have submitted an application?
Good eye Knife... Cheers!
Great stuff! Thanks DC...