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That's a poor analogy. These are public companies with thousands of innocent investors. Besides, when was the last time the FBI had the authority to take hundreds of thousands of dollars or more from all the people who happened to be in the same building as a murder SUSPECT? Never. Plus, at least a murder suspect gets a trial. No such democratic luxuries here! You do have a point about the need for the investigation to remain private until they have gathered the necessary evidence. But once their investigation is complete, the public has a right to know! And the company deserves a fair trial and right to work toward full restoration.
Done.
Now we need one to curb the abuse of power by FINRA and the SEC.
There is a patent that is still pending. Not sure when they will hear back. I'm guessing before the end of summer (only because it has already reached the "average" time frame--which, admittedly, varies widely), but hopefully sooner.
I can name one: CBDS. Gary Johnson is on the board of CBDS as well. And I'm long both MDCN and CBDS in part for that very reason. I also think Johnson has a chance for 2016 (and I'm sure he'll be doing everything in his power to make sure these companies succeed).
Seriously, wingswomennbeer. I think you're a great part of the ATTBF board. You have a lot to contribute and I appreciate your posts. I also appreciate your desire for an elevated, fact-based discussion. That's important. My only wish is that you would stop bullying Clay Death. It's hard to compare to Shark and Curiousbuild and some of the other wise voices on this board, but I do appreciate Clay's optimism. He's kept me in the game more than once.
Long ATTBF! GLTA!
News article (see link below) from this morning focuses on CBGI.
The best thing Cummings can do is follow through on this promise:
"Cummings stated in a March news release that he’s having an independent firm audit CannaBusiness, with plans to become a fully reporting company. The company is also looking to raise $5 million from accredited investors through rule 506(c) of the Jump-start Our Business Startups, or JOBS Act, which allows companies to advertise shares to the general public."
CBGI has a great business plan and tremendous potential. Let's just hope Cummings recognizes that this is his big chance to make good and become a real influencer in this sector.
Meanwhile, FINRA needs to EASE UP! before people start organizing against their unchecked power. This run of suspensions is an abuse of power, in my opinion. They need to use other enforcement mechanisms that are not so devastating to thousands of innocent investors and, instead, go after only the specific individuals at fault. These suspensions are like atomic bombs, with extensive collateral damage, when what they need are just a few key surgical strikes.
http://www.knoxnews.com/news/2014/apr/27/marijuana-legalization-gives-penny-stock-a-wild/
Because the guy has fooled a some people into thinking he is an actual research institute (which would be very clever if it wasn't totally unethical). In reality, however, he's just a short seller. Check out his Facebook page or the comments section under his posts on Seeking Alpha. It's a total joke. He even claims to have an office on K Street in DC, but it doesn't exist. He's just a guy with a logo and a Twitter account. He tweeted some nonsense about the President of CBDS, naming the wrong guy altogether. The question is: Who's the fraud here? Apparently, despite his Twitter name, this shorty doesn't even know what the word research means.
The bigger problem, however, is that Ameritrade just mistook a tweet from a short seller as "news."
If you're interested in CBDS, the best thing to do is read through their SEC filings (beginning with their announcement in January). Then research the people involved. That's what sold me on CBDS. These guys have very deep roots in the legalization of marijuana. They are extremely well connected. The board even includes former Governor Gary Johnson! (You really think after a successful career in politics, and a chance for a White House run in his future, that he's going to get behind a pump and dump scheme?? The idea is ludicrous.) Also, check out Mike Gravel (former United States Senator) Steve Kubby (instrumental behind Prop 215 in California, legalizing medical marijuana—among many other things—his bio on Wikipedia is a great starting place), David Tobias (former CEO of another marijuana company, also the very guy who helped conceive the idea of a publicly traded marijuana company, also on the board of MDCN), and Ed Rosenthal (author of several books on marijuana). Look for their bios online--tons of interesting information to read. This is the DREAM TEAM for a marijuana company. The good news for you is that the dip in the market, the lack of news, and the recent SEC suspensions make this an unbelievable buying opportunity. I'm planning to take another big position sometime early next week myself. GOOD LUCK TO ALL!
Yes! In fact, in support of your post, recent SEC filings (April 23 & 24) suggest (IMO) a very big move is IMMINENT! Buckle up, longs! We're about to see some serious positive action!! I'm doubling down at these prices!! Woohoo!! Loving it! Go CBDS$$$
Totally agree. I'm loading up. The only thing the current price reflects is a coordinated attack from short sellers. The business fundamentals here are solid. Michael Cummings is a capable leader who wants this to succeed. CBGI will prove to be a big player as legalization continues to spread. The lower it goes, the more I buy! Go CBGI!
Please. CBDS is just getting started! They're barely out of their first 90 days. If you're looking for a pump and dump you came to the wrong place. These guys are building the foundation for long-term success. Patience will be heavily rewarded on this one. This is a phenomenal buying opportunity for those who could not afford to get in earlier. And when the patent comes through this stock will got to the moon!!! Long CBDS$$$!!!
Thanks, man. Appreciate you sharing your experience and thoughts about all this--ATTBF, Withrow, sector, etc. I'm long ATTBF, but still hoping to see some action and growth soon. Regardless of the delay on the license, the current price is a total steal in my opinion. Continuing to load up.
It's not hope. It's progress. With massive upside potential.
Totally agree--this is a game changer for the whole sector! CANN is headed for the comeback stock of the year award!
Be patient, bro. Don't lock in a loss. These guys are legit. Besides, the whole market is down. Just step back, wait a few days and get some perspective. Go look at the NASDAQ chart for the last month. It's doing the same thing.
So, basically they removed a major liability from their balance sheet by converting it to shares--that's a good thing. They're meeting their obligations and cleaning up their balance sheet. CBDS is making all the right moves. This could be a huge play.
From my perspective, this is just Tobias being perfectly transparent and straightforward. This is the reality. There are no surprises here. In fact, none of this is new either. Though we may all believe that marijuana will be legalized, Tobias--obviously--cannot guarantee that. And he's letting potential investors know that that is a possible risk here. This is not about hyping a stock to get rich. This is about building a business foundation to capitalize on an emerging industry. The way I see it, if all of the companies in this sector communicated in this kind of reality-based language we wouldn't have to worry so much about the SEC.
I'm just as encouraged as ever by this. These guys are SOLID. And I'm stoked on the current price. Time to load up! CBDS$$
I can't believe CANN closed UP today (significantly up!)--especially a day like today (when the whole sector is red!)! Such a beautiful thing! It's just like...total defiance. I'd love to see this baby back on the Pink sheets. Maybe this is just part of how stocks unwind when they get relegated to the greys? Does anyone know? Is this normal? Or is this the faith and commitment of investors triumphing over the power of FINRA to destroy?! Love it! I'm tempted to go long just to be part of its resurrection! (It's available for trading on Ameritrade). If CANN can recover from an SEC suspension...what does that say about the sector...about MJ investors?? This sector is going to explode!
Who can we lobby to get CANN back to the pink sheets?
Good news: Maryland just became the 21st state to legalize medical marijuana.
It's not a scam. Be patient. They're building businesses not pumping stocks.
WTF? Is anyone else seeing this? I'm seeing ATTBF at $2.50 (Ameritrade).
It's the blowback from PHOT getting suspended by the SEC today. It will blow over in a few days.
Good news is coming!
http://hemp.org/news/content/us-attorney-general-holder-expected-answer-questions-about-federal-marijuana-policy-tuesday-
U.S. Attorney General Holder Expected to Answer Questions About Federal Marijuana Policy at Tuesday Hearing
Attorney General Eric Holder is expected to answer questions about federal marijuana policy during a Tuesday hearing of the House Judiciary Committee regarding Oversight of the U.S. Department of Justice. Holder will be providing testimony regarding various Obama administration enforcement policies.
The hearing is scheduled to begin at 10 a.m. ET in Room 2141 of the Rayburn House Office Building. Dan Riffle, director of federal policies for the Marijuana Policy Project (MPP), will be available for comment immediately following the hearing.
In an August 2013 memo, Deputy Attorney General James Cole announced that federal law enforcement organizations would refrain from interfering in the implementation of state laws regulating the cultivation and sale of marijuana for medical or adult use, as long as states adopt and enforce adequate regulations that address specific federal priorities.
WHAT: House Judiciary Committee hearing on Oversight of the U.S. Department of Justice, at which Attorney General Eric Holder is expected to answer questions about marijuana policy during his testimony regarding Obama administration enforcement policies
WHEN: Tuesday, April 8, 10 a.m. ET
WHERE: Room 2141 of the Rayburn House Office Building, 45 Independence Ave. SW, Washington, D.C.
WHO: House Judiciary Committee
Attorney General Eric Holder
Yeah, good point. I love that about FSPM. I doesn't totally depend on the future of MJ. Still FSPM will totally blossom if MJ gets rescheduled. Just think of all the people that will become growers that aren't growing anything now.
http://www.huffingtonpost.com/2014/04/04/eric-holder-reschedule-marijuana_n_5092010.html
Yeah, if people understood this...and we could get this little schedule 1 problem solved...then this stock would be worth well North of $100. Glad to be in early. $FSPM.
CBDS is back, baby! Run CBDS, Run!
Yep, and I agree--IF you look at current revenue and current assets. That's the problem with all the investors that are going to miss out on what’s happening here…with the entire sector. This is not about where we are now. This is about the birth of an industry. If you don’t have the vision and discernment to see that this is going to be a game changer, and that a whole new generation of millionaires is going to come out of this, then you sell short and stick with Nasdaq. Start thinking in terms of progress and potential instead of market caps and balance sheets. I say grow some balls and change your future. Long CBDS$$
No way, Kannebiss King! I've done a crapload of DD on CBDS and I honestly believe this thing will be one of the stocks that breaks $100. CBDS is the real deal. These guys are not in this to make money off their shareholders. These guys didn’t jump on the pot stock bandwagon like more than half of these so-called MJ companies. These guys have long been involved in the legalization of marijuana . Just look at who is involved in this: David Tobias, Steve Kubby http://en.wikipedia.org/wiki/Steve_Kubby, Ed Rosenthal http://en.wikipedia.org/wiki/Ed_Rosenthal, Gary Johnson http://en.wikipedia.org/wiki/Gary_johnson . These guys are like the celebrities of the marijuana industry. Gary Johnson is planning to run for President of the United States again for crying out loud. Do you really think he’s going to let CBDS fail?? Give me a break! These guys have a vision for CBDS too. This is going to be so much more than people realize. Seriously, this stock is worth far more than $20—just on the career-long commitments to marijuana, their vision and the business and political savvy of the people involved. I’m long CBDS well past 2016. The lower it goes the more I buy! I feel sorry for all the weak hands that sell CBDS at a loss. Just hang on, buddy. We’ll be well over $16 again before the end of the month (probably sooner!).
Damn! This is an epic buying opportunity! I'm betting this thing triples in a matter of days!
Yo! Where is the bottom of this thing? This is getting ridiculous. We need some news, Tobias!
Yeah, I'm feeling the crunch too. But I KNOW these guys are legit. So, it's just a matter of time before it comes back up. In fact, if it dips a little lower I'm going to load up 10X.