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Even if STEV becomes available on other brokerages, the company has $0 revenue. The only way it generates cash for “investment banks looking at a $7-10M run rate” is by issuing more shares and diluting shareholders. They don’t have any other operations…
$0 revenue. George killed the biz, that’s why they weren’t reporting. Now we now the $7-10M run rate tweet from Ken Maciora was a lie.
$7M in revenue would be an increase of 134% over the last filing in 2014, though it's hard to take seriously what the SteviaCorp account is posting on Twitter until they get updated filings out (which Ken said they would upload today). I'm rooting for Ken and the team but if they're going to give dates for things they need to follow through. They've been saying for almost 7 years "we will file soon and be current shortly" and yet here we are...
By August 31, 2021.
Ken said by OTC deadline of 8/31... let's see that filing.
24 hours for Kenneth! Can he deliver?
The past is not over. The company hasn't reported financials to confirm their bankruptcy yet.
George is an incompetent and borderline criminal CEO. Unfortunately for him, Stevia Corp. is a public company and there are dozens of investors who got burned here, so the chances of him raising money for a public company in the future are very low.
There's no need to go out of our way to ruin his reputation at this point. Stevia Corp. is dead, non-reporting and traded only on the lowest possible exchange, so no legitimate investors will support George and his "company." If he ever tries to raise money for another public company, however, the story of Stevia Corp. and his incompetence and criminal actions will be widely publicized. He really screwed himself over on this one.
It is. They have a lot of notes due this year and no profitability. They're gonna be diluting massively this year... and indefinitely.
You're a good man, Burton. So is Fallingknife, Pennypacker, and many of the previous longs that posted on this board. We had a good group going and all genuinely believed this company was a diamond in the rough -- it takes a lot of courage for you to come on the board now and share the information you've found in your own research, even though it contradicts your original investing thesis.
We all made a mistake with this one, but we're better for it. We won't be getting ripped off by guys like George and Ken in the future, and they will no doubt get what's coming to them.
Agreed.
George is a fraud, plain and simple. I was one of his biggest fans a few years ago, touting this stock everywhere, but time has revealed George's true character and it isn't pretty.
Because they are burning capital in every operation they expand to and have yet to yield a return. Expanding to aquaculture and hemp are only helpful to the bottom line if the company can realize a profitable return from stevia operations, which it cannot. If it were profitable, these expansions could potentially be leveraged to increase profits further. Since the company is not profitable in any operation, instead these expansions serve only to distract George from what is truly important: making stevia profitable.
It's really easy to start a business, it's really hard to make it profitable. Most people will quit and try something else before they see profitability because it's easier than figuring out how to get to the next level at what they are doing. That's exactly what George has done with Stevia Corp. He failed for years to make stevia profitable and since he doesn't have what it takes to figure it out, he's distracting himself (and shareholders) with "expansions," raising tons of capital and paying himself an insane wage in the meanwhile.
Everyone who invested in STEV in 2013 was partially attracted to the company because George purchased a large amount of shares with his own money. Turns out he's able to afford it because he pumps his company, raises millions in toxic financing, and then pays himself back with interest in wages that haven't been made public.
George expanded the company in five directions because he doesn't have what it takes to make one profitable.
Maybe he was a good commodities trader but he's a shitty businessman.
There's no reason to expand into so many markets unless you've really mastered one.
No, the company is in delinquent status because George hasn't turned in financials to the audit company. He is holding the process up, regardless of what the company says. This was confirmed months ago.
My guess is he's delayed it (and will continue to delay it) because the numbers are far lower than he led people to believe in PRs (when he was trying to pump the company's share price up, diluting shares, and then paying himself a grand income) and, legally, he doesn't want to open the door to fraud and manipulation charges (of which he is guilty if the numbers don't show an increase in revenues).
Not paying invoices is a personal thing, shouldn't have brought that to the board. Obviously the company is in financial distress and George is hiding it. We all gave him the benefit of the doubt years ago but he's proven that he doesn't deserve it at this point. He is beyond unethical -- he is criminal -- but justice will find him. :)
Funny you say George responds to your e-mails promptly when he doesn't respond to or pay invoices for half a year.
I've been saying that for at least a year. Jessica Scott is worthless. I haven't seen evidence that she does ANY of the tasks listed in her job description.
Strange that they would allow a stop to happen. George's reputation is on the line...
Jesus
Lots of volume today.
"Key players in the global stevia market include Ingredion Inc., Stevia Corp., Evolva Holding S.A., Tate & Lyle Plc., Cargill Inc., The Coca-Cola Company, Nestle S.A., PepsiCo Inc., and GLG Life Tech Corp."
http://www.digitaljournal.com/pr/2770994
Lol, we are all broke.
This could be one of many things:
1 - A scam or case of plagiarism
2 - A franchise expansion
3 - An acquisition
You e-mailed them yet?
Interesting.
I mean, it's his public image and he obviously doesn't care about it. Just kinda sad to be a part of.
He could have some really exciting things going behind the scenes, but on the surface it appears that he's a crook. Who delays financial statements 6 months?
Appearing dishonest and being dishonest. What's the difference? He's going to be the target of hit pieces if he doesn't try a little harder.
I don't get why George would allow his character to be ruined in this way. Why not just be honest?
I mean, we are six months overdue on a financial statement that he hyped up repeatedly.
I mean, honestly now. George has lost how many hundreds of thousands of dollars in share value so far and still refuses to explain what's going on to shareholders?
Hmm, looks like someone pressed the wrong button somewhere? Maybe that means we get financials tonight/tomorrow?
I get it if George is a little more introverted but, given the company's revenues, it's time to hire a legitimate marketing team and a spokesperson.
My guess is an acquisition is coming, the deal started right before the 10K was meant to be released and management decided to hold off on the 10K (which will reflect a "break out year" according to George in the investor conference call earlier this year) so the share price is lower and the acquisition is more attractive to the buyer.
Not sure if they are planning to sell the stevia division, hemp division, or CBD patent division. Time will tell.
Who is acquiring us???
Info still shows up for me on the investor tab.
No way an SEC audit would take this long. They are trying to sell a division of the business. My guess is stevia.
George's strength is developing businesses, makes sense to sell one that is already profitable and move on to develop the next one.
Everyone here should review the production Amazon. Search for "RealHempTM" and review them all.
All of my conversations with the RH guys lead me to believe they are thriving. They are super optimistic about their launches, and it sounds like they are doing very well based on the $1M revenue prediction.
Everyone here should be leaving positive reviews for the RH products on Amazon. It helps them rank on searches.
On a $14.99 item, Amazon fulfillment would cost $3.69. That's a pretty significant cut of the margins.
Calculator here: https://sellercentral.amazon.com/hz/fba/profitabilitycalculator/index?lang=en_US