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Correction 4 1/2 billion down to 40 1/2 million
I forgot to add that they ALREADY gave themselves a RAISE with the latest vote .While the company continues to LOSE more and more money . At some
point ,they will try to liquidate debt and the company (not many assets
remain for shareholders) The remaining assets (all controlled by debtors
and insiders will be used as leverage to weasel into positions at a NEW
ACQUIRING GROUP and the NEW group WILL NOT BUY THE DEBT . The debt has been paid through high % loans and shares that have been gifted .The remaining (on paper ) debt will be used by debtors as DEDUCTIONS on
future TAXES
If you look at total package of what passed -They are reducing the number of shares with the R/S -1st screw . 4 1/2 billion down to 4 1/2 million
(if 100/1 -could be 150 /1 ) Then the 2nd screw -increasing the shares
that can be used for "incentive " to 200 million . That appears to be
the next round of DILUTION to buy other acquisitions or GIFTS to themselves
They have in affect wiped out the present shareholders and opened up the next round of dilution for the SELECTED (chosen ones). The share reduction is wiped out by the NEW "INCENTIVE PLAN " The new number increases
the dilution ratio (but they think it can be done at a higher PPS level)
I suspect they will attempt to get the price up to PPS .03 - .035 where
they can force the warrant holders to exercise their warrants or be
eliminated -THEN the R/S to destroy them -then the next round of Dilution
under TOTAL control of the NEW shareholders. They already control all the
voting outcomes ;but , power always craves more power and control.
Yes they want to build higher rewards and business ;but not for the
average shareholder -SELF ENRICHMENT at it's finest ;but has to be done
within the interpretations and under the radar of the legal restraints
I found the answer to my question in the original S1 filing .The opportunity to exercise your warrant expires 3 yrs from closing of
offering ;BUT, the company can accelerate the close of warrant purchase
if the PPS goes above .03 for 10 days and also forcefully buy back your warrants if the PPS goes above .035 (the warrant is par value .0003)
that means they can limit your time line for purchasing your warrant shares
and limit your profit % on the .024 PPS to basically 20% (.03 PPS))The company can force you into a position of exercising your warrants and THEN
doing the R/S -wiping out your purchase and closing all the warrants.
They can also close down the warrants then R/S -it's NOT your choice
What period of time can the future warrants be exercised -what I'm trying to get to -is their a cut off date after which the warrants expire
(like options to buy stock -as the board members have ) I vaguely remember an exercise date in the initial intro to the offering ?????
So does that mean their purchases at 1.8pps and 2.4 pps are now subject to the R/S .That's what I thought -is that accurate ? ?
Did they have to pay for warrants now or HOW MUCH TIME DO THEY HAVE TO EXERCISE WARRANTS rights ??
sorry 2.4
I forgot -What is the cut off date for each of the people who took offering ,to purchase their options- the time period to purchase the 1/2
at 1.8 and the second 1/2 at 2.3 That must be exercised by what date?
What makes you think the PPS will rise proportionate to the share reduction ratio ? They are not reducing the number of future shares
by the same ratio as the R/S . They are also allowing a higher number
of future shares for sale or USE -if you look at the new number of
shares for USE and sale ,it actually amounts to an increase in the
authorized shares for USE (cash wise) ;but at a higher cost PPS . The PPS did not
rise to the offering level and the negativity of the R/S , all point
to a PPS way below the proportionate ratio change .
Yes it will expand the thinking toward hemp -an industrial plant that
is produced foe SIZE and FIBER ( mainly outdoors). This helps open thinking to MJ ;but PHOTS base is for INDOOR growing and a different
purpose. This will require COMPLETELY different legislation and deregulation . It's edging it's way forward and it helps that the tobacco
industry is INVESTING in MJ companies . Sen Mitch McConnell is from a
tobacco growing state-the resistance is decreasing and finances are
forcing this forward.
Interesting the spin put on this vote. If you look on MH's twitter acct,
you will see that most of the propositions put forward got approx. 16-20%
votes of O/S (that's counting yea and nay) with the only propositions
reaching billions were for R/S and keeping the present accounting firm.
NOT THE 90% participation claimed by MH - RIGGED AND HYPED -we all
knew this was coming -there it is in black and white. The question is
when he will implement R/S so that maximum # number of people lose their holdings and he can clean house and start dilution all over again.
The ratios are STILL not announced and what will the PPS have to rise
to so shareholders stay even ???? NOT HAPPENING
After the obligations to offering holders and shares committed to
debt holders -how many(OS) shares short of the authorized 6 billion do we
stand . The offering fell short and that potentially means there are still
shares of the 6 billion left for MH to PLAY with. The offering was structured to take it to the limit. If the offering fell short-that leaves
shares ???? I think the R/S may come after MH uses up all the 6 billion
and can then chop it down to those investors and start the DILUTION
all over again .
An indication of the LARGE companies entering the MJ market was announced today. Other large companies have invested in MJ ;but this is entrance of
the tobacco groups . This will expand buyout fever.
ALTRIA group bought a 45% share of Cronos for $1.8 billion and is expected to increase that holding to 55% in future
yes -3-4 wks ago and voted through schwab's handling agency
So Billy -does that mean they can keep that hovering over the shareholders
as long as they want and implement it when it is best (again ) for management . Look how long the 6 billion authorized share scam played out .
When the R/S approval is passed and the board can initiate this action at
their discretion -how much notice do they have to give ,as to when that
R/S will actually occur ?
I will be curious to know -those who may have paid money for the buy in
-if the offering is canceled -how long will it take to get their money back
"held until practicable at no interest"
Tomorrow will show the screw job to his "great shareholders" .
The next dilution train starts when he has essentially eliminated his
"loyal shareholders" by R/S and taken the recent $$ for shares and reducing their holdings by R/S -THEN COMES THE NEXT ROUND OF DILUTION
TO A NEW CROWD -all to pay self enrichment and maybe even a new position with a buyout group which can put him in charge of a division , The company will be eliminated and the ?? PATENT ?? may be the door in to his new job - The debt holders have taken their money all along with sale of their discounted shares and high interest loans -all others will lose
their money except the flippers who accurately got in and out at the right time.
SOCIOPATHS feel NO remorse or GUILT for their actions. He will keep this going until some authority or people step in to stop him.
USA paper had a news blurb today - Credit Union in Alaska has launched a pilot program to give loans to MJ production companies . They say they want to bridge the gap created by lack of banks performing that role .
This potential change in the farm bill doesn't involve MJ produc3ed for
chemical content . IT IS FOR production of HEMP fiber which involves, in
most cases , large outdoor growth plants for fiber content . It may
produce more hemp growers, that may evolve to expanded interest by them
into other aspects of the MJ growth market ;but this will take different
legislation or rule changes toward legalization -the added pressure will
help . The bill was sponsored by Mitch MC Connell -Kentucky -they have much to gain.
Neight - a little side bar -when PHOT announced the acquisition of the tile company in your area ,didn't they state that they had a building
of 100,000 + sq ft -which gave the impression of LARGE thing 's for the future . If you look on their latest filing -it states that they are paying rent on 5,000 sq ft -that is a manufacturing facility about the size of a Ma and Pa circle K or 7/11 store . The office in Kirkland is also minimal rent and in an EXPENSIVE area by Seattle -we know it is just a rental Drop box ,through a person on this board going out physically and reporting back . about 1 1/2 to 2 years ago . Smoke and mirrors has become very expensive
Received my proxy vote forms for DEC meeting from Schwab -they use
use www.proxyvote.com for their online vote capabilities. You need your access #. My point is, regardless of the seemingly foregone conclusion
if you want something on record regarding this vote and future activities
VOTE ! Maybe MH will take note of enough shareholders feelings and that
maybe can influence the ratio of R/S -if not- can show disregard for
shareholder feelings ???? Your avenue to vote may be different ;but you should have it or receiving SOON
I totally agree with you . But putting it in terms that doubters can
decipher it on their own terms
Your shares may not be delivered BEFORE close of offering and thus can't be sold for the meager .006 gain or .012 gain . The company states the shares are unregistered and may not have a market -they CANNOT be traded by your broker until delivered
There are many TIME and gain restrictions which could put a stop to your
ability to activate your plan WHEN YOU WANT
This reverse split is NOT going to be a small one =somewhere between
100/1 and 150/1 . The company also has the ability to pull the rip cord
and stop you from gaining more than .006 on the .024 warrant
and .012 on the .018 warrant . They can also extend the offering time
period if they don't acquire enough takers and reduce the number of shares you can buy if they get too many takers. I also like the direction going
to acquire companies and building base ;but question whether the NEW
monies will be used for that or SELF ENRICHMENT, as it has in the past .
The R/S looks like it is just setting up the next round of DILUTION
for acquisitions - they are asking you to vote for expanding their
use of shares for that purpose -in the vote for DEC annual meeting.
Irrevocable by you the purchaser -Totally revocable from PHOT-and many ways to do it -while they HOLD your money and return "when practicable"
They can elect to use their acquired money for "GENERAL CORPORATE FUN-CTIONS" and not acquisitions or closing of debts. (SALARIES)and bennies
Read the listed RISK FACTORS -they also have the ability to cancel your order ,while still holding your money and that money will be returned "when practicable after closing of offering .they can extend the time close of offering and hold your money the whole time and cancel your order or if price on market rises above .03 ,they can cancel and reset pps charge. That means if they want ,they can hold your money as long as they want ,by extending and then cancel you if they can get more pps. they can also by warrants back at.001 -at their discretion -STATED
sorry my posts #113221 and #113228
I had same question and some of the repercussions -see my posts #113221 and # 113262
I have received info and contact from Schwab
I don't know whether these are usual risks ;but this companies financials and history to shareholders are not usual and this is all to be followed by a R/S split -kiss of death
READ THE RISK FACTORS ON PROSPECTUS ****** . It's long but VERY clarifying
Especially from page 17 on .
They have the RIGHT to change the warrant pps after you have purchased
the offering if the pps goes above .03 for 5 days and give you 30 days notice AT THEIR DISCRETION . They will hold your money (paid up
front) -with no interest and return WHEN it IS PRACTCABLE -with no recourse
The management has the right to switch the use of NEW funds (offering )
at their discretion, " use for corporate function ", (SALARIES) and NO recourse for PROMISES made . They can cancel your warrants and pay
back held monies when practicable or pay warranties at .001 stated value
at their discretion.
The debt holders CHICAGO and CANNX can reject offers and potentially takeover control and hold PREFERRED shares
The warrants CANNOT BE TRADED and your acquired shares may be delayed
,for SALE BY U, UNTIL DELIVERED -which could be Delayed due to no SET
market or agency for Unregistered status.
I have CHECKED with SEC and FINRA and they DO NOT monitor these companies
until notified of unscrupulous actions and then it may be 2+years process
before decision .
We holders would like to hear POSITIVE statements; but that doesn't mean
shutting out REALITY.
WHY ARE ALL THESE RISK FACTORS STATED CLEARLY-for their legal protection
,somebody MUST be thinking that these are possibilities -protecting
themselves for possible decisions on their part.
MH's warrants to buy 18,000,000 (X3) shares at .012 vest on 10/15/18 ,10/15/19,
and 10/15/20 -as per my previous post -what buying power does this give him into future if there is a R/S -99.99 % sure . Does the offering give
the buyers (giving up there CASH before 11/12/18 ) the same opportunity for
future or is this a red light showing YOU that they want your cash and then put the knife in your back while taking over COMPLETE POWER OF
SHAREHOLDER'S EQUITY I am asking this for transparency and not the smoke and mirrors BS .I think MH needs to do some true TRANSPARENCY not just positive hype . There are those on this Board that profess to have a
GOOD speaking (tweet or verbal)relationship with him. Would you please
ASK him answers or explanation to these questions and let us know his
RESPONSE. (his acquisition of future shares will be covered by his salary
and not really a CASH outlay).
Can the shares bought as part of the warrant be bought at the OLD
PRICE AS STATED ,IN QUANTITY AND PRICE OR DO THEY CHANGE PROPORTIONATE TO THE R/S . Does the quantity change to YOUR NEW share holding post R/S
reduce the # of shares you can purchase( warrant portion) -if done post R/S (50% +50%
of your holding at time of exercising offering). IF the R/S occurs (which it does )separately after your exercising OFFERING does your NEW reduced # of
shares now change to the NEW reduced number you are eligible for buying
(at old price ) . Sounds like a legal LOOPHOLE for share buyers ?????
Please ANY COMMENTS
Curious to get an answer . As the OFFERING presently states "the warrants
can be exercised over the next three years . Does that mean that the warrant holders who take the OFFERING can purchase the future shares at the 2 prices stated, after the R/S or does the company have an escape clause from that obligation ? If those shares can be purchased at that rate after the
R/S -it may give a temporary period that the share price may rise considerably (reduced quantity ) before it again falls . If the shares can be bought and sold within that period -possible good flip window. The
shares are unregistered and I don't know the restrictions placed on their
sale . The original prospectus states restrictions ;but I can't discern
all the legalize .
One big factor to be considered is the RIGHTS purchases are for CASH into the company. This giving of shares does NOT bring in CASH -it is shares given as part of the BLUE SKY purchase price for EZ clone . Yes it seems to be a good addition to PHOT as part of the purchase ;but they also received CASH and the shares are part of the purchase . We don't know the BOOK value of EZ clone and whether that was on the rise or falling after an exceptional year ? The quarterly will hopefully provide some of that info . It should show revenues (a way of increasing overall receivables
for PHOT ) Let's see what additional debt has been bought to increase
PHOT's overall ,on paper ,receivables and what part % of EZ clone
receivables are collectable -I'm sure that was part of the negotiated
sale price and taking of risk on both sides -
I guess it could be lyrics to a song
Share price is only as good as WHAT it will trade at : the equivalent value is on paper based on assets -the true value is what it can be sold at