emeritus
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Corporate owns and operates 4 labs outright. The licensees and the joint ventures are not part of what they do day to day. The frightening thing is that Glauser - she of the actively engaged in a coverup involving a lab and licensing inspectors - is now “in charge” of opening the labs in Southern California. It’s like the Catholic Church shipping pedophile priests from the parish where they abused children to another one across the country and just let them keep on priesting- with no one the wiser. That’s the level of fiduciary responsibility that this Managemt has for shareholders. Inspires confidence, doesn’t it? If you can get past the obvious contempt that waldrip and Glauser apparently hold us all in. #suckers
Glauser was accused by the OLCC, along with EVIO’s Chief Scientific Officer Anthony Smith, of pressuring and encouraging employees to conceal the practice of taking home the samples.
https://cannabisnow.com/oregon-cannabis-lab-surrenders-2-licenses-to-regulators/
In 2017, we had some employees that were taking waste product from the lab and taking it home for personal use,” Glauser said. ”So that’s what happened. OLCC didn’t like that obviously. They proceeded to submit some violations.”
Oh. And I’d love to hear the rationalizations for last week. Price jumps 30% in one day on 3x previous 30 day volume. after the previous weeks 30% creep up. While the shareholders who bought in for a dollar or more six months ago rejoiced. Those of us living in reality wondered how in the f*ck those kind of increases on huge volume occur when a company is 6 weeks delinquent on publishing their year end financials, has put out no press releases nor an 8k informing of material business? Lost two licenses the previous month due to significant negligent behavior by a founder/ senior company officer? How does that happen? Insider trading? Leaks to “friends & insiders” #wtf
Probably half of the filings have been late in the last three years. The COO Lori Glauser providesd staff in Oregon with the half of cannabis samples that should have been destroyed. Then actively worked to have them conceal those actions from investigators. Resulting in the loss of two licenses they paid over $1,000,000 for. Only avoiding huge fines because they made the wrong call on a business model and were consolidating. Then she shows no contrition or recieved any internal penalty or was fired. Rather than the CEO show leadership and take responsibility for his team. He sends the person who committed the crimes to respond public ally and she glibly said they were closing the labs anyways. So who really cares yada yada whatever
They have no investor or media outreach. They don’t communicate with shareholders in a meaningful or timely manner. They closed down a lab they bought in yuba city and didn’t inform shareholders for months. We found out in a news story written about another subject with a passing mention of it. There are three executives - waldrip Glauser smith earning $420,000 a year running a business with 4 labs. Only 4 labs. And they can’t updTe their website to be current on staffing Their linked in. Their social media. They have zero investor out reach. They don’t have an internal investor relations team. They don’t have an outsourced investor relations team. We can assume there are lab directors and lab techs for the four labs operating. So what exactly are the three executives doing for their huge salaries - relatively speaking - for a startup. The financials will be 43 days late on Monday. They’ve been through 5 FIVE CFO’s in the past three years. The list is actually much longer of the collection of errors, oversights, mistakes and fuckups - but their fan club gets real triggered when all of the details are hilighted.
It’s not a question of if they screw up and knock another couple three million off the market cap. But when.
Awaiting 10K 2018 4Q Financials - 40 days late as of today 2/8
There’s the kind of speedbumps in a Ralph’s parking garage and then there’s the kind in front of a secured military facility. At 20 mph the difference is vast.
I believe that nothing can happen until the 10K year end financials are published. After that. To move forward and gain access to those types of opportunities the board of directors is going to have to make some tough decisions about management - whether the team that got us here, is the team that can lead us forward to success. I’m not confident in the current leaderships ability to do that. As evidenced by the current mess of... just about everything. Managing simple details, delegation of simple tasks, adhering to market norms, requirements and regulations. Does the sector in principle have potential? Sure does. Is this the leadership group to see this deal fully realize that potential. Not likely.
Yes. The Q1 2019 earnings for the period 1/10 - 12/31 are scheduled to be released on 2/15 - the problem is that the 10K for the YEAR 9/30/2017 - 9/30/2018 have NOT been filed. The Q1 cannot be released until the previous years financials have been published. Unless the 10k is released in the next 7 days evio is going to have two very big problems that the OTC the SEC the OSC and many others are going to have issues
No 10k - No 8k - No PR - 30% up this thing is such a mess - out of control - it’s not an acrobatic flight it’s a plane about to hit the mountain.
Who knows. No financials filed. No news published. No 8k filed. Delinquent filing status. Yet, Somehow it’s up 30% in one days trading. No insider trading / leaks of news to preferred friends or insiders or anything like that going on here. All above board legal activity. Just another lucky day on the otc.
It won’t matter if evio doesn’t file their 10k in the next 7 days they won’t have a business to operate - between delisting and the lawsuits their hands will be full. Priorities. priorities.
Yep. Combined with mm manipulated support because of Waldrop’s inability to deliver financials. Either way of the 10 does come out all this “support” will likely vanish. And if the 10 isn’t filed by the 15th it won’t matter. But the forensic trading audit by the attorneys should prove very interesting.
If the 10k isn’t filed by next Friday, when the next 10q is due - the fireworks generated from the crossed streams of two consecutive unfiled financial reports will make that pretty much impossible. Dealing with the fallout from the exchange, sec, lawsuits etc will be their first and only focus. Outside of operating the existing labs the only focus of the corporate team should be on getting the 10k out before next Friday. If it isn’t. Evio is finished.
Could be referring to the “costa mesa” lab they had on their website for months that never opened and that has now “vanished” to be replaced by two labs apparently in Los Angeles and Palm Desert that have no phone numbers and vague references in press/ on their site to license applications ongoing and “opening soon” they have been counting these non operating labs in their announced lab count total for months now. Same with massachusetts - it was an operating lab that moved. According to the last 8k they are working at the facility to get it open for months now. I have called there three days in a row and there is no answer or even a voice mail identifying whether it’s even the right phone number or what the opening status is. Which seems really strange because as a previously operating lab business you’d think the simplest thing to do for a legit operation would be to have ANYONE answer the phone/ put it on call forwarding/ have a voice mail to advise current clients/ potential new clients/ investors/ media that it’s the right number/ email us here for more info, anything! But it’s evio. Pretty much par for the course. 1 week to total meltdown.
Evio corporate can’t afford an auditor, accountant or chief financial officer to file their books on time at this point. First have to learn how to tie your shoes before you can run in the race. And even then, evio corporate seems like the cross eyed kid who once they learn to tie their shoes, it ends up they have the shoes on the wrong feet and their shorts are on inside out who show up 12 hours late at 9pm for a 9am race convinced they’ve won
There is no answer at the Massachusetts location. No voice mail set up. So that’s not cash flowing now or likely anytime soon.
They can do PR’s - but this is evio, run by Waldrop and Glauser. You seriously believe they would have the thought to inform shareholders? Their Instagram account still has their corporate address from a place that hasn’t existed for two months after their corporate officers were responsible for the state of Oregon seizing thir lab licenses and abandoning the location over two months ago ... their website lists a President and his bio even though he left the company over 6 weeks ago. They can’t manage to file their year end and their 10Q is due in 9 days. Who has time to think about Press releases! They’re busy running the company, straight into the ground.
John Sculley & Kay Whitmore
Evio Florida needs to buy out evio and put the current management team out to pasture.
10 days to 10q due - anyone know what happens if a company overlaps a late delinquent year end 10k filing with a late unfiled 10q? My understanding it it means two gold stars from the sec and Ice cream sandwiches from the listing exchange along with participation trophies that are 4 feet high for every person on the management team from the compliance attornies PLUS a bonus of another 10% price increase in the stock, just because EVERYTHING IS AWESOME! but I could be wrong. Any help on the answer to this would be greatly appreciated as I know that so many more posters on this board are so much smarter and experienced than I am on small cap public companies. Thanks in advance! Glta
EVIOLabsMA@eviolabs.com tel:(508) 485-0578
40 Speen Street, Suite 301
Framingham, MA 01701
(
“What is the status of the Company’s annual 10K.
A1. The Company is currently working diligently towards completing the 10K for the fiscal year ended September 30, 2018. The delays are directly attributed to the significant number of acquisitions and related audits of which occurred during the fiscal year. The company during this timeframe also completed an accounting system migration from 11 sets of quickbooks to a new accounting system which permits the automated consolidation of all the Company’s subsidiaries both in the United States and Canada.
Q2. “Why did the Company retract the Canadian Stock Exchange listing and will it reapply?”
A2. The Company retracted the application with Ontario Securities Commission (“OSC”), which was filed with the intent of listing on the Canadian Stock Exchange, as a result of an outstanding audit associated with prior acquisitions. The Company has every intent to resubmit a Prospectus to the OSC once our 10K has been filed.
Q3. “What is the Status of the Massachusetts Testing License?
A3. Upon receiving the provisional license form the Massachusetts Cannabis Control Commission (“MCCC”), there were a few required items to be completed prior to receiving the Permanent License. This include the updated accreditation of the equipment in the new facility. We just completed our tenant improvements and are awaiting final occupancy permit. Upon receipt we will complete the equipment validation and will notify the MCCC of our readiness for final inspection.
I read the article. But nobody on here got the point. It doesn’t matter. Nothing changes. #whatever
Evio Beauty Group Prepares to Launch Cannabis-infused Line
https://investingnews.com/daily/cannabis-investing/evio-beauty-prepares-cannabis-infused-line-launch/
Seeing as it’s their corporate HQ - yeah it’s a big deal. What kind of management team operates an organization that can’t even find the simple common organizational skills or sense to update the address of the corporate HQ? I guess one that has senior officers counseling staff to cover up crimes leading to the loss of two licenses that cost hundreds of thousands to acquire in stock and cash. And has delivered like 6 of the last 12 quarterly / annual filings late. Who cares. Let’s pretend it never happened. Ok Waldrop.
The conspiracy of the evio 2018 10-k leading to the conspiracy of the delinquent filing status leading shortly to the conspiracy of the -E status and the conspiracy of the Caveat Emptor / Skull & Crossbones. Yep you nailed it Alex Jones. It’s all our fault their website still has the President up and listed even though he left 6 weeks ago. Vast conspiracy to not update ANY of the evio IG TWT LinkedIN pages with the current HQ address. No updates on any investor interest access. Yep. We the vast conspiracy are crushing it. 2$ a share or Waldrop/Glauser fired and in prison for fraud
Evio Edgar http://google.brand.edgar-online.com/?sym=EVIO
Waldrops email will@eviolabs.com
Glauser email lori@eviolabs.com
Good thing that nobody reads this board then. I think the cluster cuss of hot mess that Waldrop and Glauser have managed to create resembles something left in a toilet after a night of cheap draft beer and burritos at a college bar and certainly not a Jackson pollock. Currently exploring class action options. Attornies are excited and confident of certification. The pattern of behavior is damning.
They have 15 days from the sec after the first 15 days of grace. At a minimum there will be an -E designation attached and a skull and crossbones caveat emptor symbol. You believe that a company can wantonly and irresponsibly manage their affairs and more importantly responsibility to shareholders and there won’t be severe penalties?
Currently the companies instagram and Twitter still have the Bend Oregon address as their HQ - a. It’s whete they haven’t had ANY presence for over a month. I’m not sure that it’s even legal. The evio corporate website currently has the President as Al Lustig. A man who left the company over 6 weeks ago. Six weeks ago. The companies bio for Lori Glauser mentions the companies goal of 18 labs in 2018. The companies website bio for chief science officer, Anthony Smith - makes no mention of what his responsibilities or any indication of what his job actually is. The companies website “investors” page currently has no way for an interested investor to make an inquiry
The company hasn’t made a Twitter post since Jan 2 - they have made 2 auto reposts on their Instagram in that time. The companies linked in page hasn’t been updated in a month, and still lists the HQ as in Bend Oregon and not Henderson Nevada.
They fired/let go/ resigned a CFO late last year without any thought to preparing their year end financials. They are a hot mess. There are obviously far more issues going on internally than we can see to have after three years of business no internal mechanism to monitor any of their social/business/web media properties.
The encouragement of COO Glauser and CSO Smith of employees tonengage in illegal behavior losing two licenses. Yawn. They are so out of touch. They have no accountability to shareholders. They operate in a vacuum as though it’s their own private company. It’s a hot mess
The total lack of attention to details. And since I’ve emailed and posted about the addresses on social media they either just don’t care or don’t even bother opening emails unless there from insiders. Totally cocooned and living in a fantasy world this team is a disaster. Convince me otherwise.
Tick Tock - $evio has till close of business today to file year end. Now one month late. Massive incompetency bordering on criminal negligence has brought them to the brink of bankruptcy with senior management engaged in advising employees to lie to regulators and self sabotaging by the CEO sees cash reserves dwindle and clients flee while he balloons to 300 pounds while he drinks himself to death and shares collapse.
Look at their photo shoots, their website, their media articles, their shimadzu relationship. Everything that evio waldrip/glazer is not.
If a company with no independent board of directors, led by a CEO with a trail of broken promises, a penchant for shareholder dilution, has no communication strategy with current shareholders, no outreach program to gain new shareholders, appears to hold shareholders in contempt, two senior officers who actively encouraged staff to break the law and keep quiet about it resulting in the loss of two licenses that cost millions on stock and cash to acquire - and apparently gave no repercussions or admonishment from the CEO or board of directors for said malfeasances, who regularly can’t deliver timely financials, who cycle thru executive staff - cfos, President like Cheetos, can actually mine gold, then everything is awesome.
Meanwhile we the shareholders face the countdown to the pink sheet delist imminent in two days because management can’t manage delivery of the year end financials.
Oh and their social media sites still list their corporate HQ in a city Where they no longer have an office, lab or staff. In fact the HQ is now in another state. But they don’t have a single staff member that’s even noticed, or cared in the past month to update it.
Refer to tarballs epic quote: “management couldn’t get la*d in a whorehouse with a fistful of 50’s”
It’s been over a month and $evio twitter and instagram still identify that they are based in Bend, Oregon even though the lab there is closed and the COO Glauser has relocated to Southern California. Really taking care of the details to foment investor confidence. Since Waldrop’s personal twitter still refers to him being the founder of signal bay and to click thru signalbay.com - a name change close to two years ago - par for the course in keeping those real complex details of company structure up to date. It would be hilarious if not so unprofitably evident of the level of management not having a clue. #wtf
There are other consequences imposed by the Exchange Act. Rule 12(b)-25, for example, says that if a company doesn't file a quarterly report within one business day of the due date, it must file an official notification of late filing explaining the reason why. There is a grace period of five calendar days for quarterly reports and 15 days for annual reports. If the company files within the grace period, it may be considered filed in a timely manner by the exchange, and this is important, because it affects the company's filing status for a period of at least 12 months. The company will not be allowed to file a short-form S-3 registration, which in turn limits its ability to make certain securities offerings.
For OTC stocks, companies that have failed to file timely reports three or more times in a two-year period cannot be quoted by FINRA-member broker-dealers.
If the company you own shares in has just missed its earnings deadline, it may not be reason to panic and dump the lot right away, but it should be a signal to watch it closely. You do not want to be left holding the bag if it turns out that the financial statements were delayed for a disastrous reason, such as accounting fraud
Most reporting companies submit their periodic reports in a timely manner. However, some reporting companies fail to submit periodic reports, file materially deficient periodic reports, or do not submit the reports in a timely manner. The timely and complete submission of periodic reports provides investors with information to help them make informed investment decisions. The SEC's Divisions of Enforcement and Corporation Finance jointly established the Delinquent Filings Program in 2004 to encourage reporting companies that are delinquent in filing their periodic reports to submit their periodic reports or rectify deficient periodic reports. The SEC's Delinquent Filings Group in its Division of Enforcement conducts investigations into possible violations of the federal securities laws' periodic reporting obligations, and prosecutes administrative proceedings against these companies when appropriate. The Division of Corporation Finance identifies reporting companies that are delinquent filers and usually provides them with notice of their failure to submit periodic reports. If a reporting company identified as a delinquent filer fails to submit its periodic reports, the SEC may revoke the registration of the reporting company.
Section 12(k) of the Exchange Act gives the SEC the authority to suspend trading in a security for up to 10 trading days if the SEC believes that a suspension is required to protect investors and the public interest. A trading suspension by the SEC halts the trading in a security on all trading platforms (e.g., national securities exchanges, over-the-counter market, or alternative trading systems). In addition, Section 12(j) gives the SEC the authority to revoke, or suspend for up to twelve months, an issuer's securities registration if, after an administrative hearing, the SEC finds that an issuer violated the Exchange Act by failing to file its periodic reports.
Keep up the good work Waldrop. Rationalize your incompetence away. The market is watching even if the clowns on your board are still buying your lame excuses.
The difference between $180k a year in salary that should have been what they took for the “brain trust” of this operation and the $420k a year they gave themselves is $240k this past year they could have used to pay down any of the toxic notes that they let mature to further dilute shareholders - or for any other other of the general expenses. Or for the millions lost when the illegal actions of Glauser’s and Smiths actions that cost the two licenses in Oregon. Or how about an auditor that sees filings in time and not going delinquent bordering on a skull and crossbones in three days. Or how about an IR program to generate interest and new shareholders? Nope. They decided to get theirs while they could. And screw the structure or enhancing shareholder value or demonstrating leadership. It’s no wonder there is a new posting on indeed.com almost every week for employees. It’s not because they’re growing but because their entitlement is toxic and leads to employees disgusted with their management. See the exit of the president and CFO - never mind the turnover of grunt techs at the Labs - the latest being for a lab director in Berkeley. That’s like the third one in the last year. Must be “market conditions” and not a micromanaged toxic workplace run by ego-driven know-nothing incompetents driving talented people from this deal. Right?
It’s a startup. They between them hold MILLIONS of shares. 50% of them. The incentive of he founder of a startup is not to loot the company as fast as you can for a measly $35,000 a month short term. It’s too increase shareholder value and make $25 million each long term. But as they have zero experience in operating a public company between any of the three of them Waldrop, Glauser or Smith how would they ever understand that simple truth. And justify looting the treasury of sorely needed funds
And a “chief science officer” $120,000 a year. Whatever he does. How about $60,000 a year for a non profitable startup? How about paying down debt as promised to protect the share structure as promised? What are the priorities of a management team barely two years from startup facing an uncertain future whose sole job is to enhance shareholder value timing their HUGE raises the day the funding closed 5 weeks before announcing it publicly? Pretty clear they weren’t thinking about the future solvency of the company or enhancing shareholder value and solely focused on looting the treasury. If they weren’t they would have taken 60k and way more stock.
I can also guarantee you that the car allowances are for the operating costs of whatever $80,000 plus luxury vehicles they used their new guaranteed salaries to lease.
When this goes skull and crossbones pink delist inevitably on Monday I’m with humanchessmachine on the class action suit.
Those were delivery trucks for their Oregon locations. They used their new big gauaranteed contracts to take out leases on brand new cars and used shareholder money to pay for the expenses.
$420,000 a year in salaries and $1600 a month in car allowances. Don’t forget Smiths 120,000 a year and $350 a month car allowance. all published the day they closed the raise. 5 weeks before they announced the successful raise to the public via PR. Never paying off one single outstanding toxic debt note as promised in the prospectus 8k. Benefitting themselves and screwing shareholders. Get it. $420k a year. Shareholders are Suckers