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I agree with your opining that Mona needs to “completely excise himself from the corporate structure of CVSI”.
I also believe there’s a long list of other reasons why no uplist has occurred nor ever will occur unless changes are made. The proof of the tasting is in the pudding. 5 months and 24 days since the uplist application was filed
What is the current state of CVSI since 7/23/2018 (the uplist application date).
No uplist, far lower share price, severely decreased volume.
Spot on mate. This will never be uplisted to NASDAQ. NEVER!
No, NASDAQ is in charge of uplist’s. However all this information is relevant. Don’t you think if we as investors run a background search to get a feel for whom were dealing list NASDAQ during the DD period a doing the same and more? Ask Keely Moxley, if you don’t mention the company and present it as a hypothetical she’ll most likely be capable and allowed to answer.
It does show that and more. I sent it to you in a PM as to post the full document would show his birthdate and address which would be a violation of Erik’s.......I mean iHubs TOS
He could and should;
(1) Put his shares in a trust
(2) Leave his ego at the door and step away from this “Emeritus” position. It easily leads the scent of dirt directly to him when going through this required questionary period.
(3) Consider the same for his son who has the identical name
(4) Get as far away from the company as he can instead of playing puppet master.
He has a horrid record in the OTC as a P$D specialist. It’s been cited in Forbes, Bloomberg and other respected financial publications.
Lastly his numerous fraudulent business practices resulting in liens, judgments and lawsuits can’t be helping.........”dude”
This one for 17.8 million is just one of many. You don’t need the SEC to show you them, they’re all public record.
Again, Spot on. This poster knows exactly of what he speaks in regards to CVSI and it’s true market value and why. Amongst the many, countless and inumerable reasons are what he / she states in regards to the former CEO, i.e,
Spot on mate.
CVSI dropping very close to that $4.25 resistance mark. Another $.10 drop and it’s difficult to say how far it will fall just that it will fall. Much likes it’s continually doing only post $4.25 or lower only quicker.
Do you truly think CVSI is hiring a big CEO? Why would anyone of substantive value work for an OTC company that can’t be uplisted and whose recent CEO and largest shareholder refuses to pay his bills leaving a long list of unpaid judgments, Lien’s and creditors in his wake. This 17.8 million dollar one being just one of many.
The longer it goes between the CVSI application to become a member of NASDAQ the lower the chances of approval. Perhaps that’s why it’s fallen over 50% from its high of 2018 and is perpetually in the red in 2019 including today.
Former CVSI CEO Michael Joseph Mona III, now it’s largest shareholder has a myriad of problems and issues which will and has stopped any potential CVSI Uplist. Just one example, this whopper of a judgment, 17.8 million dollars he owes, refused to pay, was taken to court and is now part of a long list of nefarious deeds stopping CVSI from ever getting on a real stock exchange.
CVSI has has new and formidable competition from a company ON A REAL STOCK EXCHANGE with 38x the market cap and more cash in the bank then CVSI’s total worth. (CGC)
https://mjobserver.com/investments/stocks/canopy-growth-receives-new-york-state-hemp-licence/amp/?utm_source=D.M.O.%20Newsletter
Spot on mate.
Im not “getting played”, I’m up 1/2 a million, cashed out, paid the taxes and rebought in the $.15’s and $.16’s using the money I made from the company. Coupled with the millions of warrants I hold which can be excercised at $.28 anytime prior to 8/2021 I’m comfortable with everything John’s doing. He’s a 71 year old cancer survivor and founder of a group of other survivors. He doesn’t brag, is humble and quiet regarding his accomplishments and worth every penny and more in his job. He’s not in it for the money, he’s in it for the medicine. He’s never said otherwise and has always been upfront about our purpose and “silver bullet.” It’s a crapshoot but when we hit it, we’ll all be partying. Not only for the tremendous profits we made but more importantly the medicine we created that saves pain and lives. Perhaps you’re not concerned with that and it’s all about money, money money for you as you’ve never earned any working in the bilge of boats. Those who aren’t man enough to blame themselves for their lives of unhappiness always use logically fallacious ad hominem attacks against others to make themselves feel better.
GBLX has plans to rectify what you think you know. Just because you’re not privy to the ongoing inner workings doesnt mean they’re not happening. Perhaps a self examination is in order. Others have already done so and have formed their own opinions of your constant childish bickering from a newbie OTC investor. Perhaps that’s why you’re unaware of the Companies direction. They’re all above board and available to be found via public filings or simple conversations with the C-Suite staff. If you can’t get access to those people it may be because they’re busy doing what’s required to run a public company or perhaps you get more with honey than vinegar.
Regardless for a company in which you’re allegedly invested you spend an inordinate amount of time commenting over and over of your unhappiness. Poor, poor pitiful you. Brrrrr it’s cold now in Las Vegas. Thankfully I’m on the inside as oppossed to the outside.
Each and every prediction regarding CVSI made here has proven incorrect.
Carl, that’s a reasonable question asked in a gentlemanly manner. Here’s my answer. It is because CVSI (or any company trying for an initial listing or fighting a delist) has the right to review any and every question NASDAQ may raise presented by CVSI (or any company). For each and every item raised by the company during a protracted application such as this one, much of the delay in investigating and resolving the issues can be caused by the company, and not due to issues beyond the company’s control. As a self-regulatory organization, NASDAQ is charged with the protection of investors and the public interest. If the Listing Council believes that allowing the company to list (or remain listed in that case) on NASDAQ, they have the responsibility to insure to the investing public a level of comfort with the company that would not be misleading. In the case of CVSI, once they’ve paid and submitted all documentation required for consideration and NASDAQ begins asking questions about PhytosPhere, Mona III, Fife and Iliad, Anton and Chia and all the fines, lawsuits, enforcmeant proceedings and accusations of fraud amongst other issues, there is a back and forth that can occur between NASDAQ and CVSI. After speaking with Keely (were on a first name basis now) it has become clear to me NASDAQ must go through this process in order to insure no one, particularly the company can say they didn’t look deep enough or into every phase of every issue. This is more fully explained in NASDAQ Rule 5101 subsection II and beyond. I’ve read it, it’s detailed in its explanation, however at some point a ruling will be made. If you were CVSI and had the least concern your application would be denied it would be in your best interest to have the proceedings continue as long as possible. Taking not consideration it’s been an OTC Stock with a tremendous run up from the $.15ish level to $9.00 and now settling in the $4.50 range you certainly don’t want to see it drop back any further. This is what I believe is happening during the current delay. You know why I believe eventually they will be turned down. There is simply too many red flags. Too many bad actors, too many enforcement actions, too many lawsuits in every direction you look. The former CEO, the former Financier, the Auditor, The new Agricultural Law. I think we can agree it’s not a clear, cut and dry case. I believe eventually they’ll be turned down. I also believe that Form IV is a preamble to those shares being sold. With a cost basis in the $158,000.00 range and a current market value in the $3,500,000.00 range wouldn’t you sell them if you knew there were doubts of an uplist?
CVSI Uplist Regarding NASDAQ Rule 5101 Line Item Review
5100. Nasdaq's Regulatory Authority
5101. Preamble to the Rule 5100 Series
Nasdaq is entrusted with the authority to preserve and strengthen the quality of and public confidence in its market. Nasdaq stands for integrity and ethical business practices in order to enhance investor confidence, thereby contributing to the financial health of the economy and supporting the capital formation process. Nasdaq Companies, from new public Companies to Companies of international stature, are publicly recognized as sharing these important objectives.
Nasdaq, therefore, in addition to applying the enumerated criteria set forth in the Rule 5000 Series, has broad discretionary authority over the initial and continued listing of securities in Nasdaq in order to maintain the quality of and public confidence in its market, to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and to protect investors and the public interest. Nasdaq may use such discretion to deny initial listing, apply additional or more stringent criteria for the initial or continued listing of particular securities, or suspend or delist particular securities based on any event, condition, or circumstance that exists or occurs that makes initial or continued listing of the securities on Nasdaq inadvisable or unwarranted in the opinion of Nasdaq, even though the securities meet all enumerated criteria for initial or continued listing on Nasdaq. In all circumstances where the Listing Qualifications Department (as defined in Rule 5805) exercises its authority under Rule 5101, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810(c)(1), and in all circumstances where an Adjudicatory Body (as defined in Rule 5805) exercises such authority, the use of the authority shall be described in the written decision of the Adjudicatory Body.
Amended June 16, 2009 (SR-NASDAQ-2009-052).
IM-5101-1. Use of Discretionary Authority
To further Companies' understanding of Rule 5101, Nasdaq has adopted this Interpretive Material as a non-exclusive description of the circumstances in which the Rule is generally invoked.
Nasdaq may use its authority under Rule 5101 to deny initial or continued listing to a Company when an individual with a history of regulatory misconduct is associated with the Company. Such individuals are typically an officer, director, Substantial Shareholder (as defined in Rule 5635(e)(3)), or consultant to the Company. In making this determination, Nasdaq will consider a variety of factors, including:
• the nature and severity of the conduct, taken in conjunction with the length of time since the conduct occurred;
• whether the conduct involved fraud or dishonesty; In the cases of Mona, Fife (“Iliad”) and Anton and Chia this applies. Mona committed fraud, paid restitution and voluntarily took a 5 year suspension. Fife (“Iliad”) is even more clear. Have a look;
As previously mentioned the CVSI relationship with John Fife (Iliad) a well known OTC toxic death spiral financier is yet another strike. Look at all the lawsuits and SEC regulatory fines and suspensions of Fife.
https://www.sec.gov/litigation/litreleases/2007/lr20250.htm
https://www.sec.gov/litigation/litreleases/2007/lr19972.htm
https://www.sec.gov/litigation/admin/2007/ia-2636.pdf
https://www.sec.gov/Archives/edgar/data/1379699/000114036115001204/doc1.htm
Sometimes Fife used his wife until she was permanently barred from any position by the SEC in 2015;
https://brokercheck.finra.org/individual/summary/
Fife himself was suspended by the SEC in August of 2007 which included his having to pay a hefty fine. The suspension was for a minimum 18 months before he could apply for reinstatement.
https://www.sec.gov/litigation/litreleases/2007/lr20250.htm
Fife works under numerous corporate veils. In addition to the Iliad LLC he used to loan CVSI money you will also find him making toxic, death spiral convertible dilutive loans under the names; Tonaquint, Tangiers, Chicago Ventures, JVF Holdings, Inter Mountain Capital I Inc and Utah Resources.
In the case of Anton and Chia it’s even more clear; The SEC disciplining CVSI’s accountant and auditor Anton and Chia is stated below as this clear fraud and discipline
http://www.lexissecuritiesmosaic.com/gateway/sec/admin-proceeding/34-82206.pdf
• whether the conduct was securities-related; It was
• whether the investing public was involved; They were
• how the individual has been employed since the violative conduct; Taking the “emeritus position and placing his son in his position clearly violates this section
• whether there are continuing sanctions (either criminal or civil) against the individual; There are, a 5 year suspension
• whether the individual made restitution; Did he?
• whether the Company has taken effective remedial action; and
• the totality of the individual's relationship to the Company, giving consideration to:
º the individual's current or proposed position; Again, the “Emeritus” position and placing his son in his (Mona III’s position making Mona Jr violates this section
º the individual's current or proposed scope of authority; Yet again, the “Emeritus” position and placing his son in his (Mona III’s position making Mona Jr violates this section[/b
º the extent to which the individual has responsibility for financial accounting or reporting; and
º the individual's equity interest. Hes the largest shareholder, he’s taken the “Emeritus position and he’s placed his son in his prior position. This is certainly not “clean hands” nor “hands off.”
Based on this review, Nasdaq may determine that the regulatory history rises to the level of a public interest concern, but may also consider whether remedial measures proposed by the Company, if taken, would allay that concern. Examples of such remedial measures could include any or all of the following, as appropriate:
• the individual's resignation from officer and director positions, and/or other employment with the Company;
• divestiture of stock holdings; He hasn’t (Mona III
• terminations of contractual arrangements between the Company and the individual; or (This is the first clear yes.
• the establishment of a voting trust surrounding the individual's shares. Oooooops, back to NO (Mona III
Nasdaq staff is willing to discuss with Companies, on a case-by-case basis, what remedial measures may be appropriate to address public interest concerns, and for how long such remedial measures would be required. Alternatively, Nasdaq may conclude that a public interest concern is so serious that no remedial measure would be sufficient to alleviate it. In the event that Nasdaq staff denies initial or continued listing based on such public interest considerations, the Company may seek review of that determination through the procedures set forth in the Rule 5800 Series. On consideration of such appeal, a listing qualifications panel comprised of persons independent of Nasdaq may accept, reject or modify the staff's recommendations by imposing conditions.
Nasdaq may also use its discretionary authority, for example, when a Company files for protection under any provision of the federal bankruptcy laws or comparable foreign laws, when a Company's independent accountants issue a disclaimer opinion on financial statements required to be audited, or when financial statements do not contain a required certification.
In addition, pursuant to its discretionary authority, Nasdaq will review the Company's past corporate governance activities. This review may include activities taking place while the Company is listed on Nasdaq or an exchange that imposes corporate governance requirements, as well as activities taking place after a formerly listed company is no longer listed on Nasdaq or such an exchange. Based on such review, and in accordance with the Rule 5800 Series, Nasdaq may take any appropriate action, including placing restrictions on or additional requirements for listing, or denying listing of a security, if Nasdaq determines that there have been violations or evasions of such corporate governance standards. Such determinations will be made on a case-by-case basis as necessary to protect investors and the public interest.
Although Nasdaq has broad discretion under Rule 5101 to impose additional or more stringent criteria, the Rule does not provide a basis for Nasdaq to grant exemptions or exceptions from the enumerated criteria for initial or continued listing, which may be granted solely pursuant to rules explicitly providing such authority.
Adopted March 12, 2009 (SR-NASDAQ-2009-018); amended June 16, 2009 (SR-NASDAQ-2009-052).
In addition you have the FDA Issue as stated by FDA Commissoner Scott Gottlieb, M.D. says the passage of the U.S. farm bill, now called the Agriculture Improvement Act of 2018 since it is law, does not diminish the agency's regulatory oversight role related to cannabis-containing food and drink.
He says the FDA will be diligent in monitoring the hemp marketplace to ensure that makers of non-approved products are not making unsubstantiated medical claims.
Also, the Food, Drug and Cosmetics Act prohibits interstate commerce of food containing cannabidiol (CBD) or tetrahydrocannabinol (THC) since it is an active ingredient in an FDA-approved drugs
You also have the issue of GW and their use of CBD in what is now an approved medication creating Anti-Trust Issues.
The preponderance of the evidence based upon NASDAQ Rule 5101 in addition to other aforementioned evidence makes an uplist approval highly suspect and highly questionable. Why do you think it’s been 6 months, other companies have applied and been approved and CVSI hasn’t?
Due to all this history along with the reasons I list above I’m confident in saying they’ll be no uplist for CVSI, particularly in the near future.
The two most relevant facts regarding CVSI is this color which everybody’s getting used to, R E D and the fact Due to the deeply researched due diligence CVSI WILL NOT BE “uplisted”
Spot on! Taken with my own line item review of NASDAQ Rule 5101(Post #40427), along with the Food, Drug and Cosmetics Act prohibiting interstate commerce of food containing cannabidiol (CBD) or tetrahydrocannabinol (THC) since it is an active ingredient in an FDA-approved drugs. (Epidolex),
I am confident in saying they’ll be no uplist for CVSI, particularly in the near future.
Spot on!
How imminent is that CVSI “Uplist?”
Your prediction of “uplist” is one on the old and 6 months Faron the date CVSI applied.
There are a myriad of reasons why there is and will be NO CVSI “uplist”
They are;
(1) Michael Mona III and his recent fine for fraud and being barred from being in any position with any public company for 5 years,
(2) CVSI relationship with John Fife (Iliad) a well known OTC toxic death spiral financier is yet another strike. Look at all the lawsuits and SEC regulatory fines and suspensions of Fife.
https://www.sec.gov/litigation/litreleases/2007/lr20250.htm
https://www.sec.gov/litigation/litreleases/2007/lr19972.htm
https://www.sec.gov/litigation/admin/2007/ia-2636.pdf
https://www.sec.gov/Archives/edgar/data/1379699/000114036115001204/doc1.htm
Sometimes Fife used his wife until she was permanently barred from any position by the SEC in 2015;
https://brokercheck.finra.org/individual/summary/
Fife himself was suspended by the SEC in August of 2007 which included his having to pay a hefty fine. The suspension was for a minimum 18 months before he could apply for reinstatement.
https://www.sec.gov/litigation/litreleases/2007/lr20250.htm
Fife works under numerous corporate veils. In addition to the Iliad LLC he used to loan CVSI money you will also find him making toxic, death spiral convertible dilutive loans under the names; Tonaquint, Tangiers, Chicago Ventures, JVF Holdings, Inter Mountain Capital I Inc and Utah Resources.
(2) NASDAQ Rule 5101. Listing may be denied for association with individuals with a history of regulatory misconduct. Fully applicable. Not only has CVSI been affiliated and led by Mona who clearly qualifies as having a recent history of regulatory misconduct with CVSI but CVSI also was financed by John Fife (“Iliad”) Fife has a long history of regulatory misconduct.
(3) In a statement, FDA Commissioner Scott Gottlieb, M.D. says the passage of the U.S. farm bill, now called the Agriculture Improvement Act of 2018 since it is law, does not diminish the agency's regulatory oversight role related to cannabis-containing food and drink.
He says the FDA will be diligent in monitoring the hemp marketplace to ensure that makers of non-approved products are not making unsubstantiated medical claims.
Also, the Food, Drug and Cosmetics Act prohibits interstate commerce of food containing cannabidiol (CBD) or tetrahydrocannabinol (THC) since it is an active ingredient in an FDA-approved drugs
ROTFLMAO
Absolutely correct! There are other impediments to any CVSI “uplist.”
They are;
(1) CVSI relationship with John Fife (Iliad) a well known OTC toxic death spiral financier is yet another strike. Look at all the lawsuits and SEC regulatory fines and suspensions of Fife.
https://www.sec.gov/litigation/litreleases/2007/lr20250.htm
https://www.sec.gov/litigation/litreleases/2007/lr19972.htm
https://www.sec.gov/litigation/admin/2007/ia-2636.pdf
https://www.sec.gov/Archives/edgar/data/1379699/000114036115001204/doc1.htm
Sometimes Fife used his wife until she was permanently barred from any position by the SEC in 2015;
https://brokercheck.finra.org/individual/summary/
Fife himself was suspended by the SEC in August of 2007 which included his having to pay a hefty fine. The suspension was for a minimum 18 months before he could apply for reinstatement.
https://www.sec.gov/litigation/litreleases/2007/lr20250.htm
Fife works under numerous corporate veils. In addition to the Iliad LLC he used to loan CVSI money you will also find him making toxic, death spiral convertible dilutive loans under the names; Tonaquint, Tangiers, Chicago Ventures, JVF Holdings, Inter Mountain Capital I Inc and Utah Resources.
(2) NASDAQ Rule 5101. Listing may be denied for association with individuals with a history of regulatory misconduct. Fully applicable. Not only has CVSI been affiliated and led by Mona who clearly qualifies as having a recent history of regulatory misconduct with CVSI but CVSI also was financed by John Fife (“Iliad”) Fife has a long history of regulatory misconduct.
(3) In a statement, FDA Commissioner Scott Gottlieb, M.D. says the passage of the U.S. farm bill, now called the Agriculture Improvement Act of 2018 since it is law, does not diminish the agency's regulatory oversight role related to cannabis-containing food and drink.
He says the FDA will be diligent in monitoring the hemp marketplace to ensure that makers of non-approved products are not making unsubstantiated medical claims.
Also, the Food, Drug and Cosmetics Act prohibits interstate commerce of food containing cannabidiol (CBD) or tetrahydrocannabinol (THC) since it is an active ingredient in an FDA-approved drugs
That, along with my personal rule that I don’t fall in love with an OTC Stock and become a “long” unless I’m the principal, one of the principals, one of the principal financiers or I or my VC / Hedge Fund Partners are insiders owning 5% or more of the company. I’ve done well with CVSI and if the volume and momentum come back I’ll trade it again.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
CV Sciences is the descendant of a foreclosure company, after all. It has issued shares repeatedly for almost nothing. Its former CEO was barred from serving as an officer of a public company for five years. There’s a real business here, assuming CBD oil demand continues. But as a stock, CVSI stock seems to have some questions.
Why Is the Company Giving Away CV Sciences Stock?
Growing companies often sell stock below market value in a bid to raise money and/or fund operations. But CV Sciences has been awfully generous with its shares over the years.
CVSI disclosed in its 10-Q dated 8/28/2018 (p. 28) that it had issued 150,000 shares of stock to IRTH Communications, its “investor relations consultant”. The Q cited fair value of $61,575; the current market value is over $700,000, however. That’s an enormous fee for an IR company — and the willingness to issue stock for what could have been $60K-plus in cash raises question about just how valuable CVSI management itself believes CVSI stock is.