Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks ATL.
That's why I remembered reading but couldn't find the PR, is because it was a question at the shareholder meeting.
So my follow-up question would be this. To whom does this statement apply:
My understanding is that the journal publication is usually the reveal of the full data set. The company can release TLD/endpoint results earlier, then include the full data in the publication as the 'first reveal'.
What fins? They haven't released financials since Q4 of '19. And according to those, the grow itself was creeping in on profitability. It appears they were just under 100k loss EBITDA around the grow. Compare that to same period '18 and they had excellent growth year over year. Extrapolate that to '20 and it's not out of the realm of possibility that the grow operations are black in EBITDA now.
If you've got access to fins I'm not seeing, please share.
Add in that it's finally profitable.
Grow is reporting great revenue and turning a profit now; excellent news.
Exactly. That's all I'm saying, is it's a gray area and I don't think it can be reliably referenced to claim that the trial is a success because they only have 4 days to report negative results.
If that is your argument, then you must also glean from that reporting rule that an 8K must be filed for positive results within 4 days as well. Where is that PR?
The 'four day limit' is not a hard fast rule. Really it's not even a soft slow rule. It is alluded to because there is some precedence in biotech for exposure to a law suit if the company knowingly withholds negative information, for example top line data, from the public which would impact the stock price.
There is 100% not a regulation that says "a company must release trial data within X days if the results do not meet the primary endpoint etc etc". However, it is very true that the longer they sit on negative results the more they open themselves up to potential law suits and violations with regards to disclosure of material information.
Told ya - nice and flat isn't a bad thing. All this volatility scares investors. These 10% swings without news aren't good, either direction.
Check it out now - bid is $1.90 and ask is $5.00
There's some spread.
$1.15 on the ask. Might we gap?
I agree this news is encouraging and more of a positive sign than any news we've gotten in the past year.
However, I'm skeptical whether the market will react enough to move the PPS. I'm sure we'll see a volume uptick and a green day, but I don't think it's going to be a big move a la the Nipton announcement. That doesn't generally happen unless there is a PR with actual evidence of $$$ moving.
Still keeping my fingers crossed, though. Would be nice to see some positive momentum. Couple a green day here with a followup PR with some sales revenue (AGM???) and we could really gain traction.
Alright folks let's look at some details here.
First and foremost, if you google "Dispension Industries Canada" there is no mention of this company anywhere in history. Their website doesn't even show up until page 3 on the search results. They've never made a single press release until today.
Second, the website for Dispension Industries was created less than a year ago. And the domain was created from an IP in, guess where....Arizona. Mighty fine coincidence. Their website looks like it was created in an 8th grade computer class project. The 'social media' links provided on the website go to absolutely nowhere.
The press release says they intend to buy 100 machines. Laughable. It could say they intend to buy 5,000 machines. Once I win the lottery I intend to buy a yacht. Ain't happening.
The press release says they signed an exclusivity agreement with AG. Wonderful. An infant company can't buy their machines from anyone else now. They have no money or business operations so they couldn't buy them from other sources even without the agreement.
Try again AG. This didn't fool anyone.
Uh...this one did it quite recently?
Annndd...there's the T Trade. 85 mil. Back to .0011 tomorrow.
RS before 2017 is over, no doubt.
121 million on the ask...good luck breaking 17's. Dang.
Town was listed for sale for $5 million. So alot.
Doesn't take an expert to see that this PR is absolute nonsense.
No updates for over two months while they are supposed to be in the middle of constructing a grow facility. They have everyone dangling by a string, waiting for pictures, updates, news, something to tell us the operation (which is supposed to be the foundation of their business) is moving along well. They finally post some news and it literally does not even mention that they even are trying to complete the grow op. Just some bogus nonsense about buying a 'town'. That's not months of work. That's finding two hillbillies with 120 acres in Cali that are dumb enough to believe that the 100 million shares of stock you offered them for their plot of land is gonna be worth something some day.
You're right, I'm not an expert. But I don't have to be.
This is borderline comical.
They purchased a town? ...what? Brilliant way to spend our money, AG.
AGM is dead. Grow op is dead. This isn't even a hail mary. They're taking a knee to let time run out so the score doesn't get any worse. Trips gonna hit today. This ball game is over.
Purchased a town...hahaahaa.
Not particularly. This hit 1B+ volume recently and that didn't mean much.
Something good to watch, though, is that bid volume steady climbing. It was at 900k two hours ago and is already over 30 mil. People want in at 12's. If we can get support there and keep this out of trips, the next big news could make a runner.
The company isn't ignoring just the naysayers, but also that disaster of a financial statement they just released.
"Hey everybody, look over here at these pictures of nothing....don't pay any attention to that document we just released that is the first thing actually relevant to the state of this company that we have published in a year."
They need to address the financials. Just because it's awful doesn't mean they can close their eyes and it will go away. Release a statement with a structured plan for fixing that mess, even if it's a plan based on pipe dreams and unicorns, and you can make good news out of bad news. And make no mistake, those numbers were bad news. The only positive on that statement was a $100k AR from TrackX that they will NEVER be able to collect.
Geez this is going to tank today. All that hype, more eyes on this stock than there has been in quite a while, and they drop that massive, pungent turd of a quarterly statement. Yikes.
At least I'll be able to average down again, though. If I can fill a bunch of .001's I'll get a good bit closer to my .002 target.
Almost entirely all bad.
The only good things that can be gleaned from that are that they somehow have managed to keep some cash on hand and they are finding ways to reduce operating expenses, which are way too high anyway, looks like mostly through lowered interest payments.
Some key takeaways are revenues are still non-existant (that 10k number may as well be zero. I could invent a BS company and fabricate 10k revenue from website traffic and other nonsense) This is very bad.
14 B authorized shares is awful.
Inventory is basically zero, so there will be no revenues anytime soon. It looks like everything around the AGM was re-marketing what they already had. They won't be selling machines any time soon if these financials are accurate. So that ordeal was just fluff.
All this on top of the fact they could not have released this at a worse time. All the publicity and interest ERBB is getting right now; potential investors had their interest piqued, now they see this abysmal report shortly after starting to pay attention...this will turn 90% of serious investors away. Not good....not good at all.
Another news drop that contains absolutely zero substantial information. Surprise, surprise.
It would appear investors, and the market in general, are becoming acclimated to this, though. Stock has had absolutely zero reaction to the last two releases. Not much left to squeeze out of this sour lemon. Gonna take an actual big boy press release with some earnings or sales numbers to make this thing move again. Don't hold your breath. Sigh.
Looking like a pretty stagnant day. Bid is almost 4x the ask so hopefully we can get a bump up to .0014 and stay in the green for most of the day but not much to see here. Slow Friday. Maybe that NAMA news Monday gives it a kick.
No machine, just as I suspected.
No pictures, no videos, not a single update. How much longer should we "be patient" hmm?
Said last week the AGM wasn't going to be working at the show. Get ready for a PR later in the week saying that the show was great and people are excited about the concept of the AGM. Maybe we'll get a comment about how the machine didn't get demo'd because AG wanted to be sure everything is working perfect before the real debut, maybe not.
Make no mistake though, the machine was not working at the show like advertised. Company absolutely swung and missed here. Whether it's a scam or just complete incompetence I don't know. Either way, not good. No excuse to drop the ball this poorly.
Four days in Vegas and still no updates.
Not a single picture at the event. No video of the machine. No updates on what is going on. It's starting to materialize that AG just bought a booth to get their name on the website. At first I thought they just had some poster display but now I doubt whether they are even at the convention. The only picture they've posted in the last 72 hours was more than likely taken in North Carolina (or wherever the machines are collecting dust right now).
I'm long on multi-million shares with these guys; had high hopes but I think I'm just about done. Disappointing.
It's crazy, I'm going through the list of vendors at the show and checking out their social media and almost every single one has updates and pictures from the show! Did they get early access or something? How could they have possibly managed to get pictures already?! They only had 3 hours on the floor yesterday. There's no way you can take a picture, bring your film to get developed, find a scanner to upload the print, edit and make a jpeg, upload that jpeg to a host site, and use the host site to upload the picture to social media in that short amount of time.
It's like those guys have access to some technology that allows you to do all that from some sort of portable device in 2 minutes. Playing field just isn't fair.
FWIW doesn't look like AG is listed with a booth anymore. Just PanP
Something is definitely amiss.
Not a single photo at the event. Nothing from arrival to prove they are there. Nothing from the booth yesterday to prove they are there. Then a "press release" that is just the exact same thing from two months ago regurgitated with absolutely zero new info. Nowhere in the press release does it say the machine will be there. It says their smart vending 'system' will be on display, the three things that make it unique will be on display, and 3 other other machines (not theirs) will be on display.
Got a feeling they are there with a science fair poster board and some hats and at the end of the week we're going to get a "The show went great, and many investors/distributors were very excited about the new and improved AGM system which received excellent feedback conceptually. We at American Green strive to ensure we only deliver the absolute best product; unfortunately the entire machine was not in the perfect working order to unveil yet, but we are getting close" message.