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Yes we'll know for sure by the end of the week, either way if it was an insider or GEM.
Thank you! Looks like Sagot's huge drop in share count corresponds to the 8/26 sale to GEM of 66.7mm that was mentioned earlier. This was reported in the disclaimer of Relief's 8/31 PR. So it probably wasn't Yves this time, it's probably GEM dumping the last two days. Always knew this would be an ATM for them since the share subscription facility ended on 9/28. Looks like they've started.
I checked the Swiss exchange earlier for reports on recent insider sales and didn't see anything. You have a link?
It could be an insider selling, we'll know in a few days.
Could be GEM dumping their cheapies or maybe they got a fresh batch of new .03 cent shares. I see there's north of 2.66bn shares out now.
DAMN WHAT HAPPENED HERE???!!!
Numinus First Canadian Public Company to Complete Legal Harvest of Psilocybe Mushrooms
https://numinus.ca/investors/news-release/numinus-first-canadian-public-company-to-complete-legal-harvest-of-psilocybe-mushrooms
Numinus Bioscience's developments include harvesting its first flush of Psilocybe mushrooms at its Health Canada licensed facility.
VANCOUVER, BC, Oct. 22, 2020 /CNW/ - Numinus Wellness Inc. ("Numinus" or the "Company") (TSXV: NUMI), a company creating an ecosystem of health solutions centred on developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, has harvested the first legal flush of Psilocybe mushrooms in Canada by a public company under its Health Canada-issued Controlled Drugs and Substances Dealer's Licence. This news coincides with other recent developments by Numinus Bioscience, the Company's 7,000 square foot analytics and research laboratory, which is focused on handling various psychedelic substances and developing analytical methods and formulations for the evolving psychedelics space.
Numinus Bioscience first Psilocybe cubensis harvest
Numinus Bioscience first Psilocybe cubensis harvest
Numinus Bioscience Preparation of Harvested mushrooms for freeze drying as the first step to mycochemical discovery and development of standardized testing
Numinus Bioscience Preparation of Harvested mushrooms for freeze drying as the first step to mycochemical discovery and development of standardized testing
Numinus Bioscience Psilocybe mushroom
Numinus Bioscience Psilocybe mushroom
"The first harvest of legally grown Psilocybe mushrooms is a significant milestone for the whole industry" said Michael Tan, Chief Operating Officer. "Now, we can progress with research and development of standardized cultivation, extraction, and testing methods and exploring product formulations to support safe, evidence-based, accessible psychedelic-assisted psychotherapy, as well as build a sequenced spore library."
Dennis McKenna, renowned ethnopharmacologist, Co-founder of the Heffter Research Institute, Founder of the McKenna Academy of Natural Philosophy, and member of Numinus' General Advisory Council, adds, "While there is a place for synthetic psilocybin in clinical practice, well-characterized and standardized extracts of natural forms of psilocybin i.e., mushrooms, cultivated and processed under stringent quality control protocols, are the wave of the future as therapeutic psilocybin gains acceptance. Given a choice, many people would prefer the option to use natural psilocybin. Mushrooms have been used in traditional medicine for literally thousands of years, and hence, they are just that much closer to these ancient traditions. Natural mushroom extracts are also likely to be far more affordable compared to synthetic psilocybin, and that is an important consideration when it comes to ensuring accessibility to this medicine which can be so beneficial to many people. Cost should not be a barrier to access these medicines, and the use of mushroom extracts will help ensure those who need them most can benefit from psilocybin therapies."
Numinus Bioscience is establishing itself at the forefront of analytical testing for psychedelic substances, as a centre of excellence for psychedelic product research and development, and as an ancillary for psychedelic therapy clinical trials. Health Canada licences, scientific expertise, and state-of-the-art technologies facilitate ongoing innovation, while revenue from high-throughput contract cannabis testing is reinvested to further its psychedelic initiatives.
In addition to today's announcement, Numinus includes in its recent developments an amendment application to its Health Canada-issued Controlled Drugs and Substances Licence. The current licence permits testing, import and export, storage and distribution of MDMA, Psilocybin, Psilocin, DMT, and Mescaline as well as the undertaking of novel mycological research initiatives. The amendment will additionally permit the sale of Psilocybe mushroom fruiting bodies and extract for clinical research protocols and the development of standardized testing for additional psychedelic substances.
Numinus is also proud to announce the recent appointment of Sharan Sidhu, regulatory expert and policy advisor for restrictive high growth industries, as Science Officer and General Manager. Sidhu brings extensive experience as a hub between academia, industry, and governing directorates to align research objectives with regulatory compliance. She has been a key strategist for research roadmaps, core initiatives, the development of IP, and the development of compliance requirements including LIMS, GLP/GMP, GACP, and ISO Standards.
"Sharan's experience and leadership are already proving instrumental in establishing Numinus Bioscience as a centre of excellence and major industry player in the delivery of safe, evidence-based, accessible psychedelic-psychotherapy," said Payton Nyquvest, CEO, Founder, and Chairman. "We are honoured to have her join us on our mission."
Sidhu is leading an accomplished scientific research team including Dr Bernd O. Keller, PhD (Advanced Analytical Methods), Dr Kristina Grotzinger, PhD (Phytochemistry), and Judit Varga, MSc (Advanced Microbiology Methods).
We're moving today. Volume is up and first day closing above .28 in 7 sessions.
You're welcome! No problem. If you see/read anything different please let us all know. I've been involved in this sector since 2013 and still own CRON shares at .70, back when they were PRMCF lol. But these state by state decrim/CBD laws are rapidly changing and it's impossible to know all the details.
Yes, but when a hemp plant is grown it's known to have a certain level of THC and CBD per entire plant. But the first step in creating CBD vape oil is processing the hemp by separating low CBD portions(seeds, stalks, stems) from the high CBD portions(flowers and leaves). The low CBD portions aren't worth processing thru the extractor, they're either sold for fiber etc or discarded. The flowers/leaves left to be processed are by default >.3% THC by weight. So the oils that are initially extracted would be >.3% THC and deemed non-compliant/illegal. The oil would then need to be diluted/processed/tested to meet the DEA's .3% THC guideline. A company as large as Altria would most likely be responsible for vats of this oil and they're just not gonna get involved in this while it's in the grey area.
I checked around, looking for any nationally distributed CBD vape pens sold in gas stations. I found lots of oil droppers and tinctures sold in gas stations but no nationally distributed vape pens. The FDA plays a part in this as well. The FDA still hasn't ruled on CBD drinks and food ingredients. CBD is allowed only in pre-packaged food/drinks and outlawed in restaurants/bars/coffee shops pending their ruling. Basically, it's a whole lotta bs and I don't blame Altria for sitting out right now. Launching this less expensive, high quality cosmetic product marketed to women by an A list celeb is the way to go right now. I doubt she's getting a percentage cut on the sales, they probably just cut her a one time check or maybe shares. Who knows? All up to her and her agent to negotiate.
Altria and Cronos will not nationally distribute a vape-able hemp oil product in gas stations etc until there's clarification from the DEA.
DEA JUST DROPPED A BOMB ON THE HEMP INDUSTRY. PART 1: HEMP EXTRACT
https://cannabusiness.law/dea-just-dropped-a-bomb-on-the-hemp-industry-part-1-hemp-extract/
You can submit your comments to the DEA up till next week. Who knows how the DEA will rule on this? The hemp regs are pretty confusing.
Happy Dance on the Ellen show.
https://www.ellentube.com/video/kristen-bell-was-hesitant-to-use-cbd-before-making-her-own-brand.html
Kristen Bell promoted her Happy Dance brand on a recent episode of the Ellen Degeneres show. They're also running a $250 give away.
Still need details on the actual deal but this isn't a separate venture, this is out of the Redwood/Lord Jones brand. So I'd assume this is all out of the same 300mm. I don't see anything wrong with this diversification.
https://www.glossy.co/beauty/lord-jones-kicks-off-happy-dance-targeting-millennial-moms/
Yes, the authorized shares should've been reduced but that's what Pennies do - reverse split while leaving authorized shares intact so the board can print many more shares at a cheaper cost than most longs. Many longs will get screwed and be left holding the bag. Low is 5.51(.68 pre split) and I expect lower until they actually announce they filed for Nasdaq.
Thanks, I'll check the conference call, I'm sure you're right and they mentioned uplisting but those are just verbal statements that aren't legally binding and can change direction the next day.
I've also been involved in penny plays that made it to the Nas(none of them RSed tho). All the ones that claim "RS to uplist" never actually do it and just end up printing more shares. Anyway, I hope they do. I just don't think it's helpful to say this will uplist tomorrow lol because we both know it's not. Maybe tomorrow they'll announce that they've applied.
You're not on the company's board lol, so that's all your wishful opinion tho. I haven't seen any PR mentioning uplisting to the NASDAQ or applying. Please correct me if wrong.
And an RS without a reduction in AS is setting up for eventual/immediate dilution. I'd bet the sudden drop to .55 and Friday's PR and today's gains coincides with a recent private sale/capital raise.
I still like the company and will buy back, but cheaper. The sharp decline in pps, then the surprise PR, the increase today and RS announcement is classic penny stock behavior.
I sold today. I'll be watching and will buy again but don't want to be involved in any RS. Closing price is .8799 so tomorrow's 1:8 opening price will be $7.0392. Ticker will have a D on it for 5-10 business days as well. Doubtful they're gonna post a NASDAQ uplist PR tomorrow. When did they say they applied? If anything, they probably just did a capital raise.
Yeah chasing down lol
Yup. It's headed that way. Possibly even lower tomorrow morning and thru the week. People should take their profits and learn the cycle.
I think overall market sentiment doesn't affect this tho. It's an OTC penny and moves within it's own Covid-19 pandemic bubble. Positive/negative current news makes or breaks this. I'm surprised it's held the .50s so long but tomorrow we should see definite retracement.
All eyes on the Swiss market! 3AM EST
Should be "interesting" tomorrow lol.
OTC PPS estimates tomorrow morning?
OTC PPS estimates Thurs/Friday?
New trial just started, RLFTF is basically walking thru the desert this month. Gonna be awhile till there's an opportunity for positive news.
Watching for a potential breakout soon.
Love how they threw in the dilution announcement under the "uplist" PR lol.
OTCQB isn't exactly an "uplist", it's just the mid tier of Pennyland. Hedge funds, private equity and ibanks will still stay away.
I guess Relief's Board is hoping newbie investors will overlook the extra 300mm shares they printed from their ATM(share subscription facility) by telling them they've "uplisted" lol. Classic pennystock bs. They don't even have an actual CEO.
If a RS is done around great news then it won't affect PPS much. Hype volume could bring new buyers in to offset sales. I'd expect GEM to sell alot before the announcement.
If a RS is done to get on the Nas then it could go either way. But the company would need to be so much more transparent and established before that move tho. Applying for OTCQB is just a first step. Hiring an actual CEO would be a second step.
We have to realize that first, they'd announce that an RS will be voted on at a future date. They can't just wake up and do it one morning. PPS would then sink on the day of that notice. We wouldn't know if they're going to be bought out or not. They're not gonna announce that until it's finalized. That's insider info. Once the RS actually happens PPS would drop as well. If I was a buyer looking for the best deal, I'd be in favor of Relief RSing first.
In many cases, an RS is followed with a capital raise so it's a double hit to the PPS. Relief could avoid this by lowering the AS when they RS. But I've yet to see that done in penny land.
Exactly.
He's comparing the numbers in the cert form from today to their last report. Relief isn't current so it's all we got.
I've never seen an uplist done that way and someone else on this board asked me that as well. It's an interesting suggestion. We'll have to wait and see.
I mean, I'm not in the board room so I don't know their exact plans. I can't say for sure if they want to uplist to the NASDAQ by doing an RS AND reporting on time. OR get bought out. These are possibilities. And yes if I was a potential buyer, I'd rather they fully convert all shares(including GEMs warrants) and RS before I buy. Why not? Cleaner that way.
No. Still OTC penny, just moving up to the mid tier level. OTCQX is the highest tier in penny land.
Last I heard, it cost a company about ~20k to apply and many pennys don't bother.
And RLF doesn't need to be OTCQB or QX to get on NASDAQ, it just needs to fit the NAS' PPS and reporting guidelines. But most pennys will try to comply with OTCQB or QX first.
Finally some accurate SS info. OTCQB is the OTC's mid tier. All penny stocks in this tier must adhere to a bit more rules and guidelines. OTCQX is the top tier for OTC.
AS = +4.4bn(Didn't know this)
OS = +2.3bn(so there was ~100mm new shares issued in the last month)
GEM and insiders own 700mm shares
0 of these shares are restricted!(as I expected. So we can safely assume GEM has been selling all along despite what Selvaraju says in an interview.)
Float is 70% of outstanding shares.(Very large, as I expected. That's why RLFTF doesn't move unless it has groundbreaking news.)
I think they're prepping themselves to get bought out. Moving up in OTC Tiers is a PR thing to look more attractive to potential buyers. And Selvaraju mentioned settling debt from a loan by issuing shares. He stressed clearing the books. That's the actions of a penny stock board that wants to be bought out. I think they'll be announcing an RS soon.
Thanks for this!
Definitely not. But every shareholder needs to learn to separate the product/service from the stock. I'll be buying alot more, just waay lower on the chart.
Gonna be a hard Monday morning for RLFTF. Gonna be a hard week. Watching and waiting below.
Edit...read that wrong. Yes it's for the unblinded 21 patients. The ones Javitts referenced with the xrays in his interview with Dr.Yo.
Thanks for this. I'm in the US, using TD Ameritrade, can confirm the $15 charge as well. I had seen posts re this charge, dug alittle and then I found it. No biggie really but needed to confirm.
I saw your private message re an RS and the ADRs but I'm on a free account and can't reply. The board would need to approve any RS first. That'd be the first move and it'd affect all outstanding shares, ADRs in my understanding are just used to facilitate foreign trades so I don't think there's anything that could be done there.
Great post, but damn you're giving too much strategy away here lol.
RS = Reverse Split
AS = Authorized Shares
No such thing as dumb questions, that's how you learn!
I believe the NAS has a 4 dollar minimum PPS requirement so we'll need a RS for that first. And you can't have a loss for the past three years. There's more requirements, those are the two major ones that I remember off the top of my head. I went thru this with Pharmacan when they became The Cronos Group and became the first cannabis company on the Nas. Relief could do it but I doubt they'll do it in a month and that inevitable RS is gonna kill(if they don't reduce AS as well).
down -18% on Swiss
Yeah this isn't news. No sources. No new info. It's not on Relief's site either.
He mentioned it as an afterthought in response to a question a reporter asked him. It wasn't included in his initial statement to the press. I think he's really gonna wait till there's data. He's learned his lesson from the hydroxy scandal.
Thank you. Said it before, this is not new news. Same news that we already know. Cheerleaders gotta try harder.
That very same verbage is in the June 8 statement on Relief's website. Did you read it? This pharmashots article is just a re-hash of old news. That's why there's no new news posted to Relief's site lol. People, when in doubt, check the company's site!