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Trump is venting at Jeff Sessions again. If Sessions gets fired and Freidman gets his act together, these prices around .013 - .014 will be the low for a long time.
News statement today -
LOS ANGELES, CA - (NewMediaWire) - April 10, 2018 - Agritek Holdings, Inc. (OTCQB: AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor for the cannabis sector and consultant for multiple cannabis brands, today announced an update to shareholders and that the Company has renewed and received approval to maintain its uplisting for trading on the OTCQB. Companies traded on the OTCQB and OTCQX must maintain the highest reporting standards and be subject to fully reporting financials through an SEC peer approved auditing firm to provide complete transparency to investors. The company has previously announced its auditing firm as M&K CPAS PLLC of Houston, Texas.
“Our auditing firm and accountants at M&K CPAS have assured us that our 10K annual report will be timely filed within the extension period ending April 17th, 2018. Our new auditing firm must maintain the highest standards of financial reporting, and they are taking additional time to ensure the accuracy of the reported progress Agritek Holdings has made during 2017,” stated B. Michael Friedman, CEO of Agritek Holdings Inc.
C'mon Freidman!!! You're in potentially one of the hottest future markets (hemp). Get this business out of the gutter.
https://www.ocregister.com/2018/04/03/legalizing-hemp-in-america-is-long-overdue/
Mojo - Thanks for the update from the ground in Puerto Rico. All HEMP stocks should start a rum soon -
https://lasvegassun.com/news/2018/mar/27/hemp-gains-powerful-ally-to-free-it-from-marijuana/
Part of today's news release. I like the part "as well as expanding our presence in Canada" -
“The Agritek Holdings business strategy has always been focused on financing top-tier land and infrastructure companies within the licensed medical cannabis industry. We welcome this positive development and will continue to monitor any changes in state and federal legislation. We will continue to remain focused on the medical cannabis markets including Colorado, California and Washington State covered by this Act as well as expanding our presence in Canada. I believe this very positive event will allow Agritek to maintain a strong competitive edge in advancing our land portfolio and canna- business to remain compliant within present legislation while creating strong and diversified shareholder value,” stated B. Michael Friedman, CEO of Agritek Holdings, Inc.
“The new protections enacted specifically for Hemp research will allow Agritek Holdings to fully complete its plans for its Pueblo operations which will be one of the largest outdoor operations producing CBD, full spectrum oil for medical patients and pharma research once completed.
couple quarters yet....it's coming.
Yep. One million cruise travelers per year spend 12 hours or more in San Juan.
https://www.otcmarkets.com/stock/AGTK/news/Agritek-Holdings-Inc-Announces-Plans-For-Purchase-Of-New-15000-Sq-ft-Cultivation-And-Manufacturing-Facility-In-San-Juan-?id=186243
Wow! Did you guys see this? Maybe not since the news just came out a while ago -
https://www.cbsnews.com/news/mitch-mcconnell-pushes-for-hemp-legalization/
That news makes this HEMP news from the CEO a few months back very important -
http://ir.agritekholdings.com/news/releases/agritek-holdings-inc-announces-expansion-plans-for-additional-900-acres-in-pueblo-colorado-for-cbd-research-cultivation-farm-and-new-infused-products-agreement
Maybe this is why we see a small spike in the price. Once the news is fully understood, Agritek should see a rise in interest.
TRUMP JUST SIGNED THE SPENDING BILL. This is a good day for all marijuana stocks. Jeff Sessions prohibited from using federal funds through September to crack down on marijuana in legalized states. Sorry Jeff.
As for Pete Sessions, the Texas Republican is one of the congressmen that Democrats are eyeing to upset in November when he is up for reelection. We can only hope.
Good day to load up with the price down on the lightest volume in months.
Good news -
If this new spending bill is passed this week, medical marijuana will be protected from Jeff Sessions for the next 6 months -
http://blog.norml.org/2018/03/21/new-federal-spending-bill-includes-medical-marijuana-protections/
Mojo - Good to hear from you. Are you buying back in?
I'm glad to see he included "capture the tourist revenue from cruise ships". Some of these ships hold 5000 passengers. My wife and I have taken a cruise that docked in San Juan. When a cruise ship makes a stop in San Juan, they usually give you up to 12 hours to explore the city....either on your own or through the ship's own excursions that you pay for. This really could be huge if it's what he says it will be.
From the news release -
"Puerto Rico has also enacted the same legislation that Nevada did initially allowing patients with medical cards from all jurisdictions to purchase medicine on the island to capture the tourist revenue from cruise ships to vacationers as well as locals."
http://www.touroldsanjuan.com/cruise-ship-travel/
"Puerto Rico is the second largest port for cruise ships in the western hemisphere. More than 24 ships make San Juan their home port. Over a million travelers from cruise ships visit Old San Juan each year."
OVER A MILLION TRAVELERS A YEAR!
I don't think it much matters as I don't expect the quarter ending Dec.31st had much revenue any way. CEO pretty much said in one of his TV interviews that he wasn't concerned with revenue right now...just trying to build up the business. I've traded a chunk and still hold a core position. My feeling is that the marijuana sector will one day be the hottest sector in the US markets. NY state is now debating marijuana and Jeff Sessions won't be around forever to hold back the sector. Once marijuana is delisted from a Schedule 1 drug, Agritek (and all mj stocks) will take off. If Agritek can stay alive long enough to benefit. This could be a good area to accumulate as it appears bids are starting to come in at this level and selling has pretty much dried up (for now).
In 2017, their 4th qt numbers were released March 31st. Why are you expecting them so early this year?
Can't disagree on the vagueness part but some good things may be cooking in California...from today's news release -
“I am extremely pleased that multiple Agritek product lines are being immediately accepted and gaining traction within the California marketplace, which I believe will be the largest cannabis consumer market in the US. Our California Premiums pre roll brand are now being mass produced by licensed facilities and taken on by dispensaries and delivery services. Now, our proprietary MD Vape line cartridges and filling systems for CBD and THC oils are just beginning new revenue streams on our strategic development and acquisitions of brands."
I like the "gaining traction" and "are now being MASS PRODUCED" part.
News out -
Small steps first...then large ones -
https://www.otcmarkets.com/stock/AGTK/news/Agritek-Holdings-Inc-Announces-Purchase-Order-For-First-10000-Vaporizer-Cartridges-Under-Companys-MD-VapeLine-To-Califor?id=185578
“I am extremely pleased that multiple Agritek product lines are being immediately accepted and gaining traction within the California marketplace, which I believe will be the largest cannabis consumer market in the US. Our California Premiums pre roll brand are now being mass produced by licensed facilities and taken on by dispensaries and delivery services.
All marijuana stocks are off the radar now. MF did say during that interview that Agritek was undervalued between 2 and 3 cents. We'll see. I'm hoping he knows something we don't. Only 800,000 shares traded and it's already noon. Snooze away longs.
I like the part where he says they are looking to buy more land in Canada. Marijuana will be legalized country wide in Canada soon.
4th quarter ER is in with the annual report. Last year's release was March 31st. Companies are given additional time to release annual reports. You guys are a month or more early in expecting it now.
That came out yesterday...but it is revenue producing which this company has to start showing.
"cancels at the end of each day"
Put a GTC (Good til cancelled) order instead of a one day order. That gives you about 4 months until you have to revise it. I've got my sell order in at over a dollar - ha. Shorts can't touch my shares.
Nice...product expansion continues. Something is going to break big time for this company soon.
I'd agree. The CEO kind of hinted at that in the news release -
""Our reasoning for this recent asset purchase and acquisition of an established 15 year nutrition and supplement company with a strong retail location and high traffic online stores with eBay and Amazon was two-fold. First, an additional revenue stream of close to $600,000 in product sales within the supplement and wellness space will greatly increase our balance sheet as it relates to inventory and product sale based revenue. Second, a long time established relationship with online store fronts including arguably the largest online partners in the world Amazon and eBay creates an incredible opportunity as a gateway for launch of our new wellness products and brands. The online store www.peakperformancesupps.com is in conjunction with eBay store "performancesupps" and Amazon store of the same name. With an established retail location since 2001, and built in consumer base, these new retail and online e-commerce assets soon to be within Agritek Holdings provides a much anticipated subsidiary for immediate and meaningful revenue and channel for the proprietary wellness products within the legal jurisdiction of California" stated B. Michael Friedman, CEO of Agritek Holdings Inc.
The closing of the asset purchase is expected to take place within the month of October 2017 subject to final due diligence."
Being able to sell our marijuana products online will be down the road. However, revenue from wellness products and the store having good reviews, we should be hearing something on this $500,000+ revenue per year at some point in 2018.
Some of you longs may remember Agritek buying this store back in Sept, 2017 -
http://www.marketwired.com/press-release/agritek-holdings-inc-announces-acquisition-of-performance-nutrition-california-retail-otcqb-agtk-2234370.htm
Here is a company profile and note the parent company listed as Agritek -
https://pitchbook.com/profiles/company/221735-89
Some current reviews of the store -
https://local.yahoo.com/info-98640150-performance-nutrition-center-laguna-hills?stx=Nutrition%20Supplements&csz=Lake%20Forest,%20CA&fr=lsrp
Roughly $500,000 to $600,000 projected revenues annually.
If the closing took place in Oct. as the CEO stated in the news release, when do these revenues start showing up? I'm still looking for the land rental income to dwarf this $500,000 eventually. C'mon Michael...this is the kind of update to give on one of these Fox Business News interviews!!!! The stock price would fly.
Possible that they couldn't verify it. There does appear that some legislation was added to the budget deal that prohibits Jeff Sessions from using $$$ to go after medical marijuana. May not be fake news after all ...we'll see -
https://mjbizdaily.com/federal-medical-cannabis-protection-extended/
Stronskeet - Nice Find!
In addition to prohibiting federal funds to be used, this part is very interesting as I don't believe that was ever a part of previous budget deals -
"Both the House-approved extension, and the Senate agreement, also include extensions of an amendment that protects state laws allowing for the cultivation and research of hemp. President Trump says he supports the Senate’s 2-year deal."
News breaking of a possible 2 YEAR budget bill. "IF" it includes a marijuana protection clause, that would be huge for the industry. A lot of "IF's" yet but the past few extensions have included a provision preventing DOJ from using federal funds to go after marijuana in states that have approved legislation.
He also said that he would be on that TV program on Fox Business Channel (yeah..I know) again in Feb. and that Bloomberg TV would also carry it. Michael...how about this time actually giving us an update on Agritek such as land revenue rather than talking about the problems in the marijuana industry.
Not that I feel like defending him but the major revenue should come from the rental hemp land. The $12000 was additional revenue" (???)
"The Company has its first purchase order submitted for 5,000 pieces which we will sell at $5.00 a unit for the lollipops to be sold online and through multiple retail locations. An additional $12,000 dollars in gross revenue was the first sale for the Company’s raw isolate for pharma research."
"Production will begin this season on our Pueblo, Colorado CBD farm operation, supplying a controlled, consistent and premium product source for all of our product lines."
News Out! Finally starting to see some revenue.
https://www.otcmarkets.com/stock/AGTK/news/Agritek-Holdings--Inc--Announces-First-Revenues-From-Hemp-CBD-Sales-and-New-Product-Lines-On-Heels-Of-National-Feature-Interview-As-Public-Cannabis-Company-On-Fox-Business-Network?id=182618&b=y
B. Michael Friedman, CEO of Agritek Holdings, stated, " We are beginning to see first revenue streams from our new brands focused within the Hemp and CBD markets in Colorado and California."
Also this -
"Production will begin this season on our Pueblo, Colorado CBD farm operation, supplying a controlled, consistent and premium product source for all of our product lines."
Yeah...I know what I own and I'm going to stick my shares in a drawer and forget about them for awhile. I'm aggravated today with Agritek, the CEO, the crooked market makers, the wife, the dog, %#@K It! I'll join the groundhogs and go into hibernation til spring. lol
I've heard of naked shorting. It's supposed to be illegal isn't it? Why would a reputable market maker like Nite deal in that BS? Not saying you're wrong by the way.
I don't know. Every time I check the short interest in this stock, I see very few stocks short as a % of the float. I mean who in their right mind would short a 2 cent stock? I just think people sold this morning on yesterday's non news event.
I thought the CEO yesterday on TV gave a weak showing. If you have 5 minutes to promote your company, why spend part of it talking about the problems the marijuana industry has with the banks not taking their money? That has nothing to do with Agritek. He needs to promote what is happening with Agritek and use the whole time slot to get the message out there. There is a lot going on with Agritek now that wasn't there a year ago. Maybe it's time for a marketing person in our company.
Anyway, this is a short term sell off. We'll be back much higher in 2018.
Starting to see some bids finally coming in around .028. We still have to finish the selling from all these "investors" who bought Agritek in the past few weeks thinking they were going to get fresh news out of an interview taped over a month ago. These prices may be the lows of the week.
Ha Ha LOL is right!
I posted it was an infomercial at least 3 times in the last few weeks. It's an overview of the company and was taped a month ago (in December). He said he'd be on that show all through 2018 so keep in mind it is taped about 4 weeks in advance of airing. There won't be breaking news...he's just trying to get the company out there to the public. That's way more than most of these marijuana companies are doing.
It does look like they have updated their website though. Here's one piece of news I wasn't aware of. It appears that Puerto Rico has granted Agritek a license. This off their website. -
"San Juan, Puerto Rico cultivation facility exclusively focused on grow infrastructure and extraction.
Largest licensed facility in the heart of San Juan centrally located to all provinces and tourist cruise facilities.
Department of Health License, which allows:
Cultivation, Extraction, Research and Product Development.
Global import and export of cannabis CBD products."
I thought I heard him say today when talking about the 25000 acre Puerto Rico site that the company was looking to expand further in PR. I'll have to listen to a replay.
mebent - "So my question to all the experts - is AGTK really a pump dump or is it a solid goal for a new business?"
Hardly an expert here but my 2 cents is worth about a share of this stock. I guess you should watch the program he taped for starters. Listen to the questions and listen and watch him for his answers. I know he's had bad luck in the past with his companies but he may be on to something finally. I hope so. Look at POTN stock. It was trading a few months back at a few cents (where we are today) and they grow hemp. POTN closed today at 85 cents. Our CEO is planning to grow hemp on that 1000 acre site in Colorado. Could it work out? Is he just lying and is this a scam? One question for you to answer - if you were going to scam shareholders, would you put your mug on nationwide TV and tell all kinds of lies...and do it multiple times in 2018 (he has told us that he will appear throughout 2018 on that program). I don't know about you but I sure as heck would want to stay as far out of the public eye as possible if it were a scam. I believe he is honestly trying to grow a viable company here and has a good business plan. He has succeeded in listing Agritek on a better exchange already and has succeeded in acquiring a MILLION dollars from an institutional investor. I would like to think that investor looked things over pretty carefully before he (or she) forked over that king of money. Part of that money was to get rid of toxic debt. Our CEO told shareholders he would be spending the rest carefully in 2018. Perhaps news of an acquisition is coming. It is penny land so roll the dice on a 3 cent play at your own risk. $350 gets you 10000 shares. Best of luck to you.
This looks similar to yesterday. Someone dumped early morning and we clawed our way back during the day.