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PHOT is looking gooooood!!! Loving the setup here. Today's PR can ONLY be seen as a positive. The group that purchased the shares for $1,000,000, St. George Investments LLC, are NOT toxic lenders. Nowhere in the terms is this even remotely stated (via convertible debt dates, percentages, etc). They just want a piece of the pie, and are willing to pay a bit of a premium to do so. If that doesn't scream confidence in this company, nothing will.
Solid opportunity here. Great vision for the future, and all ducks being lined up.
BEWARE of those saying GRCK will spike. They bought in at a substantially higher price and are looking to unload on future bagholders.
The facts of this company are:
1) the AS WILL increase from 1 billion to 4 billion (was only at 500 million just before Christmas, so a 3.5 BILLION increase in THREE MONTHS)
2) there are still endless convertible notes (which will result in MORE DILUTION = the share price isn't going anywhere)
3) there will be a REVERSE SPLIT so they can raise the price (and at this point they will dilute even more)
4) there will be no spike for this company, as they haven't released any guidelines or financials, only fluff (look at their social media. Nothing concrete about GreyCloak or CBD.co, just fluff material about what's going on with the mj industry. This does NOTHING for the company)
5) there's nothing UNIQUE about this company. They sell CBD, well, so do multiple other companies. What makes them different? nothing.
Those posting here saying the price will go higher are simply saying that to recoup their losses. Once the price gets to their break even (if it ever does), they'll sell, and I guarantee you'll never hear from them again.
To anyone thinking of putting your money in here, I implore you not to. This company is a scam at the highest level. Consider the AS going from 1 billion to 4 billion as well as the pending reverse split (which will be followed by more dilution in order to pay off the convertible notes). GUARANTEE if you invest here you'll lose big.
Unfortunately for anyone who invested, GRCK is a loser.
With all due respect, Cheds, and others have been watching this company for quite a while. GRCK's intent, as stated by them, is to get the share price high enough so they can maintain their OTCQB status. There's not much time left to do so, so how else will they be able to achieve this? Answer: Reverse split.
Per their filings, the order this will go is:
1) hold a "shareholders meeting" (I use quotations because common shareholders only make up around 20% of the vote, effectively rendering them useless in any "vote". GRCK is not a democracy, but rather a dictatorship). This will increase the Authorized Shares to 4 billion from the current 1 billion (only 2 months ago it was at 500 million);
2) because of the share price of whatever it is at that time of the "shareholders meeting", being that it'll 100% be under the 1 penny threshold for maintaining QB status, they'll have to act quickly to "draw interest from investors";
3) They mention that the Reverse Split would be no later than December 31, 2018. My guess is they implement it immediately after the shareholders meeting. Reasons being there are still MANY convertible notes (which is why they need to up the AS to 4 billion - because even with the Reverse Split that will not change), as well as the fact that they have to pay their bloated salaries, which runs common shareholders around $33,000 per month!
If anyone can't see the doom and gloom for this company, that's on them.
Best of luck, and RIP GRCK (I'll be helping bury this POS)
AmericanBulls recommendation: QUIT
https://www.americanbulls.com/SignalPage.aspx?lang=en&Ticker=GRCK
Such a POS they won't even cover it anymore.
I'm out. So much hope. So little delivered.
Those hoping for a significant bounce must be kicking themselves if they bought .0014 and above. This is going nowhere but down. Looks like with all the convertibles bringing this down, the DEATH SPIRAL is in full effect.
RIP GRCK
Looking at their filings and the way they're conducting business for shareholders, its evident this is just a huge scam.
From the most recent Q:
"On October 17, 2017, the Company entered into a Share Exchange Agreement with Eqova Life Sciences (“Eqova”) and issued 1,100,000 shares of Series A Convertible Preferred Stock in exchange for 100% of Eqova. The shares are convertible into approximately 66% of the total outstanding common stock as of the date of the closing. Of the total shares issued to Eqova only 550,000 shares are vested and the remaining 550,000 shares will vest upon sales of $100,000 for three consecutive months or $300,000 gross sales in any calendar quarter. Any unvested shares as of October 17, 2019, will be repurchased by the Company at a price of $0.01 per share. As part of the acquisition, Patrick Stiles, is currently the President and CEO of the Company and is a member of the board of directors."
So, reading between the lines, reaching $300,000 is doable based on them saying that with Eqova they were on track to do that before the end of the year. Depends how shady they do their accounting Patrick will get another 550,000 shares.
Also:
"On October 17, 2017, the Company issued a Convertible Promissory Note, in the amount of $30,000, and a warrant to purchase 1,200,000 shares of our common stock, to Fred Covely to satisfy obligations owed to Mr. Covely by the Company. The Convertible Promissory Note has a maturity date of October 17, 2018 and is convertible into shares of our common stock at a conversion price equal to fifty percent (50%) of the average of the closing trading price for our common stock during the three trading day period ending on the last trading day prior to the conversion date. The warrants have an exercise price of $0.25 per share, may be exercised immediately and expire on October 17, 2020."
So, managements goal is to get to $0.25 so they can exercise their warrants. How are they going to achieve that (being that their company is a POS)? This is where the REVERSE SPLIT comes into play. Based on whatever the share price is currently at, they'll RS so that it's above $0.25 so they can exercise their warrants.
Damn crooks.
Here's what's going to happen.
They're sending out a proxy which is a formality because the preferred shares account for 80% of the vote. Therefore they can do whatever the heck they want. So they'll increase the AS to 4 billion, and come up with a RS #. That's all going to depend on how quickly this goes to the 000's (RS because for some reason they want to stay on QB?). Let's assume the price falls to $0.001, they do a reverse split of 1:100 and there are 350,000,000 OS. The OS goes down to 3,500,000 and share price is now $0.10. Do you think people are going to invest at this price given this stocks history??? With the AS STILL at 4 Billion even after the split, all they're going to do is continue to dilute the heck out of it, sending the stock plummeting yet again.
Shame. Pretty sure a few here had some hope for the company and its CEO? (Is there a CEO? We've barely heard from them).
On the bright side, not everyone came out on the wrong end. GRCK's management team still gets to keep their preferred shares, as well as a nice cushy salary (courtesy of shareholders).
For all those screaming dilution...pretty sure all of the 18 million shares today are all retail sells LOL
Nice opp to play the dead cat bounce
People should keep in mind that from the most recent Q, management has warrants exercisable at $0.25. Clearly you can see their goals and where they anticipate this stock is going in the not too distant future.
Exciting times ahead.
$0.01 (aka ONE PENNY), coming soon folks!!! Hey, when you're right, you're right!!
Currently @ .0036 (up 16%)
Agreed. I'm still bullish for the future of this company as well. I like that the price is holding at the 003 level, given how many shares are hitting the market. Personally, knowing full well that there are notes to be paid from previous management, I like that we're getting rid of/paying them off in large chunks (today for example, there's 20 mil in sells. I'll go ahead an assume that the majority of that is going towards paying off the CD, because why would an investor cut their losses by 40%+? If that is true, then just today alone we'll have paid off around $30,000 - a very significant portion of CD). Yes, short term it sucks for the share price, but hopefully very soon we'll be close to done with our obligations and at that point this will rise significantly.
Very much undervalued here.
Clearly you're out (as your linked post says). Why bother still posting??
You weren't happy and sold for a loss, which happens in this game. Others who were invested have stopped posting and have left gracefully. You can do the same :)
GLTY and all the best
I appreciate your enthusiasm, but on this you're incorrect.
Look at the 8-K from January 4 (ie. do your research/dd before spewing false facts). That being said, still a low share structure.
Section 5 – Corporate Governance and Management
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
Effective on January 3, 2018, our Articles of Incorporation were amended to increase our authorized common stock from 500,000,000 shares, par value $0.001, to 1,000,000,000 shares, par value $0.001.
The increase in authorized common stock was unanimously approved by our Board of Directors on November 3, 2017, and by a majority of our outstanding shares of common stock at a special shareholder meeting held on December 29, 2017.
As of November 8, 2017 (the “ Record Date ”) there were 146,674,359 shares of common stock outstanding and as of January 3, 2018, there were 229,829,116 shares of common stock outstanding. As of the Record Date and January 3, 2018, there were 1,333,334 shares of Series A Convertible Preferred Stock (“ Preferred Stock ”) outstanding.
Agree that more (good) news is needed in the short term, however you're 100% wrong when saying the company hasn't been posting anything on ihub or other mediums.
For example, only TWO DAYS AGO, Network News Wire posted on this very board (go to post #15567). In all, NNW have posted on GRCK's board 23 times. You can easily verify this, and then change your tune. Everything Patrick has said he would do he has done. All of the notes are in the open for all to see. Nothing has changed (aside from a renegotiation for better terms orchestrated by Patrick).
Everyone is frustrated, likely management as well. Really hoping this flips around.
So much potential for this company.
I agree. I'm curious/excited to see new filings. Per the most recent one, the share structure looks great for an OTC company. Under 250 mil Outstanding is fantastic, not to mention the large amount held by insiders. What I'm hoping for is more exposure to drive eyes to this ticker. Notes look about done (haven't seen a T-trade in quite a few sessions), so it looks like weak retail selling into the bid. With volume, the price could climb VERY quickly. I would guess that within a couple of weeks this will be well above $0.01 and establish a new base.
$699 = two mortgage payments? where do you live a trailer park?
What are your thoughts on this?
Agree. And if you look at the trades made today, of the 3 Mil in volume, all have been buys (not a single sell order).
I think it's almost time for a very nice breakout
Haven't seen any t-trades for a few sessions. This bodes well, and has me believing dilution is very minimal to done (though fyi there are smaller notes coming in the future). I'm really liking what I'm seeing. With further communication from management, as well as more volume (awareness), this will easily hit multi pennies in the near future.
There seems to be a very annoying new poster on this forum who clearly has not done any DD and is asking ridiculous questions (many of which should be directed to management).
Many/almost all questions can be found through press releases or through the sticky section of the GRCK forum.
What are your thoughts about this?
You're new here so I'll just assume you didn't do your DD and I'll help clarify as well as educate you (and anyone else that is new).
If you read the most recent quarterly (and I would suggest you do), you'll see all the convertible notes and their due dates. These notes have resulted in millions of shares of dilution. The lower the price went, the more shares that were needed to be converted.
The Authorized share on the OTC Markets page was last updated November 7, 2017
The Outstanding Shares on the OTC Markets page was last updated November 14, 2017
The Float on the OTC Markets page was last updated November 7, 2017
Much has happened within those two months. The previous reverse split was CANCELLED. A shareholders meeting was held with a vote to increase the AS to 1 billion from 500 million for strategic acquisitions (nothing has been said of that meeting, however I assume the vote passed and GRCK's AS is now 1 billion).
The positives I see going forward are that the notes I mentioned seem to have been tapering off, and I believe within the month they'll be finished. Additionally, they launched CBD.co earlier than anticipated. They had previous revenues from Eqova. And most importantly, they're in a space that is virtually untapped.
All we need is some decent buying pressure and this can easily run into the dimes (keep in mind that management has incentive to make this succeed, as their warrants are at $0.25)
As much as I support you wanting this to blast off, the float you think is 133 Mil is likely much more than that. There was quite a bit of convertible debt, and with the price bottoming out, raised it. The OTC Markets page is not updated, though it should be (and I know many of us would love to see the updated numbers). Based on the shareholders meeting that recently took place, we can assume that the Authorized Shares also increased to 1 Billion. Outstanding shares maybe around 300-350 Mil
Follow through for us "ONCE"??
Everyone asked that the RS be cancelled... not long after they got the message from shareholders they did so
People were wary about the website being launched on time... it surpassed that expectation by a few days
People thought the CD was terrible (I agree it was, however through previous management)... a few days ago they renegotiated on better terms
I, like others, would love to see the updated OS, as well as the upcoming Q to see where GRCK stands. I believe a PR will be put out in the next few days.
Can't expect this to go to multiple pennies, dimes, dollars immediately. I believe the platform has been established and new highs will follow. And until Patrick and his team show us why we shouldn't invest, I'll continue to accumulate and trade accordingly.
I can see this retracing to the low .20's before any significant leap (without news, of course). Volume has died down considerably after its massive run the past few days. Needs to cool
Unfortunately Batman is screwed for the time being. It's what happens when you go all in on one speculative play. They have nowhere else to go because they don't have the funds to do so. So now, they're just biding their time, hoping/praying the stock gets back to where they bought so they can leave.
Positives are that the stock WILL rise by many multiples (likely in the first couple months 2018), but they're just bitter because they went all in thinking "I'm going to make a ton of $$$ really quick". Hence the flip flopping of opinions.
Unfortunately, with the seemingly endless notes, all we investors can hope for is that 1) hopefully they're very close to finished and 2) that Stiles and the company are working their tails off to show the market some solid revenues.
They sold, lost money (from what I read, a measly $1000...high roller alert!! hahaha), and are now bitter because they thought it was going to go up 1000% in a matter of weeks. Also, notice the flip flopping of opinions. One day it's great, the next it's a scam. Which is it?!?! And if it is a scam, WHY did you invest in it in the first place? Damn broke newbies who don't do any research/DD SMH
All the best to those in for the ride
And thanks to those who actually post worthwhile opinions
Hahaha. Of course not. All I'm getting at is it does absolutely no good to dwell on the minute by minute action. Yes, pps currently is super undervalued, but if you believe in the stock (I don't think you do), then shut the computer and check back in a few weeks (unless you're a day trader - which I don't believe you are)
Yeah, because if/when it does, you'll sell and move on and we won't have to put up with your flip flopping opinions which provide absolutely ZERO insight to the future of the company
uh oh, you heard it folks...this ticker is in a death spiral. No interest. This is going to be bad.
They're only waiting/hoping it gets back to .02 so they can sell and move on. Not a long investor. I was also in USRM and they would do the same thing, flip flop their opinions - one minute it's great, next the sky is falling. As someone reading the boards, it's very annoying, as they provide no real DD
I believe GRCK will do very well, but people have to realize they're INVESTING in a startup and things won't happen overnight. Once notes are paid off and a solid investor base is formed this company can really soar
Considering the retail selling, this is holding up really nicely. Through the day 1.5 Mil Buys vs 3 Mil Sells, and the ticker is only down 2%. What does that tell you? That with any buying pressure this will move up easily and quickly.
With any catalyst this is boom town...and I believe that catalyst is coming soon
Turkey Day is SOOOOOO close!!
$3 by Turkey Day!
$3 by Turkey Day!
$3 by Turkey Day!
Everyone was led to believe $3 by Turkey Day!
Remember, hold those shares tight ;)
Gobble Gobble
Agreed. Not hard to see there were far more sells (retail, not dilution) than buys. That being said, L2 looked super thin all day, and any buys were pushing the price north. If/when people stop pulling out, this thing is going to rocket. You can see it wants to run, it just needs savvy investors who are willing to hang around for more than a day or two. Based on the sector and GRCK's products, this should trade organically along the lines many have mentioned - many multiples the current price. Any PR's from the company will just be a bonus.
Told ya ;)
More PR's coming which will catapult this to the next level. If you're holding, you should be VERY happy
It's CONFIRMED!!! No R/S :)
Details coming from the company very shortly
I did some simple DD and found out that you're heavily invested here (as well as Firefish). Awesome!! I mean, why else would anyone post SO MUCH about a stock they don't own - Adam that goes for you too (and we know it's ridiculous to short on the OTC)
Sit back and enjoy the ride, it's looking like a great one!! :)
It's a really good thing you're not invested in this.
I mean, what sane person would waste their time and energy constantly posting about the same stock? Just lunacy!!
PROBABLY best to find a company you believe in (like we did with GRCK), and move on. Yes, there will be some growing pains to endure, as is true with any company, but trust me, this one is a winner.
L2 looks INCREDIBLY thin. Here comes another pop!