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LOL !!!!
The top executives just abandoned ship. Maybe you should too..
Have you considered selling??
Hahaa. Check my post from last November. No revenue but somehow Richard’s compensation was over $400,000 in 2017. And who knows how much in 2018. Where do the investors think their money went.??!!!!
LOL. You guys are still waiting??
No revenue, but the company has raised over $1.3million in 2017 and 2018 by issuing stock. Management has been getting paid, you can rest assured of that. Check out the Executive Compensation in the 2017 Annual Report. You can see that Richard Kamolvathin's compensation was $475,924. Not too shabby, but maybe he deserves a raise in 2018 for all the sales he's delivering..??! lol... Unfortunately we can't see the latest #'s because the Company is over 2 months delinquent in filing the latest annual report.
It’s the standard warning message for a Reporting Issuer that fails to file a mandatory report by the prescribed deadline. In Grogenesis’ case, their annual report was due by August 31, 2018.
Just look up GROG on otcmarkets dot com
As you can clearly see under their filings, the company filed a request for an extension to September 15, 2018, but...(“shockingly” lol )... they failed to meet that deadline as well. This, of course, is quite common for companies that can not sell any product for over a year lol.. No revenue....Out of cash....Can’t pay audit firm...Auditor refuses to file reports until they get paid... and so the shareholders wait.. and wait... lol..
The realllly bad news is that many brokerage firms restrict any buying of shares for companies that have this warning attached to them. They only allow selling. Terrible news for current shareholders. The share price can only go in one direction.
Warning! This company may not be making material information publicly available
Buying or selling this security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
Bad news! Annual report apparently will not be filed by the deadline..
Zero sales for the last 3 quarters... and now this. Hmmm. Maybe the company can’t afford to pay their auditors.?? I’ve seen this movie before...
Parklife, - If you read the latest financial statements you can make some decent assumptions regarding your questions...
"Is there any Agroburst product in production? "
- This is doubtful considering the company's balance sheet. They have current liabilities of $498k and only $161k in current assets. It doesn't appear that the company is in a financial position to actively produce anything..
"Does the company even have a warehouse and any have any product in inventory? "
- The balance sheet shows Property, Plant, and Equipment of only $16,284. If you look at Note 3, you will see that this is entirely Computer Equipment. Therefore, no, the company does not have a warehouse. Regarding Inventory, you can see this on the Balance Sheet as well. The company has merely $4,082 in inventory.
From their financial position the company would likely need to be paid in advance for an order of any significance. Or somehow raise money to fund the production while they wait to get paid.??
"Is there any evidence of the company's operations? I think it's time and would ease my fears to see the company make a video tour of their facility"
As mentioned, the company does not appear to have a facility. Unless it rents something, and the rental payments are buried in General Expenses.. However, from page 16 of the Management Discussion and Analysis it looks like most of the Gereral Expenses are travel. Perhaps GROG outsources to another company to produce agraburst for them..?
exactly !!
people sell for lots of reasons, maybe they needed the money for something. most likely they just saw a better opportunity..
there will always be sellers. the problem here is that there are no buyers..
look out below..
Another pathetic quarter... https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12477777
Haha is spicknspan the IR guy??
Hahah. See you at $0.05 soon...
you'd have a valid point if there had been any real news releases EVER..
ok tough guys - looks like some offers out there. who's buying??
obviously management and insiders are not. they never do... why is that? maybe they know something you don't?? hmmm.
I would expect losses to continue for several more years... There will be continued dilution and borrowing as this is the only way the company can survive.
Whatever you do don't look at the Balance Sheet. It will burn your eyes..
The numbers are different alright!! yikes!!
Part of recent quarterly report...
GOING CONCERN AND MANAGEMENT LIQUIDITY PLANS
As of August 31, 2017, the Company had an accumulated deficit of approximately $5,311,425. For the three months ended August 31, 2017 and 2016, the Company incurred operating losses of $325,928 and $437,128 respectively, and used cash in operating activities of $356,202 and $136,862, respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company recognizes it will need to raise additional capital in order to fund operations, meet its payment obligations and execute its business plan. There is no assurance that additional financing will be available when needed or that management will be able to obtain financing on terms acceptable to the Company and whether the Company will generate revenues, become profitable and generate positive operating cash flow. If the Company is unable to raise sufficient additional funds on favorable terms, it will have to develop and implement a plan to further extend payables and to raise capital through the issuance of debt or equity on less favorable terms until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful. If the Company is unable to obtain financing on a timely basis, the Company could be forced to sell its assets, discontinue its operations and/or pursue other strategic avenues to commercialize its technology.
umbaza - August 31 Q Earnings were posted mid October..
Negative Cash Flow from Operations = $350k for the quarter.. yikes.
you can see the carnage here..
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12326401
You mean lack of earnings
same can be said for all biostimulants out there..
Just google ‘organic biostimulant’ ...there are too many to list
how is agraburst any better than the dozens of other very similar products out there being sold by larger more established companies.? surfactants, biostimulants, whatever you want to call them they are all very similar. made of the same ingredients.. is agraburst better?..doubtful.. is it cheaper?..no. so why would anyone buy it? maybe that's why there have been no sales to speak of for the past 3 years? hmmmm.
how is grog any better than any of the dozens of companies attending conferences like this one..? https://www.newaginternational.com/index.php/en/conferences/our-conferences/488-the-3rd-biostimulants-world-congress-miami-usa-november-2017
the only difference i can see is that these companies have some revenue to speak of and grog does not..
many million retired, yes. many million still out there, also yes..
how many millions of shares are now held by former officers and directors.?? it's a revolving door at this place.
how will the share price ever increase while these guys are inevitably selling, selling, selling...........
all of these directors obviously didn't see enough potential in the company to stick around. I doubt they will want to hold their shares for long either.. very discouraging.
is anyone else concerned in the slightest that virtually the entire board resigned last week?
this can't be good news..