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Was looking for proof that 4.5 million shares were purchased by insiders recently. Didn't find anything to confirm any insider purchases but I did find this:
MEDMEN SHAREHOLDER ALERT: Kahn Swick & Foti, LLC Investigates Claims On Behalf of Investors of MedMen Enterprises Inc. – MMNFF
January 31, 2020 | About: MMNFF +0%
NEW ORLEANS, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), is investigating claims on behalf of investors of MedMen Enterprises Inc. ( MMNFF). Such investors are advised to contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/otc-mmnff/ to learn more.
The investigation concerns whether MedMen and certain of its officers and/or directors have engaged in fraud, negligence or other unlawful business practices.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
Why doesn't Mike Elliott during his interviews ask why NONE of the insiders have purchased any stock since late 2018? One would think with the stock beaten down and such great "massive investment opportunities" the insiders would be opening up their wallets. GNBT is by far the worst investment I have ever made.
"Good video GNBT everything is still moving forward a few bumps in the road maybe a pothole or two." More like a GIANT CANYON!! I am still betting there will never be a split and NGIO will never come to fruition as a stand alone company and if somehow it does we will receive ZERO stock.
I hope you are right but I am NOT holding my breath.
Let me put it another way............just another excuse for GNBT to prolong the dividend. Which quite possibly may NEVER happen. This could be in courts for years.
I hate seeing anyone lose money so sorry for your losses.
10,000 shares at $1.62 but I will say this company taught me a lot about due diligence and analyzing PR statements.
At this point I have ZERO confidence in this stock and ZERO confidence that what we hear from the company is accurate. But I have already lost so much money I hate to sell now.
Get out the vaseline......looks like Joe mislead us once again!
Thanks for the new link. Can't help but wonder if that isn't a paid PR stunt though. This company keeps disappointing me over and over again. Since I purchased stock I have seen nothing but unfulfilled promises.
IF they hand out the dividend. IF they close any deals.
Jeez......that PR was from last August......
Bullish on stock? LOL. This is the biggest effing joke out there. They should be in jail.
Is that you Joe? I am a newbie and I am pissed. NOT ONE thing CEO Joe said was going to happen has happened. Meanwhile the stock continues to tank. There will be no S-1, there will be no spinoff, and it wouldn't surprise me one bit if the 1:1....oops 2:5 dividend never happens either. Looking forward to the day one of their PR's actually is factual.
I have not followed this company long. I see they hit their high in July and have been downhill ever since. I also see a myriad of broken promises one right after another. Have those of you who have been around a while ever seen anything positive come from this company? Anything that shows they might be an actual real business that might someday amount to something?
Not the smartest inside buyers....most would have an average well into the .20's for a stock that is trading for 6/10th of one cent....
Jump from less than 1 cent to 92 cents? Maybe we should all buy a million shares!!
I am 60 years old....while I applaud your enthusiasm I will be shocked if I live to see that day.
"Watch as the stock continues to rise". ROFLMAO
I am having a hard time understanding how this "dividend" is a positive for share holders. It just expands the number of shares. If the stock doesn't go down 40% on the day of the dividend I will be shocked. IF the dividend ever comes to fruition.
My guess we will all have 40% more shares than we have today and the stock will go down 40%. And the shares we were promised in the "new" offspring will never come to fruition. But that's just my opinion.
IF the dividend occurs and that is a big IF as we have heard the dividend story before (previous 1:1 with restricted shares not participating)it will most likely not do anything but dilute the share price by another 40%. The last insider to buy was a consultant who bought a whopping 9800 shares for $11,878. There have been ZERO other insider purchases in the last 4 years. ZERO confidence from the owners and employees of GNBT
Any predictions on price if FDA approval is received? If FDA approval is denied?
This announcement was on Ameritrade sink or swim so it must be real. ROFLMAO
That is an average of 15 million shares per active. I only have 20,000. LOL
I am always concerned when a stock trends slowly downward over a two year period and there are ZERO insider buys. If I was an insider and believer of this company I would be buying ever chance I get. But there appears to be no confidence from the insiders.
Says they are raising it but don't ever specifically state what they are raising it to. More PR BS.
If ifs and buts were candy and nuts, we would all have a Merry Christmas. LOL
Even at the lowest price in a year the insiders won't buy this piece of crap.
p. o. s. Merry Christmas!
Just not sure I see the demand......
I believe the market is reacting to the realization of what it will cost to market a product that most likely will not even catch on. Smoking rates have fallen like a rock over the last 20 years and will continue to do so. Vaping is the "lets quit smoking" tool. Not sure a low nicotine product will ever catch on.
They must have one helluva banker if he is willing to give a bridge loan. $6.2 million in yearly revenue. $428 million in debt.
Going Concern
The accompanying unaudited condensed interim consolidated financial statements have been prepared in conformity with US GAAP, which contemplate continuation of the Company as a going concern. The Company has experienced recurring net losses and negative cash flows from operations since inception and has an accumulated deficit of approximately $428 million and a working capital deficiency of approximately $32.5 million at October 31, 2019. The Company has funded its activities to date almost exclusively from debt and equity financings.
The Company will continue to require substantial funds to implement its new investment acquisition plans. Management’s plans in order to meet its operating cash flow requirements include financing activities such as private placements of its common stock, preferred stock offerings, and issuances of debt and convertible debt instruments. Management is also actively pursuing financial and strategic alternatives, including strategic investments and divestitures, industry collaboration activities and strategic partners.
These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the balance sheet date. There are no assurances that such additional funding will be achieved and that the Company will succeed in its future operations. The unaudited condensed interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s inability to obtain required funding in the near future or its inability to obtain funding on favorable terms will have a material adverse effect on its operations and strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and the Company may have to cease operations.
Not sure I agree. Sounds like a shit show waiting to go belly up.
The accompanying unaudited condensed interim consolidated financial statements have been prepared in conformity with US GAAP, which contemplate continuation of the Company as a going concern. The Company has experienced recurring net losses and negative cash flows from operations since inception and has an accumulated deficit of approximately $428 million and a working capital deficiency of approximately $32.5 million at October 31, 2019. The Company has funded its activities to date almost exclusively from debt and equity financings.
The Company will continue to require substantial funds to implement its new investment acquisition plans. Management’s plans in order to meet its operating cash flow requirements include financing activities such as private placements of its common stock, preferred stock offerings, and issuances of debt and convertible debt instruments. Management is also actively pursuing financial and strategic alternatives, including strategic investments and divestitures, industry collaboration activities and strategic partners.
These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the balance sheet date. There are no assurances that such additional funding will be achieved and that the Company will succeed in its future operations. The unaudited condensed interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s inability to obtain required funding in the near future or its inability to obtain funding on favorable terms will have a material adverse effect on its operations and strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and the Company may have to cease operations.
Does seem like a "pump and dump" but instead of a shady guy calling to pump the stock, it is the company itself that shares optimistic information only to pull the rug out from under its shareholders later.
If it happens it will be a great deal. But we have seen these announcements several times over the last few months and nothing has happened. If the marketplace felt like this was great news GNBT would have gapped up this morning. But that has not happened.
I think I am going to wait until it gets to 10 cents and then by the whole effing company