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White House on board with cannabis rescheduling.
https://www.marijuanamoment.net/biden-makes-historic-marijuana-rescheduling-announcement-applauding-monumental-move-to-reverse-longstanding-inequities/
Significant volume in the first hour of trading. Not sure if this is a one off anomaly or something is imminent.
In keeping up with this issue, the DEA has also received letters in opposition to descheduling. How the DEA comes down on it, we'll see. What's more damning is why the safer act hasn't been put through yet. Stupid really. But all we can do is wait and keep waiting. But once something cracks, it should be a catalyst to drive the sector upward.
Just think, you could have bought .21 to .22 over the weekend.😂
Keep loading.
Just think, you could have bought .21 to .22 over the weekend.😂
Keep loading.
I think termination of the merger isn't a bad thing. Looks like the market didn't take it well today, but the shares should remain intact at least.
Back to square one, after all of that.
We need legislation or descheduling of cannabis. Otherwise I don't see this sector going anywhere.
8K Filed:
On March 1, 2024, pursuant to Section 8.1(a) of the Agreement and Plan of Merger ("Agreement") and Section 12.1(a) of the Separation and Distribution Agreement with HyperScale Nexus Holding Corporation, previously disclosed on Form 8-K, and Form 14C, the parties mutually agreed to completely terminate the respective transactions. The terminations are not expected to have any material results on the operations or finances of the Company. The Company incurred no termination penalties. No legal proceedings are expected to be filed over the respective terminations.
After careful consideration, both parties concluded that the terms of the agreement couldn't be met within a reasonable timeframe and so didn't align with the Company's objectives and priorities.
Volume spike during first hour, almost two to one in favor of buy orders. If something else is brewing here, it's got my attention.
Should have popped big time, that's what 100m in dilution within 30 days will do. Such potential.
Up 38% in last five days. Not sure what to make of it, either something may be brewing or on a cannabis macro level, somebody believes de-scheduling of cannabis is sooner rather than later.
Watching the slow climb. This has crawled all the way back from sub penny. It's like it wants to get back to .02.
500 million. Well, I look forward to seeing how five.hundred.million will be allocated.
I expect a bombshell of a news report in exchange for a bombshell of dilution.
This thing will not stop diluting. My Lord, stop already. It was at 280m OS as of beginning of December. What the he'll are they doing, better be some kind of news.
Well, that dump was hard and furious.
Caveat Emptor went up on OTC. Who knows if that was meant to protect investors or some other motive. Either way, it's short win for now.
Interesting play here. Volume way up today.
Resilient, this one is.
Shorts trying to attack but likely causing a squeeze. Its not IHUB money either as we would see this on the hot boards. Flying under the radar which is extremely interesting.
Has anybody been watching this run the past two weeks?
#26 Most Read board. Got eyes.
Back in. It's been a long time.
Back in. It's been a long time.
Wrong, but what's it matter, they diluted.
I manually track OS from OTC Markets on these pinks because they can get away easily.
12/8 = $101,938
12/11 = $111,097
12/13 = $117,097
12/18 = $127,698
* millions
It's closer to 26M since 12/8, so okay.
This moved a lot lower over the past week. I looked at the OS and yep, it increased 27M since 12/8. Oh, the risk of pink land.
Ask won't come down off of .07. Let's go, move down to .025 please, at least close to the pps. Geez.
Let's go, I'm in.
Will this bounce off of the .0018 into .0028 range in the near term?
For those still here, the merger agreement extended to June 2024 per filing. I was wondering what was happening.
We'll see if the stock holds above .01 until then, but that's a long time.
https://last10k.com/sec-filings/AMMJ/0001903596-23-000931.htm
Updated 8K filed within the last few days. Appears a change in direction has been decided. AMMJ will operate independently. It's probably a good thing as the operations of both companies aren't aligned. The share structure appears will remain in place.
https://last10k.com/sec-filings/AMMJ/0001903596-23-000817.htm
Merger agreement says closing to take place 7 business days from signing, which was Sept 5. Anyone have an idea as to when the stock conversion will take place. I'd like to see this pps settle down from from the bleeding which needs to stop.
Welcome new investors. Here is a link to the merger agreement so you can understand the parties. I'm trying to wrap my head around the stock conversion and what it means.
https://www.sec.gov/Archives/edgar/data/945617/000190359623000695/ex10_1.htm
Wow. And, we're off folks.
This is big news. I was thinking in the back of mind that something could be brewing but with the macro cannabis news last week, i was like nah, the stock price today is just forward momentum. Some other tickers around the sector did well today, too.
I'd like to hear from the Company as to their thoughts on the strategic advantage this merger will provide. Could be very interesting.
https://www.conferencecalltranscripts.org/summary/?id=12515116
With the flurry of activity this week, there has been a significant change in the OS, updated to 171 million. 👇️
https://www.otcmarkets.com/stock/AMMJ/security
The stock option plan accounted for some of this. Maybe a future company update would shed some light on the rest of the issued shares.
Nevertheless, the market seems to have shook all this off and liked the insiders buying shares and the recommendation to change the classification of cannabis.
Welcome new investors and if you accumulated, good for you.
Some nice volume this week, partly due to the recommendation to reclassify cannabis. It's a start in the right direction.
https://www.cnn.com/2023/08/30/health/marijuana-schedule-hhs-dea/index.html
A few more filings within the last week. Some insiders have been buying shares, CEO among them.
https://www.conferencecalltranscripts.org/summary/?id=12496478
AMMJ files Form S-8. Stock option plan has been implemented. Company has issued 41 million shares.
https://fintel.io/doc/sec-american-cannabis-company-inc-945617-s8-2023-august-24-19593-6358
Q2 report interestingly appears to have come in with a $11,000 net gain which if that's right, I don't think I've seen this for a 10Q. Not necesarily a win because Product & Equipment really fell off as compared to a year prior. Other Income - whatever that source of funds was, pulled the Q it seems.
Appears no vote in July for Safe Banking. Frustrating but I suppose why should I be surprised...
https://www.marijuanamoment.net/senate-committee-chairman-says-marijuana-banking-bill-actually-wont-get-a-vote-this-summer-despite-his-goal-lobbyist-reports/
The OS was increasing for awhile on slow and small increments up to Jan 12 of this year. Interestingly, there's been no increase since then, making that 6 months in a row. Refreshing until we see the next catalyst - whether it's legislation, a company update, or next month's 10Q.