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I have never questioned whether or not they are or are not in business.
I believe they are in business, but it's easier and far more profitable to move cash generated by their business directly to their bank accounts. This seems much easier than running a penny stock scam, paying dividends, taking out predatory loans to pay themselves all while running the long term risk of legal and regulators coming down on them.
I still believe they moved their business elsewhere. There's a minimum viable effort they need to keep penny stock problems at bay. The occasional BS SEC filing or random instagram picture are enough to keep the few that give a damn about this company from taking any sort of action.
Well, seems like it's definitely all she wrote.
One of the other tenants said they moved out. Found out by calling the flower company at the same address, said they left a month or so back and were looking for a different place but shut down the operation at this address.
That's all she wrote!
Why bother filing at all at this point?
What's their reason for keeping up the pretense? Is it to hand off to a different company/scam? EG to recapitalize SIGO as a new ticker doing something else totally unrelated?
Is it to buy time with regulators for what is an inevitable cost and headache to the principals, regardless of what SIGO is or is not?
Valerie must be out. See the current latest filing:
https://businesssearch.sos.ca.gov/Document/RetrievePDF?Id=03823584-28231359
Ray Chacon, whomever that is, is listed as CEO, CFO, Secretary and director.
Per my earlier comment, it appears whatever is left of the operation was transferred to someone else. I think it's safe to now assume what is this ticker is dead. There is simply another person who secured the licenses and assumed operations using the VBF legal entity as a new, private entity.
Here's your evidence.
On the Colorado Business Entity Search for SIGO, they were delinquent in filings but submitted at the end of February.
All prior filings had been signed by Valerie. The latest is made by one Ray Chacon.
This agrees with my statement before. I'm not denying there being a grow at SIGO's facility.
But in some way this has all changed hands and this ticker is not ever going to be current nor will shareholders benefit from any profit or sale of products made over the last 2+ years.
Looks like what happened is pretty clear. There is a new tenant or tenants growing in the same facility using the VBF licenses, probably operating under a new legal entity with a new name.
The SIGO team which did the growing is still involved, but exactly how remains to be seen and may never be known.
No doubt someone is profiting from the farming and manufacturing efforts, but any connection to this stock are finished.
There won’t be any more filings, this is a dead ticker until it’s closed down.
Apparently there is another board where those with an optimistic perspective on SIGO continue to post. I was not aware of the other forum until I happened onto it by accident recently.
They seem content enough to take Valerie at face value when there is zero binding evidence to substantiate her statements made to them in private.
Pictures on Instagram are just that. Those are likely the pictures of the new operators grow in the same facility.
It's great they responded, but they have to prove there is truth behind their words. They have not delivered on any of their promises to date, they've just layered on more promises in email.
I did not go in. We caught someone outside the facility from another grower.
Call it whatever you want, I don't have an agenda. If they get current on their business license, get their licenses renewed in the next 10 days, provide audited and certified quarterly and annual filings overdue with the SEC by when their licenses are set to expire, I'll be the first one to admit being wrong.
Until then, you have no basis to prove I'm incorrect.
They're gone.
Was in the bay area for a large tech conference last week, which was a bust due to coronavirus.
Since most conference attendees were social distancing, a couple coworkers and I took a ride to see if they were still operating. They are not.
There appears to be a different grower setting up operations inside the same space. I am not sure what became of SIGO but they are most definitely no longer in business.
Since their licenses expire in 11 days, that would be the final straw IMO.
For closure, it would be great if someone could figure out how it ultimately ended for them.
I try to avoid being conspiracy minded, but I figured out what the other message board often mentioned here is and took a look.
An individual committed to SIG posted that, as a SIGO shareholder, there isn't a logical reason for a product company to allow their phone line to be disconnected. After all, how would people know where to call to get your product?
That message appears to have been deleted.
The forum owner there is a former user here, and the only board that user ever posted to was this one.
That leads me to believe it's one of the principles from SIGO posting under an alias. It seems likely since they are the only individual to claim to get responses via phone and email from SIGO, and is the last known individual to have visited their premises.
That individual also seems obsessed with the idea there is a boiler room obsessed with trashing a delinquent, microcap pink sheet company which hasn't put out a press release in years that hasn't had an average trading volume over 20k daily shares in nearly a year.
Sure seems like it!
I checked in my spam folder and sure enough, there was a bounced email reply from my inquiry early in the week.
Can anyone confirm they are still in business?
Their business license with California remains suspended.
They are a short time away from having their Colorado business registration become delinquent.
I tried emailing this week, no response.
I tried calling this week, no response.
Their last instagram update was over a month ago.
Their new transfer agent, Michael Fischer, was not aware of whether they were still operating or not.
On top of that, there've been no updates in filings and no PRs. The only news is the aforementioned SEC lawsuit where their ticker was involved.
Looks like it's over for SIGO. VBF has a status of FTB SUSPENDED by California.
From the CA business entity search website:
The California Business Search is updated daily and reflects work processed through Wednesday, October 23, 2019. Please refer to document Processing Times for the received dates of filings currently being processed. The data provided is not a complete or certified record of an entity. Not all images are available online.
C3823584 VBF BRANDS, INC.
Registration Date:09/04/2015
Jurisdiction:CALIFORNIA
Entity Type:DOMESTIC STOCK
Status:FTB SUSPENDED
Agent for Service of Process:VALERIE BAUGHER
20420 SPENCE ROAD
SALINAS CA 93908
Entity Address:20420 SPENCE ROAD
SALINAS CA 93908
Entity Mailing Address:20420 SPENCE ROAD
SALINAS CA 93908
California is a hot mess.
Not sure if you all saw this: https://abc7news.com/autopsy-tech-exec-kidnapped-in-santa-cruz-co-died-from-gunshot-wound/5600750/
This tech guy was also starting his own MJ grow, and the belief is people in the illegal part of the MJ business murdered him to get him out of the legal growing business.
What that means is I'm sure SIGO and others are paying close attention, and until California gets it act together, there's limits to what a SIGO or anyone else can do without having to worry about organized crime on top of everything else.
God only knows part of SIGO's problems are hush payments they need to make. Good luck reporting that on a filing.
How soon do you think this one will end on the grey market? Or do you still believe they will find a way to quickly get current and accurate on their filings?
Most of that report appear to be made up.
Here is what the report says about termination of the relationship with REI:
"n December, 2018, SIGO and REI Extracts mutually agreed to terminate their joint venture. All equipment delivered by REI Extracts was removed by REI Extracts and the Company ceased utilizing the master grower provided by REI Extracts."
Yet on their instagram, on 1/10/2019 they posted a picture of extraction equipment being installed:
https://www.instagram.com/p/BsdleMOnWzu/
Their comment made with the posting: "vbfbrands . New extraction equipment being installed. "
So either the filing is made up or their instagram cannot be trusted. Or both.
Time to stick a fork in this one. Good luck to all.
4 press releases in 2019. One of them earnings released without auditor review and another a statement the auditor did not approve the release. One was earnings for 2 years back.
I contacted the auditors, they were willing to state they are owed fees for the work performed, so it's unlikely future earnings reports will see the light of day.
Clearly they're growing and selling product, but seems they are faring better from cashing on on those sales before worrying about their standing with the SEC.
Hope everyone is able to take the writeoff this year for tax reasons on their losses.
Guess you’ve never seen Silicon Valley.
Those are fake accounts paid for on the cheap to click factories in places like India and Bangladesh.
They are usually caught and deleted quickly. They can also get your Instagram account deleted for knowingly paying for them.
I’m not defending them and I’m not disagreeing with you. I’m just saying if any company in this space has extra shenanigans to get in order to have their finances audited, it’s this one.
I sold my shares because it’s not worth the risk to hold. If and when I get alerts they’ve gotten current and share a plan to grow their operations, I’ll take a look at buying in.
Being a cash only business which has restrictions on banking creates audit legwork to validate financials.
To sum up your visit:
You validated two data points which were not in dispute for most here: there is a legit grow and manufacturing operation at the address on record, and there are accounting problems related to the nature of the business which are impacting their filings.
I do not believe your visit answered any of these open questions:
1. What happened to their loan from Fife? Was it paid off? Did they draw the whole 4 million?
2. Why does SIGO use tax IDs for other shell companies in their 8-Ks and other filings with the SEC?
3. What are they doing with the product they grow and manufacture? Is it being destroyed? Sold?
4. Valerie clearly cares about the operations and the business, but does she care at all about the equity and its success?
For me, I don't see the stock and the operation as the same thing. I see no reason to question your or others' perspective that Valerie is invested in seeing VBF be successful.
I also see no reason to assume VBF's success will be reflected in SIGO's success. This just seems a vehicle for manipulation by JWM and Fife in exchange for cash to fund VBF's growth.
I have started to unwind my position, but SIGO is so illiquid it is going to take a while to complete.
Good luck to all who stick around in SIGO.
That could mean anything from you validated they’re a scam to you believe they are legit. Looking forward to your report.
Not on the 27th, that's Memorial day.
It'll push to later in the week.
I already have.
If no news or change by the 17th of May, then I'm selling and going back to the sidelines. If on the 20th the stop sign is removed and this spikes, I won't lose any sleep.
I never enter a position without a clear exit strategy and I do not deviate. For any position. I don't trust my gut and I don't allow my emotions to influence decisions. I learnt that lesson in the aftermath of 2008.
I do not trust Valerie, but she has responded to all of my emails in due time. I've gone back and reviewed all of them, she never lied.
Do not lose sight of the bigger picture. They do not have to project a company which is going to cure cancer. The bad news is baked in for now. There will be an epic run any time now and an excellent trade for anyone who can put aside any bearish or bullish sentiments. That run will be predicated on getting current on financials, removing the stop sign, and giving realistic guidance for the next fiscal year.
Focus on that and ignore all else. And set a deadline by which you will exit if this stays in the .20 - .32 range without news.
Define better.
First objective they need to address is that stop sign. That will allow the price to rise some.
The 2018 financials don't need to be great. They need to be honest and show forward progress.
From that point, sharing a strategy and a revenue forecast should be enough to juice the stock.
It won't take much.
There’s something that changed for the better. Curious to find out what.
Anyone notice the last update was issued as a PR and not as a 8-K? Also, the grammar and spelling were spot on in the press release. Finally they refer to VBF as a subsidiary.
This suggests they do have a firm working with them on communications.
Go compare this to any past company update.
No.
You all jumped to ridiculous conclusions that I was manipulating stock because the volume was so low that my market orders executed from ameritrade in a batch of 1 shares and others below 100 shares.
I purchased IIRC about a month back, and I'm holding 25k shares at the moment.
Yes, that’s what I’ve been saying for a year. The catalyst and volume for Fife to cash out for more than buy dumping at low prices and volumes is imminent.
There is no reason to dilute beforehand because they can push this up really high on the low share count to sell and then short from a ew 52 week high alongside pressers about new shares or investment to fund expansion.
There's a decent chance they never file financials.
There's a possibility SIGO/VBF is sold given a provisional license has been granted. Until/if CA fixes their regulatory framework, they have a valuable commodity they could flip for a large profit like NXGWF:
https://www.zerohedge.com/news/2019-03-16/10000-legal-california-marijuana-growers-jeopardy-state-faces-pot-extinction-event
Regardless, I still believe there's life in this corpse over the next few weeks and am holding for a higher higher than reached in early 2018.
I've done well on other trades and most of my holdings are in cash and gold miners. Some degree of risk is OK, this seems as good as any for my particular situation.
I see this as being more on the side of risk than reward. It wouldn't surprise me if I net a large loss, and I'm OK should that come to pass.
Volume is ticking up slightly. They are due for news soon and I believe if they are going to send it to the trips they will do it from a higher price. If they happen to get their annual and surprise the spike could be fun.
I have a stop in to limit downside should a negative catalyst materialize.
I certainly wouldn’t recommend anyone do what I am unless you’re prepared to lose.
Not a paint, not manipulation.
I've taken a position this week and have been messing around to see how easy it is to push this around in one of my retail brokerage accounts.
I dropped it from the 1 share purchase and propped it up yesterday.
I now have 20k shares and I'm gambling on near term upside. I don't plan on holding more than a couple weeks, so if nothing happens and I sell, and there's no volume, you now know what it is pushing the PPS back to .20 or below.
Everything skeptic about this company I still believe - it's not on the up and up. This is just a trade.
It gets better. You can google the email address, below is one of the results from a page on a different site.
Emit would have you believe a fraudster went out of their way to pretend to be Valerie.
VBF_brands_cannabis
Oct 2, 2018
We are California based licensed pot growers and sell top quality grade hybrid, sativa, indica and CBD hemp flower strains 99% organic. Hash, wax, CBD oil and extracts, vape pens and cartridges are also available. We supply to both patients and recreational stoners. Our strains help for treatment of terminal cancer, diabetes, pains, depression, anxiety, and many other more complicated conditions. Visit our website to order https://www.vbfcannabis.com Age restrictions apply; 19+ only
I'm curious - why do you believe an entity which hasn't held up their end of their obligation as a publicly traded entity?
You can believe all day, but they've not given any reason to substantiate whatever hope you've latched on to.
I mean, it's been what - 8 months of next week they'll release their financials and news is around the corner? At what point will you concede they are not coming - not now and not ever?
Help me understand what your evidence is for believing what you claim to think is awesome.
Oh?
They seem to be desperate to sell their product. Saw a commeoom instagram that links to this website based at the same address as SIGO, where they openly share how to get weed sold and shipped anywhere in the world.
That is either buyer beware because they’ll just take your money and never send anything or asking to get into deep trouble with the DEA:
www.vbfcannabis.com
Website was set up at the end of September of 2018.
Unfortunately no the likelihood of any SEC action anytime soon is close to zero. The shenanigans in DC are affecting the SEC hard - not just because most employers were furloughed but many are using opportunity to seek employment back in the private sector.
I was at a NYE party in Logan’s circle and ran into a few friends from college, including one who is a prosecutor at the SEC. He is not happy about his unplanned vacation given he lives in the district, has 2 kids and his wife works to keep busy more than to win bread.
I mentioned SIGO - he did not have awareness of them (and I wouldnt have expected it anyway), but he did say that publicly ttraded cannabis companies as a whole are easy targets right now with so many republicans at the SEC and so much illegal activity in the sector.
I’m sure this fact is not lost on SIGO either.
No disrespect, but your posting history suggests everything in which you invest is a terrible idea.
Why would you want to buy SIGO?
If you read that (or any other in the financial media) about the presentation a short seller gave, this is one of the larger and publicly traded companies engaged in shady, Wade like fraud:
"…Grego said Aphria engineered a mechanism to siphon off money to companies held by insiders in South America and the Caribbean to the detriment of shareholders, according to the report. The short seller said Aphria purchased companies in Argentina, Colombia, and Jamaica in September from Scythian Biosciences Inc., now named SOL Global Investments Corp., which had acquired them shortly before at a “significantly lower” price from three Canadian shell companies."
Crazy what gets folks excited here.
It sure looks like that money they raised is robbing Peter to pay Fife. Just a hunch.
Given there are now multiple classes of shares reported using 8Ks from different tax EINs from entities based in different states, I don't know how anyone, regardless of your investment on SIGO, can tell what is true and what is legally binding.
So here it is, near the end of the year, and nothing has materially changed.
A pump and dump remains on the horizon. To do so requires getting that pesky stop sign removed so the general public can buy and shares more easily.
Two PRs out of nowhere seem to fit. I bet more are coming. And the pump will be so spectacular everyone who wants out will be lulled into holding only to see this smolder and crater below its price now.
That time feels soon, may everyone trade accordingly.
And if anyone thinks SIGO is legit, please go read about Aphria.
Here's a link: https://www.valuewalk.com/2018/12/aphria-inc-apha/
"Valerie does not owe anyone on this board anything. SIGO is heads down and focused, IMO. "
What? As a publicly traded company registered with the SEC, she actually owes many people here quite a lot.