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C:\Users\Owner\Documents\Public Cannabis Company Revenue Tracker – Ranking Cannabis Stocks by Revenue – New Cannabis Ventures.html
This merger deal is not ready for investors to find it a good enough investment. GLDFF should have waited for Tahoe Acquisition to be complete and TRTC should have waited until they got their assets producing properly. TRTC is the only company in the pot sector that had declining 3rd Qt Revenues. 2017 Revenues were $10.12 mil and 2018 $7.08. If you were an investor why would you chose TRTC? GLDFF had a 3rd Qt loss of $5.5 mil and TRTC had a loss of $7.88 mil Combined loss of $13.38 for 3rd Qt. 2018 If you were an investor why would you invest in two weak producing companies? This has to be called off and let both companies finish getting their companies back to being what they hope they will be and then get back to the table. This premature attempt at a merger has exposed all the warts and weaknesses of both companies. Neither had a good hand to play at this time!The fact that the market has so much potential and things are going to be terrific only makes weak performing companies look like they are not worth the risk when other companies are doing much better!
Why Investors Are Not Buying the Merger is a result of two companies who are not ready yet to make a merger profitable. William Simpson CEO needs to get The Tahoe Acquisition Approved before he has a real hand to play. Without Tahoe wrapped up he is not in a good bargaining position and has left our shareholders with a .1203 factor in determining our # of TRTC shares for each share of GLDFF. With Tahoe we have more assets and revenue to get a much better deal. For TRTC, they are currently in a financially weak position. The only company with declining revenues in the pot sector. Last year 3rd Qt was 10.12 mil v 7.08mil in 2018. Both companies are currently operating at a loss. $5.5 3rd Qt 2018 for GLDFF and $7.88 3rd Qt for TRTC. Combined loss is $13.38 for 3rd Qt 2018. If you were an investor would you think this is a good investment? What needs to happen is to call off the merger and get the following in good order. GLDFF needs to get Tahoe Merger Done. TRTC needs to get all their assets producing like they keep promising. Its not good enough for investors to say Trust Us we are going to be a great company! Investors are obviously not buying that pitch! Investors right now have better investment choices than either of these two companies. For GLDFF shareholders only the share price has declined and if you hang in there you will get a rise in value when Tahoe is a done deal. GLDFF has the cash in hand to finish up what should have been done first before trying to get a deal done before we had a solid hand to play!
This management team does not have the proper backround to run this business. In all the years they have been in business they have never produced a profit.Their expertise is finance not business management. The industry is experiencing growing revenue while TRTC is not. Its asset management is poor. At this stage in the company's history you refer to substantial operations are coming online. Why now and not two years ago. New and better locations and licenses. So much time has been wasted and opportunities have been missed to make TRTC a good merger candidate. I have only touched on a few of the issues that are troublesome. On the shareholder side your problems were in full decline prior to the announcement of a merger. Since June 2018 SP had gone from $3 to $1.80 which was the price at the time the merger was announced. Prior to that a RS 15-1. Now a further decline due to poor 3rd Qt 10Q , share dilution due to Dominion NOTE Payable being paid back not from profits but by shareholders. It in not out of the question more dilution and further SP declines are going to continue. I do not sense a good or a fair deal here for the shareholders of GLDFF. I also can't rule out if dilution continues either another RS or possible bankruptcy. Time is not in your favor which is why I have a very narrow window of a few months. Losing $7 million a qt. is pushing the company in the wrong direction. I know you have a line of credit still available but at this point it should not have been necessary.
If you sell you absolutely loose. This merger may of may not happen. If it doesn't I think GLDFF will bounce back and do just fine. TRTC does have assets but they are not performing at a time when the other pot companies are seeing increasing revenues. Investors are seeing that so it hurts GLDFF because they may be buying into a bad merger. For TRTC its the obvious bad financial performance and toxic debt. Loss of share value is a killer! TRTC is not rated as the best choice to partner up with. Why our CEO is determined to see a merger is unsettling. With that said a good CEO could turn this ship around. WE also need as shareholders to have our investment protected and not see our share values suffer. There is little trust that management really cares if we actually end up with a good investment.
If there was a new CEO that had the proper backround the company could make it . a number of its assets are under performing but with the proper people in place they could get turned around. Don't put all your hopes that the fed is going to act quickly. You need better product, selling locations, CBD products, better brand recognition and create loyal customers. Its the ABCs of running a business. A lot of effort has been put into the business but the results have been poor so the stock price is falling.
Mitch McConnell is only for hemp which is for commercial use. He is not for recreational pot. It will change but it is still another 12 months off. The House cannot do it alone. Doesn't matter how many states approve of pot. I saw a post excited about Massachusetts going legal but I don't see either TRTC or GLDFF operating there so it a non issue for our immediate ability to earn revenue.
I think a lot of the selling is attributed to investors that see TRTC as a real problem. Some had prior dealings as shareholders and some are doing their homework and see this is not a good merger for GLDFF. I cannot blame investors who know Convertible notes or debentures will ultimately dilute share values especially if you don't pay them back with earnings but always with common shares which dilutes are investment.TRTC is under performing and investors see others in the sector with increasing revenues not declining!
TRTC is dropping because revenues fell in a market where everyone else was increasing revenues. Under performing! They have toxic convertible notes coming due at the worst time. They do not have the cash on hand. Their only option is to draw down on the Dominion line which is convertible to shares. When these notes come due they don't pay them the shareholders do because all TRTC does is issue more shares of stock which dilutes shareholder equity.They loose money every quarter. Company is poorly managed and has received an Adverse Opinion from auditors for lack of financial controls. GLDFF is dropping because the merger exposes shareholders to TRTC's toxic debt and bad performance. GLDFF was supposed to be operating at a profit by 2nd half of 2019. Merger should be stopped and restarted once TRTC shows it can improve it financial management and start making a profit.
House is not the problem Mitch McConnell (Senate) is the problem. He has refused to bring it to the floor for discussion.
Terra Tech_ Another Marijuana Merger, But No Revenue Growth - Terra Tech Corp. (OTCMKTS_TRTC) _ Seeking Alpha_files
I am very sorry to disagree with you. GLDFF has just enough capital to make it but not carrying TRTC debts along with it. This makes no sense at all.
Is Blum San Leandro hiring because the staff quit? And you are saying WEHO is not even a reality yet? You need revenue now!
Accumulate but be careful of the possibility of a Bankruptcy. No price paid when that happens will ever return your investment.
I just contacted our CFO to make sure he focuses on what convertible toxic debentures do to the viability of a going concern. Investors do not support that type of financing. TRTC has no choice now but to draw the last sums available in their line of toxic credit. If I was a gambling man I bet the announce of the merger being called off comes before the announcement of the Federal Government that pot will become legal. Your entire hopes and dreams are all tied to pot becoming legalized by the Federal Government. That is one thing you have absolutely no control over.
Both conversions to common stock will drive the stock down and further dilute shares. I am sure the other management is witnessing 1st hand the effect convertible debentures have on investors willingness to stay or just get what they can and call it a day. You have been spot on about this very early on. Going forward TRTC has no choice but to continue to draw down on their toxic line. Must be giving plenty of thought to the management of GLDFF wondering how quick the ship sinks completely.
1.4 million shares drove the market price down. Mostly small purchases pumping the price a little back up but not what you would call smart investor's looking for a rally. Tomorrow I believe is a short trading day and could also be a problem for the stock price.
Investors have to make up their own minds. Other than the merger GLDFF is doing just as we had anticipated. This is an eyeful to the management of GLDFF of how toxic debt can dilute shareholder equity, drive down share prices and cause investors to flee. Hard lesson but it would be good for management to comment to shareholders as they did the other day. Other posts have pointed out more Dominion Notes are maturing in December and Feb. This will continue to dilute share prices for awhile. Going to have some ups and downs but over the next month it will be difficult not to continue to go lower.
I saw your message. This drop is temporary. Once the merger is called off shares should rise.
They should but the fact that they even tried to merge with TRTC is mind boggling. I hope they do not try to renegotiate a new deal and try to buy them now.The debts are a killer and the assets do not produce!Move on to a new opportunity!
I agree with that but as you say it has to be set up in each state. Cannot ship from state to state. Fed law regulates interstate commerce. Laws will change but not fast enough.
To sell across State lines Federal Law has to change. Still 12-18 months off. Not enough time with the expenses that you point out. Doesn't make any difference what the States do. Its just a post to make it look like change is right around the corner.
$7.9 not $15 mil
absolutely GLDFF also took a hit on SP when they arranged for their $15 million Stock went from .22 to.15 Investors despise that kind of financing. GLDFF at least has only had to do that kind of financing once.
convertible shares selling to pay off toxic debt note. More to come!
Too bad he doesn't get to vote in the Senate. Still wouldn't change how revenue is taxed or if pot can be shipped out of the state it is grown. Without Fed approval banks will not lend on pot ventures. Still need toxic convertible financing. Not my doing but once the Fed approves whom ever is still in the game wins big time!
You need the Senate to allow it to even come to the floor for discussion! Not going to happen with Mitch McConnell in the next 12 months. He is for hemp not recreational pot! Big Difference! Dems only control the House. Do you really thing the Senate controlled by Republicans are going to give anything to the Dems? It will happen but not soon enough!
The Single Biggest Mistake Being Made is Your Miscalculation of when the Fed addresses Legalization. It is another 12 months off at best and you do not have the financial means to make it to the finish line. Your financial condition now poses a real risk to GLDFF to want to go any further! They have no reason to be dragged down with your debt structure and no liquid assets to support the debt. They are not stupid!
I have never read one single bad statement regarding our CEO,CFO and their entire team. No stock wipeouts. No personal bankruptcies. They have build up the assets of GLDFF just as good as you possible could. We were all blindsided by all of this and the way it was about to be shoved down our throats. I feel bad for the investors who bailed out due to prior bad experiences with that company but I hope they come back and join us for a great future with a great management team.
So is Bankruptcy!
I have been saying this all along. And pot will not be legal on the federal level for 12-18 months yet. No way to hang on that long.
Notes became due that had convertible options. New shares were issued and could be not only were all of them sold but many more of investors raced for the door. Over a million shares sold! Toxic debt financing has a way of ending up badly. Once our team gets out of a bad nightmare our shares will start to climb back! Another note is due in February!
It is time to put an end to this nonsense! Send your emails to our CEO and let him know No Merger! I wouldn't even buy the assets that they have. This is what toxic convertible debt ends up doing to a company. There does come a day when you actually have to turn a profit!You cannot keep paying off debt buy issuing more common shares to the debt holders. This only dilutes the common shares and at the expense of the share holders!
I agree. Time to hit the road.
I think you mean submerged! Like underwater!
Didn't 250,000+ common shares get issued to pay off a note payable. I'm sure the holders of these shares are going to sell and not wait for pot to become legal like some of the longs seem to think is ready to happen. Another note is due Mid Feb same thing could happen
Neither stock is doing well. Not good for anyone. I continue to send info to GLDFF so I hope it helps!
I have a difficult time getting past the Industrial Enterprises of America Inc (Plantiff ) v. Ardent Advisors,LLC,et al. I will leave it for now as et al. This is Case No.09-11475 (BLS) It is a bankruptcy of Industrial Enterprises of America Inc. where the shareholders were wiped out. A very smart observation uncovered a scheme, didn't actual conduct the scheme but non the less received $500,000 in a stock payment from that company to show the company how the scheme was set up and how it was operating.The stock payment was illegal as was the receiving the stock. When the company went bankrupt the settlement required repayment to the shareholders so as to avoid prosecution. Take the time to look at what happened.
I am sure TRTC has presented all its assets to be reviewed and will have to show income/loss for each. They will look at all of the assets and hopefully determine if they are performing and calculate what they are actually worth. You had pointed out some of the leases that were for properties that were not being used. All of this will factor in and if it can't be addressed it could cause the deal to fall thru. From my talk with them if this can make sense they like what could be a good combined asset base. As a shareholder I would just like to see us get treated right and just build up the share price. I doubt we will ever see a dividend!
The factor was presented when TRTC was 1.80 and GLDFF was around .22 So if you had 1000 shares at .22 it was worth $220 to convert take the 1000 x ,1203 = 120.3 shares at 1.80=$216.54 just about on the nose. Hopefully it gets adjusted at the conclusion to be fair. that's why it is important for both shares to keep the same proportion to the original calculation. Otherwise you have to correct the #s