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Note also that the Company is going to have to record a huge gain on the sale of that stock. I think all of it hits the income statement because the companies are publicly traded so an installment sale cannot be completed. For tax purposes, they should have most of that gain offset with prior losses. Retained earnings at the end of this year will be positive so future readers of the financial statements will take positives from that. Looking good!!!
I am anxious for the audit to be released so as to compare to prior released information. Hoping they are in line with each other. I agree with you that the deal appears to benefit VATE more so than Kona. I think it may speak volumes about RC's character.
Thanks for the feedback. I'm with you that we will end up pretty happy with staying put. I am around the same cost basis as you overall.
Hey Knife, what are AON bid traps?
Thank you for sharing. This company is not a pump and dump as so many recent posters keep claiming. They have ulterior motives for spewing negativity and I hope people realize that.
Out of curiosity, are there people willing to share their highest buy-ins of KGKG and whether they are still holding it? My highest position is .1241 and down 65% on that purchase.
I'm with you Lemmi. Management has been spot on with all their PR's (though some things happening later than originally stated). No pumps with this company even though I have wished for a few to meet some initial sell limits I have. The 4th quarter wait is the difficult one since reporting comes much later than the other quarters, but I expect uplist and some state wide distributor announcements to show we are on track. Like you said, tick tock.
Agree with you. Once they scare enough people into selling and they load up, they will then promote the stock to secure gains. They probably will do so under different "names". It wouldn't surprise me. Sad it can be allowed.
No one sticks around to simply bash a stock unless they have ulterior motives. It makes no sense. They must have some other usefulness in life. You really have to have a strong stomach for volatility in Pink land to put up with this crap.
What truly sucks is that PURA, a true pump and dump, is trading higher than KGKG. Think about that. How does that make sense? Furthermore, there are a number of cannabis stocks that have no future and trade higher than KGKG. Why? Who knows, but take that into consideration when evaluating KGKG. This company has great products, continues to grow exponentially, and is as clean and transparent as they come financially. They have a solid future from all looks to it.
I'm sure there have been posts about the products, but looking for a quicker response than going through all the posts. What are thoughts about the products?
I like the bottled tea and so do most of people I have given samples to, but the iced coffee is terrible and that is the same reaction from about a dozen people who I gave samples to. I have not tried any other products of VATE. Is this company going to make it?
Glad I got out of Aurora, Canopy, Hexo, and a bunch of others. Use to have 50 cannabis stocks and now down to 6 or so. The sector is taking a beating. This Company will do well. I think there will be some nice surprises down the road. I hear you about the leaf on the can. I always wondered about it. There are so many "uneducated" consumers out there regarding hemp, CBD and cannabis in general.
Well there is at least one good thing with trading in the Pink markets.
No extended hour trading.
The entire sector is taking an incredible beating because of earnings reports this week. Canopy Growth is down 16% so far today because of their earnings report this morning. Who knows where they end up a year from now, but remember.... we do know where KGKG is going. More and more distributors, larger established distributors, up-list, great products, positive trending government support... the long term really is bright.
Thanks Knife. Lots of the board members don't understand the information that's out there if they even took the time to look. I know the majority here appreciate your sharing comments and input.
I have no problem with an opinion that the share price might go down. But back it up and share why you think it may go up or may go down. Be useful. I learned a lot from the long time participants on this board and I am eternally thankful. I see lots of potential with this company and hope all of us here benefit greatly. If the only people investing in this company are on this board, then we are all in trouble.
If you are in a position with losses, you can certainly consider selling to lower your taxes. However, you need to wait 30 days to buy back in or you end up with a wash sale and lose the tax loss benefit. The risk you face is that the up-list occurs while you are waiting to buy back in. I think the up-list can add .05 to .15 to the share price very quickly.
Not sure why you keep addressing tax loss selling on this board. Most on this board would be selling at gains and have to pay taxes. People may have positions they could sell for loss but not worth the risk of waiting 30 days to buy back in. You have a different agenda and yes the longs are hanging in there with remarkable stuff.
The best thing about the future of this stock and stock board is that when we get those inevitable gains again, we lose your negative chatter. And that will be a beautiful thing.
You are obviously a fan of KGKG but not in the short term. How far down do you see this stock going? When is the uptrend in your opinion? When is it a buy? What are your long term thoughts on the stock?
March Madness; I like that. I'm sure it will be good news. News will be out around April 15 on first quarter.
Looking forward to 2020 projections. As always, it will be conservative and that's a good thing.
I totally agree with you. Wish I had funds to invest. Great buy in and will easily triple in share price within a year.
Chsapeak, why waste your time with nonsensical posts. You just get more nonsense asking for a response.
I think we will see $1 before 0.00. You best get out of the sun, the heat must be getting to you.
That would mean anyone selling under .07 will be losing out on some very nice gains that are soon coming. Wish I had more cash to buy at these levels.
The majority are interested in selling, just not at these prices. They know what they own.
Tried bubble gum, pink grapefruit, and candy apple over the weekend. Great flavors. All great as alcohol mixers as well. Four neighbors tried for first time and they love it as well. All agreed they would buy on taste alone and don't care about it including hemp.
Tractor, with all due respect, I have read your post a few times and have no idea what you are trying to say.
I believe the reason people are not buying is because it's the same people loading up when they can. Sellers are generally selling under $2,000 increments. Do you believe there are MMs playing with this stock? Do you think an up-list will help the share price?
So what price do you think this stock will drop to? Where's it heading in your estimation? You must have a target to get back in since you are actively participating on the board daily. Your thoughts could be helpful to someone. Some support would be helpful besides simply calling this stock a delusion cow, illusion cow, deluded cow, etc. Does this company have any merits? Any hope to provide returns on investments?
Why do you think there is no one absorbing the ask at .062?
Weird trading day in the cannabis sector. Low volume everywhere. Not even 800,000 shares of KGKG traded today at nearly 2 PM. Got some filled at .0622 yesterday and today. Hoping we're now done at the low 6 cents. Didn't think we would see under 10 again. I'm scared to touch anything but KGKG in the cannabis sector. Need to pick your pot stocks carefully going forward.
I think that is an excellent point youwish.
"We know about 100m tied up in long hands that we know, that's 1/7th the shares". The 100m is a conservative guess and is probably held by less than 20 investors on this board. And those positions are only growing.
Then you have a bunch of other longs who don't have millions of shares and they easily hold collectively another 100 to 200 million shares. When this stock up-lists and more people are exposed to it, we will get a nice jump. It's around the corner.
The two run-ups you mention were nice to cash out if you did not believe this company would see those highs again. It's also great to sell and buy more shares at a lower price but you better be disciplined to put money aside to pay your taxes. I think the true longs know what they have and do not want to play the flipping game. They expect this company to do extremely well and are looking at long term capital gains versus short term gains which are taxed at a higher rate. Comments such as watching in disbelief, assuming things WOULD NEVER HAPPEN, self-proclaimed elites, etc. is simply your trying to scare investors. You really need to break down investor positions versus trader positions. People who are "ALL IN" on this stock cannot risk flipping shares when they might not have money to pay taxes by April 15 which gets closer and closer every day.
Yes… patience. But I would be lying if I said I wasn't hoping for one totally whacked out trading day where this runs to $1 like SHMP or POTN or even .25 like PURA. Not only would mama be buying new shoes, but daddy too!
Do you think the sector will perform in the next few months like in the past? The last 4 years, the sector has dropped significantly leading up to this time of year and then runs from November to February. Not sure what to expect. I really thought this summer was going to be different as a more established industry.
Curious what others think with the next four months...
Delusion cow.... lol. I learned not to chase stocks when they run. Generally that has worked out for me. For many longs, this stock has been a profit cow and cash cow for those who sold some of their shares to cover their initial investment. Sorry you lost some skin, but it sounds like you missed the boat and you are quite bitter.
I have some friends and associates who chose not to listen to me and buy around 6 - 8 cents and they chased the stock when it went up and was over .10 and some in the teens. They are bitter now that their investment is down. Again they should have listened when the price was lower. I do think eventually if they do not sell, the stock will rebound and be between .20 to 1.00 within 2 years. Good time to buy now.
As for dilution, you should really study the stock issuance history like a few board members mentioned. I only did so this past weeks and will be digging in some more since I have 90% of my cannabis portfolio in KGKG. It will address some of your concerns. I think there is incentive there for key personnel to grow this company nicely in order to take advantage of what they were issued.
I really did not think this stock would go under .10 again. Kudos to tractor for calling it. I believe I know why it went down and I feel comfortable it will reach some nice highs soon (within 6 months).
I know there is payroll expense in 2019. But there was none in 2018 and earlier. They did have management fees of $70,855 in 2018 and $156,527 in 2017. The fees in 2017 seem excessive. There is no management fees in 2019. Who received those management fee payments in 2018 and 2017?
At 6/30/2019, there is a total of $124,086 of payroll expense. That number includes payroll taxes (federal, state and unemployment taxes).
Estimating wages per employee using the gross of $124,086 depends on how many employees are included (and remember the gross number includes payroll taxes so the wages per employee goes down).
5 employees averages to $24,817 per employee for 6 months.
3 employees averages to $41,362 per employee for 6 months.
I don't have a grip on who is included in payroll in 2019 (and again, there was none in 2018 or earlier).
At this point I was going to comment about stock issuance and key personnel being part of Quantum. Reviewing the Stock Issuance History, I am revising my thoughts a little bit on whether key personnel are included in Quantum. I don't know, lol.
RC has a generous history of issued shares. I am not done analyzing his positions.
Chad Webb (5,000,000 restricted shares) and Chris Selinger (10,000,000 restricted shares) not so much. It depends how long their shares are restricted. They really need the PPS to go up to make serious cash. I cannot imagine key sales people would be happy with the dilution; unless they get something from Quantum?
Anyhow, I am not done analyzing the financials, but I have just learned there is a whole lot more information there than I realized.
I have always thought RC and key management is part of Quantum. There has been no salaries on books for key personnel. They aren't working for free.
Is this a surprise to you? Where do you think this goes over the next few weeks?
Do you think key members of management are members of Quantum? There had been no salaries on the books for while there in the past.
The info seems meaningless.
This is all I can find:
Institutional Ownership and Shareholders
Kona Gold Solutions, Inc. (OTC:KGKG) has 1 institutional investors and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 10,000 shares. Largest shareholders include Dumont & Blake Investment Advisors Llc.
Kona Gold Solutions, Inc. (OTC:KGKG) ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. The Schedule 13D indicates that the investor holds (or held) more than 5% of the company and intends (or intended) to actively pursue a change in business strategy. Schedule 13G indicates a passive investment of over 5%.
We had profit last quarter and we will have profit every quarter going forward. We shall see soon enough. In any case, every run in the future will hit new highs and longs can determine then how much they want to cash out. My first target is .15, maybe .20. It will come within 3 months to a year.
I have never seen this company "pump". This recent PR is certainly good news and it will be reflected in future accounting filings.
A small company like KGKG doesn't really have internal auditors. What they should have is a system of internal controls to safeguard financial assets and capture/record all financial information so that information is reported in accordance with generally accepted accounting principles in the United States of America. Internal controls should minimize material misstatements and protect against violations of laws or governmental regulations that do not have a direct and material effect on the financial statements. Internal controls also should protect against fraudulent financial reporting, or misappropriation of assets.
Again, it is my belief that it did not make sense to have an audit and up-list fees in the past when the costs literally exceeded revenue. However, it did irk me that management would mention audits and up-listing as if it was in progress. Besides the money and expense, I do not think they were set up properly internally with prior staff to assist in the audit. The last PR about the hires is pretty explicit in regards to the 2017 audit and the up-listing. Though I fully expect the 2017 audit to be completed soon, I will not be surprised if the up-list does not occur until the 2018 audit is completed. That may not happen until 2020. Once the up-list occurs, annual audit fees will need to be completed more timely and the 2019 audit "would be right around the corner". Now you are looking at $60,000 to $100,000 of audit fees all within a year's time. Not cheap.
The audit fees are for an external CPA firm to do an audit and the cost will range form $20,000 to $40,000 for each year's audit. Her annual salary will NOT be increased for audit assistance. That is poart of her job. Her expertise is key to keeping the external audit costs down. I was not impressed with prior financial statements that were released as I could see an inexperienced person was simply "spitting" out the reports from QuickBooks. That should now change.
The other annual fee would of $12,000.00 that you mentioned (which I have not verified) is in addition to the external audit fees.
The whole process is not cheap. Besides the $2,500 and $12,000 fees you mention, there are up-list costs which include the audit fees which will run between $20,000 to $40,000 annually. Costs aside, I did expect the Company to be further ahead with the audit process based on prior PR's.