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When is this hitting 0?
I bought in at about 1.60. I'm screwed.
The year is 2065 and Supreme Cannabis is looking to hit $1.25.
Summary
Supreme Cannabis (OTCQX:SPRWF) (TSE:FIRE) is a mid-sized Canadian cannabis company with good revenue growth and average margins. They focus on premium dry flower, although cannabis oils should launch later this month, and are building toward a 440,000 sq. ft. footprint with annual capacity of 50,000 kilograms/year.
While Supreme's results over the past several quarters have been reasonable and the company has traded in line with the sector, I'm not inclined to invest in Supreme. My approach is very data driven and Supreme has some of the worst disclosure in the sector. For example, Supreme doesn't disclose how much cannabis they grow, how much cannabis they sell, or their split between wholesale sales (to Tilray (NASDAQ:TLRY) and others) and recreational cannabis sales. Supreme also doesn't tell investors their costs per gram or their revenue per gram, does not have earnings calls with analyst questions, and does not provide forward guidance.
Despite solid growth, I will stay on the sidelines until Supreme improves their investor disclosures to industry-standard levels.
https://seekingalpha.com/article/4270860-supreme-cannabis-opaque
Yes, he does have something up his sleeve. It's called a con and he's pocketing all your money.
They have no product.
According to MarketWatch, a number of cannabis industry insiders have blamed premium pot grower Supreme Cannabis (NASDAQOTH:SPRWF) for the advent of the phrase "funded capacity." Said Supreme Cannabis CEO Nav Dhaliwal in a telephone interview with MarketWatch in November 2018, "Talking to analysts, investors, and bankers -- we said we're going to build out this capacity in terms of financing." But the CEO now believes that "funded capacity is too broadly accepted as a metric" and added: "It's relevant to a point; it's a foundational metric. But once you start scaling, it becomes less relevant."
https://www.fool.com/investing/2019/05/19/marijuana-companies-lied-to-you-major-pot-ceo-alle.aspx
This is a dumb question, but how does one actually buy their product? I was vacationing in Canada and was curious about it, but the shop didn't have anything for "Supreme Cannabis" or "7Acres". I saw Aurora Cannabis on some of the supplies.
I would have made more if I just stock my money under a mattress.
Bought 351 shares just now. Hopefully this doesn't stagnate and hopefully good news is coming. Any news on earnings? New grow rooms? Anything?
VANCOUVER, British Columbia, March 26, 2019 (GLOBE NEWSWIRE) -- New Age Brands Inc. (CSE:NF) (OTC:NWGFF) (FSE:ONF) (“New Age Brands” or the “Company”) announces that, pursuant to a director’s resolutions, the Company will be consolidating all of its issued and outstanding share capital on the basis of one (1) post- consolidation share for each forty-five (45) pre-consolidation common shares (the “Consolidation”). No fractional shares will be issued under the Consolidation and any fraction will be rounded to the nearest whole number.
As a result, the outstanding common shares of the Company will be reduced to approximately 7,731,238. The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon consolidation.
In connection with the Consolidation, the name of the Company will not change and the Company’s trading symbol will remain as “NF”.
The Company’s common shares are expected to begin trading on a consolidated basis and with a new CUSIP number on or about April 1, 2019.
NEW CUSIP: 64158L208
NEW ISIN: CA64158L2084
ABOUT New Age Brands
New Age Brands is an innovative Cannabidiol (“CBD”) lifestyle Company. Through the Company’s wholly owned subsidiaries We are Kured and Drink Fresh Water, the Company’s main business activities encompass the development, marketing and distribution of CBD products (including vaporizer pens and beverages) throughout the United States and internationally. In addition, New Age Brands has extensive retail and cultivation land investments in Oregon.
For further information about New Age Brands, please consult the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.NABrandsInc.com. For further information about We Are Kured, please visit their website at www.wearekured.com.
https://www.globenewswire.com/news-release/2019/03/26/1767743/0/en/New-Age-Brands-Announces-Share-Consolidation.html
Forever bag holding this garbage.
They can announce they beat everyone in sales and still only go up a penny.
Forever stuck in this stuck. Bought in at 1.71 like an idiot.
Hopefully when the US decriminalizes pot federally and dummies like myself think it's a cheap buy for easy money.
Enjoy a stock that can't move despite upgrading to the Toronto Exchange, less debt, and more revenue. The technicals all appear to be in the right place and it still doesn't budge.
Done with this terrible stock. Once this gets back to $1.72 (if ever), I'm out. What a joke.
Is it reasonable to assume the revenue report isn't going to be a good one? Shouldn't this be climbing if they expected tremendous results?
What is going on with this company?
Thoughts:
When the cannabis sector shake-out finally occurs in 2019, Supreme Cannabis probably won’t survive. The company may have the magical word “cannabis” in its title, but it has red ink on its balance sheet. Avoid the stock.
https://www.investingdaily.com/45668/our-supreme-cannabis-stock-prediction/
Just about every stock is in the red today. Was hoping to see green as we build towards the earnings report, but if everything is red then this doesn't concern me.
Hmm. Doesn't look like the news really negatively impacted the company. Back up to 1.65. Hope they have very good news about earnings on the 12th.
I bid in at 1.69. Stock miraculously gets to 1.72 and instead of pulling out I double down and invest more at 1.71. Am I just a masochist?
Classic pump and dump from a company that literally sells nothing.
I'm only down 90% on investment since the 1000:1 R/S.
Ah. What do they need to hit to get to the NYSE?
I thought the idea to R/S was to upgrade to the TSX. I wasn't sure if the plan was to still R/S or if they needed to R/S to get there?
If they're moving up to the Toronto stock exchange, do they still need to R/S?
Chart looks nice.
Is this accurate and/or worrisome?
https://www.nasdaq.com/symbol/sprwf/institutional-holdings
Institutional Ownership 00.04%
Total Shares Outstanding (millions) 290
Total Value of Holdings (millions) $0
No one in the company owns their own shares or could it be that this isn't accurately reported on this site?
I'm getting excited that I might finally break even at the $1.68 USD. Terrible entry point on my part as I bet on the market going on a run after legalization.
What's the deal with the R/S? Are they waiting till they get to see if they get to a point where a 5:1 makes them compliant and then split if they find themselves stagnant? What's the plan?
What CBD opportunity? Have they announced any plans, what so ever, in regards to CBD? They mentioned it's a market they'd like to get into. That's it.
It's a dead stock. The company sells nothing. They have no plans for CBD other than it's neat. They're merely attaching their name to CBD in hopes to fool people into buying stocks. Their Time Machine laser was a major flop. The share price is $0.035 after a 1000:1 reverse split. There's nothing positive and if you put your money into this, you might as well just go outside and burn it.
This stock will not get you rich and the company should be investigated.
Looks like we're stagnating. Hopefully something positive will push through to send this on a run.
I feel like this is a company that's trying to do enough to get bought out.
Care to explain? I see green on SPRWF as well to which sounds like it might be. Just wondering how it relates.
This is bad news, yes?
At this point I'm just bitter and leaving my money in until they break even with my investment (if ever).
Supreme Cannabis arrives too late
What could have been a solid investment, Supreme Cannabis (TSXV:FIRE) (OTCQX:SPRWF) might just be too late to the game. By 2019, the market is likely to be saturated. According to the Brightfield Group, today’s dispensaries are carrying over 150 different cannabis brands, nearly double the amount of commercial brands that were on shelves two years ago. With that kind of competition, Supreme’s recent endorsement by Wiz Khalifa could very well be just another brand of celebrity-endorsed marijuana that is forgotten about on dispensary store shelves.
[Liberty Health Sciences sends swift rebuttal of short seller with solid Q3 financials to back it up]
Even their recent $12 million supply agreement with Tilray could potentially flounder with the expiration of Tilray’s IPO in January.
The company itself is playing the game correctly; it is just their timing that is off. Supreme just hit the scene in the summer of 2017, completed their $100 million bought deal offering in October, and officially listed on TSX Venture Exchange on October 23. These moves gave the pot stock barely a year to catch up with the rest of the cannabis market’s top performers, meaning they are only now starting to touch the extraction industry, thanks to an agreement with MediPharm Labs.
With cannabis oils set to be a major part of cannabis’ global worth, it does not always pay to be late to the party. If investors are overlooking this pot stock now, Supreme’s potential to get lost in the white noise of public trading is too high come January.
https://www.potnetwork.com/news/these-three-pot-stocks-will-help-cannabis-stock-bubble-burst
So, as someone who bought in at 1.67, should I sell at the price of 1.10 and eat my losses or would it make more sense to simply see how the R/S plays out?
Some positive news, I think?
VANCOUVER, British Columbia, Dec. 03, 2018 (GLOBE NEWSWIRE) -- New Age Brands Inc. (CSE:NF) (OTC:NWGFF) (FSE:ONF) (“New Age Brands” or the “Company”) is pleased to announce that the Company has entered into a “Drop Ship” agreement with The Grown Depot with respect to their two fully owned subsidiaries, We Are Kured, LLC and Drink Fresh Water LLC. Under the terms of the agreement, The Grown Depot will sell the Company’s products through their website (www.TheGrownDepot.com) while the Company will facilitate the shipment of orders through their Denver, Colorado warehouse.
Benjamin Martch, New Age Brand’s Chief Marketing Officer and founder and Chief Executive Officer of Kured stated: “The Grown Depot has been nothing but impressive in our newly formed relationship. We are excited to see what comes out of this new sales strategy!”
About New Age Brands
New Age Brands is an agricultural services company offering unique turnkey growing infrastructure and services for licensed growers and processors of luxury marijuana crops at its agri-campuses in Washington State. In November 2012, the Washington State Liquor and Cannabis Board (“WSLCB”) passed Initiative 502 (“I-502”). I-502 authorized the WSLCB to regulate and tax recreational marijuana products for persons over twenty-one years of age and thereby created a new industry for the growing, processing and selling of Washington State-regulated recreational marijuana products. New Age Brands provides innovative solutions for growers and processors in this burgeoning industry.
About We Are Kured, LLC
Kured is a wholly owned subsidiary of New Age Brands, acquired in December 2017. Kured is building an innovative online CBD and lifestyle company. Kured has partnered with best in class hemp cultivators, edible manufacturers, cutting edge product formulators to develop, market and distribute multiple lines of CBD products including, but not limited to, CBD vaporizer pens, topicals, gel capsules and more. All of Kured’s products are 100% THC free and will be available for purchase internationally. THC, or tetrahydrocannabinol, is the primary active ingredient in cannabis.
For further information about New Age Brands, please consult the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.NABrandsInc.com. For further information about We Are Kured, please visit their website at www.wearekured.com.
https://globenewswire.com/news-release/2018/12/03/1660814/0/en/New-Age-Brands-Signs-Agreement-With-Innovative-Online-Retailer.html
What's happening to fractional shares?