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so with nobody buying shares and nobody buying nearly enough product to sustain the "company" what happens next ? who is going to buy into this even if he does a reverse split? To be quite honest i had hope but man it really feels like this is doomed on all fronts UNLESS there is a change of ownership ... the DHS people have way more business acumen and connections in my opinion. In one of the filings they were seeking that relief to receive NNRX to "stabilize" it. One thing is clear it sure as sh!t isn't stable now...
i am, i check it... starting to feel like they could drag this out for YEARS which is probably their intention
to me it feels like NNRX are within their right to screw their new partners but way outside the bounds on the bad actor thing and non payment of monies lent by Sherratt...
i called it 7 months ago that contractors weren't being paid, the greenhouse was an unfinished construction site, and we were basically lied to about sales projections. almost ALL of their PR's last year were HEAVILY fluffed and inflated with grandiose promises they were no where's near capable of delivering. I've said it repeatedly he got in way above his head and weight class. Big failure
the ONLY sanctuary of judgement for NNRX i'd give Bishop the benefit of the doubt on with pulling out of The Plant financially which the court filings appear to spell out is that the state of California is a lawless hell hole and they saw it all imploding.... They even had to PR how they are working through the black market and criminal sales of cannabis. We all know it's there and probably taking at least half the sales of legit licensed producers. I mean either way here we're all screwed unless they somehow in the 11th hour hook up in a less lawless state and do it fast.
all that said no matter what new management however, whoever, or whenever may be our only chance short term. When a "company" doesn't trade a single share on multiple days then Houston we have a problem..
this stock has been kicked in the nuts and buried alive like the guys at the end of the movie Casino.
that is all
God bless and good luck ?
something i find interesting is since the legal troubles began all the massive volume games have ceased. Possible the uht oh we're being watched here scenario could have kicked in.
just an observation
i wonder if Bishop was arrogant and delusional enough and simply thought on the merger alone they'd sell 11 trillion shares and not have the crisis of going broke in 9 months ?
i feel like that could have happened IF this bad actor wasn't involved....
the who's when and how and why we'll never know but over the past 2 years there have been dozens and dozens of monster volume days... some near 1 billion shares in ONE DAY traded but no movement or 1 tick up then back down the next morning or even by the close....
you don't have to be a rocket surgeon to see that something fishy was going on there...
combine all the crap we've sat through and that's just one more reason i am praying the court hands this company over to normal people.
the only clue in the report i need is that we are 23 million dollars in debt
there is no plan to get us out of it
the company has all but stopped communicating with shareholders
today's volume was exactly ZERO
our price is the lowest tangible number they allow you to trade at
and the ask is coming up on 300 million
the public has spoken
7 years as CEO 23 million in debt
being sued fur securities fraud
we are screwed until Bishop leaves
i don't care what they claim to offer as far as the company mission statement on the OTC
this is a complete disaster , failure, joke, and horrendous display of abuse of public funds...
the thumb in our eye is that he has his feet up in a 1.2 million dollar home collecting a $200K salary for destroying everything he touches
for all of the aforementioned reality i really hope he gets sued, loses it all, and goes to prison
and there it is .... ZERO shares traded in an entire day...
Bishop , maybe just maybe it's time to pass the torch?
you cannot sell one share at one one thousandths of a cent
If this is what you call an Amazing Ride you might be full of sh*t
time to look into that Itallian Ice cart.... maybe a henna tattoo stand on the board walk...
I'd say try to get hired at Pet Smart but you'll probably pocket the extra money people add to their bill to help wounded or homeless dogs and cats
is it clear yet that a change in ownership is our only hope ?
i had hope , i no longer have hope
can't even sell and walk away...
where they disclose current events at the end...
x, y and z have resigned and the company is currently in "settlement" with them to resolve the issue. It should be resolved in May or June
funny wording for the gravity of the situation ... .A minus for creativity there
knee jerk answer is this buffoon got in way over his head
perhaps he WANTED to take on the world...promised us he was in the process of taking over the world, but when the rubber hit the road the wheels came off and the engine sputtered
other than that the bad actor thing is running in the background... in the court filings it's disclosed that during negotiations for The Plant acquisition that Bishop and Bazegian answer to Hicks when it comes to disbursing funds and how... he's the bad actor
i've stated here that someone was giving orders behind the scenes even way before i read that...
well our net losses have doubled in one year and we're over $23 million dollars in debt
anyone care to defend this POS now ?
how embarrassing it must be to present these numbers to the accountant and they have to type the average value per share at .0001 cemts
how it started :
NutraNomics
@NutranomicsInc
·
Apr 1, 2022
NutraNomics, Inc. (NNRX) the most traded stock on the OTC in the days following news of The Plant Acquisition closing
How it's Going
May 31, 2023
Volume : 3
sorry i used the word "banks" .... "lenders" those who "work around" the system and lend NNRX cash and fund their "deals" ... hell Bishop even PR'd about a new "lending partner" last year
when there's simply no more juice to squeeze out of the public this will collapse ... obviously the sales never were nearly enough. We were led to believe they would be. They are not and filings prove this
now i personally sit here and hope the racket is over and some how some way a new dawn happens for this "company" Time will tell... i personally feel like Bishop is out classed by the legal team shaking his cage and may fold like a cheap pair of slacks from Boscovs
that is correct, this stock is as dead as it gets.
the only hope we as bag holders have is that the court system awards ownership of Nutranomics Inc over to DHS Development to officially end this nightmare
otherwise close the lights and pack up the tent
unless that happens what we have seen this year is what we will see for the next 5 years. Nothing
this guy has been CEO since 2016 and has failed at everything he has attempted
it will collapse under it's own weight ... if they are not selling products at a level that can sustain the merger they will just borrow until the banks no longer lend. As evidenced by your post nobody is buying shares anymore so there will be no money to run this "business"
obligatory "don't hold your breath"
we have been screwed into oblivion here...
Bishop should be removed as soon as naturally or super naturally possible
update on the proceedings
June 8 the judge will rule on NNRX's request for change of venue ... right now it's set up in whatever 9th circuit or something in California. If their request is denied things will move fast.
brace for impact LOL
this whole thing is exhausting...
right now i'm in fear the Plant will be granted a clean divorce and we'll be left holding our puds with no recourse and no bid
The other side of the coin here is The Plant / NNRX are still actively pumping out Paradox and i assume that new Chew and Chill if we're taking the PR at face value....
i wonder what kind of numbers are going on the books next time around... still a company , still more than anything we've had since God knows when...
the PPS needs to be put on an IV of fluids and essential life sustaining nutrients though...
ANYTHING IS POSSIBLE
I always play both sides .... leaning toward one currently however
RE: salaries at The Plant
the woman, Mattie Cooper was willing to sacrifice her salary if John and Geoff agreed to hire an onsite manager...
i believe Sherratt Reicher too.
he did offer to buy out Hick's stake to eliminate the static
not 100% sure but i believe The Plant people were denied on both actions
the question is why ?
this is really hard to say... i don't think they were using it to pump the stock, i think they crunched the numbers and future projections ... it all looked fantastic , but when the rubber met the road they didn't want to get their hands dirty actually running the plant.
the black market stuff is real, could have been a huge road block
Bishop and Geoff are not "cannabis people" so artistically for lack of a better word probably had clashes with the actual cannabis people
i will say NNRX isn't a "fake company" after reading all the filings. LOTS went into the merger. It's exhausting reading the agreements, contracts etc... definitely high aptitude people which leads me to believe they squandered the funds or were punching way above their weight thinking it would be a layup running this company.
personally when issues got raised one of them should have taken a short lease on a rental out there and gone to work every day at the plant ... but that constitutes "getting your hands dirty"
so honestly that is my gut feeling.... they wanted to send emails , crunch numbers, but not show up to "work" which is why it failed
total disaster which is why i'm hoping for a change in ownership granted by the courts. The Plant people have way more connections and if they chose to drill down on the stock options i think future big mergers are possible. Yes i'm putting the cart in front of the horse. here. i have business intuition about the present and the past goings on but cannot predict the future.
hopefully a judge and or jury will realize that there is a 3rd party involved here and that's us the investing public.
hard to say how this all unfolds but Bishop and his strategy got us here. I don't think Bishop and his strategy are they way out.
2019 : We are rapidly expanding our Global Footprint
vs reality
2023 : Lawsuit for Securities Fraud
.00005
sometimes things explain themselves
100% agree here
for so so long he felt comfortable operating in darkness, taking the company off line, not filing for 6-9 months at a time...
crap or get off the pot time has come and gone
now the reality that people are FINALLY looking into this "company" is a good thing for us because it obviously can't get any worse.
so maybe now either he'll be forced to perform adequately and on time OR enough shenanigans will be discovered he'll have to walk away.
praying the status quo can not survive here... anything is possible but i feel like a major shift is coming
in case anyone hasn't noticed Bishop sucks at making us money
Bishop sucks at making the company money
BUT
he sure figured out how to make himself wealthy
i cannot wait until he is gone
so the Plant / Paradox is still functioning and pumping out product as of this week. Seeing posts on Instagram when a dispensary shows off new stuff they got... they tag Pass the Paradox and show the stocked units in their store..
so they haven't completely shuttered the place but we still need to know the financial nuts and bolts here as investors.
unfortunately it has come to a nasty lawsuit in order to be enlightened
they knew the greenhouse wasn't coming online anytime soon
that was more than a little "safe harbor" information adjustment
it was another blatant lie tacked on the board with Bishop's long list of historical lies
at least we have an actual timeline to find out EXACTLY where things stand now instead of being LEFT IN THE DARK by the CEO and associates
my chips ( Literally ) are on a receivership to be awarded to the Plaintiffs
like those big stacks of chips you see when someone plays one number on roulette
so my gut tells me the two are related... the bad actor could be pulling the strings...so can that be overcome ?
maybe he gave the order to stop paying bills , let it collapse ?
or the funds are/were being siphoned away for reasons other than running The Plant
by the looks of this NNRX has more explaining to do than The Plant and The Plant has about 4-5 lawyers to Bishop's 1
full court press
yes very odd, strange , and unprofessional
they'll have their day in court
this was bound to happen eventually...
they fooled people like us for so long
they probably got complacent and thought they could start fooling
bigger fish like the Reicher family
i don't believe this was all an accident or miscalculation
how do you work so long to establish a company then instantly sabotage it ?
makes no sense and finally the disinfectant known as sunlight
is being applied to NNRX
from what i read the bad actor in question here was the guy calling the shots and fronting the cash when he had been previously banned from doing business with public companies by FINRA. all alleged though ... i'll keep it legal and not state it as proven fact
i don't think there was anything afoul about him owning shares or investing but he was involved in the negotiations , and the L.O.I. and a little more involved in internal company financial moves than permitted
it's time for new leadership here...
anyone who thinks this will suddenly turn out good for any of us without a change of ownership is absolutely fooling themselves.
ask yourself HONESTLY what do we have to lose by rooting for a transfer here?
this was supposed to be the big year...either he failed or we were taken for a ride
either way he's got to go !
even if they win this court case ( which i doubt ) there will be a multitude to follow
read the court filings, form your opinion.
please don't comment on my input UNLESS you are up to date as in fluid information and court depositions
because NNRX isn't big enough for yahoo finance to spend time updating
if you're pecking around the internet looking for information on your investment if i may suggest start here... it will bring you way up to date and then some. More information than every PR, Newsletter, Filing and Tweet you've ever seen combined times ten
https://dockets.justia.com/docket/california/cacdce/2:2023cv03045/882221
scroll down to the "more information on Pacer" link
click it
open an account
and read yourself silly....
they do charge to read by page ten cents... docs over 30 pages max out at $3.00
why would people who failed at their job resign and then sue their employer ? does that make sense to you ?
wouldn't they be in a better position if they were fired then sued .... just some basic thinking skills are required here
you're being exposed for being brainwashed by Bishop hanging on to your fantasy that this was really over quotas and sales goals...
until you read and understand the public court filings i will not engage with you. It's your investment, be my guest to sit there like a potted plant cherry picking lies about quotas from Bishop's filings...it's waaaay more involved than that.
interesting your hero Bishop would declare in a Q report that the top 3 executives resigned from their positions over a "disagreement" and vague suggestions about milestones and sales quotas when the truth is they filed excessive charges against Bishop Hicks and Bazegian for malfeasance, securities fraud, breach of contracts, failures to pay loans and on and on
do yourself a favor and read the court filings. The sooner responsible people are in charge here the sooner we can stop arguing with each other and actually accumulate some wealth from the cannabis industry and beyond
you're rooting for more of what you've gained by supporting Bishop? Just curious if you've been paying attention to the lies he's told that have been exposed ad nauseam here on this board you read daily. He is an OTC scam artist with dirty partners behind the scene who set himself up to take a $200,000 a year paycheck plus bonuses so let's say a quarter million dollars while manipulating people like you and me into believing results are right around the corner.
i've used this analogy before and i'll use it again... if you owned season tickets to an NFL team and they go 0-16 for 7 years in a row why would you expect the leadership and management of that team would suddenly start delivering wins and championships on year 8 ?
Sometimes you have to realize you've been hoodwinked and call for a change in management. In this case we'd be gifted by the courts handing NNRX over to seasoned ethical people who could turn things around.
But if you enjoy misery by all means , hope we eat crow and Bishop keeps reigning over this disaster
possibly...but i'm not sure there are "criminal" charges filed anywhere yet. So far it's all over money and NNRX dropping the ball in regards to running the plant.
the scope and extent of it has "the plaintiffs" requesting exactly what you described though.
one thing i was not aware of is that Nutranomics by definition really does own the plant and are 100% responsible for maintaining and running it where as i thought they were the behind the scenes silent financial guys.. seems like they are not delivering on their end of the deal
bullet points for you... i've read the court filings in detail
Bishop is done... he/nnrx hasn't paid the rent, vendors, contractors , hasn't finished the greenhouse, and have abandoned the plant sans a "skeleton crew" i guess they are keeping a token few people there so they have SOMETHING to put in the filings... "hey we made two hundred bucks !!! " that's my guess and my guesses have been accurate here.
NNRX is being sued for malfeasance and will lose
NNRX is being charged with securities fraud and will lose
tons of money was lent to them by DHS and they never paid it back
they haven't paid payroll taxes ( they claim they can pay them later, end of year whatever )
DHS for short "the plant" wants a preliminary injunction and a restraining order ...asking the courts to give THEM control of NNRX ( for now ) which would save US the SHAREHOLDING PUBLIC along with them from further harm
NNRX will fight but i don't see how they prevail. When you are on the hook for this much money the lawyers know how to cut deals...
the thing that is the biggest let down is you can see the extent of work that went into the merger by the contracts, policy, detail, filings, parties involved. The amount of paperwork and legal procedures are nothing short of exhausting. Bishop obviously had the talent to get it done but where the money went is another story.
Strange how we all ended up here LOL
What an Amazing Ride to quote our CEO Jonathan Bishop
They say the darkest hour is right before the dawn.
If Bishop and co. are smoked out of the NNRX bunker by Sheratt Reicher , The McGrah family ,T win Creeks Development, LLC and MCG Investments and Holdings, LLC 's litany of world class attorneys and Mattie Cooper is awarded receivership of Nutranomics we MIGHT see a turnaround here. From what i've consumed these are ethical smart people. There is a reason all of this is happening... NNRX folded up shop and basically abandoned The Plant for what reason i don't know but it happened. ( my guess is there is shady business practice going on we will never know about )
For years Bishop seemed like the sly elusive fox when it came to information and being forced to deliver the goods to shareholders... now he can no longer talk sideways and give misleading information. We will see a resolution here and in my opinion unless he has an 11th hour miracle ace up his sleeve he's basically finished. They owe lots of money to lots of people. I don't see how they don't fold here but stranger things have happened.
The Plaintiffs and their lawyers are using language of urgency to prevent catastrophic implosion of their family's facility
since i've been spot on i'm just going to keep going on my predictions
first of all as we all now can see NNRX has only been in it for themselves using our money to make themselves rich. Withholding key details, not being forthcoming in PR's and OTC filings, highly inflating sales predictions , misleading people who were buying shares about massive rapid expansion with a 30,000 sq,ft. grow facility and simply not replying to requests for updates from us the shareholders... all of this is as good as fact by now
so seeing as they were only in it for themselves, i'm taking the same posture
i predict Sherratt's lawyers will bury this company and they will have no choice but to relinquish the controls to The Plant. Hopefully The Plant gets us some money back in the form of PPS and doesn't instantly pull the plug and go private. Please don't do that to us if things shake out in our favor
by the looks of the court filings we won't know much probably until mid June , unless a preliminary injunction takes place. I believe the first round of hearings are simply to determine the proper venue for the trial etc...
still interested if NNRX will make an attempt at damage control , i guess not since there's not much in the way of retail business happening and they definitely won't be speaking about a pending litigation and court case.
all i can add for today and probably for at least a month.