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I was asking if there was one, not stating there will be. The price spiked on volume, I was asking if there was news of a RM as possible reason.
All great questions Lumpy. Exactly my beef with PR's. The RM itself should have been a done deal at that point. As to Rich Thomas...I highly doubt he was an original SFIO shareholder. I think he came into this deal with Rubin. Or one or the other was the catalyst for the two of them going into business together. If I recall correctly, Universal Management has a common thread with IVS (International Ventures Society, I believe, but cannot recall exactly). I posted about that many months ago when my spider sense screamed scam.
Maybe Rubin is in the business of buying shells and making money through share selling via affiliates. Who knows. All I know is that credibility is lost, and like you, I will never go in for a THIRD round.
I believe Thomas is the majority shareholder since Rubin pulled out. And yes, the forward looking statements language protects them somewhat legally. My point is...this was presented, continually promoted as a merger that took place. The only forward looking part related to the closing of other acquisitions and filings to bring current. Nowhere in those statements do I recall reading "the PROPOSED merger is contingent upon...". Big difference IMO.
I am with Ed on this one. There should have been no PRs unless deal was done. None of the PRs stated the deal was pending and not closed.
I gotcha. I took a gamble, as others did, believing Rubin was in control. Perhaps my statement about zero respect was misplaced. Regardless, a lot of hype and no results.
Not at all what I expected. Zero respect for Rubin. Glad I lightened the load a few months ago, but still painful.
Yes, I noticed that too. He did tell me via a private message there should be an update soon, a month I believe he said. Everyone is justified in being highly skeptical. I am holding at this point.
Perhaps they have no new news to release. I wonder if their production, distribution and sales were negatively impacted due to Covid. Even the deals they were pursuing could have been sidelined or made more difficult. Imagine a scenario with pending acquisitions based on revenues that suddenly dry up. Are they still good acquisitions at a pre-pandemic value? Maybe, but now you might be renegotiating based on when both parties believe the economy will recover. This is all hypothetical. I am continuing to hold believing that no news (fluff for dump) is a good thing. Filings would push this much higher imo.
I believe they cannot be approved by FINRA for ticker change unless current. That is what all of us want to see, filings. If that doesn't happen, nothing else matters.
Which is why I hesitated to post anything. I knew I might get pounced on. But whatever. I don't deal in BS.
I hear you Lumpy. I had been up several thousand on this and should have sold and waited if I wanted back in. Instead I sold off more than half for much less. Now I am just going to hold and wait it out. Been holding for months...
All I have done is confirmed that I received a response to an inquiry. That response is that they are working through the complexities and anticipate an update. Does that mean it is the gospel truth? I am taking it at face value that it is. But who knows? We still know nothing more than we did before. If we believe what I was told, this thing still has a heartbeat.
Do your own diligence. I found a way to connect. You can too if you don't trust my post. For what it's worth, I would be skeptical too. In fact, I thought about saying nothing. But there are a couple long term SFIOers here that go back a decade, like myself. So I chose to post.
We will see. Could be a big bag of poo. Let's hope for the best.
Didn't use email. Found another option to get a message through. I don't want to post how out of respect for privacy. The method I used is a personal one, not company related. Probably why I got a response. Some may be skeptical, and that's ok. If you look at my posting history, you will know I am a straight shooter.
I got a response to an inquiry that they are still working on it.
I was convinced this thing was all but dead yesterday morning. I have done a 180...holding what I have. GLTA still in.
Lumpy, I think your gut may be right on this one. An update is still coming. It is taking longer than they anticipated to bring everything current. You had posted something along those lines a few weeks ago.
I am saying hot off the press response this morning. I didn't use email, sent a direct message through an alternate link I found.
So after I posted earlier, I dug further. I actually got a reply to an inquiry. Was told an update should be out in another month. Take that for what it's worth (not much). As to what the update may be...I didn't ask and wouldn't expect to be told details.
She is strawman for another group that pedaled shells, from what I could find. Posted about it months ago. Apparently they felt the need to "rebrand" themselves, which may be telling.
My hunch is Rubin may have been duped or there was a dispute with him and Igwealor. Could there have been 2 buyers of the same shell?
Any clue why this is happening? Reverse merger?
Crickets lol.
This sure looks like dead money. Crockets.
My post was a response to Dagahan.
Not unless they get their crap together. Like I said, no one aspires to live in the slums. I am very skeptical at this point. A two or three day run on mediocre volume and no filings doesn't get me too excited.
KDCE was suspended and banished to the gray market. Effectively dead. We definitely want no part of that.
Stock Audit linked directly to a SEC filing. I hadn't seen that, only the purchase document signed by Corionne Washington. That doc was suspect, but this filing makes me think there was something to it. Yes, I know the posts you are referencing. Big red flags.
I think there is a possibility that Rubin was an unwitting patsy in this CBDZ thing. But again, who knows? I sure hope they are not tied together as we know what happened to KDCE.
Speaking of 10,000 pound gorillas, this is still hanging out there, IMO. Who has control? Is there a control fight/legal issue? Is there an SEC issue given KDCE's Igwealor fiasco? So many questions.
stockaudit Sunday, 10/27/19 02:10:15 AM
Re: None 0
Post #
72080
of 74263
Cannabinoid Biosciences aquiring Betta4U Brands 's SFIO venture.
According to SEC filings CBDZ has acquired controlling interest in Smokefree Innotec (SFIO) on Sept 6 2019.
https://www.sec.gov/Archives/edgar/data/1760319/000176031919000019/form1-u.htm
Cannabinoid Biosciences has a $50 mil IPO listed with Nasdaq and is currently controlling KDCE as an OTBB ticker.Controlling shares of KDCE were purchased Oct 21 2019 as filed with Sec.
https://www.nasdaq.com/market-activity/ipos/overview?dealId=1071426-88546
https://www.otcmarkets.com/filing/html?id=13699895&guid=P0gSUaoGobxro3h
As per news release of Sept 25 ,SFIO announces merger with Betta4U Brands Inc.
https://www.businesswire.com/news/home/20190925005087/en/
Recent filings and news reports indicate a deal has been done where CBDZ has added Betta4U Brands to its portfolio to market CBD infused water using Neo Water among others.
Betta4U Brands Inc recently acquired Neo Water and is now moving forward quickly with exciting new lines of flavored waters including a CBD infused line.
Since 2011, the brand has seen consistent growth and is carried in over 2,500 locations nationwide.The Neo Water company posted over $10 million in revenues at the time of its acquisition.The acquisition leads Betta4U's target of $100 million in annualized revenues from a growing and expanding portfolio of beverage companies to be acquired over the next 24 months.
https://www.prnewswire.com/news-releases/smokefree-innotec-incsfio-provides-shareholder-update-300945118.html
CBDZ is also seeking control interest in the discovery, development, and commercialization of novel drugs using different cannabis products —proprietary cannabinoid, cannabidiol, endocannabinoids, phytocannabinoids, and synthetic cannabinoid products. Its operating strategy is research and development pipeline acquisitions.
https://markets.businessinsider.com/news/stocks/cannabinoid-biosciences-cbdz-set-to-launch-its-crowdfunding-campaign-to-raise-50-million-on-august-12-2019-1028365335
Short answer: no.
Not to mention increased alcoholic beverage sales.
Originally, I was a skeptic of this whole deal with Universal Management springing up out of nowhere. It had (maybe has) red flags all over. Then I was encouraged with research on Rubin, that this might have real substance behind it. Now I am back to extremely skeptical. I had owned 6,000,000 shares at one point. Sold down to less than 1/2 that, but sure wish I had taken profits when I had the chance. At this point, I will hold what I have and hope for the best. Everything is a doomsday scenario right now anyway. Why not this too.
It's a zip code changer. That's my favorite pump line. I never aspired to relocate to the slums.
I hear what you're saying Lumpy. In Bernard's case, SFIO should have little to no activity over the last 8 years after it went defunct. So shouldn't be much to review there. NEO Water would be the most complex piece, in my opinion, given they appear to be an operating company with real revenues. I say 'appear' though, because until there are actual disclosures, no way to objectively measure that. As to any other acquisitions that may have taken place, who knows. In my company's case, we have 2 large companies, a subsidiary, multiple partnerships, millions in revenues, many millions in assets. Yes, we have the same auditors from year to year, but there are thousands of transactions and a lot of complexity. My only point was that it shouldn't take months to spin out financials. Assuming Rubin has the resources, mountains can be moved when necessary. So what's the holdup? That question makes me very nervous.
Filings, filings, filings. In my opinion, the pandemic is no excuse for failure to bring this current. The company I work for just went through our annual audit, as scheduled. Completed in a week, the normal time frame, and the work was performed remotely. There just isn't any excuse.
NY is the place to watch. Cuomo has his poop in a group, so that helps. But it will get much worse everywhere before this is better. Stay safe everyone.
I think you're right Lumpy. Any expectation of filings and significant news is unrealistic in this environment.
Lumpy, unfortunately you will probably be right again. I have done enough homework on this virus due to underlying health conditions, to be more than a bit concerned. I don't want it, nor do I want to see anyone contract this.
Yes, I am afraid you're right Lumpy. I see the possibility of a depression. My heart is breaking for all the people who are going to be without basic necessities. Our social safety nets are woefully inadequate for a crisis of this magnitude. Be safe and stay healthy everyone.