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Nice info. I have a question for you. Remember a few months ago; everyone was talking about the 1200% increase in on-line sales that supposedly had taken place. When I asked in what filing would we be able to verify these results, you said the next 2021 10K (to come out in August).
Did I miss something, because overall sales actually dropped from the 2020 10K to the 2021 10K? What happened?
Good one. It appears our tag team has been working Stocktwits, etc. non-stop. Keep up God's work.
In the meantime, look for this slow twist in the wind to continue (?) with all things MJ for the near term. Will the MCOA 10Q provide anything new? Doesn't seem like much progress is being made, judging by the complete lack of marketing.
None of the posters have anything positive to say. The naysayers have complete run of things. Sounds like a nice opportunity for a contrarian like myself is shaping up. I sold 3-4 weeks ago at .0061, and I thought that was on the low side of things. If the upcoming 10Q is a snooze festival, it will break under 40.
I'll be ready to pounce.
A good opportunity for a few whales to scoop it all up at once with no fuss. Who would of thought today would be a low-volume event with a temporary impasse.
Proof that the stock market does not accommodate the majority of investors.
Over 20 million shares on the ask at .0027. Not to mention the huge .0030 ask this morning. Big walls to climb over.
Most likely traders who bought in the last 2 weeks at .0023-.0025 trying to sell at .0030.
Paul Cordell at RatPackStocks.com said that on a scale of 100, the RTON 10K was about a 51-60. He's been following this company for a while now.
There's improvement in the right direction, and the ducks are starting to line themselves up.
The MM's just want to make money by replenishing their inventory at low prices, and selling them at high prices. They facilitate this movement to their advantage to accomplish this. Its a merchandising operation.
Nothing personal, its just business. If they could make more money trying to send RTON pps to the moon right now, they would. But the fundamental logic is not there at the moment. As soon as RTON shows some steadiness in their sales/expansion (enter 10Q), look out above.
First thing I noticed this morning RTON tried to gap up to .0030; there were over 28 million shares on the ask at .0030.
That is all of you traders trying to get out. They will still be trying to get out, and may hold prices down till the 10Q release (?) We'll see.
The drop in PPS is based on the 10K itself which is clearly just a work in progress (but in the right direction).
The traders who got in the last few weeks were looking for a big payday to sell into upon the release of the 10K, but didn't get it. Thus the disappointment.
As I said a few days ago, its the 10Q which will validate the continued company progress/sales.
The wild card is Jerry's flair for marketing/showmanship. He always seems to have a surprise up his sleeve.
RTON used 2021 to retrench: cut un-essential products, completely revise their debt structure, and re-establish their product line.
Their focus is on increased sales thru physical store expansion/on-line sales of their popular products, but with an added welcome twist- limited partnerships to help expand the brand.
They still need to establish a dependable (in house) manufacturing source for their goodies, though. That one is still a bit of a mystery to me.
I see growth spurting from a tough year. If only we could see the MJ law passage.
So, here is the 2021 10K vs 2020 10K in a nutshell:
Fiscal Year Ended March 31, 2021 Compared to Fiscal Year Ended March 31, 2020
During the year ended March 31, 2021, we generated revenue of $77,960. Our cost of goods sold was $56,709, resulting in gross margin of $21,251. We incurred total operating expenses of $422,684, consisting of executive compensation of $72,000, general and administrative expenses of $193,620, legal and professional fees of $48,821, bad debt expense of $7,169, advertising and promotion costs of $3,567, asset impairment of $91,200 and depreciation and amortization of $6,307. In addition, we incurred interest expense of $80,253, amortization of debt discount of $313,246, default penalties of $64,717, financing costs of $132,349 a loss on the change in fair value of derivative liabilities of $4,253,946, a gain on the settlement of derivative liabilities of $3,474,572 and a loss on the settlement of a warrant dispute of $80,000. Our net loss for the year ended March 31, 2021 was $1,851,372.
By comparison, during the year ended March 31, 2020, we generated revenue of $328,580. Our cost of goods sold was $307,280, resulting in gross margin of $21,300. We incurred total operating expenses of $968,540, consisting of consulting fees of $162,435, executive compensation of $101,000, general and administrative expenses of $345,157, legal and professional fees of $195,855, bad debt expense of $21,362, advertising and promotion costs of $66,838, asset impairment of $69,113 and depreciation and amortization of $6,780. In addition, we incurred interest expense of $906,177, default penalties of $301,980, financing costs of $496,784, a loss on the change in fair value of derivative liabilities of $821,961, a net loss on extinguishment of debt of $1,447 and other income of $112. Our net loss for the year ended March 31, 2020 was $3,475,477.
Basically, the primary aspects of the operation all shrunk year-over-year: expenses, product sales, debt, and losses. This was primarily accomplished by issuing stock- we are up to about 5.9 B shares now.
Looking forward, our progress as a company has taken place between this April and July; after the 10K. Look for the sales/earning to pick up substantially on the 10Q to be issued in the next 2 weeks (?).
The demand is there, but no one wants to buy at .0028 if it can drop to .0024 instantly in the course of trading now.
C'mon Jerry.
Just take Jerry's latest info at face value. He said last Friday that the 10K would be released this week. He did not state the hour or the day. Everything else is just noise.
The SEC is not actively involved at this time. They are just waiting like we are.
Patience, grasshopper.
A good educated risk, as they say. I am already set with my shares; just waiting now.
You could be right, as a knee-jerk reaction to the 10K. Traders will be flocking to the few opportunities for quick money in MJ.
But the .01 (?) rise will be validated in the 10Q which will follow shortly, allowing a nice base to form.
MJ market has been falling for some time, lack of political news has facilitated MM's. Generally speaking, we will have to wait for congressional momentum to change focus from infrastructure.
Those bozos cannot chew gum and walk at the same time.
Read post #14330 carefully.
Well, we've built a large wall on both the bid and ask. Something has to give. I hope we don't waste the day chipping away.
Bring in the whales.
What made you change your mind?
The MM's will need to reverse their direction and start the buy back of the outstanding short interest. They will not defend their short positions against a freight train (what for?? they have already made their money). Now is a good time for them at this low PPS.
Good news- RTON products to expand into 3 more store locations; Austin, TX (smart move), Miami, FL (smart move), and another in Dallas, TX (they must be really selling product in the 1st store).
Even though the 10K is going to be late again till next week, it looks like a good time to accumulate stock.
When is the 10Q coming out; I don't think they are going to do it before the 10K? Normally it is due on Aug 15.
There were some big grabs at the end of the day by those who do not want to take the chance of being left behind.
It should be nice.
I would like to correct something I said. I meant "Short Volume", not "Short Interest". While the short interest is abnormally high (but not reported yet); its the short volume that is consistently over half the daily trades (most trades resulting in lower prices from the day-before close).
The short interest on RTON has been over half the shares traded every day for some time now. When the 10k and 10Q do come out, there will be a huge forced buyback of shares to cover, resulting in numerous repetitive 200 million share days just to get back to some sense of New Normalcy.
https://fintel.io/ss/us/rton
From Jerry on today's twitter post:
$RTON - As Promised..
— Right On Brands, Inc. ($RTON) (@RightOnBrands) July 28, 2021
Back Up and Ready For The Increase
“Nothing in the world is worth having or worth doing unless it means effort, pain, difficulty…
Theodore Roosevelt#FuelYourCalm #RTON #EndometrialCancer pic.twitter.com/8vcuVVoqHT
Oh yeah; just completely buried from view.
How could that Twitter screen shot have been posted at the time mentioned when the site was already taken down by then? It would have had to been temporarily put back up again just for that post.
I just went on the RTON site at Stocktwits, did not see the post anywhere. Is it still up, where?
It would be nice if one of RTON's social media handlers at least replied publicly through Stocktwits or something what is going on with the suspended Twitter account. Right now it seems like Jerry is up to his less-than-transparent old tricks.
You might want to re-phrase that last sentence, considering how we were bent over on the 10K release delay.
Does anyone know how RTON managed to get their twitter account suspended? Its unusual for a non-political Public Company to have this happen. I don't think Jerry would intentionally do this.
One thing that should be interesting next week is how they file the 10Q. Its already finished and ready to go. I imagine Jerry is going to milk the timing of it in relation to the 10K and public announcements for all it is worth. He's pretty good at the promotion end of things.
I'm not worried about them filing on time next week. Also, since the MM's seem to control this stock at will, they can wait till the very last second before playing their hand. I believe I was the one reminded people to have patience.
Oh well, you know what they say: Don't do as I do, do as I say.
Well, the repetitive small trades have stopped. Someone must be keeping a close eye on the social media.
The short interest in the last three trading days has been roughly a dead even match between the shorts and longs. No clear commitment as to which way sentiment is headed?
Market Date Short Volume Total Volume Short Volume Ratio
2021-07-22 15,176,882 SH 28,272,489 SH 53.68 %
2021-07-21 12,450,463 SH 25,180,204 SH 49.45 %
2021-07-20 11,267,370 SH 17,777,302 SH 63.38 %
At the current moment, there have been 7,353,413 sh traded in RTON today.
There is currently 3,367,240 sh sitting at the bid @.0029.
There is currently 1,062,605 sh sitting at the ask @.0030.
That's over 60% of todays volume potentially waiting to do something. Even with a relatively non-existant spread, trading is at a standpoint. How come the MM's will not make a market in this stock? I find it difficult to believe almost no one will switch over from .0029 to .0030 (or visa versa).
It seems to be in place just to help stabilize the erratic trading after the Friday debacle when Jerry did not submit the NT 10-K extension on time. Which it has done. Once the 10K is reported, look for this to vanish.
On the downside, its difficult to buy/sell/build a position at the moment.
Well, once again the 100's of small identical reported trades are flooding the day. It seems someone has been going out of their way to keep stability/lower volume in the PPS over the last 3 days leading up to the 10K. I would think normal T trades would simply be reported as lump figures after hours. What does anyone else make of this?
Slowly edging up on the hundreds of 1000 sh trades. Strange day.
Remember the day RTON became current and the stop sign was lifted? Everyone predicted Big Things but yet there was no response for the first half of the day. The MM's tried their hand at PPS stagnation/ shareholder frustration while they loaded up the entire morning. Only afterwards did things take off big time.
It wouldn't surprise me if they tried that again. Show a little patience and don't expect to get rich the first day the 10K comes out.
But by the time the 10Q is released a few days later? We'll see.
Nice steady buying with more conviction. We will continue to climb these obstacles till the naysayers/mm's realize its time to change allegiance. This freight train is starting to get up to speed.
All aboard! woo, woo.
Its obvious. Just re-read Werbe's post #14154. Within a matter of days we will start to get solid verification of this.
People are starting to take advantage of this gift (in this current MJ market )at rock bottom prices.