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We have close to 13 million shares at the .0028 bid. It looks like we will have people chasing it now.
Volume momentum is to the upside. The monotonous t-trade volume appears to be from buyers(?) Look for a whale to break this to the upside and gap.
It looks like the moron is back with hundreds of small trades, all at 1000 shares @ .0028. Clogging up the normal trading patterns once again.
Just trade already and move on.
The greed of the MM's is predictable. It's a simple merchandising operation. MM's facilitate the direction of the market so they themselves can buy at the low price to replenish their inventory, then help manipulate the trading to the upside to sell their newly acquired shares at the higher price. Wash, rinse, repeat.
Often they try and mask their purchases and sales in real time by waiting till the market close to report them. But the bread crumb trail is always there for the public to follow. There are market specialists who do nothing but ride the coattails and piggyback the MM volume.
No doubt there are a lot of people who would love to see this fall to .0015 so they could buy in just before the 10K & 10Q announcements. Wishful thinking. There is no real catalyst in place (?) to make this happen over the next 3 trading days in front of the 10k.
The current PPS is very low considering the potential; why take the chance of being left behind a potential gap up which can happen without warning? Remember, only amateurs try to buy at the absolute bottom and sell at the absolute top. "Both bears and bulls make money; pigs get slaughtered".
"Everyone has a plan, till they get hit" - Mike Tyson
Really low volume today so far. I guess most everyone who is interested in taking a position before the 10K and 10Q is all in, or is not willing to budge much from their bid.
Jerry has inadvertently lined up all of his ducks in one row for next week. Should be interesting.
What is Aug 12? Jerry has stated that he will release the 1st Quarter 10Q by the end of this month.
"We look to release the June 30, 2021 10 Q before the end of month [July], and we are very please with the results of the June 30 10 Q. We are excited about the future of RTON."
We have more time on the 10K than this Thursday. Jerry said "by the week of July 26". So probably next Monday?
Man, it took me 2 days but my orders are all filled. There is some idiot out there with seemingly a few hundred different trades @ .0028- all of them at 1000 shares each clogging everything up.
Once we get past this moron, we can start to move up again
Today's price rise was heavily manipulated to the upside at key lull times on many small trades, especially end of day. Very unpredictable considering the huge fall in the markets as a whole. Lets see if there is any carry-through tomorrow.
Could be another choppy day for the nimble.
C'mon Nik. Nobody believes this 67 million share nonsense.
Jerry has come out publicly in the last few days and stated that:
"Right On Brands in the last several weeks has been overwhelmed by early sales traffic at our corporate location fueling new interest in License ownership"
"The store is increasing sales from week to week and seeing many return customers with an average ticket price just below $50. We are looking for a second location in the Dallas area and looking to close several license locations soon."
" Our order for Mexico was delivered to Mexico City and we are excited with all the possibilities."
"Our 10K will show much improvement over the previous quarter."
"We look to release the June 30, 2021 10 Q before the end of month, and we are very please with the results of the June 30 10 Q. We are excited about the future of RTON."
These are very strong comments with little to no wiggle room for dissapointment. I would (and am )making an educated bet that RTON will live up to these statements over the short term now.
Well, for those who are trying to build a position, Friday's sell-off debacle is a dream come true.
Excellent forward guidance on both the 10K and 10Q with an accurate issuance date for both. New press release for interesting products ready for market. All on the same day.
How often does that happen in the Pinkie World? What other buy signals do you want, dum-dums? Jerry is right, silly market. But it is brought on by his own doing. Perhaps he will release future filings on time.
The Chinese have a symbol for fear. Their symbol for opportunity is the same. The tragedies for the many are always the opportunities for a few. Thanks, everyone.
The stock is dropping as the penny flippers seek other trades till the end of the month, as well as the usual weak hands getting cold feet.
The MM's will take advantage of this and drive the price down a bit before picking up their cheap shares and then reversing course, trying to force everyone to chase after it. The MM's will then use their new inventory to sell to the masses at the higher prices.
Simple- do you get it now; its a merchandising operation. This game never seems to change.
The near term future is looking very bright for RTON.
"Right On Brands in the last several weeks has been overwhelmed by early sales traffic at our corporate location fueling new interest in License ownership" says Jerry Grisaffi, CEO of Right Onon Brands. "The store is increasing sales from week to week and seeing many return customers with an average ticket price just below $50. We are looking for a second location in the Dallas area and looking to close several license locations soon." Our order for Mexico was delivered to Mexico City and we are excited with all the possibilities.
Our 10K which was due to be is to be released this week and the last quarter is being delayed for several days by our auditors as they are short staffed with vacation. It will show much improvement over the previous quarter. We look to release the June 30, 2021 10 Q before the end of month, and we are very please with the results of the June 30 10 Q. We are excited about the future of RTON.
In addition- the stock market hates uncertainty. Now that all of the unknowns are taken out of the equation regarding when (and if) the filings will happen, we can just get on with the business at hand. Look for a PPS recovery back up to .0040's or so as 10K date approaches.
This is Jerry's own posting on Twitter.
$RTON - We have posted an 8k now telling that we are late filing the 10K. It is frustrating for me as for all shareholders. We use a third party PCOAB auditor, and a highly reputable one, but they are slammed at this time of year and vacation schedules get in the way. #RTON pic.twitter.com/Buba6J3b5s
— Right On Brands, Inc. ($RTON) (@RightOnBrands) July 15, 2021
Well, at least we now know that the 10K will be filed by July 26 according to the new 8K. I would get a new auditor if I was Jerry.
The good news is the first quarter 10Q is completed and will be filed on time.
It appears the short interest volume has increased over the last few days as Jerry has held off from issuing the 10K. This probably doesn't mean much(?)
Market Date Short Volume Total Volume(Mil) Short Ratio
2021-07-14 13,511,013 27.31 M 49.47 %
2021-07-13 8,384,725 20.90 M 40.11 %
2021-07-12 23,229,232 29.78 M 78.00 %
It appears the new MM is positioning himself to handle the perceived large increase in trading volume when Jerry releases the 10K. Which way will it go?
I thought we had till Friday to file. If I'm not mistaken, the SEC jumped the gun on the yield sign, and caught RTON (as well as everyone else) off-guard.
An interesting viewpoint on the Schumer MJ bill introduction:
https://stocktwits.com/markblanc/message/356208769
I've heard talk that a modified Grey Market exchange will accept all the bounced OTC stocks that don't get current. You will be able to trade them (thru brokerage firm?), but with greatly reduced liquidity. Remains to be seen?
Well, it looks like Schumer & Company finally introduced the "talking points" for discussion of what their MJ legalization proposal will be. Now Congress will continue to talk and modify things for the next 2 months or so and hopefully will be able to vote on something by the end of this year.
Individual states will be able to opt out of the federal law if they want even after it is passed. Look for the 10 or so conservative states to keep MJ illegal until their electorates pressure them to do otherwise.
I have been telling you people this for the last 6 months. Starting in September, none of the trading houses will be able to place a buy or a sell order on any OTC/Nasdaq/Big Board company that is not current.
The SEC is forcing everyone to comply with issuing all quarterly/yearly reports on time commencing in September.
Rton is Pink Current and has no problem. But that nonsense they pulled in the past will no longer be tolerated, nor should it.
I would imagine the SEC would contact RTON and begin to initiate their de-listing protocol. RTON would need to contact them immediately with a formal appeal by letter.
It's a company quiet period before the 10K release, that's all. Ceo's don't typically issue news during an extension, the 10K will do their talking.
Did they need the whole 15 days to get it ready; I dunno. At this point, why speculate- as long as they release it on time.
Sen. Schumer is finally releasing his discussion draft for MJ legalization on Wednesday. The ball will finally begin to roll.
https://www.marijuanamoment.net/schumer-to-unveil-federal-marijuana-legalization-bill-on-wednesday/
Just as everyone was surprised when Congress put the whole MJ issue on the backburner in early spring. Our politicians are full of surprises. Something will start to take hold once our first infrastructure package has passed.
https://mjbizdaily.com/coalition-pushes-for-federal-marijuana-legalization-as-irritation-with-biden-grows/
Sounds like a nice alternative to traditional sleep inducement. Jerry is making some good moves. If the earnings pan out on both the 10K (next week) and the First Quarter financial statement (due August 15), the PPS will be considerably higher.
Throw in the ever-elusive legalization, and dare I say some of us will get some real folding money out of this over the remaining 6 months of this year.
Looks like people are starting to chase after it in anticipation of the 10K release. The ask is at .0041.
I just went on their Kona Gold twitter site: It said:
"Kona Gold is a premium lifestyle brand specializing in hemp based energy drinks" Not one mention or posting of what is actually selling and making money for them.
Hmmm. Their messaging is a bit out of alignment.
If you look on this investor website's message board listings, KGKG is listed under cannabis.
Once again, they seem to have an identity crisis.
The current 10 million shares on the ask at .0035 is a big wall to climb. We could be in this trading range for a while?
There is nothing stopping Jerry from releasing the 10K at any time between now and the end of the 15 day extension (July 17). He doesn't have to wait till the last day, unless he really was far behind with the info.
Till then, everything is in Limbo.
Apparently they have transitioned from being an MJ company to a distributor of what sells for them.
Nothing wrong with that, but their public shareholder persona needs to be updated to reflect who they really are.
A company name change?
Welcome back. It's always best to keep a balanced approach- criticize a company's bad points and compliment its good. At the end of the day add it all up and see where things stand.
I dislike when all of the twitter True Believer types do their best to keep negative thoughts away; what do you base an investment on; just amateur group-think momentum?
Bagholders in the making.
One annoying thing I have noticed is that on the RTON website for ordering, all of the Humbly Hemp line products (CBD energy bars) are out of stock- all of them.
Yet all of the Endo line is available- what's up with that? I can't believe the sales are that one sided.
If all the real action has taken place after 3/31/21, then we will have to wait until mid August for the next quarter filing.
Not so long, but it doesn't take long for prices to drop with the Impatient.