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Main problem with MJ stocks is all the momentum of legalization, like Elvis, has left the building. Sen. Schumer & Co. are nowhere to be seen, and Slow Joe Biden could care less. Eventually this will change, but not fast enough for those who want to get the party started.
I'm surprised none of the momentum has re-started for RTON after the yield sign was lifted and we were once again Pink Current on Friday. I guess its going to take a good 10K. Usually momentum builds up to a good 10K in advance; but with this malaise apparently its not the case. No one is just taking Jerry's word for it; .0030-32 seems to be the line in the sand.
If you believe the 10k is as good as The Faithful have been saying, get in now since it will be released sooner than the 15 day grace period.
Re-read my post. It means the SEC cut them some slack because they made an honest effort to file the extension but were slightly late.
I know you need this this stock to work out for you so you can pay off your student loans, but this isn't twitter so try to act like the rest of the grown-ups.
Hopefully they are looking for knowledgeable people. Perhaps we can get coach nick to stop by as a guest (insert laughter emoji).
My guess is RTON was expecting to release the 10-K at the wire but had a last minute problem with it, and thus were caught unprepared on the NT 10-K extension (shouldn't have happened). All water under the dam now.
If so, the 10-K is probably ready to be released sooner than later. I doubt they will take the full 15 day extension if they don't need to.
Nice- I guess the SEC can be forgiving when they feel a company is making the effort. Now lets roll forward with some good times.
Yeah, it reminds me of when Elon Musk said on social media he had a buyer for Tesla before the pandemic, but didn't. Remember that mess he got into? A lot of people have hung onto RTON because of the 1200% claim. We'll see soon enough. Maybe coach nick will straighten this out for us. lol.
Wait, are you saying the SEC will not accept the NT 10-K now? That seems a bit harsh. There should be another recourse for RTON. Better get that 10-K in double pronto.
Good, the yield sign should be down by Tuesday. The question I have is Jerry has up to 15 days to file the 10K, but he doesn't have to use them all. He may very well file the 10K on Tuesday, who knows? It makes it difficult for some to plan a trading strategy. Also, it would be nice if he apologized to the shareholders on his Social Media site.
Too bad about all those who sold at .0030 today for a 20% haircut, though. Yikes.
Exactly correct. He is one day late on the filing, and the SEC is cracking down on deadbeat companies now that the pandemic is winding down.
Its one thing not to have the 10k ready. But not to even care to file for a simple extension in a no-no.
Apparently Jerry is not on the SEC's timeline either, judging by the new restriction placed on the company. There is no good excuse for him not to file an extension.
Amateurs work this way- I expect more, and only amateurs condone it. Your cult-like response is not unexpected.
C'mon Jerry- file for the 2 week extension today. Get coach nick or your next door neighbor to help you.
I can't believe he would let the anticipation that built over the last few days get stalled out in front of a long 3 day holiday like this.
What surprises me is the slowdown in trading today. There is currently 9 million shares on the ask at .0038 and little spread in-between the bid, and yet trading has slowed to a crawl. How come the MM's can't match up trades. You would think there would be a lot of people crossing over to execute with the 10K coming out in just hours after the close?
This reminds me of the morning RTON went current. Everyone was jubilant, but the stock did nuthin' the first half of the day. The second half of the day it exploded big time. Looks like a repeat to me.
Why would the 10K factor into a week-long downturn starting from an already low price? Nah, its just a part of a general MJ slump. No one has been doing terrific in this sector lately.
A lot of selling; so who has been buying?
I've taken an educated risk here and bought a couple million shares.
As a contrarian, I like the current price and the hesitancy everyone has right now. Hopefully we won't have a 2 week delay on the yearly report, and if everything Jerry has been feeding us is correct, the long overdue big gap up will hit us hard.
My view on the management is still the same (wary), but I am not one to stand in the way of a freight train. Ride those coattails.
That last 15 minutes of trading showed the MM's not knowing which way to break the stock. There were many unrecorded bids and asks that went unfilled while the MM's were fumbling around.
Should be an interesting open tomorrow- look for some wild gaps and swings. Fun times for the nimble.
Christ- there is no liquidity. Everyone is forced to make small trades in order to accumulate/sell positions. Considering the magnitude of the news today- this is a joke.
A reverse split is most likely. The trick is to do it from a position of strength as sales/revenues are stable and secure.
Most little Pinkies do an R/S from weakness in order to stay afloat and survive. Those continue to just go down the drain.
So which is RTON? Lets see stable and rising sales figures first; there have not been any up to now- just chatter. Then we will know. In the meantime this stock is a Traders Toy- take advantage if you can keep up.
So now we are selling Bob Marley's mushrooms. Who would of thought. Evidently we will be re-involved with MJ on a number of levels in the near future; not just CBD.
Evidently the cDistro merger went thru as originally planned- very good news, it will bring a large amount of revenue into our coffers.
If you were planning on selling due to the current stagnation of the share price, you may want to wait.
Very cool news from MCOA to start the day.
MCOA Subsidiary cDistro Signs Distribution Agreement with Silo Wellness and Marley One Functional Mushrooms
LOS ANGELES, June 29, 2021 (GLOBE NEWSWIRE) -- Marijuana Company of America, Inc. (OTC: MCOA) ("the Company"), a diversified holding company with operations and investments throughout the cannabis industry, today announced that its new wholly owned subsidiary cDistro, has reached an agreement with Silo Wellness, Inc. (CSE: SILO) (OTC: SILFF) (FRA: 3K70) to distribute Marley One, the first global functional mushroom brand, in collaboration with the Bob Marley Family.
Silo Wellness, a leading global psychedelics company, chose cDistro as one of its first distributors to launch Marley One, the first global functional and psychedelic mushroom consumer brand.
Well Uby- I see your suspension mellowed you out a bit.
Yes, but unfortunately Biden remains a stumbling block since de-criminalizing past offenses goes square in the face of his prior sponsored 1994 legislation that was harsh with sentencing guidelines.
Slow Joe is a bit of a problem, and will attempt to delay anything from happening. Fortunately, he is in a separate branch of government. Legislation will happen anyway, but no thanks to him.
Its called sarcastic humor. Relax a bit, lighten up. Besides, would you put it past him?
Good way for Jerry to get rid of the expired products he is stuck with. Better ask what the expiration date is before you plunk down your money on anything.
Source please? And don't say "I never would have said it if I didn't believe it". That's not good enough.
Sounds like good advice. Everyone here should follow it.
And then there is blind speculation: "RTON is NEVER going to crash". Really?
Sorry to break this to you, but coach nick moneymaker is a paid flack. Honest; just read his posts.
Lets cut thru the fog. On which Quarterly report will I be able to observe the 1200% jump in on line sales that should translate into a large earnings boost. Lets speak plainly.
OK. I was thinking both the company and calendar year ended at the end of December. So we have until August 15 to find out what the real sales/earning figures are, and not just Jerry's tweets.
Question: 1st Quarter 2021 report normally is due Mid May. When will it come- this is the one that should start to see the actual pick-up in sales everyone has been hoping for. If true, it could be a good trade; maybe make up for the Going Current party.
So far, there doesn't appear to be much investor interest with Going Current.
Why should RTON skyrocket;" Pink Verified" is literally old news that everyone knew was coming and when. Everyone who follows the company already got into position for it, except the uninitiated newbies.
Will It spurt upward, just to be held back by positioned shareholders cashing in? It should be interesting to see how this dynamic plays out over the next 2 weeks. In the end, the fundamentals will win; its still a company run by flim-flam artists.
You are probably right. What concerns me is Jerry is a flim-flam man. You can be sure any background noise (expiring product dates, real inventory on hand, on-line delivery efficiencies, many etc's.) will be kept away from shareholder view as much as possible.
Have any of you seen his social media sites- pure one-sided drivel (Critical posters are banned to control the message to the newbies). I trust you are all familiar with the last company he was Chairman of the Board on? It collapsed big time, and the average shareholder did not see it coming there either.
There is a certain amount of trust that even a careful investor has to take on blind faith (even Warren Buffet was taken for a chump in a Chinese scam company during the Great Recession- LOL). Can you make money here- sure. But it will be easier to lose it IMO.
Werbe, you stated: "This is a rebuilding company, so I think it will be fair to judge $RTON by current numbers,..."
Always be careful what you ask for, it may come true.
The verifiable expenditures and earnings of the "current numbers" have not been verified (other than by random CEO tweets), and may very well undo the defense of mediocre actual performance we have seen up to date.
Hope for the best, but plan for the worst.
Well, the next quarterly report is out. Same as the last quarter, slightly worse. The momo day traders are chasing the MM's asking prices. When will people learn. See highlights below:
"For the period ended December 31, 2020, the Company had an accumulated deficit of approximately $14,563,000, had a net loss of approximately $902,000, and net cash used in operating activities of approximately $134,000, with approximately $23,000 revenue earned, and a lack of profitable operational history. These matters, among others, raise substantial doubt about the Company’s ability to continue as a going concern."
Wash, rinse, repeat. All of the seasoned traders on this board are remaining quiet on the reports, hoping the newbies will not read them and just continue to chase prices.
Question: When the music stops, who will be left without a chair.
Answer: Most people.
Nice to see MCOA office is now in downtown Los Angeles.
The stock has been dormant around .0063 for a week now. Looking for the unexpected upside action soon that MCOA is known for. What will be the catalyst? I wish it were the cDistro purchase.
But it will most likely be another quick MM created surge for traders who follow momentum plays until fundamentals can kick in. Look for sustainability the last quarter of the year. Then the games end and earnings take over.
It looks like the Dow is being scared into selling off lately due to inflation fears and the Fed talking about raising interest rates.
We are going to have rotational corrections into whatever sectors appear to have momentum going for them. There is simply too much money out there looking for a good home, and pure safety at +1% bank interest isn't gonna cut it for these folks. Everyone has gotten spoiled.
If we are lucky, Congress will get its act together and pass a series of MJ legislation just as the fed starts to raise the rate (by end of year). The MJ industry can clean up at everyone else's expense. As usual, timing is everything.
Untrue- the company has stated several months ago no more toxic funding; at that time they were just winding down the rest of it. Someone else direct The Sandman to the correct news release. They are selling shares thru dilution to public now in a controlled fashion as necessary for expansion.