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As I pointed out once before it is generally good guidance to convert preferred shares to common prior to R/M to completely value the company. Guess we'll wait and see.
For people with very good brokers and software it was in their news feed. I saw it.
Exactly. I'm fully expecting another S1/A. Obvious typo.
Amended S-1/A is out. Cannot easily see what has changed thus far.
Wrong, wrong, wrong. In order to even get an Infarmed inspection you MUST have plants in the ground, and operational facilities, to prove your quality control systems and operational status. You have 0 proof that they have not produced one leaf.
Lol. Sure he is. That's why he's letting Eagle and GW convert 25m each which will reduce the notes as per the S1.
I guess we'll know the effective date when OTCM is updated with the share count. I only see, so far, .0073 but that is being used to calculate the fees associated with the transaction. Still reading. Yes. We need news of a plan from Aitan.
Yes. I forgot the 65% discount so no it would not pay off the GW note but it would pay 35% of it.
What I really wonder about is why if Eagle who has taken small amounts of shares in the past, 1m to 2m, why accept a greater number of them now. There is just no way Eagle sells even 25 million as the price drops. Not going to happen. But I can see them being able to sell them on the way up. Couple million here. Couple million there, to the top and then sell the rest off.
"On December 5, 2019, the Company received its first purchase order for 125,000 oral patches employing the Technology, which was filled in the second quarter of 2020. The Company has subsequently received and is negotiating additional orders for the oral patches. The full commercialization of the Technology is expected to require an investment of up to $1,500,000 and up to one year to finalize."
Correct me if I'm wrong but wouldn't 25m shares to GW literally wipe out that note? The balance is $155,125 / .0065 = 23,865,384 shares.
Lol. Hmmmmmmmm. Seems Aitan built himself a backdoor to be able to cash it out. Seems they can settle the note for cash if they do an R/M and are not the surviving entity.
"This Note may not be prepaid after the 180 th day. Such redemption must be closed and funded within 3 days of giving notice of redemption of the right to redeem shall be null and void.
--Except
(d) Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of related transactions, (ii) a reclassification, capital reorganization (excluding an increase in authorized capital) or other change or exchange of outstanding shares of the Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the Company with or into another person or entity in which the Company is not the surviving entity (other than a merger which is effected solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred to as a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash for 150% of the principal amount, plus accrued but unpaid interest through the date of redemption, or at the election of the Holder, such Holder may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into shares of Common Stock immediately prior to such Sale Event at the Conversion Price.
See how easy that was?
I'd like to thank you for bringing this to our attention. Need to ask myself. Why would GCAN include this clause? Hmmmmmm. Lol.
1 More reason to merge with Symtomax.
It was in May. May 6-7. Any more misinformation? Lol.
Wrong. It can be said that EMET sees no future in a lower share price with no way to sell the shares so they settled the debt for 3m shares and $70K. Do you have ANY proof whatsoever that EMET actually sold the 3m shares or is it also a possibility they are now holding them for much, much more.
I'm only speculating about an R/M but no company pumps a stock up before an R/M. In fact the company with the most assets who assumes control wants it as low as possible and communicates that to the other company.
Which shares? Who says any shares will hit the market... down here?
Agreed with most but...
Sometimes A/S increases are needed. Why 2b? Why not 1b. All debt could be paid in shares with 1b increased A/S.
What's not being told by the purveyors of doom is:
EMET was settled for $70K and 3m shares. Poof, gone.
O/S = 88,349,536
A shares, Wayne, TD = 470,599,900
Total = 558,949,436?
If they settle GW and Eagle in shares today there's no way it costs them 1.4 billion shares. Closer to the 150m to 200m for a 700m to 800m total O/S.
What they are also not telling you is a company does not apply for barcodes for their products and print them on packaging unless they are going retail.
https://barcodesdatabase.org/barcode/0745125100890
https://barcodesdatabase.org/barcode/0745125100883
Symtomax isn't just a field out in Portugal somewhere. They are much bigger with Olaf in charge. Follow the bread crumbs but pay attention to 2connect.
"With over two decades of experience, 2Connect offers you complete one-stop solutions to produce your products, maintain quality control, provide sourcing and logistical services for all the special products in the market." The CEO? Olaf.
Every company listed here is connected in some way or another and there are many more.
https://shop.greenhousefeeding.com/us/
https://www.2connect-consultancy.com/
https://greenhousebrands.com/
https://us.strainhunters.com/
https://www.greenhouse.org/
http://ghmedical.com/
https://strainhuntersfoundation.com/
http://www.greenhousedrc.com/
https://ghmgeneticdevelopment.com/
So. Why 2b if all they needed was 1b? When real companies do an R/M they want clean companies with no debt. They want all preferred shares converted to value the company correctly as an R/M is based on common shares. At 1b A/S they do not have enough in the A/S to effect a R/M. We both know they haven't a chance in hell of selling 1.9b shares on the market. They eliminated roughly 500K debt already. 1 down 2 to go for a clean company. A/S raised to a level to where they can R/M is they choose to. Need to focus on all the pictures not just one slide.
If it does occur Symtomax will bring the revenue and assets to the table. I'm pretty much guessing the R/M you speak of, the private company probably brought nothing to the table to immediately increase the value of the company? IMO that won't be the case here.
I've also been here a long time and I see GCAN and Symtomax gearing up for a R/M.
Convertibility
In a buyout, the purchaser is buying all of the common shares of stock for a price it believes to be the fair value of the company as a whole. In order to have a proper valuation of each share, it is important for the buyer to know that all of the common shares are accounted for. Many preferred shares carry convertibility options, where they can trigger a conversion from preferred into common stock. This conversion would dilute the pool of common stock and throw off the valuation of the shares in the buyout. As a result, it would generally be advisable either to value the company as if these shares were converted, or to force their conversion before the buyout.
What Happens to a Preferred Stock in a Buyout?
https://smallbusiness.chron.com/happens-preferred-stock-buyout-68487.html
-- So in order for GCAN to convert the preferred shares they needed to increase the A/S.
2. Capital Structure Issues
The first issue one might encounter is that the Public Shell might not have enough authorized shares of common stock to enable it to issue 80%-85% of common shares to the shareholders of the Private Company. For instance, the Public Shell might already have 50% of its authorized common shares issued to its current shareholders. There are several possible solutions to this problem:
a) Increase of Number of Authorized Common Shares or Reverse Stock Split Pre-Closing
The easiest ways to enable Public Shells to issue enough common shares to the shareholders of the Private Company to accomplish the reverse shell merger are: (i) the increase in the number of its authorized common shares; or (ii) a reverse stock split before the merger is consummated. Pursuant to Section 242 of the Delaware General Corporation Law (“DGCL”),[3] each of these alternatives requires an amendment to the certificate of incorporation (CoI) of the Public Shell. Pursuant to the same provision, shareholder approval is necessary to amend the CoI. Whether such shareholder approval can be obtained by written consent of the majority shareholder(s) depends on the applicable corporate statute and the Public Shell’s by-laws. For instance, under DGCL 228, majority shareholder consent is possible unless the by-laws state otherwise; under Section 615 of the New York Business Corporation Law, generally unanimous shareholder consent is required, unless the CoI provides otherwise. Depending on the outcome of the analysis of the applicable corporate law, the CoI, and the by-laws, a shareholders’ meeting might be required prior to closing. However, both a shareholders’ meeting and a majority shareholder written consent will trigger time consuming procedures mandated by federal securities laws as set forth in Section III.1., which will delay a closing substantially.
--So in order to have enough shares for the public company to affect a reverse merger they need enough shares in the Authorized to allow such a merger. Thus GCAN raised the A/S enough to do so.
There is another option also in the same article above. The company does a R/S pre-merger. This option doesn't make sense as GCANS O/S is only 68m. Doing an R/S pre-merger would make the stock illiquid. Second you still have to handle the preferred stock in this scenario. Third they wouldn't have raised the A/S to do so. They could have done an R/S without affecting the current A/S.
https://www.clm.com/publication.cfm?ID=24
Supy gave you the nuts and bolts but lots more. Symtomax much bigger than people think with Olaf as the CEO.
Research Olaf van Tulder.
Mr. Olaf van Tulder is Independent Director of the Company. He is the CEO of GHSC Trading BV, a world-renowned, cannabis-focused Dutch conglomerate. Olaf has over 25 years of experience in the global cannabis industry and has built an expertise developing and launching premier cannabis brands, including Green House Feeding, an award winning plant nutrient company that is specifically designed for cannabis cultivation. In addition to Mr. van Tulder’s contributions to the cannabis industry, he serves as CEO of 2Connect Consultancy, a leading supply-chain management consulting firm.
https://shop.greenhousefeeding.com/us/
https://www.2connect-consultancy.com/
http://www.2connect-consultancy.com/bwg_gallery/china-regallery/
https://greenhousebrands.com/
https://us.strainhunters.com/
https://www.greenhouse.org/
http://ghmedical.com/
https://strainhuntersfoundation.com/
http://www.greenhousedrc.com/
https://ghmgeneticdevelopment.com/
and a lot, lot more. Just open them up and follow the breadcrumbs to see how they all connect together.
Why would they need to R/S after reverse merging with a company building out the largest grow operation in Europe? Potentially worth billions in the years to come in revenue and assets? After converting the the A's, the debt and the current O/S what are we talking? Maybe 700m - 800m shares? Sell away. I'll ride it out and add the dips. There must be a plan. They cannot possibly sell 450m shares much less 2b. A 1b market cap with Symtomax puts this over $1 and makes GCAN preferred A holders... filthy rich.
I think you are looking at this the wrong way. There is no way they could sell 450m shares. There aren't enough buyers as it is. If they were going to dump they had 430m in the O/S to do just that.
They didn't need to raise to dilute. The O/S was 68m and the A/S was 500m. No need to raise to dilute they had plenty available if that was the case. And just who exactly is going to buy them as the price plummets when they do? Makes no sense. IMO the preferred will be converted and all debt will be paid in anticipation of an upcoming event. Only reason to raise the A/S that high and the only way they can profit from converting the prefered shares.
Nothing seems to make any sense.
After 600m O/S the A shares can be converted per the 14. To what extent? Given the share price if they converted do they honestly think they could sell them? That just doesn't make any sense. That's 450m+ shares.
Have they cut deals to convert the A's and pay off the rest of the convertible debt in shares immediately making them debt free with a revenue stream?
Are they planning to convert their A's because an event is about to transpire where they could actually sell them much higher? I just can't see them being able to sell 450m shares unless the price was moving up, not down.
Right now there are literally no buyers and with a 10k bid and no one can sell. How on earth could they convert and sell?
Up seems down and down seems up here. There has to be more to this story considering someone actually did load up on the ask earlier. Was that literally just bad timing?
I think you must have been reading wrong. I don't believe GCAN was ever compared to Aurora. Me thinks it was Symtomax who was compared to ACB, TLRY etc. With the largest grow operation in Europe why not? GCAN will ride the coat tails of Symtomax to greatness. Symtomax will then buy GCAN as soon as they start banking the big bucks from their MJ fields. The big bucks will be made when THC MJ is applied to the Eluting Patch. Really? Softly falls the price? Seems whenever it gets to .013 there's an awful lot of people there holding it up, then pushing it back up to .018. That's the range and it's been there nearly a month. Price isn't "softly falling". It's called churning. If it was going to fall back down it would have done so already.
Flip-Flop. Flip-Flop. Almost sounds like the WHO or the CDC who no one trusts anymore. Lol.
Hmmm. Lets see. They just reported they completed the order on 6/8/2020. So in a normal business sale there are usually terms like Net 30 after the product has been delivered. So to answer your question... soon! Lol.
Been close to a month since it's high around .02. Hasn't "dipped" yet. Looks like your crystal ball is broken and I here a skipping record in the background. Tic-Toc. Lol.
Second barcode available. Now both products have barcodes. I fully expect to see more as more flavors, sizes, mg's are added. This means 1 thing. OralTabs will be hitting retail stores very soon.
30 pack
EAN13 - 0745125100883
UPC - 745125100883
https://barcodesdatabase.org/barcode/0745125100890
5 pack
EAN13 - 0745125100890
UPC - 745125100890
https://barcodesdatabase.org/barcode/0745125100883
The Greater Cannabis Company Completes International Shipment of 125,000 Oral CBD Patches
BALTIMORE, MD, June 08, 2020 (GLOBE NEWSWIRE) -- Greater Cannabis Company Inc(GCAN) , an innovator in the development and commercialization of cannabinoid delivery systems and cannabinoids products, is pleased to announce that it has completed the development, manufacturing and shipment of the first order of 125,000 units of the oral CBD patch. The oral patch is a novel cannabinoid product that has been shown in clinical studies to be a safe and effective way to deliver lower doses of pharmaceutical actives, while achieving higher levels of bioavailability.
The shipment was sent to Greater Cannabis’ commercialization partner, Symtomax. The product contains 21mg of full spectrum CBD in each oral patch and is available in 5 and 30 pack boxes in berry mint flavor with additional packet sizes, formulations and flavors planned for later on in the year. Symtomax has sourced numerous retail outlets and pharmacies for the distribution of the product, and is in further discussions with major distributors in a number of European countries such as the UK, Germany, Gibraltar and Portugal, as well as South Africa and Brazil.
Aitan Zacharin, CEO of Greater Cannabis(GCAN), said in a statement to shareholders, “I am pleased to announce our achievement of this pivotal milestone. The successful export and receipt of our cannabinoid products by our international partner is an important indicator that there is a stable and significant market opportunity in the European markets for Greater Cannabis’ products. We look forward to expanding global distribution of our products through our existing partnerships and others we are currently exploring”.
About Symtomax
Symtomax is a fast-growing company dedicated to the production, research, cultivation, processing and distribution of medicinal cannabis oil to pharmaceutical companies worldwide, whilst adhering to international GMP standards. Symtomax is also in the process of developing the largest medical cannabis cultivation site in Europe, having received initial approval from Infarmed, the Portuguese Government agency accountable to the Health Ministry. Based in the Alentejo region of Portugal, the production and cultivation site will provide 95 hectares of rich, fertile soil, which is perfectly suited for harvesting outdoor high quality cannabis flower for their products.
About The Greater Cannabis Company(GCAN)
The Greater Cannabis Company(GCAN) is a biopharmaceutical company focused on the development and commercialization of innovative cannabinoid delivery systems. Greater Cannabis(GCAN) deploys its technology platform for use in the cannabis industry. The Company’s conveyance platform can be utilized to deliver cannabinoids without the harmful side effects found with other routes of cannabinoid administration. The technology is versatile in that patients can now receive lower dosing, enhanced bioavailability, and controlled rapid and delayed release using a fully dissolvable, non-irritant oral eluting patch. Greater Cannabis’ mission is to bring our technology to the global market through partnerships with leading cannabis and pharmaceutical companies, for the benefit of patients and consumers. More information on the Greater Cannabis Company(GCAN) and its technology can be found on the Company’s website, www.gcanrx.com.
Sure ya didn't. Lol. I wouldn't wast a second going back to read any of your worthless posts. What tweet is that? I fact check everything. There was no tweet. Edit - looked again. Cannot find a tweet. Whose tweet? GCAN? Symtomax?
Yet the share price hasn't dropped to .004 as predicted. I have a spare crystal ball to replace that cracked one of yours but I want 1m GCAN shares for it. LMFAO.
Lol. Why on earth would anyone do that? Still waiting for the earth to crumble, by tomorrow, to .004, because GCAN hasn't put out a PR with a second order. We've heard that one how many times this week?
GCAN 60 minute looks really ripe for a move. Just hit upper PSAR, PPS sitting top of BB, 20ma riding up with 50ma, with PPS sitting above. IMHO next move up soon. Dude\Dudette. Get off the ask with those shares.
Lol. Who said so... you... or Symtomax?
Interesting. New landing page. Anyone see this yet?
https://symtomaxcbd.com/
Here's a website selling the OralTab. Looks like they are branching out.
https://theorganiccube.com/product/oral-tabs-21mg-cbd-30ct/
Interesting. Why would Symtomax apply for and receive an international bar code? Only reason would be to sell to retail chains. Not needed if just selling on a website or other websites.
https://barcodesdatabase.org/barcode/0745125100883
Interesting. Here's yet another Symtomax website selling the OralTab
http://cbdoraltabs.com/shop/
Who does all this benefit. $GCAN.
Lol. Maybe true but of course you left out Symtomax is building largest grow and processing operation in the EU and the bond is asset backed because of that. You left out Symtomax may harvest first crop in September with buyers already lined up increasing their cash position. You left out that if they did buy GCAN, an OTCQB company, that would enable them to get traditional financing through the capital markets. There's a lot more you seem to have left out but that's for another day.
The Greater Cannabis Company Inc. Announces a Material Reduction in Corporate Debt
GLOBENEWSWIRE 9:41 AM ET 6/2/2020
BALTIMORE, MD, June 02, 2020 (GLOBE NEWSWIRE) -- - The Greater Cannabis Company, Inc.(GCAN) (the “Company") is pleased to announce that it has eliminated more than US$700,000 of principal and interest owed to Emet Capital Partners LLC ("Emet"), as the full outstanding indebtedness held by Emet has now been entirely cancelled.
"The Company inherited these convertible notes from Emet when it initially merged into the public vehicle and we have been working hard over the last two years to clean up this debt. It started with a number of negotiations that resulted in reducing toxic features of the debt. I am proud to announce that we have now taken the final step in completely eliminating this debt.” said Aitan Zacharin, Chief Executive of Greater Cannabis(GCAN). “Our goal is continued debt reduction while focusing on revenue generating commercial applications for our innovative cannabis technologies,” added Mr. Zacharin. “Reducing this large convertible debt overhang was an important step in improving our financial performance, which, in turn, will lead to greater shareholder value,” he concluded.
The Company plans to provide more detail on revenue generating business advancements and strategic direction in forthcoming shareholder communications
Lol. Name another company that has. Yep. That's what i thought.
Would "anyone" here, like to comment, on EMET's derivative liability being $1m+ or can we put that to bed? Would "someone" like to maybe change the sticky above that claims EMET's share count given is 192m? The sticky should be removed, it is incorrect, false and misleading to investors.
Seems we don't need EMET to destroy the share price. Greedy 'investors' doing an even better job than EMET ever did. Bravo! SMH.
IMO the craziest thing is why no PR? Seems like they don't want the street to know just yet and it begs the question... why? Just a hunch but a lot of times before a merger companies clean up their debt. It literally, even just for the balance sheet in assets, makes 100% sense for Symtomax to R/M into GCAN. Symtomax, with their grow assets being built, must be over $10m+ in assets alone. It's a win win for both sides. Maybe why the quiet from GCAN, maybe not. Time will tell.