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are you guys for real with the lack of patience? HTIR first posted a month ago....whether anything pans out from his efforts who know, but considering the way things have gone over the last several years, i don't know what makes anyone think we would see action that results in increases in the share price within that one month (and if we did, it's probably not the types of moves that will lead to anything good down the road).
It sounds like HTIR has some experience and is working towards some things that might play out. If things happen in the next year, cool. If they don't, i don't think anybody's going anywhere with their current positions.... so i don't see why everybody got so demanding at the slightest glimmer of hope. Just sit back and see what happens.
yeah i got in for the weed play, which sounded like a good move at the time if they had some money and knowledge and were ready to move.... however sounds like we didn't have money or knowledge of the Michigan market and took to long to get things going while the market faded. If we had gotten land and licenses and got even a basic operation going, i think they could have then sold the operation, or the whole company,
But here we are, now i'm just hoping the pick another industry that gets other people as excited as i was and i can get out.
Having done some work in the cannabis field in Michigan, unfortunately I can say that otherwise smart and savvy business people definitely waste tons of money and do really stupid things in the cannabis field because they presumably think there is no way they can lose money in cannabis, and don't realize how quickly the market has changed.
I want to be hopeful, I want this to run....but seriously doubting that it will at this stage.
The Michigan market is facing some hard times. If we're trying to build an operation from he ground up while companies with up an running operations are failing, I think we're doing it wrong.
https://mjbizdaily.com/michigan-cannabis-company-skymint-in-receivership-after-being-sued/
Approvals don't really mean much though. It's still a LOOOONG road from preliminary approvals to seeds in dirt. They still have to acquire the land then do a build out of the land. Which means finding someone capable AND having a plan AND money to build it. What does that look like here? are we doing indoor or outdoor? Are they using "Blackbox"? Does that even exist as a product?
I've seen many of these projects stall out after land was acquired. It's not cheap or easy to meet the state requirements to actually get your operating license from the state.
Proper title would be "Hero Technologies in MORE discussions to buy SOME Michigan Land"
IMO, you can't be in discussions to buy more land if you have not yet bought any land.
Yes, April 2021 they allegedly already had zoning approval on the 120 acres, with approved site plans. The 120 acres is also i believe what the revenue projections are based on.
https://www.globenewswire.com/en/news-release/2021/04/05/2204220/0/en/Hero-Technologies-Subsidiary-Receives-Zoning-Approval-for-Cannabis-Cultivation-on-120-Acre-Michigan-Property-Planned-for-Purchase.html
So if we're now down to 10 acres, and the cannabis price has tanked, what are the current revenue projections? Oh also, when will seeds be in the ground?
more PR: Breaking News! The most successful Cannabis operators have great management teams. Some of these teams are located on the east coast. Hero Technologies has an east coast management team!
I'm sorry, I suppose I should drum up some more PR. Get your moon tickets now because the following is undeniable:
Breaking News! For decades, cannabis has been a lucrative industry with large profits and low overhead. HENC hopes to someday capitalize.
Breaking News! Marijuana grows best when supplied proper light, nutrients, and water. HENC intends to do this!
haha, yes, they must have been reading this page again and saw we want news...as they have none that pertains to the company, they just give a general Michigan update. I'll fill in what they left out or misstated:
Revenues are increasing, but they didn't mention that price per pound is tanking as more growers obtain licenses and have product entering the market daily...we are still on the sidelines.
The PR states that obtaining prequalification is the most significant step in the process. I disagree. I'm familiar with the process. Prequalification essentially says "we did a background check and nobody is prohibited from obtaining a license, you can now start applying for licenses." I would argue the most significant step is issuance of a local license/permit, which i do not believe has been done (there was prior press about obtaining zoning approval for the land, that is not the same thing...that just confirms the property is zoned to allow a marijuana grow, but says nothing about whether the municipality will actually issue a permit for it).
The press release also states "We are excited to see the continued rapid growth of the Michigan cannabis market as we finalize our state license and prepare for high-volume production," said Hero Technologies' CEO Gina Serkasevich. This is misleading... obtaining the state license is essentially the last step in the process that involves an inspection of your completed facility. It's the last thing that happens before you flip on the lights and put seeds/plants in the ground. You are nowhere near "finalizing" the state license unless your facility is ready to go.
yeah that was my thought too... if they have good things to discuss, why not put it out there so investors know about it?
I was hoping this was a real operation they were trying to get off the ground with some urgency. Getting into the market a year ago would probably have been vital to success. Now the market in MI is absolutely flooded with growers and product, with more coming online every day. I think they missed the boat here... what's the next trend they'll shift to?
Yeah, i bought in based on the news in Michigan.... knowing that Michigan was exploding and expecting them to move fast and start growing. But then not much happened. State approval took longer than it should and still no shovels in the ground or licenses issued as far as i'm aware.
Now Michigan is basically flooded with weed and retail prices are cratering.
will that be before it decreases another 50% though?
"we will keep investors closely aware of further developments in the Michigan cannabis market, where our subsidiary, BlackBox Systems and Technologies LLC, has received pre-qualification approval for a license to produce both recreational and medicinal cannabis."
Ahh, okay...so can you make us aware of further developments? the approval was a while ago, Michigan is a fast moving market....surely there is more news than just the approval? If not, we're going nowhere.
...but that kind of implies that they would be even better served if they got out until the dilution is over, then got back in.
...but if this is turning around, any of those "fools" could now repurchase more shares than they sold, with the same money.
also, for most shorting, the price could probably 5x before they cover and they'll still be up for the year.
sounds more like promotion than just being a messenger.
Who was the message from and have any links?
Agreed. Even if all preferred holders are 99.9% sure the share price will be $5 or more a few years down the road, it would be absolutely reckless to not cash out at least 10% when it is still life-changing money.
...I think they just did.
I have no idea on that.
I just know Michigan's marijuana licensure process.
I agree that this prequalification seemed to take longer than most. Not knowing when it was submitted I don't know if there was a delay in getting it filed, or a delay in the state processing it.
However, obtaining pre-approval means that the necessary background checks have already been completed. The Michigan approval process is pretty thorough, especially on the medical marijuana side, looking into any individual or entity that owns more than 10% of the company, is an officer, or has managerial control.
Blackbox Systems and Technologies LLC is a new company created in April of 2021, so it naturally would not have much of a history of anything. This is standard in Michigan to create a new entity to obtain marijuana licensure.
Blackbox Systems and Technologies LLC is a subsidiary company set up to conduct the Michigan Cannabis operations. HENC has ownership interests in Blackbox (i'm not sure how much).
This prequalification allows Blackbox to proceed with obtaining local municipal approvals for its Michigan grow operations. Anything previously stated about "approval" of the land have just been verbal and can't be relied on. Now they can start the process of actually getting official local approvals.
I added more info that they actually received a second prequalification yesterday.
What is not working about the link? does it not pull up the state of Michigan Licensing Website showing the information on BlackBox Systems and Technologies?
Michigan Subsidiary Receives Marijuana Licensure Pre-Qualification!
On 9/16 HENC's Michigan subsidiary, Blackbox Systems And Technologies, LLC, received its Medical Marijuana License "Pre-qualification" from the state.
https://aca-prod.accela.com/MIMM/Cap/CapDetail.aspx?Module=Licenses&TabName=Licenses&capID1=REC21&capID2=00000&capID3=05PNB&agencyCode=MIMM&IsToShowInspection=
Just yesterday, it received its Recreational Marijuana "Pre-Qualification."
https://aca-prod.accela.com/MIMM/Cap/CapDetail.aspx?Module=Adult_Use&TabName=Adult_Use&capID1=REC21&capID2=00000&capID3=05T6R&agencyCode=MIMM&IsToShowInspection=
This pre-qualification is essentially a background check on the company owners/officers which allows the company to submit applications to the municipalities for local licenses and permits.
Yeah, I'm new here getting involved because of the blackbox stuff and Michigan operations.
I'm familiar with the Michigan licensing process and there should be more updates to provide on that process if the company is pursuing it with any diligence... submission of the state application for sure, and probably state pre-approval by now. If they don't get their state licensing, any talk about land deals is just hype. In the Michigan Cannabis real estate market, if they had land deals under contract and obtained municipal zoning approval (even just verbal from an inspector or something... you can't wait until everything is confirmed on property in MI), those deals probably should have closed by now too.
Yeah, this is me (regarding purchasing, not selling). I saw some hype/DD a while back that looked promising, worth throwing some money at. But there's obviously risk as well, so I bought what i'm comfortable losing, and don't plan on selling unless it's at a decent profit. But i'm not emotionally invested in this one or keeping close tabs on it. If we see a good spike, great. If not, and i'm still bag holding in a year...so goes the OTC.
Including more of the quote sure suggests that even the company acknowledges as of July it was not a Fully Reporting Issuer, and was not providing reliable information, if it needs to hire another company to assist in accomplishing this.
"This will assist the company in fulfilling its regulatory obligations to shareholders. Clear Trust will assist us as our New Transfer Agent in the task of becoming a Fully Reporting Issuer. Our new Transfer Agent will be pivotal to assist us in providing reliable information to accomplish this goal.
Once this is accomplished, the company will no longer be listed in TD Ameritrade's list of companies not eligible to trade in OTC Markets. We strongly believe that TD Ameritrade has misled investors by including us in that list as we have continuously been reporting fully transparently to SEC Regulators."
Breaking ground in September in Fairfield but the zoning approval from April is in Pulaski Twp? Is there more than one Michigan property, or did something change and I missed the news? Has this land been purchased, or lease/purchase rights secured? Also I don't see that Blackbox has state "Pre-approval" so who is breaking ground and which entity will obtain the licenses?
Getting skeptical. I've got some knowledge on the Michigan cannabis requirements. Michigan is definitely ripe for marijuana development, but you need to do some legwork to identify the locations, and then move quick. That does not seem to be happening here.
https://www.globenewswire.com/fr/news-release/2021/04/05/2204220/0/en/Hero-Technologies-Subsidiary-Receives-Zoning-Approval-for-Cannabis-Cultivation-on-120-Acre-Michigan-Property-Planned-for-Purchase.html
Based on what I've seen from TD Ameritrade, this stock isn't on the list?
I haven't been here for too long, but it definitely seems like progress has slowed since the beginning of the year. Would be nice to get some kind of PR/update from management on progress in the grow facility in Michigan. As far as I can tell, the Michigan company still does not have state "pre-approval."
Rome wasn't built in a day, but Michigan's market is blowing up and you need to be in it to make money.
Are the pumpers trying to get a pump in before the 13th? Or do they really believe in this company and it's future? I'm down enough that i'll probably hold until then in case it pumps somehow... maybe just hold into the dirt as a lesson learned since i'm not in for much anyway.
I can totally understand trying to play the pumps and make money, that's what I was doing and got stuck bag holding, but seems pretty far-fetched that anybody honestly thinks this company has a real future.
Got the same notification for another stock. It does say that there may be more stocks on the list that you are holding than just the one the notice is about.
and then the share price dropped. Any news?
The joke is if you bought this for short-term gains and are upset that haven't been able to flip. You should expect fluctuations and know that from .14 it could easily have doubled or cut in half.
If you're a long-term holder and believe there will be billions in revenue, are you seriously worried about a 2 month drop of 8 cents?
try again. 6 months before today was 11/14/2020 (which was a weekend)
11/13/20: .007
11/16/20: .008
11/17/20: .015
i was in at .005 on the way up, now just hoping for a pump to hand my bags off to someone else. I'm not in for much at all though, so not too concerned about it either way. I bought the pump, not the company. Looks pretty scammy.
Have they released any timelines or status updates on the licensing process? I'm in Michigan and fairly familiar with the marijuana licensing requirements. I saw the PR reporting the local zoning approval for the property. Do we know if they closed on the property?
what PPS is it holding at? not seeing it.