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Today's volume 7.1M, above average
Pharmagreen Biotech Inc. (PHBI) Announces Exciting Revenue Potential for Its Project
09:15:00 AM ET, 10/10/2024 - GlobeNewswire
CARSON CITY, Nev., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) ("Pharmagreen" or the "Company") is thrilled to highlight the significant revenue potential from its latest project under development. During a special session on Creative Spaces, hosted on X on Monday, October 7, 2024, CEO Peter Wojcik shared exciting insights into the company's business advancements and growth strategies.
Pharmagreen is developing a specialized form of cannabis oil known as Live Rosin, a highly sought-after cannabis concentrate recognized for its unmatched purity, potency, and rich flavor profile. Produced through a solventless extraction process that uses no chemical solvents, Live Rosin sets a new standard for quality in the cannabis industry. Pharmagreen’s proprietary extraction technique ensures the highest cannabinoid recovery rates, while maintaining the plant’s natural properties. This process is further enhanced by the company’s exclusive Standard Organic Non-Spray Cultivation Procedures (SONSCP), ensuring the optimal cultivation and quality of their crops.
Pharmagreen’s innovative farming and processing model is designed to yield an average of 6,000 liters of Live Rosin per 100-acre farm, per crop cycle, depending on the cannabinoid content of the plants. With 4 to 5 crop cycles per year, depending on the strain, the company is poised for significant production output. Live Rosin currently commands retail prices ranging from $40 to $100 per gram in the U.S., with even higher prices in European markets.
Pharmagreen’s projected revenues are impressive:
At $1 per gram, estimated gross revenues are $19 million in year 1, rising to $32 million by year 3.
At $5 per gram, revenues are projected to reach $95 million in year 1 and $158 million by year 3.
At $10 per gram, revenues could soar to $190 million in year 1, growing to $317 million by year 3.
At $20 per gram, revenue estimates reach $381 million in year 1, and a staggering $635 million by year 3.
To ensure successful distribution and market access for its premium Live Rosin, Pharmagreen is actively seeking distributors, joint venture partnerships, and is exploring the acquisition of a cGMP-certified cannabis lab in Europe. This strategic move would enable Pharmagreen to tap into the lucrative EU cannabis market, where Live Rosin commands even higher prices.
While these revenue projections are grounded in extensive market research and current industry conditions, they are dependent on the successful completion of several key milestones. These include securing cannabis production and processing licenses, export/import permits from foreign governments, land leases, and the necessary funding to establish the cannabis farm and processing facility, as well as ensuring market access for product sales. Pharmagreen is making consistent progress toward these critical objectives, though outcomes cannot be guaranteed at this stage.
Peter Wojcik, CEO of Pharmagreen Biotech Inc., stated, "The revenue projections are indeed promising, and I am eager to bring them to fruition once the initial milestones are achieved. This is an exciting project, and it’s a privilege to be leading its development."
News perhaps
@pharmagreeninc
Pharmagreen Biotech Inc. (OTC PINK: $PHBI) is pleased to announce that it will be releasing its news release this week, as previously communicated. Pharmagreen remains committed to transparency and keeping stakeholders informed as it continues to advance business development.
6:45 AM · Oct 9, 2024
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3,145
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is there actual news, or is this hype?
at all...
nothing redeeming...
post mortem
this thing is dead
I thought the whole point of this was the farm - to produce and process superior cannabis...but now it's a mushroom vitamin bullshit thing? wtf is the farm doing right now. This is dead if that was all a craptastic lie
got it. thanks, onion.
I'm not mad about this outlay below right now, and my standing or loss. BUT, personally, I'm dying for some action now. we have been patient:
Market Cap $ 3,137,851
Shares Authorized 2,000,000,000
Shares Outstanding 454,760,969
Shares Outstanding Date 03/03/2023
Shareholder Count 53
Shareholder Count Date 12/29/2021
Float 267,093,158
Float Date 11/03/2021
Short Interest 608
Short Interest Date 02/15/2023
I wonder what the current shareholder count is today.
is there evidence of manipulation? the sell volume on that drop tracks with a correction today more than manipulation imo. subpenny though, so a little action make lots of change (and ripples). still not pleased with no appreciable movement after so much hubub around the grow op
ouch quarterly report = pps drop.....
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how that business plan coming along haha
First production run is now completed!
Where's the buzz on the online store now open?? pharmagreen-store.myshopify.com
broke the .007 resistance level today. Maybe we can start climbing to a penny or two
I am eagerly awaiting a new (late) annual report
Cheap Weed Has Become a Big Problem in the Pot Industry
Cheap Weed Has Become a Big Problem in the Pot Industry
Why legal weed is failing in one of California’s legendary pot-growing regions (Los Angeles Times)
DOUGLAS CITY, Calif. —
Xong Vang and Chia Xiong arrived in Douglas City, a town of the Gold Rush era, hoping to make good from the next big California boom.
After the state legalized cannabis in 2016, they joined a wave of newcomers settling in this mountainous, lushly forested Northern California region known to produce some of the world’s best weed. They believed that here in remote Trinity County, they could find their own “Green Rush,” growing pot for what was promised to be a profitable legal market.
Today, the couple are struggling to keep their 3.4-acre farm going. They live in a trailer on the side of a mountain, where they eke out a modest farm life, raising pigeons for eggs. They worry about providing for their children amid what seem like endless delays to regain licenses needed to legally cultivate their cannabis crop.
Their plight is so desperate that Vang and Xiong have resorted to a path they tried to avoid: growing without a county permit.
“People say you live paycheck to paycheck, but there’s no paycheck to live off of,” Xiong said, standing amid budding plants nestled on the slopes of a rugged peak.
They are among hundreds of local cannabis growers entangled in a legal impasse that has kept many from planting and led some to consider joining a thriving underground economy that was supposed to decline after cannabis was legalized by Proposition 64.
Boom-and-bust cycles are part of this county’s history, from gold mining in the 1800s to, a century later, the crash of the logging industry. Legal cannabis was going to be a lifeline for residents. But that promise has quickly collapsed.
Part of the tri-county “Emerald Triangle” in Northern California, this expanse of forests and hidden canyons has the ideal climate for cannabis: hot days and cool summer nights. It’s described by locals as the Napa Valley of weed. If any place in California would have been expected to flourish after cannabis was legalized, it was Trinity, where the crop’s roots were sown during the counterculture movement of the 1960s.
But the legalization measure, which in Trinity won by only a handful of votes, was polarizing from the start. Critics of licensed farming worried that an influx of commercial growers would wreak havoc, causing ecological destruction and eroding the community’s sense of safety and trust. Proponents touted the benefits of tax revenue and higher property values from cultivation licenses.
Following a lawsuit, a Superior Court judge last year invalidated nearly all licenses that had been awarded, ruling that the county approved them without requiring growers to document potential environmental impacts and measures to prevent harm.
By early November, just 44 licenses had been reapproved, and about 300 farmers, including Vang and Xiong, are still waiting.
In the meantime, some have let their lands lie fallow, while others have chosen to produce illegal harvests, avoiding the fees, taxes and red tape associated with obtaining a license.
Some illegal growers have diverted streams, poisoned the land with toxic chemicals, destroyed wildlife habitat and threatened people who stray near their plantings.
County leaders say they understand the pain of growers and are working to bring on staff to speed up environmental reviews.
Keith Groves, a member of the county Board of Supervisors who sat on the ad hoc cannabis committee, bristled at suggestions that Trinity’s licensing program is more dysfunctional than others in the state.
“There’s not a program that isn’t in shambles,” he said.
Pioneers in search of riches have long flocked to this area.
The Gold Rushers arrived in the mid-19th century, as word spread of men striking it rich by extracting the metal with their bare hands. Later, hydraulic mining washed entire hillsides into the cascading Trinity River.
Decades afterward, industrial logging thinned lush pine forests, and timber companies fought environmentalists over the fate of spotted owls in what became known as the timber wars. At its peak, the timber industry was a major employer, with 28 sawmills; today, only one remains open.
Cannabis supporters believed legalization would bring an end to the cycle of boom and bust.
The regulated market was supposed to provide a stable economic foundation for this county with a population of about 16,000 that is among the poorest in California (with a poverty rate of 18%, significantly more than the state average), while ousting the unsavory characters who had abused the land and sowed fear among residents.
This year, Vang and Xiong’s plants are much smaller than usual — only a few feet tall just before harvest. The couple hold state licenses that allow each to grow up to 10,000 square feet of canopy — but they held off planting out of fear that the county would issue them fines that could total thousands of dollars a day. (In California, cannabis businesses must have both state and local licenses to operate commercially.)
They say they submitted the required environmental impact reports, but months later, the county hasn’t granted them permission to grow. They missed the early stages of the cultivation season as they waited. They decided to roll the dice, risking the penalties, and planted late into the season.
Down an abandoned section of old Highway 299 stands a small, temperature-controlled clone room housing plant cuttings of strains grown on the farm: Purple Punch, Rainbow Belt, Tropical Cookie.
Vang, 38, and Xiong, 37, are part of an enclave of 11 Hmong families, among the hundreds of people who moved to Trinity County hoping to grow commercial weed.
They quickly adapted to their new lives, residing in a mobile home overlooking the green, rolling bluffs.
They and other Hmong farmers have pleaded with county officials to speed up the licensing process. Some say they are running low on food as their land lies bare of plantings.
Financial losses from illegal operations and depressed prices have been “incalculable” for farmers, said Adrien Keys, president of the Trinity County Agriculture Alliance, an association of about 100 cultivators.
Many, he said, invested hundreds of thousands of dollars in their businesses and in a county system that is unreliable and threatens to push away manufacturers, distributors and others who rely on products from the region.
“If we lose our business, we lose our homes,” said Keys, 53.
A farmer who has been growing illegally for two decades said he spent thousands of dollars to become legitimate but ultimately gave up. The farmer spoke on condition of anonymity because he fears retribution from county authorities.
He’s growing 70 plants outside Weaverville, in a rugged canyon that gets plenty of sun for his crop but has heavy foliage that obscures the view of law enforcement aircraft overhead. A native of Northern California, he has been growing weed in Trinity County since the late 1990s.
In 2017, he decided to become a legal grower and borrowed $180,000 against his home to pay for grading the land and consulting and attorneys fees. He ran into bureaucratic hurdles, including county staff losing his application and asking him to reapply, he said. But the final straw came when the court’s ruling forced the county to invalidate all cannabis licenses.
“It’s a complicated mess,” the farmer, 57, said. “The illegal market is better. We don’t have to pay the fees and taxes.”
Michael Polson, a research scientist with the Cannabis Research Center at UC Berkeley, noted the impact of Trinity County’s chaotic cannabis program.
“The legitimacy of the licensing system has been undermined,” said Polson, who has studied how the illegal market has changed in Trinity since legalization.
Interviews with residents and local officials and a Times review of county records reveal the repercussions of an estimated 3,000 illegal cultivation sites. Satellite images show how one hot spot, Post Mountain, has been nearly stripped bare of its once-pristine forest, as if the land were going bald.
Reports of intimidation and threats abound.
A lone deputy on patrol was confronted by a truck full of men, their faces hidden by bandannas, carrying assault rifles. The deputy retreated and fled, according to Jeremy Brown, a member of the county’s Board of Supervisors.
In another instance, a man leaving his home made a wrong turn and was forced to reverse his vehicle more than a quarter of a mile uphill by an illegal cultivator, who proceeded to “cuss, yell, flip the bird to both myself and my wife,” the man told county officials in an email.
The illegal farm had been cited, but it made no difference; the owners only brought in more plants.
Local law enforcement agencies are outnumbered and outgunned. Two sheriff’s deputies are assigned to cannabis enforcement — only one of them full time — in an area larger than Delaware.
The office of Trinity County Dist. Atty. David Brady has no investigators, just a handful of staffers. Brady operates from the upper floor of the courthouse, a boxy, maroon building in Weaverville that was constructed as a hotel and saloon back when the county was settled by those heading west to seek better lives and, if lucky, fortunes.
Weaverville is the county seat, nestled in the shadow of snowcapped mountains, and it evokes those pioneer days, with a historic district lined with wood-and-brick buildings dating to the 1850s. The restaurants and other businesses bear names evoking the Gold Rush, and almost nothing around town suggests that this land is the heart of cannabis country.
Painted on the wooden sign for the Diggins, Weaverville’s old tavern, is a white-bearded gold miner holding his shovel and pike. Down the street is the Nugget, a diner.
Limited resources for law enforcement and provisions in Proposition 64 that downgraded large-scale illegal cultivation from a felony to a misdemeanor have undercut regulation of illicit grows, Brady said.
“I feel like Sisyphus, for Christ’s sake,” he said of battling the illegal trade, only to see it mushroom.
The theft of water from tributaries and streams is among the most serious threats.
“The environmental damage we are dealing with is horrendous,” Brady said.
In late 2018, the California Department of Fish and Wildlife found 900 plants and more than 5,000 pounds of cannabis during a raid on an illegal cultivation site. More than 30 suspects were detained. Some were armed and had bulletproof vests; two had fake police badges.
The operation was diverting water from the South Fork Trinity River and threatening the breeding habitat of steelhead trout, chinook salmon and the foothill yellow-legged frog, state officials said.
Grading for illegal operations has discharged sediment into streams. Petroleum products and trash have made their way into watersheds; officials have discovered dangerous rodenticides and pesticides as well. Since 2019, the Department of Fish and Wildlife has been involved in 187 enforcement operations in Trinity County, removing 645,117 marijuana plants.
Many Trinity residents express pessimism about their economic future, even as they’re reverent about the place’s natural beauty. “God’s country,” some call it.
With wildfires increasingly common because of climate change, the tourism industry that supports many has suffered. In August, smoke hung in the air as distant fires threatened life and property.
On Highway 3 heading to Hayfork, an occasional trailer comes into view; furniture and other belongings are strewn across the grass, seemingly abandoned.
The old logging town of just over 2,000 residents, about 40 miles west of Redding, still boasts working ranches raising hay and cattle. “Trimmigrants” — outsiders who come for seasonal work clipping cannabis plants — often grab a drink at Ropin Rhonda’s Saloon, a rustic watering hole named for the woman who manages the bar and expertly roped cattle in her younger years.
Hayfork native Marie Petersen works as a cannabis licensing consultant from a commercial office. The building is on a main road, but there has been little activity lately.
Standing outside the door, she pointed to a number of businesses that recently closed.
“It’s been a terrible impact,” Petersen said about the licensing crisis.
The Northern Delights coffeehouse was once a gathering place for Hayfork residents, Petersen said, with dance nights and concerts. In August, it sat empty.
John Letton leads the Trinity Action Assn., a group of residents that filed the lawsuit over environmental impact reviews, shutting down legal growers. He is a retired Trinity County Superior Court judge who, as a young attorney in the 1960s and 1970s, lived in San Francisco “and survived,” as he puts it.
Letton migrated to the area during the “back to the land” movement of that era, when many counterculture urbanites yearned to ditch consumerism, escape the social upheaval tied to the Vietnam War and reconnect to nature.
Today, he and his group are seen by many in the pot industry as archvillains, part of the older Trinity County power structure that’s anti-cannabis and determined to halt change, no matter the cost.
Proposition 64 passed by only six votes in Trinity County, and the issue remains deeply controversial.
Letton says he’s not opposed to pot — he used it after he was diagnosed with cancer and believes it is a helpful therapy. He says his goal was not to have all licenses canceled but to limit the environmental harm caused by some growing operations.
He acknowledges that there are “some people who really got screwed” but says the idea that cannabis can be the foundation of the local economy, with “bud and breakfasts” and tasting events, is a pipe dream.
Some legalization boosters envisioned a wellspring of riches from cannabis that could help pay for college, expand hospital and mental health services and lead to skyrocketing property values.
Instead, Trinity residents say, a rural, “Mayberry” way of life in which people left their keys in their cars has been ruined. The influx of outsiders to cultivate weed has left longtime residents scared and suspicious.
“What are the neighbors up to?” asked Richard Tippett, a former county official who handled pot licensing. “Who knows?”
Experts who researched the local weed market said Trinity officials focused on potential revenue but gave little thought to technical details that exposed the county to legal challenges.
“Their eagerness to accommodate as many licenses as possible and get the taxes shot them in the foot, because they rushed it,” said Dominic Corva, a sociology professor and director of the Cannabis Studies Program at Cal Poly Humboldt.
“There really is a culture war in Trinity County about cannabis,” Corva said.
Grower Terry Mines has been warring with Trinity officials for years. He tried to develop a cannabis storage and distribution facility but was denied county approval in 2020. Thus far, the county has approved licenses only for cultivation, and there are no legal dispensaries.
The county cited him for growing weed without a license, but he ignored that. So far, there has been no sheriff’s raid or other action from law enforcement, and his state license to cultivate remains active.
He’s aggressive and outspoken, traits he says have been key to making his way in the pot business. He has smoked weed since he was 11, he said, before progressing to the trade as a small-bag dealer in high school.
His move to Trinity County in 2009 coincided with the Green Rush. On a hillside in Junction City, 16 employees of his business, Hash and Flowers, breed, grow, harvest and refine cannabis flower into a high-dose paste called ice water hash, or rosin. They also breed plants and create strains. This year’s cross: Cran-Skittles and Banana Hanks.
The plants this season grew to 20 feet, a weed jungle looming above workers. The buds end up in the “spaceship,” a sterile cluster of rooms covered in a shiny, silver tarp, where THC, the chemical that gets you high, is extracted into hash. Some of that is further refined into an oil and embedded into vaporizing pens.
During a break, Mines pulled out a water pipe with a temperature gauge and waited until the heat was at the level for optimal THC consumption: 440 to 500 degrees Fahrenheit. He exhaled a plume of smoke, which briefly obscured a face gnarled by violence — part of his nose was bitten off during a brawl.
“The only thing that’s going to slow me down is a fire or Mother Nature,” Mines said.
Despite their woes, some in the community are betting that Trinity can rebound.
One hopeful sign: The Northern Delights coffeehouse has reopened. Hayfork is facing tough times, the new owner, Shawn Hill, acknowledged. But he expressed hope that the town would pull through and is making a long-term wager on the future.
“It’s about bringing a new attitude,” Hill, 37, said. “It’s almost like a game of poker. If you want to be at the final table, you gotta be able to handle the swings.”
Biden’s Health Secretary Gives Update On Marijuana Scheduling Review Directed By The President
The head of the U.S. Department of Health and Human Services (HHS) says that the Biden administration is committed to supporting evidence-based policies for marijuana as it works to complete a review of federal cannabis scheduling that was directed by the president.
That science-focused approach also applies to policy decisions on other drugs, he said. “We’re going to take a look at what science tells us and what the evidence tells us,” Becerra, who has a considerable record supporting cannabis reform as a congressman and as California’s attorney general, said. “That will guide what we do—and we hope that will guide what the federal government does.” (see video in link)
https://www.marijuanamoment.net/bidens-health-secretary-gives-update-on-marijuana-scheduling-review-directed-by-the-president/
if anything ever comes to market and hits the shelves. ...feels doable...
Anyone here ever hear of a farm with a CEO? This has yet to be a business, and yet to even be a fruitful farm! Gonna need Elon level reckless spending to double down today. The temptation for me is at or below 0% but I would be so swayed by the slightest movement, it's sad...chasin' (not where you want to be)
I'm honestly waiting for product delivery to be able to test side-by-side all this Pharmagreen genetics live rosin compared to the other live rosin products on the market- saw a couple brands for sale at local dispensary. how's our pick going to stack up? producing volume but not quality will lead to failure. Producing quality and not volume will lead to failure. But as 2022 rolls into 2023, producing anything will help me feel like I have a stake in something rather than failure haha
Agree - buyout is a pipe dream (this year)
maybe when operations actually start that's something that might materialize but not anytime soon
Stocks took a trouncing on Monday, with the Dow Jones sliding into a bear market and the S&P 500 falling to a new 2022 low. The turmoil reflects investors' concerns over a surging dollar — which can shrink the profits of U.S. multinationals — and central banks' efforts to fight inflation by hiking interest rates. The Dow shed 1.1%, a drop of more than 20% from its January peak; the S&P 500 fell about 1%. Wall Street's volatility follows jitters in the U.K., with the British pound crashing to a record low against the dollar before rebounding.
An adjustment was/is expected on the PHBI front obviously, but is this company ever going to score that license and actually start selling stuff? I fear a market downturn will lead to eventual death of this stock unless CA gives them the go-ahead to start selling Live Rosin. seems like everything else is in place to start distribution
"largest shareholder"? source? doubt that thank you very much haha
Taur, your loss to have no patience... belligerent about expecting an immediate return- that's simply not how development stage companies work. Please do your own research in the future and learn how investments work. Best of luck to you. Premature exit is probably the worst possible option imo
agree, Taur. It's starting to get interesting (soon)
lol Peter will magically change global money markets, sure. Don't invest money you can't afford to lose- that's just investment common sense. The timeline for a return is clearly stated in what you're commenting on!
California Cannabis Taxes Cut; Prices Likely to Stay the Same
California state Legislature voted to approve AB 195, a bill that would eliminate the state’s “cultivation tax.” Gov. Gavin Newsom is expected to sign the bill into law.
correct that's how an investment in a development stage company- which has no sales presently and zero expectation of any change to share price per quarter until operations start- would work.
company is virtually unknown and this forum is one of the top Google results, so it's not helpful to get riled up over unrealistic expectations that no one promised. Bad face for company when shareholder is aggressively proclaiming scam before they are even up and running. do your own research. this is not investment advice etc etc etc just my two cents=2 shares today. considering bear market/inflation I think my two cents should really be about 1 share. When the company starts operating, that valuation will change, dramatically I hope. surely we all here believe the same
Free cash flow may triple year-over-year from 2022 to 2023 [.02/share->.06 per share] then triple again [.06->.18/share] and finally double once over by 2025 in three years [.18-> ~.35/share]. This is based on the assumption of an approx. .02/share true value now compensating for market movement with soaring inflation and psychopathic politicians reaming the 99% of us who weren't born into the money multiplier effect. tbd how accurate any of this is with cannabis crop price changing pretty significantly over time. the live rosin is what we all should be hyped about
their current business plan projects that kind of share price in 2024, by 2025. but most of this wasn't planned back then. development stage company...know what you are buying
see business plan that has been shared over and over
There are high-level talks underway about putting together a wide-ranging package of incremental marijuana proposals that House and Senate lawmakers believe could be enacted into law this year: New Details On Congressional Marijuana Omnibus Bill Emerge As Lawmakers Work For 60 Senate Votes
A measure to open up the banking system to cannabis companies now conducting business in cash is drawing tentative support from the Senate: Cannabis banking measure gets fresh look on Capitol Hill
Are people just shilling recycled company info? haha, I'm all for it- build some interest beyond us early adopters
what would be abso-fuc-king-lutely beautiful would be a buyout from Pfizer, Merck, Monsanto etc. after some kind of legislation passing triggers megacorp prospecting...Pharmagreen would be a top acquisition target
Revenue posts to quarterly financial statements. That's just how the stock market works...
hold your breath for another 6-8 months then it's fair to expect valuation gain
They linked this article on twitter, specifically the possibility of cannabis trade agreements out of CA with other states. Company seems to be realizing production at just the right time. I'm doubling down over the next month.
posting:
$PHBI, What Inter-Sate Cannabis sales on the horizon ?
— Pharmagreen Biotech Inc (@pharmagreeninc) May 23, 2022
Well then, that's exactly what LVF's, California cannabis farm, that produces legacy status, high THC sun grown, veganic, non-spray flower tops are destined for. #cannabisindustry #investorshttps://t.co/WA0tsTZZaC