Blum Holdings Inc (BLMH)

[pearjammer]

What bothers me the most about the 1 billion shares diluted...was how once the free atm machine ran dry....they IMMEDIATELY did a 15 to 1 reverse split ....to then Immediately start diluting again with $40 million in toxic financing.

It bothers me that the CEO Derek Peterson ....kinda laughed at our questions concerning a reverse split on 2 conference calls and said he does not need to do one and wont do one unless there is a big merger in the works or they were allowed to up list lol

I do not like how Derek Peterson uses every con-man trick of the trade..... you know like the " we are in it with you now" locking up up shares for a few months after they sold 90% of all their shares.

Its a trick to show "how they are with the shareholders now" but it basically covered up the insider enrichment plan.... They have used tricks like this a few times and it worked. Like the time "preferred share ratio scandal" lol Where they changed the language, but still ended where they wanted to be--> sold out of 90% of the 1 billion shares that were availible to sell.

You see it was a "work" saying they will lock up the little shares they had left until november ( i think)

because they knew they were going to do a 15 to 1 reverse split and then immediately take on $40 million dollars in toxic financing lol They knew any smart investor would follow the bread crumbs and either sell or stay away awhile....until its flip time.

If you follow this pos company...they always let the pps run a tiny bit toward the end of the year for metrics purposes and to try and get some excitement brewing and then methodically take it down 3 weeks into the year...and dilute

Thing is....for all Derek Petersons shady past and present behavior..... where did the $245 million dollars
go? ( thats my very conservative estimate of diluting 1 billion shares strategically and $60 million in revenue)

I mean we know EG cost $5 million and Im not even sure what Blum OAK cost maybe $40-50 ? and we still pay rent on the land lol

Lets be really realy generous and say 1 million in dispensary build out from scratch...= $4 million

Renovations to CA Dispensary - 1 million

Lawyers, designers, airfare ect - $1 million

It gets cheaper once your process and crew is in place...when putting in paperwork and building out a concept.

So $55 million dollars.......where did the rest of the money go? They barely have a cash reserve on hand?