Saturday, June 08, 2019 3:10:20 PM
Also, there are plenty of companies doing quite well on the OTC and have not uplisted to the Nasdaq yet. One of them is Cresco Labs Inc.. They are on the OTCQX and the stock price is at $10.21. Another is Acreage Holdings Inc their stock price is at $18.01. So, SGMD can do quite well on the OTC even though Jimmy has said he wants to uplist to the Nasdaq and is positioning the company to do so. I think if he does that it will be gold for us as investors. Read the article below where it mentions several cannabis companies in it. Interestingly, when it gets to Sugarmade it says of managements views on the acquisitions: "things(acquisitions) are apparently looking so good overall for the company that management has begun positioning for a potential NASDAQ uplisting, tapping the requisite legal team to expedite the process." So, that's why I think their focus will be on the acquisitions being closed out first and then an uplisting to Nasdaq. As you have said the stock price needs to be about $4 to do so. So, if they close out the acquisitions it will give them the revenue base to keep the necessary stock price to remain on the Nasdaq. That is why I and evidently SGMD thinks that after the acquisitions the stock price will be well over $4.
Also, I have been analyzing this relationship that SGMD has with Hempistry. SGMD classifies itself as a holding company. A holding company is a parent corporation that owns enough voting stock in another company, that it can control that company's policies and oversee its management decisions. Under the SGMD umbrella we have Bizright, BZRTH, Sky Unlimited, Hydro4Less, etc. To me it is looking more and more like SGMD will just have a stake in Hempistry. It is much like Acreage Holding has a 7% stake in Dixie Brands. I say this because they have created Hempistry Holding. Under it's umbrella so far is Hempistry LLc. It looks like Hempistry Holdings will have it's own companies under it's umbrella. So, to me it is looking more and more like a reverse merger is out of the picture for SGMD and Hempistry. Because, I remember a while back we were all discussing this and RememberMyName said that to do reverse merger it had to be with a shell company that was not making any money. He was very right. But, then I found some information from this lawyer who specializes in acquisitions and he said that it could be done with a company making a little money. Well, after these acquisitions are complete SGMD will not be making a little money. So, I dont's see it. But who knows.
https://www.prnewswire.com/news-releases/cannabis-cultivation-operations-booming-as-cannabis-friendly-regulations-fueling-big-revenue-opportunities-803491394.html
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