This is about shareholder confidence, of which Canbiola has none, hence the massive loss of value in the pps.
Basically, loss of confidence has occurred with every single stock in the Cannabis sector. You can't treat this as unique only to Canbiola.
Add Dilley to the laundry list of other things Canbiola has done to damage its reputation:
CVSI's CEO actually defrauded its investors, along with several other lawsuits identified in the filings. Once he was cleared of the fraud charges, CVSI gave him 3 million shares. I recall you were a CVSI shareholder, so their fraud was ok with you? However, a couple of FINRA violations on the CEO, and a former Director who has not had charges formally proven, are not an ok investment?
Late filing every quarter
Still within the legal bounds of SEC filing, and they are not missed filings like many other companies.
Officers quitting suddenly
Dr. Mack was referenced as interim, so I don't think this was intended for long term. The Home Depot guy was brief, so sometimes, for whatever reason, things don't work out. I've hired people who you thought were right, but they aren't. Or, the position wasn't what you thought it was going to be.
Insiders selling shares (never once has an insider BOUGHT a single share of Canbiola, have they?)
I have only seen a few filings of sold shares in the past couple of years, with nothing that significant. As a startup company, it's pretty common to use shares as compensation instead of cash. So, why would they need to buy shares?
Diluting the stock by increasing OS to 700,000,000+
The filings explain the share expenditures, and much of it due to acquisition. KGKG is over 700 mil OS and has done pretty well for investors.
Increasing AS to 1.5 BILLION
If you are approaching the existing AS of 750 million (KGKG is almost at a billion AS), would you go through all the trouble of increasing it only 25% (to a billion), or increase it to 1.5 billion for extra flexibility?
Authorizing a 300:1 R/S (without decreasing the number of authorized shares or giving anyone a say about it, how convenient)
Dare I mention the vending machines?
Why does everyone care so much about the vending machines?
Dumping shares daily to pay for their operations - since, you know, their business doesn’t actually support itself
Compensating themselves handsomely while the company loses money
CVSI had operating losses of $13 million in 2016, and $5 million in 2017, which included a combination of high compensation and sizable debt. That was ok to invest in, compared to similar compensation with Canb and no debt?
And on and on.
But the FDA and the sector are the ONLY reasons this company has tanked, right?
Considering you take Canb's stock chart performance for the past 6-8 months line it up with all the other Canabis stocks (excluding maybe CWEB), and they follow almost the exact same trajectory. CVSI below a buck, and down 80% percent for their investors. That is just a coincidence?
Canbiola is a joke run by frauds. 90% plus losses for shareholders, while the board members laugh all the way to the bank.
Isn't every Cannabis stock down 60-90%, with insiders still getting the same compensation? I have not seen any of these company filings where insiders reduced their compensation.
I don’t wish ill on anyone, and I hope everyone makes money on their investment ventures. But this stock...sucks.
I concur with the first sentence, not the second.
AI
