There has been quite a bit of talk / posts about bs information and emails. We all need to remember that CLSI is a speculative play based on rumors of a reverse merger. Facts, phone calls and emails, would support that the reverse merger is a reality however no public information has been released. None.
So how do we know what to believe, what is BS information and what are the facts. No information has been released, specifically a public announcement to shareholders or SEC filings naming the new company or officers. An 8k has not been issued or any press releases but there has been a great deal of false speculation.
Back when the price jumped to .11 there was information on this board, specifically in the I box, about two possible cannabis companies. Prior to that there was speculation about a cannabis financing company out of California. There was a great deal of hype associated to the rise in the price prior to the good due diligence done by current board members.
Many of those that posted the initial hype have moved on. I imagine many made a great deal of money on the initial pop. Many have stayed and are frustrated with the drop back down to below .02. The point is that the current moderators on this board have attempted to remove the hype and clear up the BS. The information in the I box has been removed.
That all being said, where are we today. CLSI is still a speculative play and no public information of any kind has been released. Those of us here from years back and from the past few months, shareholders, are awaiting news of the reverse merger. What we do know is based on share holder calls to Clancy and the SEC filings to bring the ticker current. Those are a fact.
Clancy Systems, specifically Liz Wolfson, has been up front and honest when responding to shareholder inquiries as to what their intent and current status is. Clancy was approached in April by Tony Nicks about a reverse merger. Tony would broker the deal and bring filings current. Clancy would become a private company and cancel 137 million shares to benefit shareholders. Clancy received no compensation in the deal. Clancy asked to not be told any information about the acquiring company.
We could talk and argue about the above paragraph for days, we have in fact been doing just that for months, specifically the part about Tony Nicks brokering the deal. There is really no information. It would have been a better situation if a agency was brokering the deal but we have only a specific entity, one guy. Much has been said about how this has been handled, filings, etc.
So, to respond to those who are posting about BS on this board, the conversations with Clancy / Liz are valid. The information from Tony is elusive. The new company unknown. The hype and I box have been addressed. Our speculation is still just that, losses are real, tensions are high and frustration is justified. We are all waiting, shareholders and Clancy.
To address the latest information and apply some logic to the validity we have to consider the source and frequency that it has been stated. It appears that the reverse merger is still being brokered by Tony. We do not have any facts that points to a failed merger or that this is not the original company. We have heard several times that it is a non-US company or a foreign entity. We know that that alone could explain some of the delay.
We have also heard, several times that the share structure is being addressed. The canceled shares are an issue. This is most likely causing delay. We could talk a lot on this point and probably should. The stop sign is another issue that could cause delay, the infamous attorney letter. In my opinion for this to be resolved the identity of the new company would have to be released and I do not think they are ready, another source of a delay. Finally, there is Tony and the filings, they appear to be inadequate in many ways, accuracy, properly filed, rushed, whatever, another possible delay.
In summary the BS has been addressed and moderated as far as posts on this board are concerned. We have no control over the way the merger has been handled or brokered. We all want information yet we do not understand the reasoning for holding it back. We can only make assumptions about why it has been delayed. We can buy, sell or wait. In the mean time lets talk about the facts and search for information to support them.
Best of luck to everyone
