RememberMyName, They post they did $1,825,000 (which I question) and they also posted -$5,929,000 in losses.
I posted that I have a gut feeling they will not do the RS but if they do the RS or not, they win either way. If they do the RS the stock goes back to $.12 (+ -) and they dump 200,000,000 and rake in another $24,000,000. If they do not do the RS they continue to sell the additional 10,000,000 added to the existing 10 billion (total 20 billion authorized) and sell them for $.001 for another $10,000,000 windfall or pump them back to a penny and make $100,000,000 while retailers are still at a loss.
I was not aware that their Marijuana operations would be affected by the Russia Ukraine war. REALLY! And also China? When did those two nations have any impact on locally grown and sold marijuana?
Their S1-A states the following;
The Company will not effect the Reverse Stock Split until it is cleared by FINRA. The Board retains the authority to abandon the Reverse Stock Split for any reason at any time prior to effecting the Reverse Stock Split.
The Information Statement also informed shareholders that the number of authorized shares of our common stock would be increased from 10,000,000,000 to 20,000,000,000. (Told ya they would) On March 2, 2022, we filed a Certificate of Amendment to our Certificate of Incorporation in Delaware which increased the total number of authorized shares that the Company has the authority to issue to 20,010,000,000
We are a holding company, and our principal assets are held by subsidiaries, and accordingly we are dependent upon distributions from such operating subsidiaries to pay taxes and other expenses. We may fail to successfully execute our business plan. (Also any profits stay with the subsidiaries and does not pass to SGMD's financials).
Profitability may not be realized. We cannot guarantee that we will succeed in achieving our goals, and our failure to do so would have a material adverse effect on our business, prospects, financial condition and operating results.
We import many of our products from Asian countries, including the People’s Republic of China. Disruptions or a change in the tariff situation may negatively affect our business. Our business, financial condition and results of operations may be materially adversely affected by global military and/or cyber conflict, including Russia’s invasion of the Ukraine
If we fail to establish or maintain effective internal control over financial reporting, we may be unable to accurately report our financial results or prevent fraud, and investor confidence and the market price of our common stock may, therefore, be adversely impacted.
SO. They may not even post valid financials or even post them at all and state that fraud may happen and that they may fail to maintain effective control of their financials? REALLY?
I read that as they will not accurately post financials and fraud will happen. All to get YOU and new suckers to buy more shares. NICE!
I hope they do a RS. I am waiting to short the HELL out of it. AGAIN!
