Replies to post #146186 on Blum Holdings Inc (BLMH)

[Magnum7419]

To recap here are several false and or outdated statements within that article:

It should be noted that the article has been updated all along so any prior statements should have been amended.

Here is one

"In addition, a tell-tale sign of dubious management is when a company's share price is being driven by paid promotion and nothing else."

Latest 10Q shows share price driven by sales in Produce and CAnnabis.


"heres another false statement

As at 31-Mar-14, the company has 246 million shares outstanding in addition to 19.5 million warrants outstanding (at an average price of $0.21 per share). Couple that with the 21 million shares and 11 million warrants granted to Dominion Capital for convertible notes held and to be issued. Total shares outstanding are approximately 298 million.


Common stock, Par value $0.001; authorized 350,000,000

shares; issued 165,105,886 shares as

of March 31, 2014

www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10149232
"the company is on pace to be out of cash in one or two more quarters."

With only $3 million of cash on its books as at March 31, 2014 (per latest 10-Q) and $1.5 million cash burn (aka cash used in operations per cash flow statement), the company is on pace to be out of cash in one or two more quarters. I guess it makes sense that they filed an S-3 on April 17, 2014 for a proposed raise of up to $50 million which basically sets the current shareholders up for massive dilution.
here is another one

"Derek Peterson has been talking up its potential as a Marijuana play since at least 2012. Sadly, two years later, after spending millions of shareholder dollars, the company has barely got its foot in the marijuana door."

TRTC is the only public company selling Marijuana in CAlifornia

HEre is another false statement :

Amy and her husband are the company's largest shareholders, holding just shy of 40% of total shares outstanding and also control a majority of the voting rights.



Here is the true numbers:

Major Direct Holders (Forms 3 & 4)
Holder Shares Reported
NAHASS MICHAEL 4,200,796 Jul 21, 2015
PETERSON DEREK 2,038,235 Jul 21, 2015
ROSS STEVEN J 1,700,000 Jul 21, 2015
ALMSTEIER AMY 1,574,305 Sep 3, 2015
VANDEVREDE MIKE 1,156,944 Jul 21, 2015