Replies to post #2808 on Can B Corp (CANB)

[Carini]

Well, just quickly looking at their last 10-Q from August, I notice they had a total of $410 in cash as of June 30, about $70,000 in notes payable, and a net operating loss of $230k (some of which is being paid in stock)

With net cash operating expenses at almost $80k and less than $500 in the bank, you can bet they're making up the difference with toxic convertible notes. Or, as they put it:

As of June 30, 2016, the Company had cash and cash equivalents of $440 and negative working capital of $200,206. For the six months ended June 30, 2016 and 2015, the Company had net losses of $230,907 and $3,020,408, respectively. These factors raise substantial doubt as to the Company’s ability to continue as a going concern. The Company plans to improve its financial condition by raising capital through sales of shares of its common stock. Also, the Company plans to pursue new customers to attain profitable operations. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

Anyway, two notes jump out at me:

(1) The one dated February 1, 2016 with a $30k balance as of June 30
(2) The one dated March 15, 2016 with a $31,250 balance.

The first one looks like it hit its 6-month mark on August 1, which means it could start converting under Rule 144.

Notice anything that started to happen around that date? Oh look, suddenly a bunch of new people showed up and started talking about how amazing this stock was going to be after the board was silent for five months (see post #2029). Weird how that started happening literally the day after that $30k note could start converting and shares could start being dumped...

Looking at the chart, we see beginning early August the PPS rise over a number of days on low volume (gotta start the pump like that to make it look legit), and then beginning in mid-August, the dumping began in earnest and the PPS dropped back down (oh look, a PR was released August 15). Then another rise on low volume leading into September, and beginning this month it's never hit those highs again, but has seen sustained selling on heavy volume.

That selling looks like it has increased since mid-September, not to mention that it seems like several paid promos started going out around then and more "new faces" showing up on the board, plus the last two PRs. All that great news and excitement and "buying volume" and yet the PPS keeps declining? I wonder why?

Oh look, that #2 note hit its 6-month conversion date on September 15...

Probably all just a coincidence though.

[Homebrew]

Nope. Check NASDAQ listing requirements. WRAP's a LOOOOOOOONG way away.

Is this company likely to go to the nasdaq