BLDV ran because of Alper's PR on 4/20/17 wherein he announced JV's with Israel and AMS. Mind you, a JV with AMS was not news. On 12/20/16 he announced BLDV was "still active in working with AMS to finalize their Financing deal, which once completed will result in AMS being acquired as a wholly owned subsidiary." So that was nothing new and the stock remained in deep trips for the next 4 months. https://www.otcmarkets.com/stock/BLDV/news/Blue-Diamond-CEO-Joshua-B--Alper--provides-end-of-year-updates?id=147458&b=y
IMO what caused the run that began on 4/20 was Alper's statements that "(AMS) is in the final stage to gain a full license to grow, market and sell medicinal cannabis products via Health Canada. BLDV has been working with AMS over the last year to finalize funding for its Fifty (50) thousand square foot cultivation facility..." --AND that-- "AMS, when licensed, will be a Global Project, with their products being available worldwide."
NOTHING was said about AMS needing $12 million and months of work to complete the build out of their empty shell BEFORE they would even qualify for licensing.
IMO Alper's PR misled investors. His statements that AMS was in the "FINAL stage [for] full licensing"... "FINALIZE funding"... made it sound like they would soon be selling products "worldwide" quite soon.
So what has Alper done to "finalize funding" for AMS? Nothing much that I can see. This summer he announced that he had secured the legal documents needed (i.e. Trowbridge & Sildoti) to allow him to solicit funds for his "Michigan Growth" real estate idea-- not AMS. At least AMS has a shell of a building sitting on land and are part way through the licensing process (a process which was reduced from 7 steps down to 6 in May which throws into question exactly where AMS sits at the moment. See the intro box). Michigan Growth is not a marijuana play... it's a real estate idea which currently consists of no property and no buildings.