why? Natural Instinct or gut feeling? Just an observation?
This happens every month:
“The dividend of $0.0667 per share of Series A Convertible Preferred Stock”
Those preferred stock holders should tell the CEO to stop that dividend if they don’t need it because it likely drags down the SP imo.
“1:15p ET 6/3/2022 - Dow Jones
SEC Charges Cannabis and SPAC Promoter With Fraud -- Barrons.com
By Bill Alpert
The Securities and Exchange Commission has filed a civil fraud complaint against Martin Sumichrast, alleging that the longtime promoter of small-stock offerings plundered an investment fund he managed, both for his personal benefit and to bolster a cannabis company that is now called cbdMD.
Barron's featured Sumichrast and cbdMD (ticker: YCBD), then called Level Brands, in a 2018 investigation of the small-stock offerings allowed under the SEC's Regulation A+, a rule rolled out after Congress had pushed the agency to make offerings easier for small business. We showed that in the first five years of such offerings, the average Reg A+ stock fell 16% in the six months after its debut, underperforming by 22% relative to the rising universe of small stocks.
Many Reg A+ initial public offerings were organized by veteran promoters like Sumichrast, whose record of poor-performing deals Barron's tracked back to the 1990s. Sumichrast didn't respond to attempts to reach him at the time of the 2018 report or following the SEC charges this week. As of Thursday, no filings listing attorneys for Sumichrast had appeared in the SEC case.
In the complaint, filed Tuesday in a Charlotte, N.C., federal district court, the SEC charges Sumichrast with six counts of fraud. The agency alleges that Sumichrast made unauthorized disbursements from an investment fund he managed, to enrich himself and also to subsidize cbdMD and dress up its financial statements for its RegA+ IPO.
Before it began selling the nonintoxicating cannabis product cannabidiol, or CDB, Sumichrast's company promoted brands affiliated with the onetime swimsuit model, Kathy Ireland. In an allegedly self-dealing transaction, the SEC charges, Sumichrast had the fund pay $475,000 for shares in a failing company, to fortify a men's lifestyle venture founded and operated by Ireland, cbdMD's "chief brand strategist."
Filings by cbdMD said its business was "materially dependent upon our continued relationship with kathy ireland(R) Worldwide, Ms. Ireland and her affiliates." but she wasn't an officer of Sumichrast's company and isn't named in the SEC fraud complaint. A representative for Ireland didn't respond to a request for comment.
In a statement Wednesday, cbdMD noted that the SEC fraud allegations mention dealings between Sumichrast and cbdMD, but don't allege wrongdoing by cbdMD. Since the SEC seeks to bar Sumichrast from serving as an officer or director of any public company, and Sumichrast is chairman and CEO of cbdMD, the company has formed a board committee to review the case's implications, it said.
CbdMD's press release said that Sumichrast has agreed to cooperate fully with the board's committee, "while focusing on executing cbdMD's commitment to remaining one of the nation's leading and most highly trusted and recognized CBD companies."
The SEC complaint also notes that cbdMD sponsored a special purpose acquisition company called Adara Acquisition (ADRA), which raised $100 million in a February 2021 IPO. Sumichrast was Adara's chief executive until Wednesday, when the SPAC announced he was resigning in light of the SEC charges. Like cbdMD, Adara lists on the New York Stock Exchange, where its shares were trading at $9.87 on Thursday.
When cbdMD came public as Level Brands in 2017, it was the largest Reg A+ offering ever, with its IPO at $6. The stock edged above $7 after the company rebranded itself cbdMD in 2019 to emphasize its CBD products. By 2022, it had subsided to penny stock levels. After this week's SEC complaint against Sumichrast, the stock slipped from Tuesday's opening price of 72 cents to a Friday price of 57 cents.
CbdMD is the second of the stocks featured in our 2018 Reg A+ examination to draw SEC attention. In 2019, the cryptocurrency firm Longfin and three affiliated individuals settled fraud allegations and disgorged $25 million.
Write to Bill Alpert at firstname.lastname@example.org
(END) Dow Jones Newswires
June 03, 2022 13:15 ET (17:15 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.”
Positive Near-Term Sales Trend Expected, Significant Operational Adjustments Implemented
Charlotte, North Carolina--(Newsfile Corp. - May 13, 2022) - cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBDpA), one of the nation's leading and most highly trusted and recognized CBD companies, and operator of three of the leading CBD brands -- its flagship brand cbdMD, its animal health brand Paw CBD and its beauty and skincare brand cbdMD Botanicals, -- today announced our financial results for March 31, 2022, as we generated $9.6 million in net sales or an increase of 3.3% sequentially.
Charlotte, North Carolina--(Newsfile Corp. - May 6, 2022) - cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBDpA), one of the world's leading, and most highly trusted and recognized health & wellness CBD companies, announced today that it will host a conference call at 4:30 p.m., Eastern Time, on Friday, May 13, 2022, to discuss the company's March 30, 2022, second quarter financial results and business progress.
CHARLOTTE, N.C., March 03,-cbdMD, Inc. has announced an expansion in product offerings online and in over 840 retail GNC Holdings, LLC (GNC) stores nationwide.
The partnership with GNC is currently expanding in a positive way YQU Understand. Have Mercy WQLF Ahooooooo
CbdMD is going to be one of the CBD companies that will survive for a brighter future as soon as the FDA swamp is drained YQU Understand. Have Mercy WQLF Ahooooooo
The WQLF had the same thought a few months ago. Hopefully, it will pick up. Have Mercy WQLF Ahooooooo
Longs are watching and hopefully adding at these low levels YQU Understand Have Mercy WQLF Ahooooooo
Yea, but they are not just relying on that one thing?, ycbd has lots going on with or without fda fixing their flawed policies, CBD will fly high!..
Removing the drug exclusion for CBD will achieve clarity in the market and create a level playing field for all participants. The final outcome of this process is expected to result in the ability of the Company to submit and receive acknowledgement for a New Dietary Ingredient Notification (NDIN). This will finally allow the Company to inform consumers of the benefits of its cannabinoid products and expand its sales in the United States by opening up mass retail channels.
cbdMD Requests the Food and Drug Administration (FDA) Remove the Drug Exclusion for CBD and Review cbdMD's Extensive Safety Submission
10:45 am ET February 22, 2022 (BusinessWire) Print
cbdMD, Inc. (NYSE American: YCBD, YCBDpA) (the "Company"), one of the world's leading and most highly trusted and recognized health & wellness CBD companies, today announced that the Natural Products Association (NPA) filed a Citizen's Petition on cbdMD's behalf with the Food and Drug Administration (FDA) requesting the FDA to remove the drug exclusion for CBD and to review the Company's extensive dossier of identity, safety and quality data.
Removing the drug exclusion for CBD will achieve clarity in the market and create a level playing field for all participants. The final outcome of this process is expected to result in the ability of the Company to submit and receive acknowledgement for a New Dietary Ingredient Notification (NDIN). This will finally allow the Company to inform consumers of the benefits of its cannabinoid products and expand its sales in the United States by opening up mass retail channels. Since passage of the Farm Bill 2018, the FDA has not provided any clear regulation on the CBD market. The lack of a clear, regulated framework has allowed an expanding pool of producers, manufacturers and marketers to flood the market with substandard products and an abundance of questionable advertising tactics. Creating and enforcing industry-wide standards would help create a necessary roadmap for all CBD products and bring organization to an industry that has otherwise been operating without order.
"FDA has asked for good science and solid safety data. We offered it to them in our pre NDI submission meeting and the FDA was excited to review our data, but fell back on the drug exclusion. We want them to review our science, which we believe contains the requisite studies to clearly demonstrate the safety of our products for consumers. We want a scientific path to market consistent with the Dietary Supplement Health and Education Act (DSHEA), one that does not bureaucratically reward companies that aren't putting consumers first with safety and science. Our science is so strong that we are confident when we are given the opportunity to submit an NDIN we will achieve another first, the first acknowledgment letter for a NDIN for CBD," said Sibyl Swift, Ph.D., Vice President of Scientific & Regulatory Affairs for cbdMD.
Good luck to you too, and those Longs who are missing on this board?...
back to $2!!! soon
Change everything, the silence of this board, the main pages of the board, and updating and making the board more active!! that Change!!
I know that's been a few months. great time to get in here I feel.
seems to be inactive for some time while the stock has been going down. all stocks not just thins one. seems the stock market is not liking the current political state the past year.
I totally agree with you. they were down on revenue but suspect it has lit a fire under their butts. A great deal of good things happening that should effect future revenue. Amazon,EU, etc, etc......they seem to be one of the few actually conversing with the FDA.
YCBD...$2.25...Oversold Pincher Squeezing here as YCBD forms a Bullish Homing Pigeon Reversal Pattern to the Upside...
Loading on this Pattern as well as News...https://www.stocktitan.net/news/YCBD/cbd-md-signs-exclusive-agreement-to-enter-israeli-market-with-im-ilg8xknhzjzf.html
Chart... https://schrts.co/qMePMdUF ...
Just as a side note...I started accumulating many Israeli based companies sub $1 and most of them including YCBD ran to many Dollars...they have all retraced and now look like a buying zone to me...YCBD...EMAN...FRSX...NNDM...imo...we shall see...