It should happen after we get pass Ms. Ta's dream land to control all the money of the company. Dealing with people like this can be very problematic for shareholders. Don't worry, the system is set up for her to give out the reports. Nonprofits are really strict in there reporting requirements for corporation that generate more than $2 million in annual revenue. They are required to produce audited reports. I am sure the California Secretary of State, Debra Bowen, will also be on her case to produce the reports. Unfortunately for shareholders, some people think they can treat shareholders any old way in the public market place.
This stock should have be trading well over the present stock price. The CEO and COO have done everything in their power to keep the valuation of the company from going up. They are passing all the shareholder value through to a few insiders.
I keep telling them to contact the company for answers. The problem is with Ms. Ta, the COO, who does not want shareholders asking question about her activities. She stands to gain a lot by using the seafood business to finance a nonprofit MJ operation. Even a small nonprofit could rake in big money in salaries for her. The CEO is her close friend, so he is going along with it. Shareholders should not wait until she has positioned herself. I don't know about some investors but I don't have money to give to some woman that is not doing anything for me. She needs to produce a report and returns on our investments.
I don't know why you are implying a scam. This company checks out. Latteno is incorporation in Delaware, Rx Harvest Collective listed active in CA and Mezonza is listed as active in CA. The other nonprofits fall under Rx Harvest. The problem with this company right now is Ms. Ta, the COO, playing games. So far, it only looks like a few insiders try to keep valuation down so they can make a bid for the whole company. Ms. Ta is at the center of this whole nonsense. I think the past financial statement are correct and she see a chance to get this company for less than fair value now that it is off the ground (greedy). Problem: She never had to deal with public shareholders before this. She wants this to be a private company where there is less accountability for her actions. She is likely issuing shares off to people who can help her take full control of the company. Increased company valuation would make it for her to accomplice this because some of her cohorts likely sold their stocks for cash while waiting for the valuation to go down.
Latteno and its subsidiaries are registered with the states, so it is a legit operation. Latteno in Delaware, Rx Harvest Collective in CA and Mekonza in CA. All you have to do is check the California and Delaware Secretary of States website to find the information. The other nonprofits foll under Rx Harvest. So we know the company is legit. We also know that Mekonza was reporting until the CEO decided to add Ms. Ta's MJ units to the reports. Now there is a problem. Logic should tell you that she had something to do with company not releasing the report. To get an answer, shareholders should ask what her problem is. Your are right the nonprofits are not required to report until April 2015. I don't know why the CEO stated he would add them to the report this or next quarter.
The nonprofits listed could also easily generate a few hundred thousand a year in donations (mj sales) on a small scale. This money would go to her salary not to LATF shareholders. This is why she does not want shareholders asking too many questions about her MJ units. The units are making money but a few insiders are trying to take the money as salaries and through the purchase of their product for inventory... the magic pill (likely a close friend's product). Shareholders really need to have a talk with Ms. Ta.
I think MMJOC is an authorized retailer of the nextract brand. Latteno also is operates as an online retailer for its products and company's products. This is good as long as the company seeks to expand its product line and mix of the websites. The problem I have with the main site, Rx Harvest Collective Inc, is that she allowed one LT-512 vendor to control the whole site without adding anymore products to it. This really does not make any sense for an online retailer that markets health supplements. The company could add more products to this site in weeks but it is stuck on this one product.
It really does not make any sense. She could have increase the product mix for less than $20,000 on the Rx Harvest site. This company is also in the import /export business with connections throughout Asia. There is no excuse for Ms Ta not to add more products to this site. She was also in the salon and cosmetic business prior, so she could have easily found more wholesale health/vitamin products to sale retail through the site.
They are either trying to get the valuation down or she is incapable of operating her business unit. The performance of this stock and the lack of performance of her units should speak for itself. Shareholders should not have to go through nonsense. These are minor changes that can be made at the company to increase shareholder value. There is no excuse for this.
"non-related products" what do you mean by this. LT512 is considered a vitamin supplement by the FDA. This is why it does not need FDA approval. Health/vitamin supplemental products are related to this product. Product line and product mix are also basic marketing concepts. The increase in product mixes give online consumers more choices to drive traffic to the website. How many retailers do you know of that sale only one product on their websites or through brick and mortar businesses... Not many. There is no excuse for this.
I followed most of the SEC recommendations for doing due diligence on this company. The and its subsidiaries are registered with the States of CA and Delaware. Regulators also have not reported anything wrong with the company. Best I could find is an inexperienced COO who does not know to run her MJ unit as it relates a public parent company with shareholders. The problem is when shareholders start to put pressure on officers of small companies like this who are tight net (close friends), they will do things to discourage those shareholders.
The arguments of the negative posters also do not follow any logic when the elements are plugged in. For example, if the company was a scam I thing the officers would put out a lot more press releases. They would have also posted the earnings report ( why should they care if it is legit or not. On the Rx Harvest website they would just kept all the initial products listed on the site. They had at 15 products listed and reduced them to only one, LT 512. A scam company would have just kept all the products listed to mislead potential investors. They also could announced share buybacks and more agreements, why not if they only want price to go up.
This looks more like the COO does not know what the world she is doing and no one at the company has the courage/heart to tell her truth. If it is a pump scam, it is the worse run pump scam I every saw in my life time. The COO does not know what she is doing and she made a few mistakes in with her unit.
People really should look up the term scienter as it relates to securities fraud. When people act with scienter in frauds, they don't about care posting bogus earnings reports or listing many bogus products on websites. They have knowledge of their wrongful acts which is intended to cause harm to others. Before investigators catch with them, they usually close shop and move on to something. They don't stick around the same place while trying to sell more products like...LT-512. If this was the case, the company officers would just kept adding bogus products to the Rx Harvest site to mislead investors. They would have also been sending spam to potential investors email boxes and posting on this message board. They would have been doing more things to manipulate price up not down. Why? Because real pump and dump scam artists do not care if the information is legit or not. They will do almost anything to get investors to buy short term, so they can cash out and move on before regulators move in on to them.
Latteno, Rx harvest and Mekonza are all listed as active corporations registered in Delaware and CA, respectively. Investors can check this out by going to the Secretaries States websites for these states. It really looks like shareholders are just dealing with a very inexperienced COO here. The negative posters (scienters) are just trying to capitalize on this fact.
Put them on ignore, their threads and posts are not designed to inform or discuss anything about this sector or company. Their intent is to commit securities fraud by writing negative comments on message boards and blogs to get small investors to sell their shares. This called scienter in frauds where the person(s) have wrongful intent to cause harms to others. In this case it is shareholders. It really does not do much good to respond to their posts. The only resolutions is to report them and let regulators/investigators monitor their activities.
Right now we have two negative posters who post ever few hours or minutes. This is almost worst than spam on these message boards and it is especially discouraging for new small investors who want to have discussions about the sector and companies. edit
So far, this is one of the best buys in the sector. Most companies in the sector have potential for future earnings but right they operate at a loss. I would watch any company that shows an decrease in cost associated with an increase in revenues in the next 12 to 18 months. They have a better chance of reaching a break even point where they can start to return more value to their shareholders.
For LATF, this is purely a management problem. With all the recent positive events that took place in the sector, management of this company should not have had a problem with the start up and expansion of of viable MJ business. It really looks like Ms. Ta had good intentions but no one really wanted to deal with her outside of her own network. And the few who were willing to work with her did not provide much value to the company or to its shareholders.
The company has likely earned the reputation for being difficult to work with in the MJ space. Her Asia network may work very well in other retail spaces such as seafood products. The MJ space has proven more difficult for the company because it has to deal with groups outside that network who may or may not take care of them. From a shareholder stand point, I can see vendors and others external to their group having problems with the management of this company.
There is actually a pattern of this company having problem with shareholders, partners and other companies. The company operates in a closed system which support Asians in their group.
Communication with the company is part of performing due diligence. Points: Vietnam exports are growing at a very fast rate to include coffee and milk products. It also has a fast growing fishing export industry. This company stands to make more money in its import/export business. I doubt that management will risk this business model for a few million dollars in short term gains. My question only concern is with Ms. Ta and her MJ units...not the seafood, coffee and milk businesses.
Well, now you are getting it. I have been doing my due diligence on this company. I basically followed the guide line set by the SEC for checking this company out. The mainly to the company were about Ms. Ta and her MJ unit. I ask the company to give more information about her transactions and performance of her units in the next report. Instead of giving out more detail, the company decided not to give out any information. This is why I say Ms. Ta is behind this.
I also did not mention any other unit, such as the seafood, coffee or milk businesses. I did not mention any other names either. I only inquired of her unit.
The growth in the company's seafood business is also consistent with the growth in seafood exports from Vietnam to other countries including the US. The companies are registered with the Secretaries of States in the CA and Delaware. Regulators have not reported anything wrong with the company. This leads me to believe that Ms. Ta, the COO, is trying to mess over a few shareholders for asking the tough questions about the performance of her unit.
"This is complete BS thus far on the MJ side and its spilling over into operations as a whole." Right, when shareholders started asking questions about the MJ unit and Ms. Ta, they were punished for it. The woman is not doing much to increase shareholder value. She actually made it worse with the quality and confusion of the websites. For example, she has yet to increase the product mix of the Rx Harvest website. The website is not going to get much retail traffic with one product, LT-512.
The problem is also spilling over into the IR department. Shareholders are asking questions about her MJ unit transactions and she is telling Grace not to answer any questions. Like it or not, Ms Ta, the COO, is at the center of this whole valuation problem. Shareholders (owners) are not at fault either for asking her questions about the unit and their investments, this is their right.
Here we go again with the cleaning crew nonsense. Why is this joke so important to you. The joke is old don't you think. I said before that DEC is the month for all these year end tax posters on these boards. It is the same old pattern every year at this time.
You are also implying something about his company that makes no sense. How did the cleaning crew report $16 million in annual revenue, register companies with the secretaries of states and maintain four websites. Some people can't see the forest for the trees.
How fast is the Vietnam fisheries growing in that country. What is the growth of rate of exports to the US. Lets have a toast to the fisheries. Too bad your macro world is caught up on the cleaning crew. Maybe you should try more research to broaden your horizons. What do we call a growing seafood business, four websites, $16 million in annual revenue and a cleaning crew in poker. I would say a very good hand.
lol. Our negative poster took the bait, hook and sinker, with his doom and gloom post about the economy. Just goes to show how scienter works in the minds of short and distort fraudsters. Our other negative poster mental state is getting even worse. I guess every board needs a good joke or two.
Any legit company in this sector should start recover. Our black box is now show more outputs even when investors did not know all the inputs. We can call this a black box sector, as more positive inputs become available, we should see more stock prices reflex this. Companies that are actually involved in the sector should see an increase in their stock prices, provided they keep their metrics in check.
Sounds like you don't get out much and you live in an efficiency. Your keys are probably in the front door where you left two weeks ago. Finally ran out of beer did we.
We normally go from chaos to order. This is our Latteno investment, the federal government, regulators and inexperienced managers create chaos for the sector and its companies. Shareholder activists through the political process and communication with boards of directors establish order by putting pressure on them to change the system. Smart investors see the change early and get in on it. They normally reap the greatest rewards while laggards who wait for order and less risk get the lessor of it.