One thing this management is doing is telling you in advance how they are going to #$%$, how many shares they will dump on you, and when they will dump it on you. The 8-K's lists the dates and the conversion prices that toxic financiers get. Usually 50% discount to lowest weight volume average....so they get shares at 0.025 - 0.06 . Wouldn't you lock in 100-200% gains if you could? Those who are buying in the open market are playing right into the hands of the toxic financiers.
Toxic financiers are waiting in wings to dump their stock. In other words they are waiting for people to buy. This isn't as slam dunk as you are leading people to believe.
I'm no fan of this company...but your facts seem to be a bit dated. The machines are no longer in the picture. They sold all of one machine in four years. No longer selling them. The first crop will be hemp, then the next crop will be pot. They have several toxic financiers...O/S share count nearing 100 million and they just bumped A/S share count to 400 million. Most revenue right now comes from Vape division who unfortunately just had to recall it's MiVape product due to many defective issues, this after 4 years of planning, and still waiting for replacement units to arrive from China.
While I agree that a $14 buyout price is a steal for the acquirer, I think any white knight won't initially pay more than $1-2 above this price. It's a negotiation after all. PGI was on a path to the low $20's but it would have taken at least a year of perfect execution.
Maybe Siris winds up paying $17/share after it's all said and done. That is why I'm holding.
Vape currently accounts for most of the Medbox revenue.....it's new model miVape has been delayed 3 1/2 years due to development, production delays and whatever else the company could make up...finally debuts on July 24, 2015 and in early August sales are stopped due to many of the units being DOA and just overall flimsy quality. The company had to pay return postage to get sold units back and also had to create new production units with many fixes to them. Those new units are still in China with no ETA.
Don't you wonder why this hasn't been disclosed? Seems pretty material to me. The shareholder letter would have been the perfect forum to come clean with it.
Anybody that Vinny gets involved with is going to have problems ...especially with a guy who worked at Medbox while all the shenanigans were going on.
502 refers NOT to the number of dispensaries but the legislative act 502-I.
With Kyle running the show, he has the most to gain from a share repurchase. That's what he has been calling for since he was an activist trying to get the prior board to move on.with.
No fan of company but it's a real piece of property that is already developed with some greenhouses on site and irrigation sprinklers in place. Greenhouses won't occupy the two main growing parcels. Probably will be built on 10 acres on the perimeter of the parcels (with other people's money). Agree with your assessment that no way crops will be ready be end of year.
Every price point you bought at from .33 down has been a disaster trade. Fortunately market makers need guys like you to sell to. Good luck.as more shares continue to hi the market. maybe you can buy Vinnie's 30 MM shares.
I would say pretty disappointing. Folks were right when they said this stock was a value trap. It's time for Kyle Cerminara, the new Chairman, to put up or shut up and start using some of that $25 million cash for a stock buyback.
In order to purchase the CO property, the company has to issue shares to the seller and at discount in order for the seller to unload his shares. The A/S increase to 400 million shares will help but I'm guessing the company will have to issue 80MM-100MM shares at 20% discount to avg weight price to pay for property. The company may have to increase the amount of shares if the price continues to fall. Whatever little cash they have may be used to extend the deal beyond the published closing date.
This won't be a normal real estate transaction where you put a 30% deposit down and finance the rest with a mortgage. All Medbox's cash goes to paying it's officers and directors, not much is left over for anything else.
So price is going down on anticipated dilution. Price will continue to go down when seller starts selling those shares into the market...that is IF they deal ever gets completed...and that's never a given with Medbox.
It's going to be tough to sustain stock price appreciation because it seems everybody on this board (which is likely for most other small shareholders) wants out a slightly higher levels.
500,000 share sell on the close at .127 ...nice paint job to make it look like it closed at .150 .
This company has less than $100,000 annual revenues with Grand Jury and SEC investigations still pending. Don't ever confuse fundamentals with rampant stock speculation.
Outstanding share count growing by the week.
Cavey leaving is no surprise since he arranged his own "golden parachute". Why bother working and be the whipping boy. He'll get paid handsomely for being the "I told you so" guy. I'll give Stark the benefit of the doubt for now as he may have had no real power and just was forced to go along with whatever Cavey demanded.
Global's proxy is available....
My favorite quote from BTN's proxy to justify why they needed the poison pill is "in order to protect the Company’s stockholders from a creeping acquisition of control without payment of a control premium to all stockholders".
I think what they failed to mention is that there is a clause that enables the current BOD to cash in IF there is a change in control, premium or no premium.
You say RED but Fundamental Global is saying BLUE card in their PR.
Whatever the color is, I urge all shareholders to read the Fundamental Global proxy as they show how BTN management has screwed up their acquisitions and have essentially backed BTN management into a corner whereby the current Board of Directors only option was to adopt a Poison Pill to protect their own interests.
Nothing that long time shareholders haven't known for years. is in this filing...but it is worth noting that revenues have obviously declined due to the end of the digital projector conversion and management decided to get into businesses it had no prior experience in. Management painted a rosy picture of accretive earnings that never panned out and probably never will unless new blood is brought in to LEAD the company.
My Vote is for Fundamental Global.