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.
There are no new developments. Vape is their only product and it's only about $15K per quarter in sales. Anybody who is pushing the stock is doing so for their own benefit because they already have a position and need you to push the price higher so they can get out. Why are insiders still dumping stock like crazy if the company is so great?
Eventually...used to be that at least 3x book value would be a good acquisition price for banks. Might be a little lower today. I would hope CRPB does some acquisitions first.